Top Mortgage Lenders in Bourbonnais, IL

Which mortgage lender in the Bourbonnais, IL area typically has the best rates? To help you narrow down where to shop for a mortgage, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Bourbonnais, IL area by interest rate and market share. Unlike our competitors, we maintain independence by not accepting any compensation from the mortgage lenders we rank. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings.

Going by historical data, the best mortgage lender in the Bourbonnais, IL area in terms of interest rate is Wells Fargo Bank, with an average “Rate Difference” of -0.08%. This means that, comparing similar borrowers, Wells Fargo Bank provided a -0.08% lower interest rate for its customers than other lenders in the area. Wells Fargo Bank has a market share of 12.0%. On the other hand, the most popular lender in the Bourbonnais, IL area is Midland States Bank, with a larger market share of 33.6%. Midland States Bank is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.02% compared to those of other lenders in this area.

Our detailed ranking of mortgage lenders in the Bourbonnais, IL area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, Wells Fargo Bank is the cheapest mortgage provider for Conventional and Jumbo mortgages in Bourbonnais, IL. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Quicken Loans. The cheapest VA mortgage provider is Midland States Bank. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.

Ranking of Mortgage Lenders in Bourbonnais, IL

Mortgage Type:
Purchase/Refinance:
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.08%(4.0)11.98%
First American Bank-0.08%(4.0)4.27%
JPMorgan Chase Bank-0.03%(3.5)4.55%
PNC Bank-0.03%(3.5)5.37%
Quicken Loans0.00%(3.5)21.35%
Guaranteed Rate0.01%(3.5)5.79%
Midland States Bank0.02%(3.5)33.61%
Flanagan State Bank0.04%(3.5)6.47%
First Financial Bank0.09%(3.0)6.61%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.11%(4.0)13.06%
First American Bank-0.06%(4.0)3.00%
JPMorgan Chase Bank-0.05%(3.5)4.07%
PNC Bank-0.02%(3.5)4.71%
Quicken Loans-0.01%(3.5)16.70%
Midland States Bank0.01%(3.5)38.33%
Guaranteed Rate0.03%(3.5)7.28%
Flanagan State Bank0.10%(3.0)4.93%
First Financial Bank0.12%(3.0)7.92%
Lender NameRate DifferenceRate RatingMarket Share
First American Bank-0.10%(4.0)6.56%
PNC Bank-0.06%(4.0)6.56%
Guaranteed Rate-0.04%(3.5)3.09%
Flanagan State Bank-0.03%(3.5)9.27%
First Financial Bank-0.02%(3.5)4.25%
Wells Fargo Bank-0.02%(3.5)10.04%
JPMorgan Chase Bank-0.02%(3.5)5.41%
Quicken Loans0.01%(3.5)29.73%
Midland States Bank0.06%(3.0)25.10%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.09%(4.0)14.61%
First American Bank-0.08%(4.0)5.46%
PNC Bank-0.04%(3.5)5.63%
JPMorgan Chase Bank-0.04%(3.5)5.63%
Guaranteed Rate-0.02%(3.5)4.23%
Flanagan State Bank0.00%(3.5)4.40%
Midland States Bank0.02%(3.5)39.61%
Quicken Loans0.06%(3.0)12.68%
First Financial Bank0.09%(3.0)7.75%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.11%(4.0)16.20%
First American Bank-0.07%(4.0)3.91%
JPMorgan Chase Bank-0.05%(4.0)5.03%
PNC Bank-0.02%(3.5)4.47%
Guaranteed Rate-0.01%(3.5)4.75%
Midland States Bank0.01%(3.5)45.81%
Flanagan State Bank0.04%(3.5)2.51%
Quicken Loans0.06%(3.0)8.10%
First Financial Bank0.14%(3.0)9.22%
Lender NameRate DifferenceRate RatingMarket Share
First American Bank-0.11%(4.0)8.10%
PNC Bank-0.07%(4.0)7.62%
Guaranteed Rate-0.05%(4.0)3.33%
Flanagan State Bank-0.04%(3.5)7.62%
First Financial Bank-0.03%(3.5)5.24%
Wells Fargo Bank-0.03%(3.5)11.90%
JPMorgan Chase Bank-0.03%(3.5)6.67%
Quicken Loans0.05%(3.5)20.48%
Midland States Bank0.06%(3.0)29.05%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.04%(3.5)51.97%
Midland States Bank-0.03%(3.5)13.39%
PNC Bank-0.00%(3.5)3.15%
First Financial Bank0.00%(3.5)3.15%
JPMorgan Chase Bank0.04%(3.5)0.79%
Guaranteed Rate0.07%(3.0)11.81%
Flanagan State Bank0.11%(3.0)15.75%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.07%(4.0)43.18%
Midland States Bank-0.04%(3.5)15.91%
PNC Bank-0.00%(3.5)4.55%
First Financial Bank0.00%(3.5)4.55%
JPMorgan Chase Bank0.03%(3.5)1.14%
Guaranteed Rate0.08%(3.0)15.91%
Flanagan State Bank0.16%(2.5)14.77%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.01%(3.5)71.79%
Flanagan State Bank0.02%(3.5)17.95%
Midland States Bank0.03%(3.5)7.69%
Guaranteed Rate0.04%(3.5)2.56%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank0.00%(3.5)100.00%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank0.00%(3.5)100.00%
Insufficient data available.
Lender NameRate DifferenceRate RatingMarket Share
Midland States Bank-0.02%(3.5)6.67%
PNC Bank-0.01%(3.5)10.00%
Wells Fargo Bank-0.01%(3.5)10.00%
Guaranteed Rate-0.00%(3.5)10.00%
Flanagan State Bank-0.00%(3.5)6.67%
Quicken Loans0.01%(3.5)56.67%
Lender NameRate DifferenceRate RatingMarket Share
Midland States Bank-0.02%(3.5)5.00%
Flanagan State Bank-0.02%(3.5)5.00%
PNC Bank-0.02%(3.5)10.00%
Wells Fargo Bank-0.01%(3.5)10.00%
Guaranteed Rate-0.00%(3.5)15.00%
Quicken Loans0.01%(3.5)55.00%
Lender NameRate DifferenceRate RatingMarket Share
Midland States Bank-0.02%(3.5)10.00%
Wells Fargo Bank-0.01%(3.5)10.00%
PNC Bank-0.01%(3.5)10.00%
Quicken Loans0.00%(3.5)60.00%
Flanagan State Bank0.02%(3.5)10.00%

* Data is compiled for the Bourbonnais, IL commuting zone area, which comprises of counties of Iroquois County, IL, and Kankakee County, IL. This includes cities/towns/communities of Bourbonnais, IL as well as Bradley, IL, Manteno, IL, Kankakee, IL, Limestone, IL, Aroma Park, IL, Cabery, IL, Gilman, IL, Grant Park, IL, Sun River Terrace, IL, Momence, IL, Irwin, IL, Ashkum, IL, Chebanse, IL, Cissna Park, IL, Woodland, IL, St. Anne, IL, Martinton, IL, Wellington, IL, Watseka, IL, and Hopkins Park, IL. Lenders must have made at least 30 loans in the area to be included. Source of the data is Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate conditional on the commuting zone, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.

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