Which mortgage lender in the Tyler, TX 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 Tyler, TX area by interest rate and market share. We maintain our independence by not accepting any compensation from the mortgage lenders we rank, and 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 Tyler, TX area in terms of interest rate is Southside Bank, with an average “Rate Difference” of -0.15%. This means that, comparing similar borrowers, Southside Bank provided a -0.15% lower interest rate for its customers than other lenders in the area. Southside Bank has a market share of 5.0%. On the other hand, the most popular lender in the Tyler, TX area is Quicken Loans, with a larger market share of 11.0%. Quicken Loans is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.08% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Tyler, TX 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, going by historical data, the cheapest lender for Conventional mortgages in Tyler, TX is Southside Bank. If you want to take out a loan that is above conforming limits (above $548,250 or $822,375 depending on the area in 2021), the cheapest Jumbo mortgage provider is JPMorgan Chase Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is CMG Financial. The cheapest VA mortgage provider is Navy Federal Credit Union. 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 Tyler, TX
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Caliber Home Loans | -0.03% | 8.11% | |
| Quicken Loans | -0.03% | 16.22% | |
| CMG Financial | -0.01% | 2.70% | |
| Guild Mortgage Company | -0.01% | 8.11% | |
| Commercial Bank Of Texas | -0.01% | 5.41% | |
| Fairway Independent Mortgage Corporation | -0.01% | 5.41% | |
| Carrington Mortgage Services | -0.00% | 27.03% | |
| Primary Residential Mortgage Inc | -0.00% | 5.41% | |
| Guaranteed Rate Affinity | 0.01% | 2.70% | |
| Mr. Cooper | 0.01% | 2.70% | |
| Gateway First Bank | 0.01% | 5.41% | |
| Mortgage Financial Services Baton Rouge | 0.07% | 10.81% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| JPMorgan Chase Bank | -0.02% | 11.11% | |
| Bank of America | -0.01% | 7.41% | |
| Gateway First Bank | -0.01% | 3.70% | |
| Prosperity Bank | -0.00% | 3.70% | |
| Regions Bank | -0.00% | 7.41% | |
| Southside Bank | -0.00% | 37.04% | |
| Wells Fargo Bank | 0.01% | 18.52% | |
| Navy Federal Credit Union | 0.01% | 3.70% | |
| VeraBank | 0.02% | 7.41% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| JPMorgan Chase Bank | -0.02% | 10.00% | |
| Bank of America | -0.02% | 5.00% | |
| Gateway First Bank | -0.01% | 5.00% | |
| Prosperity Bank | -0.01% | 5.00% | |
| Regions Bank | -0.00% | 5.00% | |
| Southside Bank | -0.00% | 35.00% | |
| Wells Fargo Bank | 0.01% | 20.00% | |
| Navy Federal Credit Union | 0.01% | 5.00% | |
| VeraBank | 0.02% | 10.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| JPMorgan Chase Bank | -0.01% | 14.29% | |
| Bank of America | -0.00% | 14.29% | |
| Southside Bank | 0.00% | 42.86% | |
| Regions Bank | 0.00% | 14.29% | |
| Wells Fargo Bank | 0.01% | 14.29% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Home Point Financial Corporation | -0.03% | 12.90% | |
| USAA | -0.02% | 16.13% | |
| loanDepot | -0.02% | 6.45% | |
| Gateway First Bank | -0.01% | 3.23% | |
| Fairway Independent Mortgage Corporation | -0.01% | 6.45% | |
| Caliber Home Loans | -0.01% | 16.13% | |
| Service First Mortgage | -0.01% | 3.23% | |
| Finance of America Mortgage | 0.00% | 3.23% | |
| Guaranteed Rate Affinity | 0.00% | 3.23% | |
| Cardinal Financial Company | 0.01% | 3.23% | |
| Mortgage Financial Services Baton Rouge | 0.01% | 6.45% | |
| Altra Federal Credit Union | 0.02% | 3.23% | |
| Carrington Mortgage Services | 0.05% | 16.13% |
* Data is compiled for the Tyler, TX commuting zone area, which comprises of counties of Anderson County, TX, Cherokee County, TX, Henderson County, TX, Houston County, TX, and Smith County, TX. This includes cities/towns/communities of Tyler, TX as well as Bullard, TX, Whitehouse, TX, Palestine, TX, Lindale, TX, Athens, TX, Gun Barrel City, TX, Hideaway, TX, Jacksonville, TX, Emerald Bay, TX, Shadybrook, TX, Chandler, TX, Noonday, TX, Tool, TX, Payne Springs, TX, Arp, TX, Berryville, TX, Rusk, TX, Elkhart, TX, Crockett, TX, Caney City, TX, Brownsboro, TX, Winona, TX, Log Cabin, TX, Overton, TX, Frankston, TX, Troup, TX, New Summerfield, TX, Grapeland, TX, Seven Points, TX, Trinidad, TX, Eustace, TX, Alto, TX, Lovelady, TX, Malakoff, TX, Kennard, TX, and Wells, TX. 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.
Mortgage Lender Rankings in Other Cities
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