Which mortgage lender in the Boone, NC 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 Boone, NC 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 Boone, NC area in terms of interest rate is Piedmont Federal Savings Bank, with an average “Rate Difference” of -0.17%. This means that, comparing similar borrowers, Piedmont Federal Savings Bank provided a -0.17% lower interest rate for its customers than other lenders in the area. Piedmont Federal Savings Bank has a market share of 3.2%. On the other hand, the most popular lender in the Boone, NC area is Quicken Loans, with a larger market share of 19.8%. However, Quicken Loans also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.11% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the Boone, NC 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 Boone, NC is Piedmont Federal Savings 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 Wells Fargo Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Atlantic Bay Mortgage Group. The cheapest VA mortgage provider is Wells Fargo 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 Boone, NC
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Piedmont Federal Savings Bank | -0.17% | 3.21% | |
| Truist Bank | -0.09% | 10.00% | |
| Bank of America | -0.07% | 3.79% | |
| First National Bank of Pennsylvania | -0.04% | 6.00% | |
| Wells Fargo Bank | -0.02% | 10.50% | |
| Movement Mortgage | -0.02% | 13.50% | |
| ALCOVA Mortgage | -0.02% | 2.64% | |
| First Citizens Bank | -0.01% | 3.29% | |
| State Employees’ Credit Union | 0.00% | 12.29% | |
| USAA | 0.01% | 3.07% | |
| Atlantic Bay Mortgage Group | 0.02% | 5.14% | |
| United Community Bank | 0.02% | 4.36% | |
| Fairway Independent Mortgage Corporation | 0.02% | 2.43% | |
| Quicken Loans | 0.11% | 19.79% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Piedmont Federal Savings Bank | -0.12% | 2.00% | |
| Truist Bank | -0.11% | 9.08% | |
| Bank of America | -0.09% | 4.72% | |
| Wells Fargo Bank | -0.04% | 14.62% | |
| First National Bank of Pennsylvania | -0.04% | 3.18% | |
| ALCOVA Mortgage | -0.02% | 3.30% | |
| First Citizens Bank | -0.02% | 2.59% | |
| Movement Mortgage | -0.01% | 19.69% | |
| United Community Bank | -0.01% | 3.77% | |
| USAA | 0.01% | 4.36% | |
| Atlantic Bay Mortgage Group | 0.02% | 6.49% | |
| Fairway Independent Mortgage Corporation | 0.03% | 3.66% | |
| State Employees’ Credit Union | 0.10% | 7.43% | |
| Quicken Loans | 0.11% | 15.09% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Piedmont Federal Savings Bank | -0.21% | 5.07% | |
| Movement Mortgage | -0.07% | 3.99% | |
| Truist Bank | -0.07% | 11.41% | |
| State Employees’ Credit Union | -0.06% | 19.75% | |
| First National Bank of Pennsylvania | -0.04% | 10.33% | |
| Bank of America | -0.02% | 2.36% | |
| First Citizens Bank | -0.00% | 4.35% | |
| USAA | -0.00% | 1.09% | |
| ALCOVA Mortgage | 0.00% | 1.63% | |
| Fairway Independent Mortgage Corporation | 0.00% | 0.54% | |
| Atlantic Bay Mortgage Group | 0.02% | 3.08% | |
| United Community Bank | 0.05% | 5.25% | |
| Wells Fargo Bank | 0.07% | 4.17% | |
| Quicken Loans | 0.12% | 26.99% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Piedmont Federal Savings Bank | -0.17% | 3.73% | |
| Truist Bank | -0.10% | 10.02% | |
| Bank of America | -0.08% | 3.81% | |
| First National Bank of Pennsylvania | -0.04% | 6.05% | |
| ALCOVA Mortgage | -0.03% | 2.24% | |
| Movement Mortgage | -0.02% | 13.67% | |
| Wells Fargo Bank | -0.02% | 11.43% | |
| First Citizens Bank | -0.01% | 3.56% | |
| USAA | -0.00% | 2.07% | |
| State Employees’ Credit Union | 0.00% | 14.17% | |
| United Community Bank | 0.02% | 4.64% | |
| Fairway Independent Mortgage Corporation | 0.03% | 1.91% | |
| Atlantic Bay Mortgage Group | 0.03% | 4.72% | |
| Quicken Loans | 0.14% | 17.98% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Truist Bank | -0.12% | 9.89% | |
| Piedmont Federal Savings Bank | -0.11% | 2.37% | |
| Bank of America | -0.10% | 4.74% | |
| First National Bank of Pennsylvania | -0.04% | 3.20% | |
| ALCOVA Mortgage | -0.04% | 2.92% | |
| Wells Fargo Bank | -0.04% | 16.02% | |
| First Citizens Bank | -0.02% | 2.92% | |
| Movement Mortgage | -0.01% | 20.06% | |
| United Community Bank | -0.00% | 4.04% | |
| USAA | 0.00% | 3.06% | |
| Fairway Independent Mortgage Corporation | 0.04% | 2.79% | |
| Atlantic Bay Mortgage Group | 0.04% | 5.85% | |
| State Employees’ Credit Union | 0.10% | 8.77% | |
| Quicken Loans | 0.14% | 13.37% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Piedmont Federal Savings Bank | -0.21% | 5.73% | |
| Truist Bank | -0.08% | 10.22% | |
| Movement Mortgage | -0.07% | 4.29% | |
| State Employees’ Credit Union | -0.06% | 22.09% | |
| First National Bank of Pennsylvania | -0.05% | 10.22% | |
| Bank of America | -0.03% | 2.45% | |
| USAA | -0.01% | 0.61% | |
| First Citizens Bank | -0.00% | 4.50% | |
| ALCOVA Mortgage | -0.00% | 1.23% | |
| Fairway Independent Mortgage Corporation | 0.00% | 0.61% | |
| Atlantic Bay Mortgage Group | 0.02% | 3.07% | |
| United Community Bank | 0.05% | 5.52% | |
| Wells Fargo Bank | 0.07% | 4.70% | |
| Quicken Loans | 0.14% | 24.74% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Atlantic Bay Mortgage Group | -0.05% | 10.71% | |
| Bank of America | -0.03% | 1.19% | |
| Quicken Loans | -0.00% | 50.00% | |
| First Citizens Bank | -0.00% | 1.19% | |
| United Community Bank | 0.00% | 2.38% | |
| ALCOVA Mortgage | 0.01% | 3.57% | |
| Fairway Independent Mortgage Corporation | 0.01% | 10.71% | |
| Wells Fargo Bank | 0.03% | 1.19% | |
| Movement Mortgage | 0.04% | 19.05% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Atlantic Bay Mortgage Group | -0.07% | 11.48% | |
| Bank of America | -0.03% | 1.64% | |
| United Community Bank | -0.01% | 1.64% | |
| First Citizens Bank | -0.01% | 1.64% | |
| Quicken Loans | -0.00% | 36.07% | |
| ALCOVA Mortgage | 0.00% | 4.92% | |
| Fairway Independent Mortgage Corporation | 0.01% | 14.75% | |
| Wells Fargo Bank | 0.02% | 1.64% | |
| Movement Mortgage | 0.03% | 26.23% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.00% | 86.96% | |
| Atlantic Bay Mortgage Group | 0.01% | 8.70% | |
| United Community Bank | 0.02% | 4.35% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.03% | 13.33% | |
| Bank of America | -0.02% | 13.33% | |
| Truist Bank | -0.01% | 31.11% | |
| State Employees’ Credit Union | 0.01% | 2.22% | |
| First National Bank of Pennsylvania | 0.02% | 22.22% | |
| United Community Bank | 0.02% | 2.22% | |
| First Citizens Bank | 0.02% | 4.44% | |
| Quicken Loans | 0.02% | 6.67% | |
| Atlantic Bay Mortgage Group | 0.04% | 4.44% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.03% | 25.00% | |
| Bank of America | -0.02% | 20.83% | |
| Truist Bank | 0.00% | 16.67% | |
| First National Bank of Pennsylvania | 0.01% | 12.50% | |
| United Community Bank | 0.02% | 4.17% | |
| Quicken Loans | 0.03% | 12.50% | |
| Atlantic Bay Mortgage Group | 0.04% | 8.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Truist Bank | -0.02% | 47.62% | |
| Bank of America | 0.01% | 4.76% | |
| State Employees’ Credit Union | 0.01% | 4.76% | |
| First National Bank of Pennsylvania | 0.02% | 33.33% | |
| First Citizens Bank | 0.02% | 9.52% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.03% | 3.12% | |
| Movement Mortgage | -0.02% | 12.50% | |
| First National Bank of Pennsylvania | -0.01% | 1.56% | |
| Truist Bank | -0.01% | 7.81% | |
| United Community Bank | -0.01% | 3.12% | |
| Fairway Independent Mortgage Corporation | -0.00% | 3.12% | |
| ALCOVA Mortgage | 0.00% | 10.94% | |
| Atlantic Bay Mortgage Group | 0.00% | 6.25% | |
| USAA | 0.00% | 28.12% | |
| Quicken Loans | 0.01% | 23.44% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Truist Bank | -0.03% | 4.44% | |
| Wells Fargo Bank | -0.02% | 4.44% | |
| Movement Mortgage | -0.01% | 15.56% | |
| First National Bank of Pennsylvania | -0.01% | 2.22% | |
| United Community Bank | -0.00% | 2.22% | |
| Fairway Independent Mortgage Corporation | 0.00% | 4.44% | |
| Quicken Loans | 0.00% | 15.56% | |
| Atlantic Bay Mortgage Group | 0.00% | 8.89% | |
| USAA | 0.01% | 33.33% | |
| ALCOVA Mortgage | 0.01% | 8.89% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Movement Mortgage | -0.02% | 5.26% | |
| United Community Bank | -0.02% | 5.26% | |
| ALCOVA Mortgage | -0.02% | 15.79% | |
| USAA | -0.02% | 15.79% | |
| Truist Bank | 0.00% | 15.79% | |
| Quicken Loans | 0.02% | 42.11% |
* Data is compiled for the Boone, NC commuting zone area, which comprises of counties of Ashe County, NC, Avery County, NC, Watauga County, NC, Wilkes County, NC, and Johnson County, TN. This includes cities/towns/communities of Boone, NC as well as Foscoe, NC, Sugar Mountain, NC, Blowing Rock, NC, Banner Elk, NC, Beech Mountain, NC, Millers Creek, NC, Wilkesboro, NC, Jefferson, NC, Moravian Falls, NC, Mulberry, NC, West Jefferson, NC, Newland, NC, Hays, NC, Pleasant Hill, NC, Cove Creek, NC, Mountain City, TN, Fairplains, NC, Crossnore, NC, Elk Park, NC, North Wilkesboro, NC, Cricket, NC, and Lansing, NC. 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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