Which mortgage lender in the St. Marys, PA 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 St. Marys, PA 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 St. Marys, PA area in terms of interest rate is Northwest Bank PA, with an average “Rate Difference” of -0.08%. This means that, comparing similar borrowers, Northwest Bank PA provided a -0.08% lower interest rate for its customers than other lenders in the area. Northwest Bank PA has a market share of 51.3%. It is the most popular lender in the St. Marys, PA area.
Our detailed ranking of mortgage lenders in the St. Marys, PA 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, Northwest Bank PA is the cheapest mortgage provider for Conventional and Jumbo mortgages in St. Marys, PA. 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 Northwest Bank PA. 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.
* Data is compiled for the St. Marys, PA commuting zone area, which comprises of counties of Cameron County, PA, Elk County, PA, Mc Kean County, PA, and Potter County, PA. This includes cities/towns/communities of St. Marys, PA as well as Foster Brook, PA, Kersey, PA, Bradford, PA, Ulysses, PA, Ridgway, PA, Roulette, PA, Coudersport, PA, Kane, PA, Port Allegany, PA, James City, PA, Galeton, PA, Lewis Run, PA, Shinglehouse, PA, Prospect Park, PA, Weedville, PA, Eldred, PA, Johnsonburg, PA, Smethport, PA, Mount Jewett, PA, Wilcox, PA, and Emporium, PA. 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.
