Which mortgage lender in the New Orleans, LA 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 New Orleans, LA 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 New Orleans, LA area in terms of interest rate is Standard Mortgage, with an average “Rate Difference” of -0.18%. This means that, comparing similar borrowers, Standard Mortgage provided a -0.18% lower interest rate for its customers than other lenders in the area. Standard Mortgage has a market share of 2.4%. On the other hand, the most popular lender in the New Orleans, LA area is GMFS Mortgage, with a larger market share of 10.2%. GMFS Mortgage is an average lender in terms of the interest rate it offers, with a “Rate Difference” of -0.06% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the New Orleans, LA 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 New Orleans, LA is Keesler Federal Credit Union. 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 Bank of America. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Standard Mortgage. 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 New Orleans, LA
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Bank of America | -0.06% | 5.45% | |
| Regions Bank | -0.04% | 11.63% | |
| Wells Fargo Bank | -0.02% | 10.15% | |
| JPMorgan Chase Bank | -0.02% | 17.08% | |
| Keesler Federal Credit Union | -0.01% | 0.99% | |
| Fidelity Bank LA | -0.00% | 6.19% | |
| US Bank | 0.00% | 1.98% | |
| Southwest Funding | 0.01% | 0.25% | |
| Movement Mortgage | 0.01% | 0.25% | |
| Home Point Financial Corporation | 0.01% | 0.50% | |
| DelMar Financial Company | 0.01% | 0.25% | |
| Hancock Whitney Bank | 0.01% | 18.07% | |
| Republic State Mortgage Co | 0.01% | 0.25% | |
| USAA | 0.02% | 0.25% | |
| Quicken Loans | 0.02% | 2.48% | |
| Angel Oak Home Loans | 0.02% | 1.49% | |
| Goldwater Bank | 0.02% | 0.50% | |
| The Mortgage Connection | 0.02% | 0.25% | |
| Home Bank National Association | 0.02% | 0.50% | |
| America’s Mortgage Resource | 0.02% | 0.74% | |
| Gulf Coast Bank & Trust | 0.03% | 1.24% | |
| Caliber Home Loans | 0.03% | 0.99% | |
| Flagstar Bank | 0.03% | 0.99% | |
| Navy Federal Credit Union | 0.03% | 0.99% | |
| Assurance Financial | 0.04% | 0.50% | |
| Jefferson Financial Federal Credit Union | 0.04% | 0.25% | |
| SunTrust Bank | 0.04% | 1.98% | |
| Carrington Mortgage Services | 0.04% | 0.25% | |
| IBERIABANK | 0.04% | 11.88% | |
| GMFS Mortgage | 0.07% | 1.73% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Bank of America | -0.06% | 5.94% | |
| Regions Bank | -0.04% | 11.42% | |
| JPMorgan Chase Bank | -0.04% | 16.89% | |
| Wells Fargo Bank | -0.03% | 13.70% | |
| Keesler Federal Credit Union | -0.01% | 0.91% | |
| Fidelity Bank LA | -0.00% | 5.94% | |
| US Bank | 0.01% | 2.28% | |
| DelMar Financial Company | 0.01% | 0.46% | |
| Home Point Financial Corporation | 0.01% | 0.46% | |
| Goldwater Bank | 0.02% | 0.46% | |
| USAA | 0.02% | 0.46% | |
| Gulf Coast Bank & Trust | 0.02% | 0.91% | |
| Angel Oak Home Loans | 0.03% | 1.83% | |
| Home Bank National Association | 0.03% | 0.46% | |
| Flagstar Bank | 0.03% | 1.83% | |
| Hancock Whitney Bank | 0.03% | 15.98% | |
| Carrington Mortgage Services | 0.04% | 0.46% | |
| Assurance Financial | 0.04% | 0.46% | |
| Navy Federal Credit Union | 0.05% | 1.37% | |
| SunTrust Bank | 0.05% | 1.83% | |
| IBERIABANK | 0.07% | 14.16% | |
| GMFS Mortgage | 0.07% | 1.83% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Bank of America | -0.05% | 4.86% | |
| Regions Bank | -0.03% | 11.89% | |
| US Bank | -0.01% | 1.62% | |
| Hancock Whitney Bank | -0.01% | 20.54% | |
| IBERIABANK | -0.00% | 9.19% | |
| Navy Federal Credit Union | -0.00% | 0.54% | |
| Fidelity Bank LA | -0.00% | 6.49% | |
| Keesler Federal Credit Union | 0.00% | 1.08% | |
| Southwest Funding | 0.01% | 0.54% | |
| Home Point Financial Corporation | 0.01% | 0.54% | |
| Movement Mortgage | 0.01% | 0.54% | |
| Wells Fargo Bank | 0.01% | 5.95% | |
| Republic State Mortgage Co | 0.01% | 0.54% | |
| JPMorgan Chase Bank | 0.01% | 17.30% | |
| Angel Oak Home Loans | 0.02% | 1.08% | |
| Quicken Loans | 0.02% | 5.41% | |
| Home Bank National Association | 0.02% | 0.54% | |
| The Mortgage Connection | 0.02% | 0.54% | |
| America’s Mortgage Resource | 0.02% | 1.62% | |
| Caliber Home Loans | 0.03% | 2.16% | |
| Gulf Coast Bank & Trust | 0.03% | 1.62% | |
| Assurance Financial | 0.03% | 0.54% | |
| SunTrust Bank | 0.03% | 2.16% | |
| Goldwater Bank | 0.03% | 0.54% | |
| Jefferson Financial Federal Credit Union | 0.04% | 0.54% | |
| GMFS Mortgage | 0.06% | 1.62% |
* Data is compiled for the New Orleans, LA commuting zone area, which comprises of counties of Jefferson Parish, LA, Orleans Parish, LA, Plaquemines Parish, LA, St. Bernard Parish, LA, St. Charles Parish, LA, St. John the Baptist Parish, LA, St. Tammany Parish, LA, and Washington Parish, LA. This includes cities/towns/communities of New Orleans, LA as well as Metairie, LA, Slidell, LA, Covington, LA, Kenner, LA, Mandeville, LA, Madisonville, LA, Pearl River, LA, Laplace, LA, Estelle, LA, Marrero, LA, Harvey, LA, Chalmette, LA, Abita Springs, LA, Woodmere, LA, Terrytown, LA, Eden Isle, LA, River Ridge, LA, Luling, LA, Destrehan, LA, Folsom, LA, Lacombe, LA, Boutte, LA, Belle Chasse, LA, Harahan, LA, Gretna, LA, Meraux, LA, Timberlane, LA, Jefferson, LA, Sun, LA, Waggaman, LA, Elmwood, LA, Franklinton, LA, Westwego, LA, Bogalusa, LA, Arabi, LA, Avondale, LA, Reserve, LA, Norco, LA, St. Rose, LA, Angie, LA, Montz, LA, Violet, LA, Killona, LA, Port Sulphur, LA, Poydras, LA, Lafitte, LA, Barataria, LA, Garyville, LA, Wallace, LA, and Ama, LA. 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
This page contains information about the top mortgage lenders in the New Orleans, LA area. For mortgage lender rankings in other cities, click here.