Which mortgage lender in the Savannah, GA 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 Savannah, GA 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 Savannah, GA area in terms of interest rate is Ameris Bank, with an average “Rate Difference” of -0.17%. This means that, comparing similar borrowers, Ameris Bank provided a -0.17% lower interest rate for its customers than other lenders in the area. Ameris Bank has a market share of 5.1%. On the other hand, the most popular lender in the Savannah, GA area is Quicken Loans, with a larger market share of 10.9%. Quicken Loans is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.07% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Savannah, GA 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 Savannah, GA is Ameris 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 Synovus Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Ameris Bank. 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 Savannah, GA
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Synovus Bank | -0.03% | 21.70% | |
| Bank of America | -0.01% | 5.66% | |
| SunTrust Bank | -0.01% | 15.09% | |
| Truist Bank | -0.00% | 10.38% | |
| Fairway Independent Mortgage Corporation | 0.00% | 0.94% | |
| JPMorgan Chase Bank | 0.00% | 4.72% | |
| Guaranteed Rate | 0.01% | 0.94% | |
| Ameris Bank | 0.01% | 4.72% | |
| New American Funding | 0.01% | 0.94% | |
| CenterState Bank | 0.01% | 1.89% | |
| United Community Bank | 0.01% | 0.94% | |
| Quicken Loans | 0.01% | 2.83% | |
| Wells Fargo Bank | 0.02% | 12.26% | |
| PrimeLending | 0.02% | 0.94% | |
| South State Bank | 0.02% | 3.77% | |
| Certainty Home Loans | 0.02% | 2.83% | |
| Southeast Mortgage of Georgia | 0.03% | 0.94% | |
| Navy Federal Credit Union | 0.03% | 1.89% | |
| Renasant Bank | 0.03% | 0.94% | |
| Caliber Home Loans | 0.04% | 0.94% | |
| BankSouth Mortgage | 0.04% | 4.72% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Synovus Bank | -0.04% | 18.57% | |
| Truist Bank | -0.01% | 10.00% | |
| Bank of America | -0.01% | 5.71% | |
| SunTrust Bank | -0.01% | 21.43% | |
| Fairway Independent Mortgage Corporation | 0.01% | 1.43% | |
| Guaranteed Rate | 0.01% | 1.43% | |
| South State Bank | 0.01% | 1.43% | |
| JPMorgan Chase Bank | 0.02% | 2.86% | |
| New American Funding | 0.02% | 1.43% | |
| Ameris Bank | 0.02% | 2.86% | |
| CenterState Bank | 0.02% | 2.86% | |
| United Community Bank | 0.02% | 1.43% | |
| Quicken Loans | 0.02% | 4.29% | |
| PrimeLending | 0.02% | 1.43% | |
| Certainty Home Loans | 0.03% | 2.86% | |
| Southeast Mortgage of Georgia | 0.03% | 1.43% | |
| Wells Fargo Bank | 0.03% | 12.86% | |
| Navy Federal Credit Union | 0.04% | 2.86% | |
| Caliber Home Loans | 0.04% | 1.43% | |
| BankSouth Mortgage | 0.04% | 1.43% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Synovus Bank | -0.02% | 27.78% | |
| Wells Fargo Bank | -0.02% | 11.11% | |
| Bank of America | -0.01% | 5.56% | |
| JPMorgan Chase Bank | -0.01% | 8.33% | |
| SunTrust Bank | -0.01% | 2.78% | |
| Ameris Bank | 0.00% | 8.33% | |
| Certainty Home Loans | 0.01% | 2.78% | |
| South State Bank | 0.02% | 8.33% | |
| Truist Bank | 0.02% | 11.11% | |
| Renasant Bank | 0.03% | 2.78% | |
| BankSouth Mortgage | 0.03% | 11.11% |
* Data is compiled for the Savannah, GA commuting zone area, which comprises of counties of Bryan County, GA, Chatham County, GA, Effingham County, GA, Evans County, GA, Liberty County, GA, Long County, GA, Tattnall County, GA, and Wayne County, GA. This includes cities/towns/communities of Savannah, GA as well as Pooler, GA, Richmond Hill, GA, Rincon, GA, Hinesville, GA, Wilmington Island, GA, Skidaway Island, GA, Georgetown, GA, Springfield, GA, Guyton, GA, Whitemarsh Island, GA, Jesup, GA, Midway, GA, Flemington, GA, Gumbranch, GA, Tybee Island, GA, Walthourville, GA, Montgomery, GA, Vernonburg, GA, Isle of Hope, GA, Ludowici, GA, Glennville, GA, Odum, GA, Pembroke, GA, Garden City, GA, Thunderbolt, GA, Screven, GA, Allenhurst, GA, Hagan, GA, Collins, GA, Riceboro, GA, Manassas, GA, Reidsville, GA, Claxton, GA, and Fort Stewart, GA. 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 Savannah, GA area. For mortgage lender rankings in other cities, click here.