Which mortgage lender in the Jacksonville, FL 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 Jacksonville, FL 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 Jacksonville, FL area in terms of interest rate is Community First Credit Union of Florida, with an average “Rate Difference” of -0.62%. This means that, comparing similar borrowers, Community First Credit Union of Florida provided a -0.62% lower interest rate for its customers than other lenders in the area. Community First Credit Union of Florida has a market share of 2.4%. On the other hand, the most popular lender in the Jacksonville, FL area is Quicken Loans, with a larger market share of 8.7%. However, Quicken Loans also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.13% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the Jacksonville, FL 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 Jacksonville, FL is Community First Credit Union of Florida. 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 HomeAmerican Mortgage Corporation. 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 Jacksonville, FL
|Lender Name||Rate Difference||Rate Rating||Market Share|
|Bank of America||-0.05%||11.79%|
|Fifth Third Bank||-0.04%||2.05%|
|VyStar Credit Union||-0.03%||14.36%|
|Community First Credit Union of Florida||-0.03%||2.05%|
|Wells Fargo Bank||-0.01%||3.08%|
|Bank of England AR||0.00%||0.51%|
|First Federal Bank of Florida||0.00%||1.03%|
|Hancock Whitney Bank||0.01%||2.56%|
|Fairway Independent Mortgage Corporation||0.01%||0.51%|
|JAX Federal Credit Union||0.01%||1.03%|
|R P Funding||0.01%||0.51%|
|North American Savings Bank||0.01%||0.51%|
|Navy Federal Credit Union||0.02%||1.54%|
|121 Financial Credit Union||0.03%||1.03%|
|JPMorgan Chase Bank||0.04%||6.67%|
* Data is compiled for the Jacksonville, FL commuting zone area, which comprises of counties of Baker County, FL, Bradford County, FL, Clay County, FL, Duval County, FL, Nassau County, FL, Putnam County, FL, St. Johns County, FL, Union County, FL, Camden County, GA, and Charlton County, GA. This includes cities/towns/communities of Jacksonville, FL as well as World Golf Village, FL, Fruit Cove, FL, Nocatee, FL, Oakleaf Plantation, FL, Yulee, FL, St. Marys, GA, Fleming Island, FL, Fernandina Beach, FL, Jacksonville Beach, FL, Lakeside, FL, St. Augustine Shores, FL, Palm Valley, FL, Asbury Lake, FL, St. Augustine, FL, Green Cove Springs, FL, Kingsland, GA, St. Augustine Beach, FL, Orange Park, FL, Middleburg, FL, Atlantic Beach, FL, Macclenny, FL, Keystone Heights, FL, Interlachen, FL, Villano Beach, FL, Butler Beach, FL, Palatka, FL, Sawgrass, FL, Neptune Beach, FL, Nassau Village-Ratliff, FL, Starke, FL, Bellair-Meadowbrook Terrace, FL, Callahan, FL, Hilliard, FL, Hampton, FL, Hastings, FL, Glen St. Mary, FL, Homeland, GA, Welaka, FL, Pomona Park, FL, Lake Butler, FL, Crescent Beach, FL, Lawtey, FL, East Palatka, FL, Worthington Springs, FL, Crescent City, FL, and Raiford, FL. 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 Jacksonville, FL area. For mortgage lender rankings in other cities, click here.