Which mortgage lender in the Milwaukee, WI 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 Milwaukee, WI 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 Milwaukee, WI area in terms of interest rate is AppleTree Credit Union, with an average “Rate Difference” of -0.39%. This means that, comparing similar borrowers, AppleTree Credit Union provided a -0.39% lower interest rate for its customers than other lenders in the area. AppleTree Credit Union has a market share of 0.3%. On the other hand, the most popular lender in the Milwaukee, WI area is Landmark Credit Union, with a larger market share of 11.9%. Landmark Credit Union is also a relatively cheap lender, with a “Rate Difference” of -0.13% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Milwaukee, WI 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 Milwaukee, WI is AppleTree 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 Old National Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Wisconsin 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 Milwaukee, WI
|Lender Name||Rate Difference||Rate Rating||Market Share|
|Wells Fargo Bank||-0.04%||18.78%|
|Old National Bank||-0.03%||3.87%|
|Fifth Third Bank||-0.02%||3.31%|
|Prosperity Home Mortgage LLC||0.00%||2.21%|
|Bank of America||0.01%||1.10%|
|JPMorgan Chase Bank||0.01%||17.13%|
|Great Midwest Bank||0.01%||0.55%|
|New American Funding||0.01%||0.55%|
|NORTH SHORE BANK||0.01%||0.55%|
|First Bank Financial Centre||0.01%||0.55%|
|First Centennial Mortgage||0.02%||0.55%|
|Wisconsin Mortgage Corporation||0.02%||3.87%|
|Fairway Independent Mortgage Corporation||0.02%||2.76%|
|Bank of England AR||0.02%||0.55%|
|Panorama Mortgage Group||0.03%||1.10%|
|Stearns Home Loans||0.03%||0.55%|
|Johnson Financial Group||0.03%||1.66%|
|Cardinal Financial Company||0.03%||0.55%|
|Barrington Bank & Trust||0.04%||3.87%|
* Data is compiled for the Milwaukee, WI commuting zone area, which comprises of counties of Dodge County, WI, Jefferson County, WI, Milwaukee County, WI, Ozaukee County, WI, Washington County, WI, and Waukesha County, WI. This includes cities/towns/communities of Milwaukee, WI as well as Waukesha, WI, Wauwatosa, WI, New Berlin, WI, West Allis, WI, West Bend, WI, Menomonee Falls, WI, Brookfield, WI, Pewaukee, WI, Oconomowoc, WI, Franklin, WI, Oak Creek, WI, Muskego, WI, Mequon, WI, Greenfield, WI, Sussex, WI, Cedarburg, WI, Hartford, WI, Germantown, WI, Whitefish Bay, WI, Delafield, WI, Grafton, WI, Jackson, WI, Mukwonago, WI, South Milwaukee, WI, Richfield, WI, Beaver Dam, WI, Glendale, WI, Wales, WI, Cudahy, WI, Port Washington, WI, Greendale, WI, Brown Deer, WI, Shorewood, WI, Hartland, WI, Slinger, WI, Okauchee Lake, WI, Watertown, WI, Fort Atkinson, WI, Elm Grove, WI, Chenequa, WI, Fox Point, WI, St. Francis, WI, Eagle, WI, Watertown, WI, Merton, WI, Hales Corners, WI, Lake Mills, WI, Allenton, WI, Ixonia, WI, and Neosho, WI. 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 Milwaukee, WI area. For mortgage lender rankings in other cities, click here.