Which mortgage lender in the Toledo, OH 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 Toledo, OH 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 Toledo, OH area in terms of interest rate is Premier Bank, with an average “Rate Difference” of -0.21%. This means that, comparing similar borrowers, Premier Bank provided a -0.21% lower interest rate for its customers than other lenders in the area. Premier Bank has a market share of 3.5%. On the other hand, the most popular lender in the Toledo, OH area is Quicken Loans, with a larger market share of 12.0%. However, Quicken Loans also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.14% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the Toledo, OH 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 Toledo, OH is Premier 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 Bank of America. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Huntington National 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 Toledo, OH
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Huntington National Bank | -0.15% | 7.51% | |
| Caliber Home Loans | -0.03% | 4.29% | |
| Mid America Mortgage | -0.03% | 1.07% | |
| Fifth Third Bank | -0.03% | 1.72% | |
| Carrington Mortgage Services | -0.02% | 8.15% | |
| Union Home Mortgage | -0.02% | 1.72% | |
| State Bank and Trust Company | -0.02% | 0.43% | |
| Land Home Financial Services | -0.02% | 0.43% | |
| Equity Resources | -0.01% | 2.36% | |
| Lakeview Loan Servicing | -0.01% | 2.58% | |
| Fairway Independent Mortgage Corporation | -0.01% | 1.50% | |
| New American Funding | -0.01% | 0.86% | |
| KeyBank | -0.01% | 1.29% | |
| NewRez | -0.00% | 0.21% | |
| US Bank | -0.00% | 0.21% | |
| The Union Bank Co | -0.00% | 0.21% | |
| Quicken Loans | -0.00% | 37.98% | |
| Navy Federal Credit Union | 0.01% | 0.21% | |
| GVC Mortgage | 0.01% | 0.21% | |
| PrimeLending | 0.02% | 0.86% | |
| Amerifirst Home Mortgage | 0.02% | 0.21% | |
| Nations Lending Corporation | 0.02% | 12.66% | |
| Benchmark | 0.03% | 0.64% | |
| Mortgage 1 Inc | 0.03% | 0.64% | |
| Flagstar Bank | 0.06% | 0.64% | |
| loanDepot | 0.07% | 2.36% | |
| Freedom Mortgage Corporation | 0.08% | 2.58% | |
| Hometown Lenders | 0.13% | 1.50% | |
| Mr. Cooper | 0.14% | 4.94% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Bank of America | -0.01% | 3.12% | |
| JPMorgan Chase Bank | -0.01% | 12.50% | |
| Fifth Third Bank | -0.01% | 28.12% | |
| Huntington National Bank | -0.01% | 12.50% | |
| PNC Bank | 0.00% | 6.25% | |
| First Federal Lakewood | 0.01% | 6.25% | |
| Wells Fargo Bank | 0.01% | 3.12% | |
| KeyBank | 0.01% | 18.75% | |
| Genoa Banking Company | 0.03% | 6.25% | |
| Flagstar Bank | 0.03% | 3.12% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| JPMorgan Chase Bank | -0.01% | 22.22% | |
| Huntington National Bank | -0.01% | 16.67% | |
| KeyBank | 0.00% | 22.22% | |
| Fifth Third Bank | 0.01% | 22.22% | |
| Wells Fargo Bank | 0.01% | 5.56% | |
| First Federal Lakewood | 0.01% | 5.56% | |
| Flagstar Bank | 0.03% | 5.56% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Fifth Third Bank | -0.02% | 35.71% | |
| Bank of America | -0.01% | 7.14% | |
| Huntington National Bank | -0.00% | 7.14% | |
| First Federal Lakewood | 0.00% | 7.14% | |
| PNC Bank | 0.00% | 14.29% | |
| KeyBank | 0.02% | 14.29% | |
| Genoa Banking Company | 0.03% | 14.29% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Caliber Home Loans | -0.12% | 6.61% | |
| Equity Resources | -0.12% | 7.93% | |
| Huntington National Bank | -0.08% | 5.73% | |
| Navy Federal Credit Union | -0.06% | 3.08% | |
| Mid America Mortgage | -0.06% | 3.08% | |
| loanDepot | -0.05% | 10.13% | |
| USAA | -0.04% | 3.52% | |
| Nations Lending Corporation | -0.03% | 3.08% | |
| Fifth Third Bank | -0.03% | 2.20% | |
| Land Home Financial Services | -0.03% | 0.44% | |
| Lakeview Loan Servicing | -0.02% | 1.32% | |
| New American Funding | -0.02% | 1.32% | |
| First Federal Lakewood | -0.01% | 0.44% | |
| Hallmark Home Mortgage | -0.01% | 0.88% | |
| PrimeLending | -0.01% | 0.88% | |
| Union Home Mortgage | -0.01% | 2.20% | |
| Amerifirst Home Mortgage | -0.01% | 0.44% | |
| Benchmark | -0.00% | 0.44% | |
| Wells Fargo Bank | -0.00% | 0.44% | |
| Flagstar Bank | 0.01% | 2.20% | |
| Ruoff Mortgage | 0.01% | 0.44% | |
| Fairway Independent Mortgage Corporation | 0.01% | 0.88% | |
| Freedom Mortgage Corporation | 0.05% | 3.08% | |
| Carrington Mortgage Services | 0.05% | 3.08% | |
| Quicken Loans | 0.09% | 33.04% | |
| Mr. Cooper | 0.09% | 3.08% |
* Data is compiled for the Toledo, OH commuting zone area, which comprises of counties of Monroe County, MI, Lucas County, OH, Ottawa County, OH, Sandusky County, OH, and Wood County, OH. This includes cities/towns/communities of Toledo, OH as well as Sylvania, OH, Maumee, OH, Perrysburg, OH, Monroe, MI, Lambertville, MI, Bowling Green, OH, Oregon, OH, Temperance, MI, Holland, OH, Haskins, OH, Rossford, OH, South Monroe, MI, Dundee, MI, Whitehouse, OH, Port Clinton, OH, Waterville, OH, Estral Beach, MI, Ottawa Hills, OH, Millbury, OH, Stony Point, MI, Fremont, OH, Northwood, OH, Detroit Beach, MI, Maybee, MI, Elmore, OH, Bellevue, OH, Clyde, OH, Curtice, OH, Marblehead, OH, Carleton, MI, Petersburg, MI, Grand Rapids, OH, Luckey, OH, West Monroe, MI, Milan, MI, Genoa, OH, Bloomdale, OH, Walbridge, OH, Bradner, OH, Luna Pier, MI, North Baltimore, OH, South Rockwood, MI, Pemberville, OH, Woodville, OH, Neapolis, OH, Gibsonburg, OH, Ballville, OH, Swanton, OH, Curtice, OH, and Weston, OH. 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 Toledo, OH area. For mortgage lender rankings in other cities, click here.