Which mortgage lender in the Stamford, CT 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 Stamford, CT area by interest rate and market share. Unlike our competitors, we maintain independence by not accepting any compensation from the mortgage lenders we rank. We 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 Stamford, CT area in terms of interest rate is Homestead Funding Corp, with an average “Rate Difference” of -0.39%. This means that, comparing similar borrowers, Homestead Funding Corp provided a -0.39% lower interest rate for its customers than other lenders in the area. Homestead Funding Corp has a market share of 0.9%. On the other hand, the most popular lender in the Stamford, CT area is Quicken Loans, with a larger market share of 8.6%. However, Quicken Loans also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.21% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the Stamford, CT 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, the cheapest lender for Conventional mortgages in Stamford, CT is Homestead Funding Corp. If you want to take out a loan that is above conforming limits (for example, above $548,250 in 2021), the cheapest Jumbo mortgage provider is Citibank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is William Raveis 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 Stamford, CT
* Data is compiled for the Stamford, CT commuting zone area, which comprises of counties of Fairfield County, CT, Hartford County, CT, Litchfield County, CT, Middlesex County, CT, New Haven County, CT, New London County, CT, Tolland County, CT, and Windham County, CT. This includes cities/towns/communities of Stamford, CT as well as Norwalk, CT, Bridgeport, CT, West Hartford, CT, Danbury, CT, Milford city (balance), CT, Stratford, CT, Bristol, CT, Waterbury, CT, Meriden, CT, Shelton, CT, New Haven, CT, Trumbull, CT, New Britain, CT, Westport, CT, West Haven, CT, Middletown, CT, East Hartford, CT, Hartford, CT, Darien, CT, Newington, CT, East Haven, CT, Wethersfield, CT, Manchester, CT, Torrington, CT, North Haven, CT, Naugatuck, CT, Norwich, CT, Madison Center, CT, Ridgefield, CT, New Milford, CT, Colchester, CT, Wallingford Center, CT, Bethel, CT, Orange, CT, Kensington, CT, Ansonia, CT, Cheshire Village, CT, Glastonbury Center, CT, Riverside, CT, Windsor Locks, CT, Suffield Depot, CT, New London, CT, Canton Valley, CT, Watertown, CT, Salmon Brook, CT, Georgetown, CT, Stafford Springs, CT, Sherwood Manor, CT, Southwood Acres, CT, and Terryville, CT. 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 Stamford, CT area. For mortgage lender rankings in other cities, click here.