Which mortgage lender in the Asheville, NC 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 Asheville, NC 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 Asheville, NC area in terms of interest rate is First Bank NC and SC, with an average “Rate Difference” of -0.19%. This means that, comparing similar borrowers, First Bank NC and SC provided a -0.19% lower interest rate for its customers than other lenders in the area. First Bank NC and SC has a market share of 2.7%. On the other hand, the most popular lender in the Asheville, NC area is Quicken Loans, with a larger market share of 12.4%. However, Quicken Loans also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.15% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the Asheville, NC 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 Asheville, NC is First Bank NC and SC. 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 Movement 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 Asheville, NC
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.05% | 43.66% | |
| Movement Mortgage | -0.02% | 5.63% | |
| First Citizens Bank | -0.00% | 0.94% | |
| Guaranty Home Mortgage Corporation | -0.00% | 0.94% | |
| NewRez | 0.00% | 3.29% | |
| Atlantic Bay Mortgage Group | 0.00% | 0.94% | |
| Acopia Home Loans | 0.02% | 0.47% | |
| Magnolia Bank | 0.02% | 0.47% | |
| Champion Credit Union | 0.02% | 0.47% | |
| Amerisave Mortgage Corporation | 0.02% | 0.94% | |
| Union Home Mortgage | 0.02% | 0.94% | |
| Home Point Financial Corporation | 0.03% | 1.41% | |
| Carrington Mortgage Services | 0.03% | 7.98% | |
| Bay Equity Home Loans | 0.03% | 0.47% | |
| Fifth Third Bank | 0.03% | 0.47% | |
| Integrity Mortgage Group | 0.03% | 1.41% | |
| Caliber Home Loans | 0.04% | 1.88% | |
| Flagstar Bank | 0.05% | 0.47% | |
| PennyMac Loan Services | 0.05% | 4.23% | |
| Cardinal Financial Company | 0.05% | 5.16% | |
| Freedom Mortgage Corporation | 0.05% | 3.29% | |
| Highlands Residential Mortgage Ltd | 0.05% | 0.94% | |
| Guaranteed Rate | 0.06% | 1.88% | |
| ALCOVA Mortgage | 0.06% | 1.41% | |
| GoPrime Mortgage Inc | 0.07% | 0.94% | |
| loanDepot | 0.07% | 3.29% | |
| Mr. Cooper | 0.07% | 6.10% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.07% | 13.59% | |
| Truist Bank | -0.03% | 7.61% | |
| Fifth Third Bank | -0.01% | 2.17% | |
| Bank of America | -0.01% | 8.70% | |
| US Bank | -0.01% | 3.26% | |
| Navy Federal Credit Union | -0.00% | 1.09% | |
| SunTrust Bank | 0.00% | 13.59% | |
| TD Bank | 0.00% | 2.17% | |
| PrimeLending | 0.01% | 0.54% | |
| Quicken Loans | 0.01% | 3.80% | |
| GoPrime Mortgage Inc | 0.01% | 0.54% | |
| First Citizens Bank | 0.01% | 4.35% | |
| Flagstar Bank | 0.01% | 0.54% | |
| American Security Mortgage | 0.02% | 0.54% | |
| Fairway Independent Mortgage Corporation | 0.02% | 0.54% | |
| Atlantic Bay Mortgage Group | 0.02% | 1.63% | |
| HomeTrust Bank | 0.02% | 1.63% | |
| PennyMac Loan Services | 0.02% | 0.54% | |
| JPMorgan Chase Bank | 0.02% | 5.98% | |
| Movement Mortgage | 0.02% | 4.35% | |
| PNC Bank | 0.02% | 3.80% | |
| United Community Bank | 0.02% | 0.54% | |
| Guaranteed Rate | 0.03% | 4.89% | |
| First Bank NC and SC | 0.03% | 2.17% | |
| State Employees’ Credit Union | 0.03% | 1.63% | |
| Acopia Home Loans | 0.03% | 1.63% | |
| Integrity Mortgage Group | 0.04% | 1.09% | |
| United Federal Credit Union | 0.05% | 7.07% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.08% | 16.24% | |
| Truist Bank | -0.01% | 5.13% | |
| US Bank | -0.01% | 5.13% | |
| Fifth Third Bank | -0.01% | 0.85% | |
| Bank of America | -0.00% | 8.55% | |
| Navy Federal Credit Union | -0.00% | 1.71% | |
| JPMorgan Chase Bank | 0.00% | 5.98% | |
| TD Bank | 0.01% | 1.71% | |
| SunTrust Bank | 0.01% | 16.24% | |
| Quicken Loans | 0.01% | 4.27% | |
| PrimeLending | 0.01% | 0.85% | |
| GoPrime Mortgage Inc | 0.02% | 0.85% | |
| First Citizens Bank | 0.02% | 1.71% | |
| American Security Mortgage | 0.02% | 0.85% | |
| Atlantic Bay Mortgage Group | 0.02% | 1.71% | |
| Fairway Independent Mortgage Corporation | 0.02% | 0.85% | |
| PennyMac Loan Services | 0.02% | 0.85% | |
| HomeTrust Bank | 0.02% | 0.85% | |
| Movement Mortgage | 0.03% | 4.27% | |
| PNC Bank | 0.03% | 3.42% | |
| State Employees’ Credit Union | 0.03% | 0.85% | |
| Guaranteed Rate | 0.03% | 5.98% | |
| Acopia Home Loans | 0.04% | 1.71% | |
| Integrity Mortgage Group | 0.05% | 1.71% | |
| United Federal Credit Union | 0.06% | 7.69% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Truist Bank | -0.05% | 11.94% | |
| Bank of America | -0.03% | 8.96% | |
| Fifth Third Bank | -0.02% | 4.48% | |
| Wells Fargo Bank | -0.02% | 8.96% | |
| SunTrust Bank | -0.02% | 8.96% | |
| TD Bank | 0.00% | 2.99% | |
| Movement Mortgage | 0.01% | 4.48% | |
| Flagstar Bank | 0.01% | 1.49% | |
| First Citizens Bank | 0.01% | 8.96% | |
| Quicken Loans | 0.01% | 2.99% | |
| HomeTrust Bank | 0.01% | 2.99% | |
| PNC Bank | 0.01% | 4.48% | |
| Atlantic Bay Mortgage Group | 0.02% | 1.49% | |
| Guaranteed Rate | 0.02% | 2.99% | |
| United Community Bank | 0.02% | 1.49% | |
| Acopia Home Loans | 0.02% | 1.49% | |
| First Bank NC and SC | 0.03% | 5.97% | |
| State Employees’ Credit Union | 0.03% | 2.99% | |
| United Federal Credit Union | 0.04% | 5.97% | |
| JPMorgan Chase Bank | 0.05% | 5.97% |
* Data is compiled for the Asheville, NC commuting zone area, which comprises of counties of Buncombe County, NC, Haywood County, NC, Henderson County, NC, Madison County, NC, and Transylvania County, NC. This includes cities/towns/communities of Asheville, NC as well as Fletcher, NC, Hendersonville, NC, Waynesville, NC, Black Mountain, NC, Etowah, NC, Weaverville, NC, Fairview, NC, Brevard, NC, Dana, NC, Mills River, NC, Avery Creek, NC, Woodfin, NC, Royal Pines, NC, Canton, NC, Swannanoa, NC, Mars Hill, NC, Maggie Valley, NC, Valley Hill, NC, Clyde, NC, Fruitland, NC, Flat Rock, NC, Horse Shoe, NC, Mountain Home, NC, Edneyville, NC, Lake Junaluska, NC, East Flat Rock, NC, Laurel Park, NC, Saluda, NC, Rosman, NC, Balfour, NC, Marshall, NC, Biltmore Forest, NC, West Canton, NC, and Hot Springs, NC. 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 Asheville, NC area. For mortgage lender rankings in other cities, click here.