Which mortgage lender in the Buffalo, NY 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 Buffalo, NY 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 Buffalo, NY area in terms of interest rate is Five Star Bank, with an average “Rate Difference” of -0.24%. This means that, comparing similar borrowers, Five Star Bank provided a -0.24% lower interest rate for its customers than other lenders in the area. Five Star Bank has a market share of 4.3%. On the other hand, the most popular lender in the Buffalo, NY area is M&T Bank, with a larger market share of 14.5%. M&T Bank is an average lender in terms of the interest rate it offers, with a “Rate Difference” of -0.06% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Buffalo, NY 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 Buffalo, NY is SEFCU. 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 Premium 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 Buffalo, NY
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Premium Mortgage Corporation | -0.20% | 12.05% | |
| M&T Bank | -0.17% | 8.21% | |
| Freedom Mortgage Corporation | -0.16% | 2.09% | |
| Home Point Financial Corporation | -0.12% | 2.37% | |
| Five Star Bank | -0.12% | 1.38% | |
| Supreme Lending | -0.11% | 1.22% | |
| Northwest Bank PA | -0.08% | 0.20% | |
| 1st Priority Mortgage, Inc | -0.08% | 8.02% | |
| SEFCU | -0.06% | 0.75% | |
| Bank of America | -0.05% | 0.51% | |
| NewRez | -0.05% | 0.79% | |
| Reliance First Capital | -0.02% | 0.55% | |
| KeyBank | -0.02% | 1.78% | |
| Navy Federal Credit Union | -0.01% | 0.04% | |
| Caliber Home Loans | -0.01% | 1.46% | |
| Plaza Home Mortgage | -0.00% | 1.38% | |
| HSBC Bank USA | 0.00% | 0.04% | |
| NVR Mortgage Finance Inc | 0.01% | 0.24% | |
| Barrington Bank & Trust | 0.02% | 0.16% | |
| Wells Fargo Bank | 0.03% | 0.20% | |
| Mr. Cooper | 0.03% | 9.76% | |
| Movement Mortgage | 0.04% | 2.65% | |
| Guaranteed Rate | 0.04% | 1.42% | |
| Flagstar Bank | 0.05% | 1.66% | |
| Carrington Mortgage Services | 0.06% | 1.30% | |
| Quicken Loans | 0.06% | 22.71% | |
| Royal United Mortgage | 0.07% | 0.51% | |
| loanDepot | 0.07% | 1.90% | |
| PrimeLending | 0.09% | 2.53% | |
| Homestead Funding Corp | 0.09% | 1.66% | |
| Hunt Mortgage Corporation | 0.28% | 10.47% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Freedom Mortgage Corporation | -0.21% | 2.14% | |
| M&T Bank | -0.20% | 9.06% | |
| Premium Mortgage Corporation | -0.20% | 16.02% | |
| Home Point Financial Corporation | -0.13% | 3.00% | |
| Supreme Lending | -0.12% | 1.50% | |
| Five Star Bank | -0.12% | 1.88% | |
| Northwest Bank PA | -0.08% | 0.27% | |
| 1st Priority Mortgage, Inc | -0.08% | 10.83% | |
| SEFCU | -0.06% | 1.02% | |
| Bank of America | -0.05% | 0.70% | |
| NewRez | -0.05% | 0.75% | |
| Mr. Cooper | -0.05% | 8.15% | |
| loanDepot | -0.03% | 0.48% | |
| KeyBank | -0.02% | 2.30% | |
| Reliance First Capital | -0.02% | 0.05% | |
| Navy Federal Credit Union | -0.01% | 0.05% | |
| Caliber Home Loans | -0.01% | 1.88% | |
| Plaza Home Mortgage | -0.00% | 1.77% | |
| NVR Mortgage Finance Inc | 0.01% | 0.32% | |
| Barrington Bank & Trust | 0.02% | 0.21% | |
| Wells Fargo Bank | 0.03% | 0.27% | |
| Movement Mortgage | 0.04% | 3.32% | |
| Guaranteed Rate | 0.05% | 1.61% | |
| Flagstar Bank | 0.05% | 1.98% | |
| Royal United Mortgage | 0.06% | 0.27% | |
| PrimeLending | 0.09% | 3.32% | |
| Homestead Funding Corp | 0.10% | 2.14% | |
| Carrington Mortgage Services | 0.10% | 0.32% | |
| Hunt Mortgage Corporation | 0.28% | 14.04% | |
| Quicken Loans | 0.28% | 10.34% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.05% | 57.36% | |
| M&T Bank | -0.05% | 5.86% | |
| NewRez | -0.05% | 0.90% | |
| Supreme Lending | -0.04% | 0.45% | |
| Premium Mortgage Corporation | -0.03% | 0.90% | |
| Reliance First Capital | -0.02% | 1.95% | |
| Home Point Financial Corporation | -0.01% | 0.60% | |
| Homestead Funding Corp | -0.01% | 0.30% | |
| 1st Priority Mortgage, Inc | -0.01% | 0.15% | |
| KeyBank | -0.00% | 0.30% | |
| Movement Mortgage | 0.00% | 0.75% | |
| Caliber Home Loans | 0.00% | 0.30% | |
| Plaza Home Mortgage | 0.00% | 0.30% | |
| HSBC Bank USA | 0.01% | 0.15% | |
| Flagstar Bank | 0.01% | 0.75% | |
| Hunt Mortgage Corporation | 0.02% | 0.45% | |
| Freedom Mortgage Corporation | 0.02% | 1.95% | |
| PrimeLending | 0.03% | 0.30% | |
| Guaranteed Rate | 0.03% | 0.90% | |
| Carrington Mortgage Services | 0.05% | 4.05% | |
| Royal United Mortgage | 0.08% | 1.20% | |
| loanDepot | 0.10% | 5.86% | |
| Mr. Cooper | 0.16% | 14.26% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.04% | 8.87% | |
| M&T Bank | -0.02% | 36.29% | |
| Bank of America | -0.01% | 6.45% | |
| Akron | 0.01% | 0.81% | |
| 1st Priority Mortgage, Inc | 0.01% | 1.61% | |
| Homestead Funding Corp | 0.01% | 0.81% | |
| JPMorgan Chase Bank | 0.01% | 0.81% | |
| CNB Bank | 0.01% | 1.61% | |
| PrimeLending | 0.01% | 2.42% | |
| Hunt Mortgage Corporation | 0.02% | 0.81% | |
| Five Star Bank | 0.02% | 3.23% | |
| Northwest Bank PA | 0.02% | 8.87% | |
| KeyBank | 0.03% | 26.61% | |
| Movement Mortgage | 0.04% | 0.81% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.04% | 10.71% | |
| M&T Bank | -0.03% | 35.71% | |
| Bank of America | -0.01% | 7.14% | |
| Homestead Funding Corp | 0.02% | 1.19% | |
| JPMorgan Chase Bank | 0.02% | 1.19% | |
| 1st Priority Mortgage, Inc | 0.02% | 1.19% | |
| PrimeLending | 0.02% | 3.57% | |
| Hunt Mortgage Corporation | 0.02% | 1.19% | |
| Northwest Bank PA | 0.02% | 7.14% | |
| Five Star Bank | 0.03% | 2.38% | |
| KeyBank | 0.04% | 27.38% | |
| Movement Mortgage | 0.05% | 1.19% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.02% | 5.00% | |
| Bank of America | -0.02% | 5.00% | |
| M&T Bank | -0.01% | 37.50% | |
| 1st Priority Mortgage, Inc | -0.01% | 2.50% | |
| Five Star Bank | -0.00% | 5.00% | |
| Akron | -0.00% | 2.50% | |
| CNB Bank | -0.00% | 5.00% | |
| Northwest Bank PA | 0.01% | 12.50% | |
| KeyBank | 0.02% | 25.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Navy Federal Credit Union | -0.29% | 6.84% | |
| loanDepot | -0.14% | 4.04% | |
| M&T Bank | -0.13% | 4.04% | |
| Premium Mortgage Corporation | -0.11% | 12.33% | |
| 1st Priority Mortgage, Inc | -0.04% | 5.04% | |
| KeyBank | -0.03% | 1.12% | |
| Five Star Bank | -0.02% | 1.12% | |
| Reliance First Capital | -0.02% | 0.90% | |
| Plaza Home Mortgage | -0.02% | 1.12% | |
| Home Point Financial Corporation | -0.01% | 0.67% | |
| Carrington Mortgage Services | -0.01% | 1.57% | |
| NewRez | -0.00% | 0.45% | |
| SEFCU | -0.00% | 0.56% | |
| Freedom Mortgage Corporation | -0.00% | 0.90% | |
| Mr. Cooper | 0.00% | 4.93% | |
| Supreme Lending | 0.01% | 0.22% | |
| Caliber Home Loans | 0.01% | 0.56% | |
| Bank of America | 0.02% | 0.11% | |
| PrimeLending | 0.03% | 1.23% | |
| Homestead Funding Corp | 0.03% | 2.35% | |
| Wells Fargo Bank | 0.04% | 1.35% | |
| Royal United Mortgage | 0.04% | 0.78% | |
| Guaranteed Rate | 0.04% | 1.12% | |
| USAA | 0.05% | 11.55% | |
| Movement Mortgage | 0.05% | 1.68% | |
| NVR Mortgage Finance Inc | 0.06% | 0.78% | |
| Hunt Mortgage Corporation | 0.08% | 8.07% | |
| Barrington Bank & Trust | 0.09% | 3.03% | |
| Flagstar Bank | 0.10% | 2.35% | |
| Quicken Loans | 0.14% | 19.17% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Navy Federal Credit Union | -0.29% | 9.26% | |
| M&T Bank | -0.13% | 5.29% | |
| Premium Mortgage Corporation | -0.10% | 17.52% | |
| 1st Priority Mortgage, Inc | -0.02% | 7.44% | |
| KeyBank | -0.01% | 1.65% | |
| Five Star Bank | -0.01% | 1.49% | |
| Plaza Home Mortgage | 0.01% | 1.32% | |
| Freedom Mortgage Corporation | 0.01% | 0.33% | |
| Home Point Financial Corporation | 0.02% | 0.50% | |
| SEFCU | 0.02% | 0.50% | |
| Mr. Cooper | 0.02% | 4.63% | |
| Supreme Lending | 0.03% | 0.33% | |
| loanDepot | 0.03% | 0.50% | |
| NewRez | 0.04% | 0.33% | |
| Bank of America | 0.04% | 0.17% | |
| Royal United Mortgage | 0.05% | 0.17% | |
| PrimeLending | 0.05% | 1.82% | |
| Carrington Mortgage Services | 0.05% | 0.33% | |
| Homestead Funding Corp | 0.06% | 3.14% | |
| Wells Fargo Bank | 0.06% | 1.82% | |
| Caliber Home Loans | 0.06% | 0.50% | |
| Guaranteed Rate | 0.06% | 1.49% | |
| NVR Mortgage Finance Inc | 0.08% | 1.16% | |
| Movement Mortgage | 0.09% | 1.98% | |
| Hunt Mortgage Corporation | 0.10% | 11.57% | |
| USAA | 0.12% | 13.06% | |
| Quicken Loans | 0.12% | 5.45% | |
| Barrington Bank & Trust | 0.13% | 3.80% | |
| Flagstar Bank | 0.16% | 2.48% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| loanDepot | -0.20% | 11.50% | |
| USAA | -0.14% | 8.36% | |
| Caliber Home Loans | -0.07% | 0.70% | |
| Plaza Home Mortgage | -0.07% | 0.70% | |
| NewRez | -0.07% | 0.70% | |
| Reliance First Capital | -0.07% | 2.79% | |
| Home Point Financial Corporation | -0.06% | 1.05% | |
| Flagstar Bank | -0.06% | 2.09% | |
| Carrington Mortgage Services | -0.06% | 4.18% | |
| M&T Bank | -0.05% | 1.39% | |
| Barrington Bank & Trust | -0.05% | 1.39% | |
| SEFCU | -0.05% | 0.70% | |
| Five Star Bank | -0.05% | 0.35% | |
| Movement Mortgage | -0.05% | 1.05% | |
| Navy Federal Credit Union | -0.04% | 1.74% | |
| Premium Mortgage Corporation | -0.04% | 1.39% | |
| Freedom Mortgage Corporation | -0.04% | 2.09% | |
| Hunt Mortgage Corporation | -0.04% | 0.70% | |
| Guaranteed Rate | -0.04% | 0.35% | |
| Mr. Cooper | -0.03% | 5.57% | |
| Wells Fargo Bank | -0.03% | 0.35% | |
| Homestead Funding Corp | -0.03% | 0.70% | |
| Royal United Mortgage | -0.00% | 2.09% | |
| Quicken Loans | 0.10% | 48.08% |
* Data is compiled for the Buffalo, NY commuting zone area, which comprises of counties of Allegany County, NY, Cattaraugus County, NY, Erie County, NY, Genesee County, NY, Niagara County, NY, and Wyoming County, NY. This includes cities/towns/communities of Buffalo, NY as well as Tonawanda, NY, Cheektowaga, NY, West Seneca, NY, North Tonawanda, NY, Niagara Falls, NY, Orchard Park, NY, Hamburg, NY, Eggertsville, NY, Wanakah, NY, Lockport, NY, Kenmore, NY, Williamsville, NY, Depew, NY, Sanborn, NY, Elma Center, NY, Harris Hill, NY, Grandyle Village, NY, Billington Heights, NY, Lancaster, NY, Rapids, NY, Batavia, NY, Lackawanna, NY, Town Line, NY, Clarence, NY, South Lockport, NY, East Aurora, NY, North Boston, NY, Akron, NY, Ransomville, NY, Clarence Center, NY, Angola on the Lake, NY, Le Roy, NY, Gasport, NY, Olean, NY, Ellicottville, NY, Eden, NY, Corfu, NY, Newfane, NY, Bergen, NY, Strykersville, NY, Oakfield, NY, North Collins, NY, Warsaw, NY, Lake Erie Beach, NY, Alexander, NY, West Valley, NY, Belfast, NY, Holland, NY, Springville, NY, and Youngstown, NY. 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
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