Which mortgage lender in the Florence, SC 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 Florence, SC 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 Florence, SC area in terms of interest rate is First Reliance Bank, with an average “Rate Difference” of -0.14%. This means that, comparing similar borrowers, First Reliance Bank provided a -0.14% lower interest rate for its customers than other lenders in the area. First Reliance Bank has a market share of 6.8%. On the other hand, the most popular lender in the Florence, SC area is Quicken Loans, with a larger market share of 15.4%. Quicken Loans is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.02% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Florence, SC 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 Florence, SC is First Reliance 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 SunTrust Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is First Reliance 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 Florence, SC
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Reliance Bank | -0.14% | 6.82% | |
| First Citizens Bank | -0.11% | 8.86% | |
| Truist Bank | -0.10% | 3.56% | |
| South State Bank | -0.10% | 3.31% | |
| SunTrust Bank | -0.06% | 1.83% | |
| Navy Federal Credit Union | -0.05% | 2.04% | |
| Magnolia Bank | -0.04% | 1.68% | |
| Wells Fargo Bank | -0.04% | 5.35% | |
| Resource Financial Services | -0.03% | 1.63% | |
| Movement Mortgage | -0.01% | 3.87% | |
| USAA | -0.00% | 1.73% | |
| Fairway Independent Mortgage Corporation | 0.02% | 10.03% | |
| Quicken Loans | 0.02% | 15.38% | |
| Guaranty Home Mortgage Corporation | 0.02% | 2.14% | |
| loanDepot | 0.04% | 2.85% | |
| Guild Mortgage Company | 0.04% | 1.78% | |
| LendUS LLC | 0.04% | 3.00% | |
| Mr. Cooper | 0.05% | 1.78% | |
| Guaranteed Rate | 0.06% | 8.40% | |
| Founders Federal Credit Union | 0.13% | 2.19% | |
| Finance of America Mortgage | 0.13% | 11.76% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Reliance Bank | -0.18% | 7.15% | |
| South State Bank | -0.13% | 2.85% | |
| First Citizens Bank | -0.11% | 7.84% | |
| Truist Bank | -0.10% | 2.98% | |
| Magnolia Bank | -0.07% | 1.11% | |
| SunTrust Bank | -0.07% | 2.29% | |
| Wells Fargo Bank | -0.06% | 5.48% | |
| Navy Federal Credit Union | -0.06% | 2.43% | |
| Resource Financial Services | -0.03% | 2.01% | |
| Movement Mortgage | -0.01% | 5.07% | |
| USAA | -0.00% | 1.94% | |
| Quicken Loans | -0.00% | 8.12% | |
| Fairway Independent Mortgage Corporation | 0.02% | 12.98% | |
| Guaranty Home Mortgage Corporation | 0.03% | 2.15% | |
| Mr. Cooper | 0.04% | 0.76% | |
| LendUS LLC | 0.04% | 4.09% | |
| Guild Mortgage Company | 0.04% | 2.36% | |
| Guaranteed Rate | 0.06% | 10.62% | |
| loanDepot | 0.08% | 1.73% | |
| Finance of America Mortgage | 0.14% | 14.57% | |
| Founders Federal Credit Union | 0.16% | 1.46% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Truist Bank | -0.11% | 5.16% | |
| First Citizens Bank | -0.11% | 11.66% | |
| South State Bank | -0.05% | 4.59% | |
| First Reliance Bank | -0.03% | 5.93% | |
| Magnolia Bank | -0.02% | 3.25% | |
| Navy Federal Credit Union | -0.01% | 0.96% | |
| Guaranty Home Mortgage Corporation | -0.01% | 2.10% | |
| SunTrust Bank | -0.01% | 0.57% | |
| Guild Mortgage Company | -0.00% | 0.19% | |
| Fairway Independent Mortgage Corporation | -0.00% | 1.91% | |
| Resource Financial Services | 0.00% | 0.57% | |
| loanDepot | 0.01% | 5.93% | |
| Movement Mortgage | 0.01% | 0.57% | |
| USAA | 0.01% | 1.15% | |
| Guaranteed Rate | 0.02% | 2.29% | |
| Wells Fargo Bank | 0.03% | 4.97% | |
| Quicken Loans | 0.03% | 35.37% | |
| Mr. Cooper | 0.05% | 4.59% | |
| Finance of America Mortgage | 0.06% | 4.02% | |
| Founders Federal Credit Union | 0.10% | 4.21% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Reliance Bank | -0.11% | 9.08% | |
| First Citizens Bank | -0.10% | 13.67% | |
| Truist Bank | -0.09% | 5.82% | |
| South State Bank | -0.08% | 5.38% | |
| SunTrust Bank | -0.05% | 2.73% | |
| Wells Fargo Bank | -0.02% | 8.55% | |
| Guild Mortgage Company | 0.01% | 1.23% | |
| Guaranteed Rate | 0.02% | 6.17% | |
| Resource Financial Services | 0.02% | 0.71% | |
| LendUS LLC | 0.02% | 1.68% | |
| loanDepot | 0.03% | 1.41% | |
| Movement Mortgage | 0.04% | 4.41% | |
| Fairway Independent Mortgage Corporation | 0.04% | 6.35% | |
| Magnolia Bank | 0.04% | 0.79% | |
| USAA | 0.05% | 1.41% | |
| Mr. Cooper | 0.07% | 0.71% | |
| Finance of America Mortgage | 0.08% | 8.11% | |
| Quicken Loans | 0.09% | 14.73% | |
| Guaranty Home Mortgage Corporation | 0.11% | 1.85% | |
| Navy Federal Credit Union | 0.15% | 1.41% | |
| Founders Federal Credit Union | 0.15% | 3.79% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Reliance Bank | -0.13% | 9.56% | |
| South State Bank | -0.11% | 4.78% | |
| First Citizens Bank | -0.10% | 12.40% | |
| Truist Bank | -0.08% | 5.30% | |
| SunTrust Bank | -0.04% | 3.75% | |
| Wells Fargo Bank | -0.03% | 9.17% | |
| Guild Mortgage Company | 0.02% | 1.68% | |
| Guaranteed Rate | 0.03% | 8.01% | |
| Resource Financial Services | 0.03% | 0.90% | |
| LendUS LLC | 0.03% | 2.45% | |
| loanDepot | 0.04% | 0.13% | |
| Movement Mortgage | 0.05% | 6.20% | |
| Magnolia Bank | 0.05% | 0.78% | |
| Mr. Cooper | 0.06% | 0.13% | |
| Fairway Independent Mortgage Corporation | 0.06% | 8.66% | |
| USAA | 0.07% | 1.55% | |
| Quicken Loans | 0.08% | 8.01% | |
| Finance of America Mortgage | 0.08% | 10.08% | |
| Guaranty Home Mortgage Corporation | 0.15% | 2.07% | |
| Navy Federal Credit Union | 0.19% | 1.68% | |
| Founders Federal Credit Union | 0.19% | 2.71% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Truist Bank | -0.12% | 6.94% | |
| First Citizens Bank | -0.11% | 16.39% | |
| South State Bank | -0.06% | 6.67% | |
| First Reliance Bank | -0.03% | 8.06% | |
| Fairway Independent Mortgage Corporation | -0.03% | 1.39% | |
| SunTrust Bank | -0.02% | 0.56% | |
| Guaranty Home Mortgage Corporation | -0.01% | 1.39% | |
| Guild Mortgage Company | -0.01% | 0.28% | |
| Movement Mortgage | -0.01% | 0.56% | |
| Navy Federal Credit Union | -0.01% | 0.83% | |
| USAA | 0.00% | 1.11% | |
| Resource Financial Services | 0.00% | 0.28% | |
| loanDepot | 0.00% | 4.17% | |
| Magnolia Bank | 0.03% | 0.83% | |
| Wells Fargo Bank | 0.03% | 7.22% | |
| Guaranteed Rate | 0.03% | 2.22% | |
| Mr. Cooper | 0.05% | 1.94% | |
| Finance of America Mortgage | 0.07% | 3.89% | |
| Quicken Loans | 0.07% | 29.17% | |
| Founders Federal Credit Union | 0.10% | 6.11% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Reliance Bank | -0.26% | 4.75% | |
| Magnolia Bank | -0.14% | 2.04% | |
| Movement Mortgage | -0.12% | 3.57% | |
| Guaranty Home Mortgage Corporation | -0.11% | 2.38% | |
| Quicken Loans | -0.11% | 16.13% | |
| Resource Financial Services | -0.08% | 3.06% | |
| First Citizens Bank | -0.07% | 2.72% | |
| South State Bank | -0.05% | 0.51% | |
| Fairway Independent Mortgage Corporation | -0.03% | 16.98% | |
| Mr. Cooper | 0.02% | 3.40% | |
| LendUS LLC | 0.02% | 4.75% | |
| loanDepot | 0.04% | 3.74% | |
| Guild Mortgage Company | 0.04% | 3.40% | |
| Guaranteed Rate | 0.09% | 12.73% | |
| Finance of America Mortgage | 0.16% | 19.86% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Reliance Bank | -0.28% | 5.24% | |
| Magnolia Bank | -0.18% | 1.81% | |
| Guaranty Home Mortgage Corporation | -0.15% | 2.02% | |
| Movement Mortgage | -0.13% | 4.23% | |
| Quicken Loans | -0.12% | 8.67% | |
| Resource Financial Services | -0.09% | 3.63% | |
| First Citizens Bank | -0.09% | 3.02% | |
| South State Bank | -0.06% | 0.60% | |
| Fairway Independent Mortgage Corporation | -0.05% | 19.56% | |
| Mr. Cooper | 0.00% | 1.41% | |
| LendUS LLC | 0.01% | 5.65% | |
| Guild Mortgage Company | 0.03% | 4.03% | |
| loanDepot | 0.04% | 3.23% | |
| Guaranteed Rate | 0.09% | 14.52% | |
| Finance of America Mortgage | 0.16% | 22.38% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.04% | 55.91% | |
| Magnolia Bank | 0.01% | 3.23% | |
| Guaranty Home Mortgage Corporation | 0.01% | 4.30% | |
| First Reliance Bank | 0.03% | 2.15% | |
| Guaranteed Rate | 0.04% | 3.23% | |
| First Citizens Bank | 0.05% | 1.08% | |
| Fairway Independent Mortgage Corporation | 0.06% | 3.23% | |
| Finance of America Mortgage | 0.06% | 6.45% | |
| loanDepot | 0.07% | 6.45% | |
| Mr. Cooper | 0.08% | 13.98% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| SunTrust Bank | -0.00% | 50.00% | |
| First Reliance Bank | 0.00% | 12.50% | |
| Truist Bank | 0.00% | 37.50% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| SunTrust Bank | -0.00% | 60.00% | |
| First Reliance Bank | 0.00% | 20.00% | |
| Truist Bank | 0.00% | 20.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| SunTrust Bank | 0.00% | 33.33% | |
| Truist Bank | 0.00% | 66.67% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Navy Federal Credit Union | -0.19% | 10.30% | |
| Wells Fargo Bank | -0.05% | 3.43% | |
| USAA | -0.04% | 7.73% | |
| Magnolia Bank | -0.04% | 5.15% | |
| Movement Mortgage | -0.03% | 2.15% | |
| First Reliance Bank | -0.03% | 0.86% | |
| Truist Bank | -0.02% | 0.43% | |
| South State Bank | -0.02% | 0.43% | |
| First Citizens Bank | -0.01% | 1.29% | |
| Guild Mortgage Company | -0.01% | 0.43% | |
| Guaranteed Rate | -0.00% | 8.58% | |
| Resource Financial Services | -0.00% | 2.58% | |
| SunTrust Bank | -0.00% | 0.43% | |
| loanDepot | 0.01% | 7.73% | |
| Mr. Cooper | 0.01% | 3.00% | |
| Guaranty Home Mortgage Corporation | 0.03% | 3.00% | |
| Quicken Loans | 0.05% | 17.17% | |
| LendUS LLC | 0.05% | 5.15% | |
| Fairway Independent Mortgage Corporation | 0.06% | 10.73% | |
| Finance of America Mortgage | 0.09% | 9.44% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Navy Federal Credit Union | -0.20% | 13.25% | |
| USAA | -0.04% | 9.64% | |
| Wells Fargo Bank | -0.04% | 4.82% | |
| Movement Mortgage | -0.03% | 2.41% | |
| First Reliance Bank | -0.02% | 1.20% | |
| Truist Bank | -0.02% | 0.60% | |
| South State Bank | -0.01% | 0.60% | |
| First Citizens Bank | -0.01% | 1.20% | |
| Guild Mortgage Company | -0.00% | 0.60% | |
| Guaranteed Rate | 0.00% | 11.45% | |
| Resource Financial Services | 0.00% | 2.41% | |
| SunTrust Bank | 0.01% | 0.60% | |
| Magnolia Bank | 0.01% | 0.60% | |
| Mr. Cooper | 0.01% | 1.81% | |
| Quicken Loans | 0.02% | 7.23% | |
| Guaranty Home Mortgage Corporation | 0.04% | 3.01% | |
| LendUS LLC | 0.06% | 7.23% | |
| loanDepot | 0.06% | 4.82% | |
| Fairway Independent Mortgage Corporation | 0.08% | 13.86% | |
| Finance of America Mortgage | 0.10% | 12.65% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Magnolia Bank | -0.06% | 16.42% | |
| loanDepot | -0.04% | 14.93% | |
| Navy Federal Credit Union | -0.04% | 2.99% | |
| Guaranteed Rate | -0.03% | 1.49% | |
| Resource Financial Services | -0.02% | 2.99% | |
| Guaranty Home Mortgage Corporation | -0.02% | 2.99% | |
| First Citizens Bank | -0.02% | 1.49% | |
| USAA | -0.01% | 2.99% | |
| Fairway Independent Mortgage Corporation | -0.01% | 2.99% | |
| Movement Mortgage | -0.00% | 1.49% | |
| Mr. Cooper | 0.00% | 5.97% | |
| Finance of America Mortgage | 0.01% | 1.49% | |
| Quicken Loans | 0.05% | 41.79% |
* Data is compiled for the Florence, SC commuting zone area, which comprises of counties of Chesterfield County, SC, Darlington County, SC, Dillon County, SC, Florence County, SC, Marion County, SC, and Marlboro County, SC. This includes cities/towns/communities of Florence, SC as well as Hartsville, SC, Darlington, SC, Cheraw, SC, Marion, SC, Bennettsville, SC, Pageland, SC, Pamplico, SC, North Hartsville, SC, Chesterfield, SC, Dillon, SC, Latta, SC, Mullins, SC, Lake City, SC, Johnsonville, SC, Jefferson, SC, Patrick, SC, Lake View, SC, Wallace, SC, Lamar, SC, Ruby, SC, Lydia, SC, Timmonsville, SC, Olanta, SC, McColl, SC, Society Hill, SC, Scranton, SC, McBee, SC, Blenheim, SC, Coward, SC, and Clio, SC. 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 Florence, SC area. For mortgage lender rankings in other cities, click here.