Which mortgage lender in the Lancaster, PA 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 Lancaster, PA 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 Lancaster, PA area in terms of interest rate is PSECU, with an average “Rate Difference” of -0.38%. This means that, comparing similar borrowers, PSECU provided a -0.38% lower interest rate for its customers than other lenders in the area. PSECU has a market share of 3.3%. On the other hand, the most popular lender in the Lancaster, PA area is Quicken Loans, with a larger market share of 8.9%. However, Quicken Loans also tends to be an expensive lender in the area, with an average “Rate Difference” of +0.19% compared to those of other lenders. We recommend shopping around before going with this popular lender.
Our detailed ranking of mortgage lenders in the Lancaster, PA 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 Lancaster, PA is PSECU. 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 Members 1st Federal Credit Union. 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 Lancaster, PA
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Bank of America | -0.04% | 10.58% | |
| Wells Fargo Bank | -0.03% | 7.69% | |
| First National Bank of Pennsylvania | -0.02% | 15.38% | |
| PNC Bank | -0.01% | 5.77% | |
| M&T Bank | -0.01% | 1.92% | |
| Fulton Bank | -0.01% | 11.54% | |
| US Bank | 0.00% | 2.88% | |
| Prosperity Home Mortgage LLC | 0.00% | 0.96% | |
| Residential Mortgage Services | 0.00% | 1.92% | |
| Meridian Bank | 0.01% | 0.96% | |
| McLean Mortgage Corporation | 0.01% | 0.96% | |
| SunTrust Bank | 0.01% | 1.92% | |
| loanDepot | 0.01% | 0.96% | |
| Guaranteed Rate | 0.01% | 0.96% | |
| TowneBank | 0.01% | 0.96% | |
| York Traditions Bank | 0.01% | 0.96% | |
| Mortgage Network, Inc | 0.01% | 0.96% | |
| Quicken Loans | 0.01% | 2.88% | |
| Fairway Independent Mortgage Corporation | 0.01% | 0.96% | |
| HomeSale Mortgage | 0.02% | 0.96% | |
| Truist Bank | 0.02% | 5.77% | |
| NVR Mortgage Finance Inc | 0.02% | 0.96% | |
| Citadel Federal Credit Union | 0.02% | 0.96% | |
| Caliber Home Loans | 0.02% | 1.92% | |
| Northpointe Bank | 0.02% | 0.96% | |
| emmloans | 0.03% | 0.96% | |
| JPMorgan Chase Bank | 0.03% | 3.85% | |
| Members 1st Federal Credit Union | 0.04% | 4.81% | |
| Northwest Bank PA | 0.04% | 2.88% | |
| Orrstown Bank | 0.10% | 4.81% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Bank of America | -0.01% | 6.56% | |
| First National Bank of Pennsylvania | -0.01% | 21.31% | |
| Northwest Bank PA | -0.01% | 8.20% | |
| Fulton Bank | -0.01% | 8.20% | |
| US Bank | 0.00% | 1.64% | |
| M&T Bank | 0.00% | 3.28% | |
| Wells Fargo Bank | 0.00% | 3.28% | |
| PNC Bank | 0.00% | 11.48% | |
| Truist Bank | 0.01% | 13.11% | |
| Quicken Loans | 0.01% | 1.64% | |
| Mortgage America | 0.01% | 1.64% | |
| Mid Penn Bank | 0.01% | 1.64% | |
| Santander Bank | 0.01% | 1.64% | |
| Caliber Home Loans | 0.01% | 1.64% | |
| ACNB Bank | 0.01% | 1.64% | |
| Firstrust Bank | 0.01% | 1.64% | |
| Residential Mortgage Services | 0.01% | 3.28% | |
| SunTrust Bank | 0.02% | 1.64% | |
| Members 1st Federal Credit Union | 0.02% | 1.64% | |
| Orrstown Bank | 0.03% | 1.64% | |
| Cardinal Financial Company | 0.03% | 1.64% | |
| S&T Bank | 0.03% | 1.64% |
* Data is compiled for the Lancaster, PA commuting zone area, which comprises of counties of Adams County, PA, Cumberland County, PA, Dauphin County, PA, Lancaster County, PA, Lebanon County, PA, Perry County, PA, and York County, PA. This includes cities/towns/communities of Lancaster, PA as well as New Kingstown, PA, Weigelstown, PA, Millersville, PA, Harrisburg, PA, York, PA, Rheems, PA, Willow Street, PA, Spry, PA, Shiloh, PA, Schlusser, PA, Rothsville, PA, Linglestown, PA, Lebanon, PA, Ephrata, PA, Hanover, PA, Hershey, PA, Skyline View, PA, Carlisle, PA, Middletown, PA, Progress, PA, Colonial Park, PA, Dillsburg, PA, Stonybrook, PA, Sand Hill, PA, Enola, PA, Carroll Valley, PA, Boiling Springs, PA, Lake Meade, PA, East York, PA, Landisville, PA, Shrewsbury, PA, Lititz, PA, Campbelltown, PA, North York, PA, Paxtonia, PA, Salunga, PA, Elizabethtown, PA, Columbia, PA, Swartzville, PA, Jacobus, PA, New Cumberland, PA, Penryn, PA, Mount Joy, PA, Parkville, PA, Valley Green, PA, Camp Hill, PA, Maytown, PA, Lower Allen, PA, Pleasant Hill, PA, and Stewartstown, PA. 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 Lancaster, PA area. For mortgage lender rankings in other cities, click here.