Which mortgage lender in the Henderson, KY 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 Henderson, KY 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 Henderson, KY area in terms of interest rate is Independence Bank of Kentucky, with an average “Rate Difference” of -0.05%. This means that, comparing similar borrowers, Independence Bank of Kentucky provided a -0.05% lower interest rate for its customers than other lenders in the area. Independence Bank of Kentucky has a market share of 16.5%. On the other hand, the most popular lender in the Henderson, KY area is Evansville Teachers Federal Credit Union, with a larger market share of 26.2%. Evansville Teachers Federal Credit Union is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.01% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Henderson, KY 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, Independence Bank of Kentucky is the cheapest mortgage provider for Conventional and Jumbo mortgages in Henderson, KY. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Guaranty Home Mortgage Corporation. The cheapest VA mortgage provider is Magnolia Bank. 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 Henderson, KY
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Independence Bank of Kentucky | -0.05% | 16.49% | |
| Fifth Third Bank | -0.03% | 16.92% | |
| Old National Bank | -0.01% | 7.97% | |
| Mortgage Masters of Indiana | -0.01% | 6.36% | |
| Evansville Teachers Federal Credit Union | 0.01% | 26.19% | |
| Magnolia Bank | 0.01% | 4.42% | |
| Guaranty Home Mortgage Corporation | 0.02% | 4.63% | |
| Quicken Loans | 0.06% | 12.28% | |
| US Bank | 0.06% | 4.74% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Independence Bank of Kentucky | -0.03% | 16.36% | |
| Mortgage Masters of Indiana | -0.02% | 10.84% | |
| Fifth Third Bank | -0.01% | 14.72% | |
| Magnolia Bank | -0.01% | 6.95% | |
| Old National Bank | -0.01% | 7.16% | |
| US Bank | -0.00% | 4.70% | |
| Evansville Teachers Federal Credit Union | 0.02% | 26.38% | |
| Guaranty Home Mortgage Corporation | 0.03% | 4.91% | |
| Quicken Loans | 0.05% | 7.98% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Independence Bank of Kentucky | -0.07% | 16.63% | |
| Fifth Third Bank | -0.03% | 19.36% | |
| Old National Bank | -0.01% | 8.88% | |
| Evansville Teachers Federal Credit Union | -0.00% | 25.97% | |
| Guaranty Home Mortgage Corporation | 0.01% | 4.33% | |
| Mortgage Masters of Indiana | 0.03% | 1.37% | |
| Quicken Loans | 0.07% | 17.08% | |
| Magnolia Bank | 0.07% | 1.59% | |
| US Bank | 0.13% | 4.78% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Independence Bank of Kentucky | -0.05% | 21.50% | |
| Fifth Third Bank | -0.03% | 19.80% | |
| Old National Bank | -0.01% | 9.62% | |
| Evansville Teachers Federal Credit Union | 0.00% | 26.17% | |
| Guaranty Home Mortgage Corporation | 0.03% | 4.95% | |
| US Bank | 0.06% | 5.94% | |
| Mortgage Masters of Indiana | 0.07% | 1.84% | |
| Magnolia Bank | 0.07% | 2.40% | |
| Quicken Loans | 0.10% | 7.78% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Independence Bank of Kentucky | -0.03% | 25.08% | |
| Fifth Third Bank | -0.03% | 17.87% | |
| Old National Bank | -0.01% | 9.09% | |
| US Bank | -0.00% | 6.58% | |
| Evansville Teachers Federal Credit Union | 0.02% | 23.20% | |
| Quicken Loans | 0.05% | 5.64% | |
| Mortgage Masters of Indiana | 0.05% | 4.08% | |
| Magnolia Bank | 0.06% | 3.45% | |
| Guaranty Home Mortgage Corporation | 0.06% | 5.02% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Independence Bank of Kentucky | -0.07% | 18.56% | |
| Fifth Third Bank | -0.03% | 21.39% | |
| Old National Bank | -0.01% | 10.05% | |
| Evansville Teachers Federal Credit Union | -0.00% | 28.61% | |
| Guaranty Home Mortgage Corporation | 0.01% | 4.90% | |
| Magnolia Bank | 0.08% | 1.55% | |
| US Bank | 0.13% | 5.41% | |
| Quicken Loans | 0.14% | 9.54% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Guaranty Home Mortgage Corporation | -0.04% | 3.09% | |
| Magnolia Bank | -0.04% | 9.79% | |
| Mortgage Masters of Indiana | -0.03% | 23.20% | |
| Quicken Loans | 0.01% | 25.26% | |
| Old National Bank | 0.02% | 2.58% | |
| Evansville Teachers Federal Credit Union | 0.02% | 28.35% | |
| US Bank | 0.03% | 0.52% | |
| Fifth Third Bank | 0.04% | 7.22% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Magnolia Bank | -0.05% | 11.92% | |
| Mortgage Masters of Indiana | -0.04% | 25.83% | |
| Guaranty Home Mortgage Corporation | -0.04% | 3.97% | |
| Old National Bank | 0.02% | 3.31% | |
| Evansville Teachers Federal Credit Union | 0.02% | 34.44% | |
| US Bank | 0.03% | 0.66% | |
| Fifth Third Bank | 0.04% | 7.95% | |
| Quicken Loans | 0.06% | 11.92% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.01% | 72.09% | |
| Evansville Teachers Federal Credit Union | 0.02% | 6.98% | |
| Mortgage Masters of Indiana | 0.02% | 13.95% | |
| Fifth Third Bank | 0.03% | 4.65% | |
| Magnolia Bank | 0.03% | 2.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Independence Bank of Kentucky | 0.00% | 50.00% | |
| Old National Bank | 0.00% | 50.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Old National Bank | 0.00% | 100.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Independence Bank of Kentucky | 0.00% | 100.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Magnolia Bank | -0.02% | 20.00% | |
| Fifth Third Bank | -0.00% | 12.00% | |
| US Bank | -0.00% | 4.00% | |
| Guaranty Home Mortgage Corporation | 0.00% | 8.00% | |
| Quicken Loans | 0.00% | 40.00% | |
| Evansville Teachers Federal Credit Union | 0.01% | 12.00% | |
| Mortgage Masters of Indiana | 0.02% | 4.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Magnolia Bank | -0.02% | 27.78% | |
| Fifth Third Bank | -0.00% | 16.67% | |
| US Bank | -0.00% | 5.56% | |
| Guaranty Home Mortgage Corporation | 0.00% | 11.11% | |
| Quicken Loans | 0.01% | 16.67% | |
| Evansville Teachers Federal Credit Union | 0.01% | 16.67% | |
| Mortgage Masters of Indiana | 0.02% | 5.56% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | 0.00% | 100.00% |
* Data is compiled for the Henderson, KY commuting zone area, which comprises of counties of Caldwell County, KY, Crittenden County, KY, Henderson County, KY, Hopkins County, KY, Lyon County, KY, Union County, KY, and Webster County, KY. This includes cities/towns/communities of Henderson, KY as well as Madisonville, KY, Spottsville, KY, Corydon, KY, Princeton, KY, Robards, KY, Kuttawa, KY, Nebo, KY, Slaughters, KY, White Plains, KY, Waverly, KY, Sturgis, KY, Hanson, KY, Mortons Gap, KY, Dixon, KY, Morganfield, KY, Providence, KY, Dawson Springs, KY, Marion, KY, Fredonia, KY, Dycusburg, KY, Wheatcroft, KY, Uniontown, KY, Crayne, KY, and Tolu, KY. 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 Henderson, KY area. For mortgage lender rankings in other cities, click here.