Which mortgage lender in the Springfield, MO 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 Springfield, MO 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 Springfield, MO area in terms of interest rate is Oakstar Bank, with an average “Rate Difference” of -0.21%. This means that, comparing similar borrowers, Oakstar Bank provided a -0.21% lower interest rate for its customers than other lenders in the area. Oakstar Bank has a market share of 8.8%. On the other hand, the most popular lender in the Springfield, MO area is Flat Branch Mortgage, with a larger market share of 9.0%. Flat Branch Mortgage 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 Springfield, MO 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 Springfield, MO is Oakstar 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 Commerce Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Oakstar Bank. The cheapest VA mortgage provider is also Oakstar 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 Springfield, MO
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Oakstar Bank | -0.08% | 3.01% | |
| Commerce Bank | -0.04% | 1.88% | |
| PennyMac Loan Services | -0.03% | 2.26% | |
| Bank of Little Rock | -0.02% | 1.50% | |
| Quicken Loans | -0.02% | 40.60% | |
| Arvest Bank | -0.01% | 1.50% | |
| Flat Branch Mortgage | -0.01% | 2.63% | |
| Great Southern Bank | -0.01% | 0.38% | |
| BancorpSouth Bank | -0.01% | 0.75% | |
| New American Funding | -0.00% | 7.14% | |
| Gershman Mortgage | 0.00% | 6.77% | |
| Central Bank of the Ozarks | 0.00% | 0.75% | |
| On Q Financial | 0.00% | 0.38% | |
| Guaranty Bank | 0.00% | 2.26% | |
| Carrington Mortgage Services | 0.00% | 5.26% | |
| PrimeLending | 0.00% | 1.13% | |
| US Bank | 0.01% | 1.13% | |
| Caliber Home Loans | 0.01% | 1.50% | |
| Wells Fargo Bank | 0.02% | 0.38% | |
| Mr. Cooper | 0.03% | 3.76% | |
| BNC National Bank | 0.03% | 0.38% | |
| loanDepot | 0.05% | 5.64% | |
| DAS Acquisition Company | 0.08% | 4.89% | |
| Freedom Mortgage Corporation | 0.09% | 4.14% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Commerce Bank | -0.03% | 4.76% | |
| Associated Bank | -0.01% | 4.76% | |
| Arvest Bank | -0.01% | 1.59% | |
| Bank of America | -0.01% | 3.17% | |
| Navy Federal Credit Union | -0.01% | 1.59% | |
| Capitol Federal Savings Bank | -0.01% | 31.75% | |
| JPMorgan Chase Bank | -0.01% | 1.59% | |
| Wells Fargo Bank | -0.01% | 6.35% | |
| Regions Bank | -0.01% | 3.17% | |
| Simmons Bank | -0.01% | 1.59% | |
| Quicken Loans | -0.00% | 3.17% | |
| US Bank | 0.00% | 7.94% | |
| loanDepot | 0.01% | 1.59% | |
| Southern Bank | 0.01% | 3.17% | |
| Central Bank of the Ozarks | 0.02% | 23.81% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.03% | 6.25% | |
| Commerce Bank | -0.03% | 6.25% | |
| Navy Federal Credit Union | -0.01% | 3.12% | |
| JPMorgan Chase Bank | -0.01% | 3.12% | |
| Simmons Bank | -0.01% | 3.12% | |
| Regions Bank | -0.01% | 3.12% | |
| Quicken Loans | -0.01% | 3.12% | |
| Capitol Federal Savings Bank | -0.00% | 34.38% | |
| Associated Bank | -0.00% | 3.12% | |
| Central Bank of the Ozarks | 0.02% | 34.38% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Associated Bank | -0.01% | 6.45% | |
| Commerce Bank | -0.01% | 3.23% | |
| Capitol Federal Savings Bank | -0.01% | 29.03% | |
| Arvest Bank | -0.01% | 3.23% | |
| Bank of America | -0.00% | 6.45% | |
| Regions Bank | -0.00% | 3.23% | |
| Quicken Loans | -0.00% | 3.23% | |
| US Bank | 0.01% | 16.13% | |
| loanDepot | 0.01% | 3.23% | |
| Central Bank of the Ozarks | 0.01% | 12.90% | |
| Southern Bank | 0.01% | 6.45% | |
| Wells Fargo Bank | 0.02% | 6.45% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Oakstar Bank | -0.16% | 7.93% | |
| Arvest Bank | -0.12% | 7.24% | |
| New American Funding | -0.08% | 5.17% | |
| PennyMac Loan Services | -0.07% | 7.24% | |
| Assemblies Of God Credit Union | -0.03% | 1.72% | |
| Servion | -0.02% | 0.69% | |
| Bank of Little Rock | -0.02% | 1.72% | |
| Caliber Home Loans | -0.02% | 3.45% | |
| Fairway Independent Mortgage Corporation | -0.02% | 1.03% | |
| Simmons Bank | -0.02% | 0.69% | |
| Gershman Mortgage | -0.02% | 4.48% | |
| USAA | -0.02% | 4.14% | |
| Navy Federal Credit Union | -0.01% | 1.72% | |
| Flat Branch Mortgage | -0.01% | 2.07% | |
| Guaranty Bank | -0.01% | 2.41% | |
| PrimeLending | -0.01% | 1.03% | |
| Great Southern Bank | -0.01% | 1.03% | |
| DAS Acquisition Company | -0.00% | 2.76% | |
| Carrington Mortgage Services | 0.00% | 1.72% | |
| BNC National Bank | 0.01% | 1.03% | |
| Central Bank of the Ozarks | 0.01% | 0.34% | |
| Commerce Bank | 0.01% | 0.34% | |
| Gateway First Bank | 0.02% | 0.34% | |
| US Bank | 0.03% | 0.34% | |
| BancorpSouth Bank | 0.03% | 0.34% | |
| loanDepot | 0.03% | 9.66% | |
| Mr. Cooper | 0.09% | 1.72% | |
| Quicken Loans | 0.10% | 21.38% | |
| Freedom Mortgage Corporation | 0.15% | 6.21% |
* Data is compiled for the Springfield, MO commuting zone area, which comprises of counties of Christian County, MO, Dallas County, MO, Greene County, MO, Hickory County, MO, Laclede County, MO, Polk County, MO, and Webster County, MO. This includes cities/towns/communities of Springfield, MO as well as Nixa, MO, Republic, MO, Ozark, MO, Lebanon, MO, Willard, MO, Highlandville, MO, Marshfield, MO, Battlefield, MO, Fremont Hills, MO, Republic, MO, Strafford, MO, Sparta, MO, Rogersville, MO, Aldrich, MO, Pleasant Hope, MO, Rogersville, MO, Conway, MO, Bolivar, MO, Fair Play, MO, Billings, MO, Stoutland, MO, Niangua, MO, Buffalo, MO, Diggins, MO, Urbana, MO, Weaubleau, MO, Walnut Grove, MO, Seymour, MO, Hermitage, MO, Fordland, MO, and Wheatland, MO. 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 Springfield, MO area. For mortgage lender rankings in other cities, click here.