Which mortgage lender in the Modesto, CA 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 Modesto, CA 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 Modesto, CA area in terms of interest rate is Provident Funding, with an average “Rate Difference” of -0.19%. This means that, comparing similar borrowers, Provident Funding provided a -0.19% lower interest rate for its customers than other lenders in the area. Provident Funding has a market share of 0.9%. On the other hand, the most popular lender in the Modesto, CA area is Quicken Loans, with a larger market share of 12.1%. Quicken Loans 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 Modesto, CA 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 Modesto, CA is Provident Funding. 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 Home Point Financial Corporation. The cheapest VA mortgage provider is also Home Point Financial Corporation. 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 Modesto, CA
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.04% | 16.18% | |
| BBVA | -0.04% | 8.82% | |
| Golden 1 Credit Union | -0.02% | 2.21% | |
| American Pacific Mortgage | -0.01% | 2.21% | |
| US Bank | -0.01% | 6.62% | |
| Citibank | -0.00% | 1.47% | |
| PrimeLending | -0.00% | 3.68% | |
| JPMorgan Chase Bank | 0.00% | 15.44% | |
| Caliber Home Loans | 0.00% | 0.74% | |
| Bank of America | 0.00% | 4.41% | |
| Cardinal Financial Company | 0.01% | 1.47% | |
| loanDepot | 0.01% | 2.21% | |
| Supreme Lending | 0.01% | 0.74% | |
| Bank in San Ramon | 0.01% | 5.88% | |
| Union Bank | 0.01% | 1.47% | |
| Sierra Pacific Mortgage | 0.01% | 0.74% | |
| Academy Mortgage Corporation Utah | 0.02% | 2.94% | |
| HomeBridge Financial Services | 0.02% | 2.21% | |
| PRMG Mortgage | 0.02% | 0.74% | |
| Quicken Loans | 0.03% | 5.88% | |
| Primary Residential Mortgage Inc | 0.03% | 4.41% | |
| Megastar Financial Corporation | 0.03% | 0.74% | |
| Flagstar Bank | 0.05% | 2.94% | |
| Scenic Oaks Funding | 0.07% | 5.88% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.06% | 17.33% | |
| BBVA | -0.04% | 10.67% | |
| Golden 1 Credit Union | -0.02% | 2.67% | |
| Bank of America | -0.02% | 2.67% | |
| American Pacific Mortgage | -0.01% | 4.00% | |
| Citibank | -0.01% | 1.33% | |
| US Bank | -0.01% | 4.00% | |
| Quicken Loans | -0.01% | 2.67% | |
| PrimeLending | -0.00% | 2.67% | |
| Bank in San Ramon | 0.00% | 6.67% | |
| Cardinal Financial Company | 0.00% | 2.67% | |
| Union Bank | 0.01% | 1.33% | |
| Academy Mortgage Corporation Utah | 0.01% | 2.67% | |
| Sierra Pacific Mortgage | 0.01% | 1.33% | |
| HomeBridge Financial Services | 0.01% | 4.00% | |
| loanDepot | 0.02% | 1.33% | |
| PRMG Mortgage | 0.02% | 1.33% | |
| JPMorgan Chase Bank | 0.03% | 10.67% | |
| Megastar Financial Corporation | 0.03% | 1.33% | |
| Primary Residential Mortgage Inc | 0.03% | 4.00% | |
| Flagstar Bank | 0.05% | 5.33% | |
| Scenic Oaks Funding | 0.08% | 9.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| BBVA | -0.02% | 6.56% | |
| Wells Fargo Bank | -0.02% | 14.75% | |
| JPMorgan Chase Bank | -0.02% | 21.31% | |
| US Bank | -0.01% | 9.84% | |
| Golden 1 Credit Union | -0.01% | 1.64% | |
| PrimeLending | -0.00% | 4.92% | |
| loanDepot | 0.00% | 3.28% | |
| Caliber Home Loans | 0.00% | 1.64% | |
| Citibank | 0.00% | 1.64% | |
| Supreme Lending | 0.01% | 1.64% | |
| Bank of America | 0.01% | 6.56% | |
| Union Bank | 0.02% | 1.64% | |
| Academy Mortgage Corporation Utah | 0.02% | 3.28% | |
| Primary Residential Mortgage Inc | 0.02% | 4.92% | |
| Scenic Oaks Funding | 0.02% | 1.64% | |
| Bank in San Ramon | 0.03% | 4.92% | |
| Quicken Loans | 0.04% | 9.84% |
* Data is compiled for the Modesto, CA commuting zone area, which comprises of counties of Merced County, CA, Stanislaus County, CA, and Tuolumne County, CA. This includes cities/towns/communities of Modesto, CA as well as Turlock, CA, Los Banos, CA, Merced, CA, Ceres, CA, Riverbank, CA, Oakdale, CA, Franklin, CA, Atwater, CA, Patterson, CA, Cedar Ridge, CA, Salida, CA, Newman, CA, Tuttle, CA, Waterford, CA, Hughson, CA, Denair, CA, West Modesto, CA, Livingston, CA, Winton, CA, East Oakdale, CA, Sonora, CA, Bret Harte, CA, Groveland, CA, Tuttletown, CA, Tuolumne City, CA, Delhi, CA, Keyes, CA, Hilmar-Irwin, CA, Grayson, CA, Gustine, CA, Soulsbyville, CA, Dos Palos, CA, Empire, CA, Volta, CA, Hickman, CA, Chinese Camp, CA, Ballico, CA, Bystrom, CA, Planada, CA, El Nido, CA, Monterey Park Tract, CA, Le Grand, CA, Crows Landing, CA, Dos Palos Y, CA, and Stevinson, CA. 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 Modesto, CA area. For mortgage lender rankings in other cities, click here.