Which mortgage lender in the Winona Lake, IN 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 Winona Lake, IN 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 Winona Lake, IN area in terms of interest rate is Beacon Credit Union, with an average “Rate Difference” of -0.17%. This means that, comparing similar borrowers, Beacon Credit Union provided a -0.17% lower interest rate for its customers than other lenders in the area. Beacon Credit Union has a market share of 5.9%. On the other hand, the most popular lender in the Winona Lake, IN area is Ruoff Mortgage, with a larger market share of 25.4%. Ruoff Mortgage 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 Winona Lake, IN 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 Winona Lake, IN is Beacon Credit Union. 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 Interra Credit Union. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is PNC Bank. The cheapest VA mortgage provider is also PNC 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 Winona Lake, IN
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Beacon Credit Union | -0.17% | 5.91% | |
| Interra Credit Union | -0.07% | 2.95% | |
| 1st Source Bank | -0.05% | 3.42% | |
| Lake City Bank | -0.05% | 8.62% | |
| Ruoff Mortgage | -0.02% | 25.41% | |
| First Federal Savings Bank of Rochester, IN | 0.00% | 20.44% | |
| First Farmers Bank & Trust | 0.01% | 2.56% | |
| PNC Bank | 0.01% | 3.65% | |
| JPMorgan Chase Bank | 0.01% | 2.56% | |
| Hallmark Home Mortgage | 0.03% | 2.80% | |
| Teachers Credit Union | 0.04% | 4.74% | |
| Quicken Loans | 0.11% | 10.18% | |
| Union Home Mortgage | 0.13% | 6.76% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Beacon Credit Union | -0.07% | 2.96% | |
| 1st Source Bank | -0.05% | 2.96% | |
| Interra Credit Union | -0.04% | 2.19% | |
| First Federal Savings Bank of Rochester, IN | -0.03% | 20.88% | |
| Ruoff Mortgage | -0.02% | 34.41% | |
| PNC Bank | -0.02% | 3.09% | |
| Teachers Credit Union | -0.01% | 1.80% | |
| Lake City Bank | -0.01% | 7.60% | |
| JPMorgan Chase Bank | 0.02% | 2.19% | |
| First Farmers Bank & Trust | 0.03% | 1.93% | |
| Hallmark Home Mortgage | 0.03% | 3.61% | |
| Quicken Loans | 0.07% | 6.44% | |
| Union Home Mortgage | 0.15% | 9.92% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Beacon Credit Union | -0.22% | 10.37% | |
| Interra Credit Union | -0.09% | 4.11% | |
| Lake City Bank | -0.09% | 10.18% | |
| 1st Source Bank | -0.04% | 4.11% | |
| Ruoff Mortgage | -0.02% | 11.74% | |
| First Farmers Bank & Trust | -0.01% | 3.52% | |
| JPMorgan Chase Bank | 0.00% | 3.13% | |
| Union Home Mortgage | 0.01% | 1.96% | |
| Hallmark Home Mortgage | 0.03% | 1.57% | |
| PNC Bank | 0.04% | 4.50% | |
| Teachers Credit Union | 0.05% | 9.20% | |
| First Federal Savings Bank of Rochester, IN | 0.06% | 19.77% | |
| Quicken Loans | 0.13% | 15.85% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Beacon Credit Union | -0.17% | 7.05% | |
| Interra Credit Union | -0.06% | 3.34% | |
| 1st Source Bank | -0.05% | 3.80% | |
| Lake City Bank | -0.04% | 10.30% | |
| Ruoff Mortgage | -0.04% | 20.41% | |
| First Federal Savings Bank of Rochester, IN | 0.01% | 23.75% | |
| First Farmers Bank & Trust | 0.01% | 3.06% | |
| PNC Bank | 0.02% | 4.08% | |
| JPMorgan Chase Bank | 0.02% | 3.06% | |
| Teachers Credit Union | 0.05% | 5.57% | |
| Hallmark Home Mortgage | 0.06% | 1.95% | |
| Union Home Mortgage | 0.12% | 5.94% | |
| Quicken Loans | 0.18% | 7.70% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Beacon Credit Union | -0.06% | 3.75% | |
| 1st Source Bank | -0.05% | 3.59% | |
| Ruoff Mortgage | -0.04% | 27.57% | |
| Interra Credit Union | -0.03% | 2.61% | |
| First Federal Savings Bank of Rochester, IN | -0.03% | 25.77% | |
| PNC Bank | -0.01% | 3.43% | |
| Teachers Credit Union | -0.00% | 2.28% | |
| Lake City Bank | -0.00% | 9.62% | |
| JPMorgan Chase Bank | 0.03% | 2.77% | |
| First Farmers Bank & Trust | 0.04% | 2.45% | |
| Hallmark Home Mortgage | 0.08% | 2.45% | |
| Quicken Loans | 0.12% | 4.89% | |
| Union Home Mortgage | 0.14% | 8.81% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Beacon Credit Union | -0.22% | 11.40% | |
| Interra Credit Union | -0.09% | 4.30% | |
| Lake City Bank | -0.09% | 11.18% | |
| 1st Source Bank | -0.05% | 4.09% | |
| Ruoff Mortgage | -0.03% | 10.97% | |
| First Farmers Bank & Trust | -0.01% | 3.87% | |
| JPMorgan Chase Bank | 0.00% | 3.44% | |
| Union Home Mortgage | 0.01% | 2.15% | |
| Hallmark Home Mortgage | 0.03% | 1.29% | |
| PNC Bank | 0.04% | 4.95% | |
| Teachers Credit Union | 0.05% | 9.89% | |
| First Federal Savings Bank of Rochester, IN | 0.06% | 21.08% | |
| Quicken Loans | 0.21% | 11.40% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| PNC Bank | -0.04% | 1.29% | |
| Hallmark Home Mortgage | -0.04% | 6.45% | |
| Quicken Loans | -0.04% | 25.16% | |
| 1st Source Bank | -0.03% | 0.65% | |
| Ruoff Mortgage | -0.01% | 53.55% | |
| First Federal Savings Bank of Rochester, IN | 0.03% | 1.94% | |
| Union Home Mortgage | 0.17% | 10.97% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Hallmark Home Mortgage | -0.06% | 7.09% | |
| PNC Bank | -0.05% | 1.57% | |
| 1st Source Bank | -0.03% | 0.79% | |
| Quicken Loans | -0.03% | 13.39% | |
| Ruoff Mortgage | -0.02% | 61.42% | |
| First Federal Savings Bank of Rochester, IN | 0.02% | 2.36% | |
| Union Home Mortgage | 0.16% | 13.39% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.01% | 78.57% | |
| Ruoff Mortgage | 0.05% | 17.86% | |
| Hallmark Home Mortgage | 0.05% | 3.57% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Interra Credit Union | -0.01% | 18.18% | |
| Teachers Credit Union | -0.01% | 9.09% | |
| Ruoff Mortgage | -0.00% | 9.09% | |
| 1st Source Bank | 0.00% | 18.18% | |
| First Federal Savings Bank of Rochester, IN | 0.00% | 36.36% | |
| Quicken Loans | 0.01% | 9.09% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Interra Credit Union | -0.01% | 25.00% | |
| First Federal Savings Bank of Rochester, IN | -0.01% | 25.00% | |
| Ruoff Mortgage | 0.00% | 25.00% | |
| Quicken Loans | 0.01% | 25.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Teachers Credit Union | -0.01% | 14.29% | |
| Interra Credit Union | -0.01% | 14.29% | |
| 1st Source Bank | -0.00% | 28.57% | |
| First Federal Savings Bank of Rochester, IN | 0.00% | 42.86% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| PNC Bank | -0.04% | 2.33% | |
| Hallmark Home Mortgage | -0.03% | 11.63% | |
| Quicken Loans | -0.02% | 18.60% | |
| Ruoff Mortgage | -0.00% | 53.49% | |
| Union Home Mortgage | 0.06% | 13.95% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| PNC Bank | -0.05% | 3.12% | |
| Hallmark Home Mortgage | -0.04% | 12.50% | |
| Quicken Loans | -0.03% | 6.25% | |
| Ruoff Mortgage | -0.00% | 59.38% | |
| Union Home Mortgage | 0.05% | 18.75% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Hallmark Home Mortgage | -0.01% | 9.09% | |
| Ruoff Mortgage | -0.00% | 36.36% | |
| Quicken Loans | 0.00% | 54.55% |
* Data is compiled for the Winona Lake, IN commuting zone area, which comprises of counties of Fulton County, IN, Kosciusko County, IN, and Wabash County, IN. This includes cities/towns/communities of Winona Lake, IN as well as Warsaw, IN, Rochester, IN, Syracuse, IN, North Webster, IN, Wabash, IN, Nappanee, IN, Etna Green, IN, Leesburg, IN, Silver Lake, IN, North Manchester, IN, Claypool, IN, Akron, IN, Laketon, IN, La Fontaine, IN, Sidney, IN, Roann, IN, Lagro, IN, and Kewanna, IN. 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
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