Synergy One Lending Mortgage Interest Rate and Cost Review

Is Synergy One Lending a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Synergy One Lending to those of other lenders for a comparable set of borrowers. Here is our review of Synergy One Lending nationally:

Review ItemSynergy One Lending
Interest Ratesimilar to other lenders (+0.02%)
Loan Related Closing Costssimilar to other lenders (+$180)
National Rate and Closing Cost Star Rating(3.5)

On average, Synergy One Lending’s interest rates were similar to those of other lenders (+0.02%). Its loan related closing costs were also similar to those of other lenders, with a difference of +$180. Overall, combining interest rates and closing costs we estimate that Synergy One Lending tends to be an average cost lender, and give it a National Rate and Closing Costs Rating of 3.5 out of 5 stars. We maintain our independence by not accepting any money from the mortgage lenders we review. To visit Synergy One Lending, its website is located at: https://s1l.com.

Synergy One Lending’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. For our list of the top mortgage lenders in your area, click here. In particular, among the cities we track Synergy One Lending was most active in:

  1. Chicago, IL
  2. Boise City, ID
  3. San Diego, CA
  4. Los Angeles, CA
  5. Denver, CO

Synergy One Lending’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Synergy One Lending originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.03%+0.03%+0.06%+0.00%+0.04%
Loan Related Closing Cost Difference+$252+$324+$190+$29+$54
Cost Adjusted Rate Difference+0.04%+0.05%+0.06%+0.00%+0.04%
National Star Rating(3.5)(3)(3)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference-0.00%-0.01%+0.03%+0.00%+0.09%
Loan Related Closing Cost Difference+$118+$203+$60+$7+$116
Cost Adjusted Rate Difference+0.00%+0.00%+0.03%+0.00%+0.09%
Average Star Rating(3.5)(3.5)(3.5)(3.5)(3)

As a summary, Synergy One Lending is similar to other lenders for Conforming, USDA and VA purchase mortgages. It is more expensive than other lenders for FHA and Jumbo purchase mortgages. For refinancing, Synergy One Lending is similar to other lenders for Conforming, FHA, Jumbo and USDA mortgage refinance. It is more expensive than other lenders for VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Synergy One Lending:

Registered name: Synergy One Lending
Registered city and state: Lombard, IL, 60148
Regulator: United States Department of Housing and Urban Development (HUD)
Top holder: MUTUAL OF OMAHA INSURANCE COMPANY

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Synergy One Lending’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.