Top Mortgage Lenders in Ottawa, IL

Which mortgage lender in the Ottawa, IL area typically has the best rates? To help you narrow down where to shop for a mortgage, we provide a data driven ranking of mortgage lenders in the Ottawa, IL area by interest rate and market share. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings. We do not receive any compensation from lenders and strive to provide the most objective and authoritative ranking possible.

Based on our data, the cheapest overall lender in the Ottawa, IL area is First State Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.13%. This means that First State Bank provided a -0.13% lower interest rate for its customers than other lenders in Ottawa, IL for a similar set of borrowers. First State Bank has a market share of 24.7%. It is the most popular lender in the area.

Our detailed rankings of the mortgage lenders for the Ottawa, IL 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, the cheapest lender for Conventional mortgages in Ottawa, IL is First State Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Caliber Home Loans Inc. The cheapest VA mortgage provider is Guaranteed Rate Inc. Nevertheless, to get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders for your desired mortgage type and purpose.

Ranking of Mortgage Lenders in Ottawa, IL

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First State Bank 1, -0.13% 24.69%
Heartland Bank and Trust Company 2, -0.04% 7.11%
Town and Country Banc Mortgage 3, 0.01% 5.44%
Wells Fargo Bank 4, 0.01% 11.44%
Caliber Home Loans Inc 5, 0.03% 10.46%
Guaranteed Rate Inc 6, 0.05% 7.67%
Community Banc Mortgage Corp 7, 0.06% 5.58%
Quicken Loans 8, 0.07% 11.85%
Financial Plus Credit Union 9, 0.09% 15.76%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First State Bank 1, -0.09% 21.08%
Heartland Bank and Trust Company 2, -0.04% 6.32%
Wells Fargo Bank 3, -0.03% 14.29%
Town and Country Banc Mortgage 4, 0.00% 7.73%
Caliber Home Loans Inc 5, 0.01% 11.24%
Quicken Loans 6, 0.05% 9.37%
Community Banc Mortgage Corp 7, 0.05% 9.13%
Guaranteed Rate Inc 8, 0.05% 11.01%
Financial Plus Credit Union 9, 0.10% 9.84%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First State Bank 1, -0.17% 30.00%
Heartland Bank and Trust Company 2, -0.03% 8.28%
Town and Country Banc Mortgage 3, 0.01% 2.07%
Guaranteed Rate Inc 4, 0.02% 2.76%
Community Banc Mortgage Corp 5, 0.04% 0.34%
Caliber Home Loans Inc 6, 0.07% 9.31%
Financial Plus Credit Union 7, 0.09% 24.48%
Quicken Loans 8, 0.10% 15.52%
Wells Fargo Bank 9, 0.12% 7.24%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First State Bank 1, -0.13% 30.78%
Heartland Bank and Trust Company 2, -0.03% 8.70%
Town and Country Banc Mortgage 3, -0.01% 3.13%
Wells Fargo Bank 4, 0.01% 11.65%
Community Banc Mortgage Corp 5, 0.06% 6.43%
Guaranteed Rate Inc 6, 0.06% 6.43%
Caliber Home Loans Inc 7, 0.07% 6.26%
Financial Plus Credit Union 8, 0.09% 19.65%
Quicken Loans 9, 0.15% 6.96%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First State Bank 1, -0.09% 28.04%
Heartland Bank and Trust Company 2, -0.04% 8.10%
Wells Fargo Bank 3, -0.04% 14.64%
Town and Country Banc Mortgage 4, -0.02% 4.36%
Caliber Home Loans Inc 5, 0.03% 5.92%
Community Banc Mortgage Corp 6, 0.05% 11.21%
Guaranteed Rate Inc 7, 0.07% 9.35%
Financial Plus Credit Union 8, 0.11% 13.08%
Quicken Loans 9, 0.13% 5.30%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First State Bank 1, -0.17% 34.25%
Heartland Bank and Trust Company 2, -0.02% 9.45%
Town and Country Banc Mortgage 3, 0.01% 1.57%
Guaranteed Rate Inc 4, 0.03% 2.76%
Community Banc Mortgage Corp 5, 0.04% 0.39%
Financial Plus Credit Union 6, 0.09% 27.95%
Caliber Home Loans Inc 7, 0.11% 6.69%
Wells Fargo Bank 8, 0.13% 7.87%
Quicken Loans 9, 0.16% 9.06%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Caliber Home Loans Inc 1, -0.02% 31.37%
Quicken Loans 2, -0.01% 39.22%
Heartland Bank and Trust Company 3, 0.00% 0.98%
Town and Country Banc Mortgage 4, 0.02% 10.78%
Wells Fargo Bank 5, 0.03% 2.94%
Guaranteed Rate Inc 6, 0.03% 14.71%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.03% 27.03%
Caliber Home Loans Inc 2, -0.02% 33.78%
Heartland Bank and Trust Company 3, 0.01% 1.35%
Town and Country Banc Mortgage 4, 0.03% 14.86%
Wells Fargo Bank 5, 0.03% 4.05%
Guaranteed Rate Inc 6, 0.04% 18.92%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Caliber Home Loans Inc 1, -0.01% 25.00%
Quicken Loans 2, 0.00% 71.43%
Guaranteed Rate Inc 3, 0.01% 3.57%
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Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Guaranteed Rate Inc 1, -0.01% 7.50%
Caliber Home Loans Inc 2, -0.01% 17.50%
Town and Country Banc Mortgage 3, -0.01% 25.00%
Quicken Loans 4, 0.01% 12.50%
Wells Fargo Bank 5, 0.01% 30.00%
Community Banc Mortgage Corp 6, 0.03% 7.50%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Guaranteed Rate Inc 1, -0.02% 9.38%
Town and Country Banc Mortgage 2, -0.01% 25.00%
Quicken Loans 3, 0.00% 9.38%
Caliber Home Loans Inc 4, 0.00% 12.50%
Wells Fargo Bank 5, 0.01% 34.38%
Community Banc Mortgage Corp 6, 0.03% 9.38%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Caliber Home Loans Inc 1, -0.03% 37.50%
Town and Country Banc Mortgage 2, 0.01% 25.00%
Quicken Loans 3, 0.02% 25.00%
Wells Fargo Bank 4, 0.02% 12.50%

* Data is compiled for the Ottawa, IL commuting zone area, which comprises of counties of Bureau County, IL, La Salle County, IL, and Putnam County, IL. This includes cities/towns/communities of Ottawa, IL as well as Lake Holiday, IL, Peru, IL, Dayton, IL, Streator, IL, Marseilles, IL, Princeton, IL, Mendota, IL, Leland, IL, LaSalle, IL, Ransom, IL, Earlville, IL, Hennepin, IL, Wyanet, IL, Dalzell, IL, La Moille, IL, Wenona, IL, Spring Valley, IL, Malden, IL, Sheffield, IL, Oglesby, IL, New Bedford, IL, Hollowayville, IL, Cedar Point, IL, and Mark, IL. Lenders must have made at least 30 loans in the area to be included. Source for the data comes from 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 based on the MSA, 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 for Other Cities

This page ranks the top mortgage lenders in the Ottawa, IL area. For mortgage lender rankings of other cities, click here.