Top Mortgage Lenders in the Binghamton, NY area

Which mortgage lender in the Binghamton, NY 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 Binghamton, NY 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 Binghamton, NY area is SEFCU Services, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.15%. This means that SEFCU Services provided a -0.15% lower interest rate for its customers than other lenders in Binghamton, NY for a similar set of borrowers. SEFCU Services has a market share of 5.3%. On the other hand, the most popular lender in the market is Visions Federal Credit Union, with a market share of 19.0%. Visions Federal Credit Union is also a relatively cheap lender, with a “Rate Difference” of -0.13% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Binghamton, NY 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 Binghamton, NY is SEFCU Services. If you want to take out a loan that is above conforming limits (for example, above $510,400 in 2020), the cheapest Jumbo mortgage provider is M&T Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Homestead Funding Corp. The cheapest VA mortgage provider is Elmira Savings Bank. To get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders by “Rate Rank” for your desired mortgage type and purpose.

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
SEFCU Services 1, -0.15% 5.31%
Visions Federal Credit Union 2, -0.13% 19.02%
NBT Bank 3, -0.10% 4.50%
Homestead Funding Corp 4, -0.07% 17.29%
Peoples Security Bank and Trust Company 5, -0.06% 3.63%
Elmira Savings Bank 6, -0.05% 2.11%
1st Priority Mortgage Inc 7, 0.05% 6.18%
Summit Mortgage Corporation 8, 0.05% 1.68%
Plaza Home Mortgage Inc 9, 0.06% 3.96%
M&T Bank 10, 0.06% 8.83%
Usaa Federal Savings Bank 11, 0.07% 1.73%
Wells Fargo Bank 12, 0.08% 2.33%
Nationstar Mortgage 13, 0.10% 1.95%
Movement Mortgage 14, 0.14% 3.58%
Quicken Loans 15, 0.17% 14.04%
Community Bank 16, 0.21% 3.85%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Visions Federal Credit Union 1, -0.18% 17.18%
SEFCU Services 2, -0.12% 5.78%
NBT Bank 3, -0.08% 4.73%
Homestead Funding Corp 4, -0.06% 23.71%
Elmira Savings Bank 5, -0.03% 2.40%
Peoples Security Bank and Trust Company 6, 0.03% 2.10%
1st Priority Mortgage Inc 7, 0.06% 8.33%
M&T Bank 8, 0.07% 7.50%
Summit Mortgage Corporation 9, 0.07% 2.25%
Wells Fargo Bank 10, 0.07% 2.10%
Usaa Federal Savings Bank 11, 0.09% 2.18%
Plaza Home Mortgage Inc 12, 0.10% 4.13%
Nationstar Mortgage 13, 0.12% 1.65%
Movement Mortgage 14, 0.17% 4.58%
Quicken Loans 15, 0.23% 8.18%
Community Bank 16, 0.32% 3.23%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
SEFCU Services 1, -0.25% 4.10%
Peoples Security Bank and Trust Company 2, -0.16% 7.62%
NBT Bank 3, -0.14% 3.91%
Elmira Savings Bank 4, -0.08% 1.37%
Plaza Home Mortgage Inc 5, -0.06% 3.52%
Visions Federal Credit Union 6, -0.05% 23.83%
Usaa Federal Savings Bank 7, -0.01% 0.59%
Homestead Funding Corp 8, -0.01% 0.59%
Summit Mortgage Corporation 9, -0.01% 0.20%
Movement Mortgage 10, 0.02% 0.98%
1st Priority Mortgage Inc 11, 0.02% 0.59%
Community Bank 12, 0.03% 5.47%
M&T Bank 13, 0.04% 12.30%
Nationstar Mortgage 14, 0.07% 2.73%
Wells Fargo Bank 15, 0.09% 2.93%
Quicken Loans 16, 0.11% 29.30%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
SEFCU Services 1, -0.18% 5.50%
Visions Federal Credit Union 2, -0.13% 28.38%
NBT Bank 3, -0.11% 5.98%
Peoples Security Bank and Trust Company 4, -0.06% 5.42%
Elmira Savings Bank 5, -0.05% 1.62%
Homestead Funding Corp 6, -0.04% 12.53%
Plaza Home Mortgage Inc 7, -0.00% 0.97%
Summit Mortgage Corporation 8, 0.05% 0.81%
M&T Bank 9, 0.08% 9.54%
Wells Fargo Bank 10, 0.09% 3.23%
1st Priority Mortgage Inc 11, 0.10% 4.53%
Nationstar Mortgage 12, 0.11% 1.13%
Usaa Federal Savings Bank 13, 0.12% 0.97%
Movement Mortgage 14, 0.18% 2.43%
Community Bank 15, 0.22% 5.74%
Quicken Loans 16, 0.25% 11.24%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Visions Federal Credit Union 1, -0.17% 28.06%
SEFCU Services 2, -0.14% 5.88%
NBT Bank 3, -0.09% 6.62%
Elmira Savings Bank 4, -0.02% 1.72%
Homestead Funding Corp 5, -0.02% 18.87%
Plaza Home Mortgage Inc 6, 0.02% 0.86%
Peoples Security Bank and Trust Company 7, 0.04% 3.43%
Summit Mortgage Corporation 8, 0.07% 1.23%
Wells Fargo Bank 9, 0.09% 3.06%
Nationstar Mortgage 10, 0.09% 0.49%
M&T Bank 11, 0.09% 7.23%
1st Priority Mortgage Inc 12, 0.12% 6.50%
Usaa Federal Savings Bank 13, 0.15% 1.35%
Movement Mortgage 14, 0.21% 3.31%
Quicken Loans 15, 0.32% 6.13%
Community Bank 16, 0.34% 5.27%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
SEFCU Services 1, -0.27% 4.75%
Peoples Security Bank and Trust Company 2, -0.16% 9.26%
NBT Bank 3, -0.14% 4.75%
Elmira Savings Bank 4, -0.10% 1.43%
Visions Federal Credit Union 5, -0.05% 28.98%
Plaza Home Mortgage Inc 6, -0.05% 1.19%
Usaa Federal Savings Bank 7, -0.01% 0.24%
Homestead Funding Corp 8, -0.00% 0.24%
1st Priority Mortgage Inc 9, 0.02% 0.71%
Community Bank 10, 0.03% 6.65%
Movement Mortgage 11, 0.03% 0.71%
M&T Bank 12, 0.04% 14.01%
Wells Fargo Bank 13, 0.08% 3.56%
Nationstar Mortgage 14, 0.09% 2.38%
Quicken Loans 15, 0.18% 21.14%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Homestead Funding Corp 1, -0.14% 27.88%
SEFCU Services 2, -0.09% 5.25%
Elmira Savings Bank 3, -0.05% 2.83%
1st Priority Mortgage Inc 4, -0.00% 10.30%
NBT Bank 5, 0.01% 1.62%
M&T Bank 6, 0.04% 8.08%
Wells Fargo Bank 7, 0.06% 0.40%
Summit Mortgage Corporation 8, 0.06% 2.63%
Quicken Loans 9, 0.08% 20.00%
Plaza Home Mortgage Inc 10, 0.09% 10.51%
Nationstar Mortgage 11, 0.12% 3.64%
Movement Mortgage 12, 0.13% 6.87%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Homestead Funding Corp 1, -0.14% 32.16%
SEFCU Services 2, -0.10% 5.87%
Elmira Savings Bank 3, -0.05% 3.29%
1st Priority Mortgage Inc 4, -0.00% 11.97%
NBT Bank 5, 0.02% 1.88%
M&T Bank 6, 0.05% 8.69%
Wells Fargo Bank 7, 0.06% 0.47%
Summit Mortgage Corporation 8, 0.06% 3.05%
Plaza Home Mortgage Inc 9, 0.11% 10.09%
Movement Mortgage 10, 0.14% 7.51%
Nationstar Mortgage 11, 0.15% 3.29%
Quicken Loans 12, 0.15% 11.74%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plaza Home Mortgage Inc 1, -0.04% 13.04%
Homestead Funding Corp 2, 0.00% 1.45%
M&T Bank 3, 0.00% 4.35%
Quicken Loans 4, 0.00% 71.01%
Movement Mortgage 5, 0.01% 2.90%
SEFCU Services 6, 0.02% 1.45%
Nationstar Mortgage 7, 0.04% 5.80%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
M&T Bank 1, -0.00% 66.67%
NBT Bank 2, 0.01% 33.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
M&T Bank 1, -0.01% 50.00%
NBT Bank 2, 0.01% 50.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
M&T Bank 1, 0.00% 100.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Elmira Savings Bank 1, -0.05% 4.55%
Nationstar Mortgage 2, -0.05% 3.64%
Plaza Home Mortgage Inc 3, -0.05% 8.18%
M&T Bank 4, -0.03% 2.73%
Wells Fargo Bank 5, -0.02% 0.91%
1st Priority Mortgage Inc 6, -0.02% 6.36%
SEFCU Services 7, -0.02% 3.64%
Movement Mortgage 8, -0.01% 1.82%
Usaa Federal Savings Bank 9, -0.00% 18.18%
Summit Mortgage Corporation 10, 0.01% 7.27%
Homestead Funding Corp 11, 0.02% 23.64%
Quicken Loans 12, 0.03% 19.09%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Elmira Savings Bank 1, -0.06% 4.49%
Nationstar Mortgage 2, -0.05% 4.49%
M&T Bank 3, -0.03% 3.37%
Plaza Home Mortgage Inc 4, -0.03% 5.62%
Wells Fargo Bank 5, -0.02% 1.12%
1st Priority Mortgage Inc 6, -0.02% 7.87%
SEFCU Services 7, -0.02% 4.49%
Movement Mortgage 8, -0.01% 2.25%
Usaa Federal Savings Bank 9, -0.00% 20.22%
Summit Mortgage Corporation 10, 0.01% 7.87%
Homestead Funding Corp 11, 0.02% 28.09%
Quicken Loans 12, 0.04% 10.11%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plaza Home Mortgage Inc 1, -0.06% 19.05%
Usaa Federal Savings Bank 2, -0.02% 9.52%
Elmira Savings Bank 3, -0.02% 4.76%
Summit Mortgage Corporation 4, -0.01% 4.76%
Homestead Funding Corp 5, -0.01% 4.76%
Quicken Loans 6, 0.03% 57.14%

* Data is compiled for the Binghamton, NY commuting zone area, which comprises of counties of Broome County, NY, Tioga County, NY, and Susquehanna County, PA. This includes cities/towns/communities of Binghamton, NY as well as Endwell, NY, Johnson City, NY, Chenango Bridge, NY, Waverly, NY, Endicott, NY, Thompson, PA, Montrose, PA, Windsor, NY, Nichols, NY, Newark Valley, NY, Port Dickinson, NY, Apalachin, NY, New Milford, PA, Hop Bottom, PA, Little Meadows, PA, Candor, NY, Hallstead, PA, Susquehanna Depot, PA, Binghamton University, NY, Owego, NY, Spencer, NY, Whitney Point, NY, Lisle, NY, Deposit, NY, Forest City, PA, and Glen Aubrey, NY. 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.

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