Top Mortgage Lenders in the Chincoteague, VA area

Which mortgage lender in the Chincoteague, VA 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 Chincoteague, VA 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 Chincoteague, VA area is Prosperity Home Mortgage, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.14%. This means that Prosperity Home Mortgage provided a -0.14% lower interest rate for its customers than other lenders in Chincoteague, VA for a similar set of borrowers. Prosperity Home Mortgage has a market share of 18.4%. On the other hand, the most popular lender in the market is Quicken Loans, with a market share of 33.5%. Quicken Loans is an average rate lender in this area, with a “Rate Difference” of +0.02% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Chincoteague, VA 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 Chincoteague, VA is Prosperity Home Mortgage. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Prosperity Home Mortgage. The cheapest VA mortgage provider is Prosperity Home Mortgage. 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
Prosperity Home Mortgage 1, -0.14% 18.40%
Cornerstone Home Lending, Inc 2, 0.01% 24.53%
Quicken Loans 3, 0.02% 33.49%
Ovm Financial, Inc 4, 0.07% 23.58%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Prosperity Home Mortgage 1, -0.14% 24.03%
Quicken Loans 2, 0.02% 16.88%
Cornerstone Home Lending, Inc 3, 0.02% 28.57%
Ovm Financial, Inc 4, 0.08% 30.52%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Cornerstone Home Lending, Inc 1, -0.05% 13.79%
Prosperity Home Mortgage 2, -0.03% 3.45%
Ovm Financial, Inc 3, -0.00% 5.17%
Quicken Loans 4, 0.01% 77.59%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Prosperity Home Mortgage 1, -0.21% 15.33%
Cornerstone Home Lending, Inc 2, 0.00% 28.00%
Quicken Loans 3, 0.02% 38.00%
Ovm Financial, Inc 4, 0.13% 18.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Prosperity Home Mortgage 1, -0.21% 21.57%
Cornerstone Home Lending, Inc 2, 0.02% 34.31%
Quicken Loans 3, 0.02% 19.61%
Ovm Financial, Inc 4, 0.15% 24.51%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Cornerstone Home Lending, Inc 1, -0.06% 14.58%
Prosperity Home Mortgage 2, -0.04% 2.08%
Ovm Financial, Inc 3, -0.01% 6.25%
Quicken Loans 4, 0.01% 77.08%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Prosperity Home Mortgage 1, -0.05% 20.00%
Quicken Loans 2, 0.00% 17.78%
Ovm Financial, Inc 3, 0.01% 44.44%
Cornerstone Home Lending, Inc 4, 0.02% 17.78%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Prosperity Home Mortgage 1, -0.05% 22.50%
Quicken Loans 2, 0.01% 10.00%
Ovm Financial, Inc 3, 0.01% 50.00%
Cornerstone Home Lending, Inc 4, 0.03% 17.50%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.00% 80.00%
Cornerstone Home Lending, Inc 2, 0.01% 20.00%
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Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Prosperity Home Mortgage 1, -0.02% 41.18%
Quicken Loans 2, 0.01% 35.29%
Ovm Financial, Inc 3, 0.01% 11.76%
Cornerstone Home Lending, Inc 4, 0.02% 11.76%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Prosperity Home Mortgage 1, -0.02% 50.00%
Quicken Loans 2, 0.01% 16.67%
Ovm Financial, Inc 3, 0.02% 16.67%
Cornerstone Home Lending, Inc 4, 0.02% 16.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Prosperity Home Mortgage 1, -0.01% 20.00%
Quicken Loans 2, 0.00% 80.00%

* Data is compiled for the Chincoteague, VA commuting zone area, which comprises of counties of Accomack County, VA, and Northampton County, VA. This includes cities/towns/communities of Chincoteague, VA as well as Wattsville, VA, Cape Charles, VA, Onley, VA, Onancock, VA, Exmore, VA, Pastoria, VA, Eastville, VA, Belle Haven, VA, Bloxom, VA, and Parksley, VA. 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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