Top Mortgage Lenders in the Bloomington, IL area

Which mortgage lender in the Bloomington, 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 Bloomington, 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 Bloomington, IL area is Illinois State Credit Union, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.26%. This means that Illinois State Credit Union provided a -0.26% lower interest rate for its customers than other lenders in Bloomington, IL for a similar set of borrowers. Illinois State Credit Union has a market share of 3.9%. On the other hand, the most popular lender in the market is First State Mortgage Services, with a market share of 26.1%. First State Mortgage Services is an average rate lender in this area, with a “Rate Difference” of +0.10% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Bloomington, 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 Bloomington, IL is Illinois State Credit Union. 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 Wells Fargo Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Busey Bank. The cheapest VA mortgage provider is Marine 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
Illinois State Credit Union 1, -0.26% 3.89%
Citizens Equity First Credit Union (CEFCU) 2, -0.12% 6.43%
Busey Bank 3, -0.11% 11.47%
Marine Bank 4, -0.11% 5.79%
State Farm Bank 5, -0.08% 4.22%
Morton Community Bank 6, -0.07% 1.46%
Flanagan State Bank 7, -0.06% 5.07%
Heartland Bank and Trust Company 8, -0.04% 6.79%
JPMorgan Chase Bank 9, -0.02% 1.54%
Wells Fargo Bank 10, -0.02% 2.57%
Iaa Credit Union 11, -0.01% 1.96%
Inb, National Association 12, -0.01% 2.86%
Barrington Bank & Trust 13, 0.05% 2.72%
Waterstone Mortgage Corp 14, 0.08% 2.07%
First State Mortgage Services 15, 0.10% 26.08%
Pnc Bank 16, 0.11% 6.90%
Quicken Loans 17, 0.11% 4.61%
Compass Mortgage Inc 18, 0.15% 3.57%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Illinois State Credit Union 1, -0.20% 2.41%
Citizens Equity First Credit Union (CEFCU) 2, -0.14% 5.94%
Busey Bank 3, -0.13% 11.08%
State Farm Bank 4, -0.13% 4.93%
Marine Bank 5, -0.09% 5.94%
Pnc Bank 6, -0.08% 4.82%
Morton Community Bank 7, -0.06% 1.07%
Wells Fargo Bank 8, -0.05% 3.10%
Flanagan State Bank 9, -0.05% 3.27%
JPMorgan Chase Bank 10, -0.05% 1.87%
Iaa Credit Union 11, -0.03% 1.77%
Heartland Bank and Trust Company 12, -0.02% 4.82%
Inb, National Association 13, -0.02% 2.94%
Quicken Loans 14, 0.06% 3.27%
Barrington Bank & Trust 15, 0.07% 2.78%
Waterstone Mortgage Corp 16, 0.07% 2.89%
First State Mortgage Services 17, 0.12% 32.23%
Compass Mortgage Inc 18, 0.15% 4.87%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Illinois State Credit Union 1, -0.28% 6.87%
Marine Bank 2, -0.15% 5.48%
Citizens Equity First Credit Union (CEFCU) 3, -0.09% 7.41%
Busey Bank 4, -0.07% 12.24%
Morton Community Bank 5, -0.06% 2.26%
Flanagan State Bank 6, -0.06% 8.70%
Heartland Bank and Trust Company 7, -0.03% 10.74%
Barrington Bank & Trust 8, 0.01% 2.58%
First State Mortgage Services 9, 0.02% 13.75%
Iaa Credit Union 10, 0.02% 2.36%
Inb, National Association 11, 0.03% 2.69%
JPMorgan Chase Bank 12, 0.05% 0.86%
Waterstone Mortgage Corp 13, 0.06% 0.43%
Compass Mortgage Inc 14, 0.07% 0.97%
State Farm Bank 15, 0.07% 2.79%
Wells Fargo Bank 16, 0.10% 1.50%
Quicken Loans 17, 0.17% 7.30%
Pnc Bank 18, 0.28% 11.06%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Illinois State Credit Union 1, -0.25% 4.60%
Citizens Equity First Credit Union (CEFCU) 2, -0.12% 7.56%
Marine Bank 3, -0.12% 5.74%
Busey Bank 4, -0.11% 12.24%
State Farm Bank 5, -0.08% 4.94%
Flanagan State Bank 6, -0.07% 5.74%
Morton Community Bank 7, -0.07% 1.73%
Heartland Bank and Trust Company 8, -0.03% 8.02%
Wells Fargo Bank 9, -0.03% 2.53%
JPMorgan Chase Bank 10, -0.02% 1.77%
Iaa Credit Union 11, -0.01% 2.32%
Inb, National Association 12, -0.00% 3.25%
Waterstone Mortgage Corp 13, 0.04% 0.51%
Barrington Bank & Trust 14, 0.05% 2.87%
Pnc Bank 15, 0.13% 7.18%
First State Mortgage Services 16, 0.14% 23.13%
Compass Mortgage Inc 17, 0.18% 3.04%
Quicken Loans 18, 0.21% 2.83%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Illinois State Credit Union 1, -0.20% 2.98%
Citizens Equity First Credit Union (CEFCU) 2, -0.14% 7.35%
Busey Bank 3, -0.13% 11.85%
State Farm Bank 4, -0.13% 6.03%
Marine Bank 5, -0.10% 5.83%
Wells Fargo Bank 6, -0.08% 3.05%
Pnc Bank 7, -0.08% 4.90%
Flanagan State Bank 8, -0.06% 3.64%
Morton Community Bank 9, -0.06% 1.32%
JPMorgan Chase Bank 10, -0.05% 2.25%
Iaa Credit Union 11, -0.03% 2.19%
Heartland Bank and Trust Company 12, -0.02% 5.96%
Inb, National Association 13, -0.02% 3.44%
Waterstone Mortgage Corp 14, 0.03% 0.73%
Barrington Bank & Trust 15, 0.07% 2.98%
Quicken Loans 16, 0.14% 1.99%
First State Mortgage Services 17, 0.16% 29.07%
Compass Mortgage Inc 18, 0.17% 4.44%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Illinois State Credit Union 1, -0.28% 7.45%
Marine Bank 2, -0.15% 5.59%
Citizens Equity First Credit Union (CEFCU) 3, -0.09% 7.92%
Busey Bank 4, -0.08% 12.92%
Morton Community Bank 5, -0.06% 2.44%
Flanagan State Bank 6, -0.05% 9.43%
Heartland Bank and Trust Company 7, -0.03% 11.64%
Barrington Bank & Trust 8, 0.01% 2.68%
Iaa Credit Union 9, 0.02% 2.56%
First State Mortgage Services 10, 0.03% 12.69%
Inb, National Association 11, 0.03% 2.91%
Waterstone Mortgage Corp 12, 0.04% 0.12%
JPMorgan Chase Bank 13, 0.05% 0.93%
State Farm Bank 14, 0.07% 3.03%
Compass Mortgage Inc 15, 0.09% 0.58%
Wells Fargo Bank 16, 0.10% 1.63%
Quicken Loans 17, 0.28% 4.31%
Pnc Bank 18, 0.30% 11.18%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Busey Bank 1, -0.12% 7.12%
Pnc Bank 2, -0.10% 2.14%
Marine Bank 3, -0.03% 2.85%
First State Mortgage Services 4, -0.01% 44.13%
Inb, National Association 5, -0.01% 0.71%
Quicken Loans 6, -0.01% 17.79%
Wells Fargo Bank 7, -0.00% 0.36%
Barrington Bank & Trust 8, 0.02% 1.42%
Flanagan State Bank 9, 0.04% 1.78%
Compass Mortgage Inc 10, 0.08% 6.41%
Waterstone Mortgage Corp 11, 0.08% 15.30%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Busey Bank 1, -0.12% 8.03%
Pnc Bank 2, -0.09% 2.41%
Quicken Loans 3, -0.03% 10.44%
Marine Bank 4, -0.03% 3.21%
First State Mortgage Services 5, -0.01% 47.79%
Inb, National Association 6, -0.01% 0.80%
Wells Fargo Bank 7, 0.00% 0.40%
Barrington Bank & Trust 8, 0.02% 1.61%
Flanagan State Bank 9, 0.05% 2.01%
Waterstone Mortgage Corp 10, 0.08% 16.47%
Compass Mortgage Inc 11, 0.08% 6.83%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Compass Mortgage Inc 1, -0.02% 3.12%
Quicken Loans 2, -0.00% 75.00%
First State Mortgage Services 3, 0.00% 15.62%
Waterstone Mortgage Corp 4, 0.01% 6.25%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.01% 33.33%
Pnc Bank 2, 0.00% 33.33%
JPMorgan Chase Bank 3, 0.01% 33.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.01% 50.00%
JPMorgan Chase Bank 2, 0.01% 50.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Pnc Bank 1, 0.00% 100.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Marine Bank 1, -0.06% 12.33%
Pnc Bank 2, -0.03% 10.96%
Flanagan State Bank 3, -0.01% 0.68%
Waterstone Mortgage Corp 4, -0.01% 2.05%
Busey Bank 5, -0.00% 7.53%
First State Mortgage Services 6, 0.00% 39.73%
Inb, National Association 7, 0.00% 0.68%
Barrington Bank & Trust 8, 0.01% 2.74%
State Farm Bank 9, 0.01% 0.68%
Citizens Equity First Credit Union (CEFCU) 10, 0.01% 0.68%
Quicken Loans 11, 0.03% 8.22%
Compass Mortgage Inc 12, 0.04% 6.85%
Wells Fargo Bank 13, 0.07% 6.85%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Marine Bank 1, -0.07% 14.02%
Pnc Bank 2, -0.06% 9.35%
Waterstone Mortgage Corp 3, -0.02% 1.87%
Busey Bank 4, -0.02% 7.48%
Flanagan State Bank 5, -0.01% 0.93%
Inb, National Association 6, -0.01% 0.93%
State Farm Bank 7, 0.00% 0.93%
Barrington Bank & Trust 8, 0.00% 2.80%
First State Mortgage Services 9, 0.01% 41.12%
Quicken Loans 10, 0.04% 4.67%
Compass Mortgage Inc 11, 0.05% 6.54%
Wells Fargo Bank 12, 0.06% 9.35%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First State Mortgage Services 1, -0.04% 35.90%
Marine Bank 2, -0.01% 7.69%
Waterstone Mortgage Corp 3, 0.02% 2.56%
Barrington Bank & Trust 4, 0.02% 2.56%
Busey Bank 5, 0.02% 7.69%
Compass Mortgage Inc 6, 0.03% 7.69%
Citizens Equity First Credit Union (CEFCU) 7, 0.03% 2.56%
Quicken Loans 8, 0.03% 17.95%
Pnc Bank 9, 0.03% 15.38%

* Data is compiled for the Bloomington, IL commuting zone area, which comprises of counties of De Witt County, IL, Livingston County, IL, and McLean County, IL. This includes cities/towns/communities of Bloomington, IL as well as Normal, IL, Towanda, IL, Lexington, IL, Dwight, IL, Le Roy, IL, Pontiac, IL, Wapella, IL, McLean, IL, Carlock, IL, Fairbury, IL, Farmer City, IL, Clinton, IL, Bellflower, IL, Saybrook, IL, Cornell, IL, Cooksville, IL, Twin Grove, IL, Streator, IL, and Saunemin, 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.

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