Which mortgage lender in the Richmond, KY area typically has the best rates? To help you narrow down where to shop for a mortgage, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Richmond, KY area by interest rate and market share. We maintain our independence by not accepting any compensation from the mortgage lenders we rank, and use data on all fixed rate mortgages that were closed in the past year to generate our rankings.
Going by historical data, the best mortgage lender in the Richmond, KY area in terms of interest rate is Guardian Savings Bank, with an average “Rate Difference” of -0.14%. This means that, comparing similar borrowers, Guardian Savings Bank provided a -0.14% lower interest rate for its customers than other lenders in the area. Guardian Savings Bank has a market share of 4.8%. On the other hand, the most popular lender in the Richmond, KY area is Benchmark, with a larger market share of 17.1%. Benchmark is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.09% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Richmond, KY 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, going by historical data, the cheapest lender for Conventional mortgages in Richmond, KY is Guardian Savings Bank. If you want to take out a loan that is above conforming limits (above $548,250 or $822,375 depending on the area in 2021), the cheapest Jumbo mortgage provider is Kentucky Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Kentucky Bank. The cheapest VA mortgage provider is Central Bank KY. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.
Ranking of Mortgage Lenders in Richmond, KY
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Guardian Savings Bank | -0.14% | 4.77% | |
| Central Bank KY | -0.13% | 6.07% | |
| Community Trust Bank | -0.06% | 4.12% | |
| Kentucky Bank | -0.06% | 5.75% | |
| Stockton Mortgage | -0.05% | 10.95% | |
| JPMorgan Chase Bank | -0.04% | 4.12% | |
| Fifth Third Bank | -0.02% | 4.12% | |
| US Bank | -0.02% | 9.65% | |
| Bank of England AR | 0.02% | 4.12% | |
| Sierra Pacific Mortgage | 0.04% | 6.18% | |
| Quicken Loans | 0.05% | 16.92% | |
| Fairway Independent Mortgage Corporation | 0.07% | 6.07% | |
| Benchmark | 0.09% | 17.14% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Central Bank KY | -0.14% | 7.83% | |
| US Bank | -0.09% | 7.17% | |
| JPMorgan Chase Bank | -0.08% | 3.33% | |
| Kentucky Bank | -0.07% | 6.00% | |
| Community Trust Bank | -0.07% | 2.67% | |
| Guardian Savings Bank | -0.07% | 2.33% | |
| Stockton Mortgage | -0.06% | 12.50% | |
| Fifth Third Bank | -0.02% | 2.50% | |
| Bank of England AR | 0.02% | 6.00% | |
| Quicken Loans | 0.03% | 9.33% | |
| Sierra Pacific Mortgage | 0.04% | 9.00% | |
| Fairway Independent Mortgage Corporation | 0.07% | 9.00% | |
| Benchmark | 0.10% | 22.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Guardian Savings Bank | -0.17% | 9.32% | |
| Community Trust Bank | -0.06% | 6.83% | |
| Central Bank KY | -0.06% | 2.80% | |
| Kentucky Bank | -0.04% | 5.28% | |
| Stockton Mortgage | -0.03% | 8.07% | |
| Fifth Third Bank | -0.02% | 7.14% | |
| JPMorgan Chase Bank | -0.00% | 5.59% | |
| Bank of England AR | 0.00% | 0.62% | |
| Fairway Independent Mortgage Corporation | 0.00% | 0.62% | |
| Sierra Pacific Mortgage | 0.01% | 0.93% | |
| Benchmark | 0.01% | 7.45% | |
| US Bank | 0.05% | 14.29% | |
| Quicken Loans | 0.06% | 31.06% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Guardian Savings Bank | -0.13% | 6.95% | |
| Central Bank KY | -0.13% | 7.27% | |
| Stockton Mortgage | -0.06% | 9.00% | |
| Community Trust Bank | -0.06% | 6.00% | |
| JPMorgan Chase Bank | -0.04% | 5.85% | |
| Kentucky Bank | -0.03% | 6.32% | |
| US Bank | -0.01% | 12.32% | |
| Fifth Third Bank | -0.01% | 5.21% | |
| Bank of England AR | 0.04% | 3.32% | |
| Fairway Independent Mortgage Corporation | 0.07% | 3.00% | |
| Benchmark | 0.08% | 17.22% | |
| Quicken Loans | 0.09% | 14.69% | |
| Sierra Pacific Mortgage | 0.14% | 2.84% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Central Bank KY | -0.15% | 10.08% | |
| US Bank | -0.11% | 9.26% | |
| JPMorgan Chase Bank | -0.07% | 5.18% | |
| Stockton Mortgage | -0.07% | 10.63% | |
| Community Trust Bank | -0.06% | 4.36% | |
| Guardian Savings Bank | -0.06% | 3.81% | |
| Kentucky Bank | -0.02% | 6.27% | |
| Fifth Third Bank | -0.00% | 3.00% | |
| Bank of England AR | 0.04% | 5.45% | |
| Quicken Loans | 0.05% | 8.72% | |
| Fairway Independent Mortgage Corporation | 0.08% | 4.90% | |
| Benchmark | 0.10% | 23.71% | |
| Sierra Pacific Mortgage | 0.15% | 4.63% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Guardian Savings Bank | -0.17% | 11.28% | |
| Community Trust Bank | -0.06% | 8.27% | |
| Central Bank KY | -0.06% | 3.38% | |
| Kentucky Bank | -0.04% | 6.39% | |
| Stockton Mortgage | -0.04% | 6.77% | |
| Fifth Third Bank | -0.02% | 8.27% | |
| Fairway Independent Mortgage Corporation | -0.00% | 0.38% | |
| JPMorgan Chase Bank | -0.00% | 6.77% | |
| Bank of England AR | 0.00% | 0.38% | |
| Benchmark | 0.01% | 8.27% | |
| Sierra Pacific Mortgage | 0.01% | 0.38% | |
| US Bank | 0.06% | 16.54% | |
| Quicken Loans | 0.10% | 22.93% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Kentucky Bank | -0.19% | 5.61% | |
| Central Bank KY | -0.07% | 1.53% | |
| Stockton Mortgage | -0.05% | 16.33% | |
| Fifth Third Bank | -0.03% | 2.55% | |
| Sierra Pacific Mortgage | -0.03% | 14.80% | |
| Quicken Loans | -0.01% | 23.47% | |
| US Bank | -0.01% | 1.02% | |
| Bank of England AR | 0.00% | 6.63% | |
| Fairway Independent Mortgage Corporation | 0.10% | 13.78% | |
| Benchmark | 0.11% | 14.29% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Kentucky Bank | -0.19% | 7.01% | |
| Central Bank KY | -0.07% | 1.91% | |
| Stockton Mortgage | -0.07% | 17.83% | |
| Fifth Third Bank | -0.04% | 2.55% | |
| Sierra Pacific Mortgage | -0.04% | 17.83% | |
| US Bank | -0.01% | 1.27% | |
| Bank of England AR | -0.00% | 7.64% | |
| Quicken Loans | 0.01% | 10.19% | |
| Fairway Independent Mortgage Corporation | 0.10% | 16.56% | |
| Benchmark | 0.10% | 17.20% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.01% | 76.92% | |
| Fifth Third Bank | 0.00% | 2.56% | |
| Sierra Pacific Mortgage | 0.01% | 2.56% | |
| Bank of England AR | 0.01% | 2.56% | |
| Benchmark | 0.02% | 2.56% | |
| Fairway Independent Mortgage Corporation | 0.02% | 2.56% | |
| Stockton Mortgage | 0.05% | 10.26% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Kentucky Bank | -0.00% | 33.33% | |
| Benchmark | 0.00% | 33.33% | |
| US Bank | 0.00% | 33.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Kentucky Bank | -0.00% | 50.00% | |
| Benchmark | 0.00% | 50.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| US Bank | 0.00% | 100.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Central Bank KY | -0.09% | 7.78% | |
| Stockton Mortgage | -0.04% | 13.33% | |
| Fairway Independent Mortgage Corporation | -0.03% | 11.11% | |
| US Bank | -0.03% | 8.89% | |
| Kentucky Bank | -0.03% | 1.11% | |
| JPMorgan Chase Bank | -0.02% | 1.11% | |
| Sierra Pacific Mortgage | -0.00% | 11.11% | |
| Bank of England AR | 0.00% | 4.44% | |
| Quicken Loans | 0.01% | 18.89% | |
| Benchmark | 0.08% | 22.22% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Central Bank KY | -0.09% | 9.46% | |
| Fairway Independent Mortgage Corporation | -0.03% | 13.51% | |
| US Bank | -0.03% | 9.46% | |
| Stockton Mortgage | -0.03% | 10.81% | |
| Kentucky Bank | -0.03% | 1.35% | |
| JPMorgan Chase Bank | -0.02% | 1.35% | |
| Quicken Loans | -0.01% | 10.81% | |
| Sierra Pacific Mortgage | -0.00% | 12.16% | |
| Bank of England AR | 0.00% | 5.41% | |
| Benchmark | 0.08% | 25.68% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Stockton Mortgage | -0.06% | 25.00% | |
| Sierra Pacific Mortgage | -0.02% | 6.25% | |
| Benchmark | -0.02% | 6.25% | |
| US Bank | -0.01% | 6.25% | |
| Quicken Loans | 0.03% | 56.25% |
* Data is compiled for the Richmond, KY commuting zone area, which comprises of counties of Estill County, KY, Madison County, KY, and Rockcastle County, KY. This includes cities/towns/communities of Richmond, KY as well as Berea, KY, Mount Vernon, KY, Irvine, KY, Livingston, KY, and Ravenna, KY. Lenders must have made at least 30 loans in the area to be included. Source of the data is 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 conditional on the commuting zone, 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 in Other Cities
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