Top Mortgage Lenders in the Lake City, FL area

Which mortgage lender in the Lake City, FL 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 Lake City, FL 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 Lake City, FL area is VyStar Credit Union, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.15%. This means that VyStar Credit Union provided a -0.15% lower interest rate for its customers than other lenders in Lake City, FL for a similar set of borrowers. VyStar Credit Union has a market share of 17.8%. On the other hand, the most popular lender in the market is Quicken Loans, with a market share of 32.9%. 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 Lake City, FL 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 Lake City, FL is VyStar Credit Union. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Union Home Mortgage Company. The cheapest VA mortgage provider is Union Home Mortgage Company. 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
VyStar Credit Union 1, -0.15% 17.77%
Union Home Mortgage Company 2, -0.02% 11.57%
Quicken Loans 3, 0.02% 32.85%
Campus USA Credit Union 4, 0.03% 8.26%
First Federal Bank 5, 0.06% 23.14%
AnnieMac Home Mortgage 6, 0.08% 6.40%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
VyStar Credit Union 1, -0.14% 18.96%
Union Home Mortgage Company 2, -0.03% 17.84%
Campus USA Credit Union 3, -0.02% 2.23%
Quicken Loans 4, 0.03% 20.82%
First Federal Bank 5, 0.06% 30.11%
AnnieMac Home Mortgage 6, 0.07% 10.04%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
VyStar Credit Union 1, -0.16% 16.28%
Union Home Mortgage Company 2, -0.01% 3.72%
Quicken Loans 3, 0.02% 47.91%
AnnieMac Home Mortgage 4, 0.03% 1.86%
First Federal Bank 5, 0.04% 14.42%
Campus USA Credit Union 6, 0.06% 15.81%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
VyStar Credit Union 1, -0.13% 29.25%
Union Home Mortgage Company 2, 0.03% 8.16%
Quicken Loans 3, 0.04% 29.59%
AnnieMac Home Mortgage 4, 0.05% 1.02%
Campus USA Credit Union 5, 0.05% 13.61%
First Federal Bank 6, 0.10% 18.37%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
VyStar Credit Union 1, -0.13% 36.17%
Campus USA Credit Union 2, -0.00% 4.26%
AnnieMac Home Mortgage 3, 0.03% 2.13%
Union Home Mortgage Company 4, 0.03% 13.48%
Quicken Loans 5, 0.04% 19.15%
First Federal Bank 6, 0.14% 24.82%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
VyStar Credit Union 1, -0.15% 22.88%
Union Home Mortgage Company 2, -0.01% 3.27%
First Federal Bank 3, 0.03% 12.42%
Quicken Loans 4, 0.04% 39.22%
Campus USA Credit Union 5, 0.07% 22.22%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Union Home Mortgage Company 1, -0.05% 18.70%
Quicken Loans 2, -0.01% 34.96%
First Federal Bank 3, 0.02% 32.52%
AnnieMac Home Mortgage 4, 0.06% 13.82%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Union Home Mortgage Company 1, -0.06% 23.60%
First Federal Bank 2, 0.00% 37.08%
Quicken Loans 3, 0.01% 24.72%
AnnieMac Home Mortgage 4, 0.08% 14.61%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.03% 61.76%
Union Home Mortgage Company 2, -0.01% 5.88%
AnnieMac Home Mortgage 3, 0.02% 11.76%
First Federal Bank 4, 0.07% 20.59%
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Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Union Home Mortgage Company 1, -0.10% 13.43%
Quicken Loans 2, 0.01% 43.28%
First Federal Bank 3, 0.01% 26.87%
AnnieMac Home Mortgage 4, 0.04% 16.42%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Union Home Mortgage Company 1, -0.11% 20.51%
First Federal Bank 2, 0.01% 33.33%
AnnieMac Home Mortgage 3, 0.04% 28.21%
Quicken Loans 4, 0.04% 17.95%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Union Home Mortgage Company 1, -0.01% 3.57%
First Federal Bank 2, -0.01% 17.86%
Quicken Loans 3, 0.00% 78.57%

* Data is compiled for the Lake City, FL commuting zone area, which comprises of counties of Columbia County, FL, Hamilton County, FL, Lafayette County, FL, Madison County, FL, and Suwannee County, FL. This includes cities/towns/communities of Lake City, FL as well as Watertown, FL, Fort White, FL, Live Oak, FL, Branford, FL, Five Points, FL, Jennings, FL, Madison, FL, Lee, FL, Jasper, FL, Mayo, FL, Greenville, FL, White Springs, FL, and Day, FL. 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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