Top Mortgage Lenders in the Montrose, CO area

Which mortgage lender in the Montrose, CO 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 Montrose, CO 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 Montrose, CO area is Alpine Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.12%. This means that Alpine Bank provided a -0.12% lower interest rate for its customers than other lenders in Montrose, CO for a similar set of borrowers. Alpine Bank has a market share of 4.4%. On the other hand, the most popular lender in the market is Cornerstone Home Lending, Inc, with a market share of 18.9%. Cornerstone Home Lending, Inc 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 Montrose, CO 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 Montrose, CO is Alpine Bank. 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 Bay Equity. The cheapest VA mortgage provider is Guild Mortgage Company. Nevertheless, to get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders for your desired mortgage type and purpose.

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Alpine Bank 1, -0.12% 4.36%
LoanDepot 2, -0.07% 1.99%
Us Bank 3, -0.06% 2.30%
Wells Fargo Bank 4, -0.04% 8.71%
Bank of Colorado 5, -0.02% 3.98%
American Financing Corporation 6, -0.01% 1.93%
Quicken Loans 7, -0.01% 13.57%
Bay Equity 8, 0.00% 6.97%
Academy Mortgage Corporation 9, 0.01% 16.68%
Cornerstone Home Lending, Inc 10, 0.02% 18.86%
Mortgage Solutions of Colorado 11, 0.03% 5.16%
Guild Mortgage Company 12, 0.04% 15.49%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.11% 7.59%
Alpine Bank 2, -0.10% 4.91%
Us Bank 3, -0.07% 2.79%
Quicken Loans 4, -0.06% 5.25%
LoanDepot 5, -0.05% 0.45%
Bank of Colorado 6, -0.03% 3.79%
American Financing Corporation 7, -0.02% 1.45%
Bay Equity 8, 0.01% 9.93%
Academy Mortgage Corporation 9, 0.01% 20.87%
Cornerstone Home Lending, Inc 10, 0.02% 21.43%
Mortgage Solutions of Colorado 11, 0.04% 2.90%
Guild Mortgage Company 12, 0.06% 18.64%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Alpine Bank 1, -0.14% 3.66%
LoanDepot 2, -0.07% 3.94%
Us Bank 3, -0.03% 1.69%
Bay Equity 4, -0.02% 3.23%
American Financing Corporation 5, -0.01% 2.53%
Bank of Colorado 6, 0.00% 4.22%
Academy Mortgage Corporation 7, 0.00% 11.39%
Cornerstone Home Lending, Inc 8, 0.00% 15.61%
Quicken Loans 9, 0.01% 24.05%
Guild Mortgage Company 10, 0.01% 11.53%
Mortgage Solutions of Colorado 11, 0.02% 8.02%
Wells Fargo Bank 12, 0.03% 10.13%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Alpine Bank 1, -0.12% 5.63%
LoanDepot 2, -0.10% 1.60%
Us Bank 3, -0.07% 2.52%
Wells Fargo Bank 4, -0.05% 10.85%
Bank of Colorado 5, -0.02% 4.54%
Quicken Loans 6, -0.01% 14.72%
American Financing Corporation 7, -0.00% 1.43%
Academy Mortgage Corporation 8, 0.01% 16.57%
Mortgage Solutions of Colorado 9, 0.02% 3.53%
Cornerstone Home Lending, Inc 10, 0.03% 17.75%
Bay Equity 11, 0.03% 6.06%
Guild Mortgage Company 12, 0.06% 14.80%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.13% 10.00%
Alpine Bank 2, -0.11% 6.67%
Us Bank 3, -0.09% 3.02%
Quicken Loans 4, -0.08% 6.35%
LoanDepot 5, -0.06% 0.63%
Bank of Colorado 6, -0.03% 4.13%
American Financing Corporation 7, -0.00% 0.95%
Mortgage Solutions of Colorado 8, 0.00% 1.43%
Academy Mortgage Corporation 9, 0.02% 20.63%
Cornerstone Home Lending, Inc 10, 0.04% 19.84%
Bay Equity 11, 0.05% 8.57%
Guild Mortgage Company 12, 0.07% 17.78%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Alpine Bank 1, -0.15% 4.47%
LoanDepot 2, -0.11% 2.68%
Us Bank 3, -0.04% 1.97%
Bay Equity 4, -0.03% 3.22%
Bank of Colorado 5, -0.00% 5.01%
American Financing Corporation 6, -0.00% 1.97%
Academy Mortgage Corporation 7, 0.00% 11.99%
Cornerstone Home Lending, Inc 8, 0.00% 15.38%
Quicken Loans 9, 0.02% 24.15%
Mortgage Solutions of Colorado 10, 0.02% 5.90%
Guild Mortgage Company 11, 0.02% 11.45%
Wells Fargo Bank 12, 0.03% 11.81%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bay Equity 1, -0.07% 9.58%
Quicken Loans 2, -0.05% 9.20%
Bank of Colorado 3, -0.03% 1.92%
Alpine Bank 4, -0.03% 0.38%
American Financing Corporation 5, -0.02% 3.83%
Us Bank 6, -0.01% 0.38%
Wells Fargo Bank 7, -0.00% 1.53%
Cornerstone Home Lending, Inc 8, -0.00% 27.20%
LoanDepot 9, -0.00% 1.53%
Academy Mortgage Corporation 10, 0.02% 17.24%
Guild Mortgage Company 11, 0.03% 20.31%
Mortgage Solutions of Colorado 12, 0.06% 6.90%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bay Equity 1, -0.09% 11.40%
Bank of Colorado 2, -0.04% 2.59%
Alpine Bank 3, -0.04% 0.52%
American Financing Corporation 4, -0.02% 3.11%
Wells Fargo Bank 5, -0.02% 1.04%
Us Bank 6, -0.01% 0.52%
Quicken Loans 7, -0.01% 1.04%
Cornerstone Home Lending, Inc 8, -0.01% 31.61%
Academy Mortgage Corporation 9, 0.02% 20.21%
Guild Mortgage Company 10, 0.04% 24.35%
Mortgage Solutions of Colorado 11, 0.04% 3.63%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.05% 32.35%
Guild Mortgage Company 2, -0.02% 8.82%
American Financing Corporation 3, -0.02% 5.88%
Bay Equity 4, 0.01% 4.41%
LoanDepot 5, 0.01% 5.88%
Cornerstone Home Lending, Inc 6, 0.01% 14.71%
Wells Fargo Bank 7, 0.02% 2.94%
Academy Mortgage Corporation 8, 0.03% 8.82%
Mortgage Solutions of Colorado 9, 0.08% 16.18%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.01% 23.53%
Us Bank 2, -0.01% 29.41%
LoanDepot 3, 0.00% 5.88%
Quicken Loans 4, 0.01% 17.65%
Cornerstone Home Lending, Inc 5, 0.02% 23.53%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Us Bank 1, -0.00% 57.14%
Wells Fargo Bank 2, 0.00% 28.57%
Quicken Loans 3, 0.01% 14.29%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.02% 20.00%
Us Bank 2, -0.01% 10.00%
LoanDepot 3, -0.00% 10.00%
Quicken Loans 4, 0.01% 20.00%
Cornerstone Home Lending, Inc 5, 0.01% 40.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Guild Mortgage Company 1, -0.04% 14.29%
LoanDepot 2, -0.03% 5.71%
Bank of Colorado 3, -0.02% 3.57%
Us Bank 4, -0.02% 0.71%
Alpine Bank 5, -0.02% 1.43%
Academy Mortgage Corporation 6, -0.01% 18.57%
American Financing Corporation 7, -0.00% 2.86%
Cornerstone Home Lending, Inc 8, -0.00% 12.14%
Wells Fargo Bank 9, 0.01% 2.14%
Quicken Loans 10, 0.02% 11.43%
Bay Equity 11, 0.03% 10.71%
Mortgage Solutions of Colorado 12, 0.04% 16.43%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bank of Colorado 1, -0.05% 4.55%
Guild Mortgage Company 2, -0.04% 12.12%
Us Bank 3, -0.04% 1.52%
Quicken Loans 4, -0.03% 6.06%
American Financing Corporation 5, -0.03% 1.52%
Alpine Bank 6, -0.03% 1.52%
Academy Mortgage Corporation 7, -0.02% 27.27%
Wells Fargo Bank 8, -0.02% 1.52%
Cornerstone Home Lending, Inc 9, -0.00% 9.09%
Bay Equity 10, 0.02% 19.70%
Mortgage Solutions of Colorado 11, 0.09% 15.15%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Guild Mortgage Company 1, -0.05% 16.22%
LoanDepot 2, -0.02% 10.81%
Alpine Bank 3, -0.01% 1.35%
Academy Mortgage Corporation 4, -0.01% 10.81%
Cornerstone Home Lending, Inc 5, 0.00% 14.86%
Mortgage Solutions of Colorado 6, 0.01% 17.57%
Bank of Colorado 7, 0.01% 2.70%
American Financing Corporation 8, 0.01% 4.05%
Wells Fargo Bank 9, 0.03% 2.70%
Bay Equity 10, 0.03% 2.70%
Quicken Loans 11, 0.04% 16.22%

* Data is compiled for the Montrose, CO commuting zone area, which comprises of counties of Delta County, CO, Montrose County, CO, Ouray County, CO, and San Miguel County, CO. This includes cities/towns/communities of Montrose, CO as well as Delta, CO, Mountain Village, CO, Ridgway, CO, Cedaredge, CO, Olathe, CO, Orchard City, CO, Hotchkiss, CO, Paonia, CO, Sawpit, CO, Nucla, CO, and Norwood, CO. 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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