Top Mortgage Lenders in Marion, IL

Which mortgage lender in the Marion, 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 Marion, 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 Marion, IL area is Peoples National Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.06%. This means that Peoples National Bank provided a -0.06% lower interest rate for its customers than other lenders in Marion, IL for a similar set of borrowers. Peoples National Bank has a market share of 14.3%. On the other hand, the most popular lender in the market is Us Bank, with a market share of 24.9%. Us Bank is also a relatively cheap lender, with a “Rate Difference” of -0.04% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Marion, 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 Marion, IL is Peoples National Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Us Bank. The cheapest VA mortgage provider is Guaranteed Rate Inc. 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.

Ranking of Mortgage Lenders in Marion, IL

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Peoples National Bank 1, -0.06% 14.30%
Us Bank 2, -0.04% 24.90%
Community Banc Mortgage Corp 3, -0.03% 11.30%
First Mid Bank & Trust 4, -0.03% 4.50%
LoanDepot 5, 0.02% 3.20%
Flagstar Bank 6, 0.03% 4.40%
Regions Bank 7, 0.03% 4.30%
Usaa Federal Savings Bank 8, 0.04% 3.30%
Quicken Loans 9, 0.05% 19.70%
Guaranteed Rate Inc 10, 0.10% 5.80%
New American Funding 11, 0.11% 4.30%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Mid Bank & Trust 1, -0.06% 3.65%
Us Bank 2, -0.06% 27.96%
Peoples National Bank 3, -0.04% 16.87%
Regions Bank 4, 0.01% 4.26%
Community Banc Mortgage Corp 5, 0.02% 11.25%
Quicken Loans 6, 0.02% 13.83%
Flagstar Bank 7, 0.02% 3.95%
LoanDepot 8, 0.03% 0.61%
Usaa Federal Savings Bank 9, 0.04% 4.86%
Guaranteed Rate Inc 10, 0.12% 7.60%
New American Funding 11, 0.13% 5.17%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Peoples National Bank 1, -0.14% 9.36%
Community Banc Mortgage Corp 2, -0.11% 11.40%
Us Bank 3, -0.00% 19.01%
Guaranteed Rate Inc 4, -0.00% 2.34%
First Mid Bank & Trust 5, 0.01% 6.14%
Usaa Federal Savings Bank 6, 0.01% 0.29%
LoanDepot 7, 0.01% 8.19%
New American Funding 8, 0.02% 2.63%
Flagstar Bank 9, 0.04% 5.26%
Quicken Loans 10, 0.07% 30.99%
Regions Bank 11, 0.07% 4.39%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Peoples National Bank 1, -0.06% 19.73%
Us Bank 2, -0.04% 30.57%
Community Banc Mortgage Corp 3, -0.02% 16.42%
First Mid Bank & Trust 4, -0.02% 6.78%
LoanDepot 5, 0.04% 2.26%
New American Funding 6, 0.04% 1.51%
Flagstar Bank 7, 0.05% 3.46%
Usaa Federal Savings Bank 8, 0.05% 1.36%
Regions Bank 9, 0.06% 4.52%
Guaranteed Rate Inc 10, 0.09% 2.11%
Quicken Loans 11, 0.16% 11.30%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Us Bank 1, -0.05% 33.41%
First Mid Bank & Trust 2, -0.04% 5.69%
Peoples National Bank 3, -0.02% 23.70%
Community Banc Mortgage Corp 4, 0.04% 16.82%
Flagstar Bank 5, 0.04% 2.61%
LoanDepot 6, 0.05% 0.24%
Regions Bank 7, 0.05% 3.79%
Usaa Federal Savings Bank 8, 0.06% 2.13%
New American Funding 9, 0.07% 1.42%
Quicken Loans 10, 0.11% 7.35%
Guaranteed Rate Inc 11, 0.11% 2.84%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Peoples National Bank 1, -0.15% 12.81%
Community Banc Mortgage Corp 2, -0.12% 15.70%
Us Bank 3, -0.01% 25.62%
New American Funding 4, -0.01% 1.65%
First Mid Bank & Trust 5, 0.00% 8.68%
LoanDepot 6, 0.02% 5.79%
Guaranteed Rate Inc 7, 0.02% 0.83%
Flagstar Bank 8, 0.04% 4.96%
Regions Bank 9, 0.07% 5.79%
Quicken Loans 10, 0.18% 18.18%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Us Bank 1, -0.10% 13.27%
Peoples National Bank 2, -0.06% 5.31%
Regions Bank 3, -0.06% 3.10%
Quicken Loans 4, -0.04% 42.48%
LoanDepot 5, 0.00% 3.10%
Flagstar Bank 6, 0.01% 5.31%
Community Banc Mortgage Corp 7, 0.01% 0.88%
Guaranteed Rate Inc 8, 0.13% 15.04%
New American Funding 9, 0.14% 11.50%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Us Bank 1, -0.11% 16.87%
Peoples National Bank 2, -0.07% 6.63%
Regions Bank 3, -0.07% 4.22%
Quicken Loans 4, -0.05% 30.72%
Flagstar Bank 5, -0.01% 6.02%
LoanDepot 6, -0.00% 1.20%
Community Banc Mortgage Corp 7, -0.00% 1.20%
Guaranteed Rate Inc 8, 0.13% 18.67%
New American Funding 9, 0.14% 14.46%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.01% 75.00%
LoanDepot 2, 0.02% 8.33%
Us Bank 3, 0.02% 3.33%
Peoples National Bank 4, 0.02% 1.67%
Guaranteed Rate Inc 5, 0.03% 5.00%
Flagstar Bank 6, 0.05% 3.33%
New American Funding 7, 0.07% 3.33%
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Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Guaranteed Rate Inc 1, -0.03% 9.09%
LoanDepot 2, -0.01% 9.09%
Regions Bank 3, -0.01% 5.45%
Flagstar Bank 4, -0.01% 8.18%
Community Banc Mortgage Corp 5, -0.01% 1.82%
Quicken Loans 6, -0.01% 23.64%
Usaa Federal Savings Bank 7, 0.01% 21.82%
New American Funding 8, 0.01% 6.36%
Us Bank 9, 0.03% 14.55%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Flagstar Bank 1, -0.03% 7.14%
Quicken Loans 2, -0.03% 12.86%
Guaranteed Rate Inc 3, -0.02% 10.00%
Regions Bank 4, -0.02% 7.14%
LoanDepot 5, -0.01% 1.43%
Community Banc Mortgage Corp 6, 0.00% 1.43%
Usaa Federal Savings Bank 7, 0.00% 32.86%
New American Funding 8, 0.02% 5.71%
Us Bank 9, 0.03% 21.43%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Guaranteed Rate Inc 1, -0.05% 7.50%
Community Banc Mortgage Corp 2, -0.02% 2.50%
LoanDepot 3, -0.01% 22.50%
Usaa Federal Savings Bank 4, -0.00% 2.50%
Us Bank 5, 0.00% 2.50%
New American Funding 6, 0.01% 7.50%
Quicken Loans 7, 0.01% 42.50%
Flagstar Bank 8, 0.01% 10.00%
Regions Bank 9, 0.03% 2.50%

* Data is compiled for the Marion, IL commuting zone area, which comprises of counties of Alexander County, IL, Franklin County, IL, Jackson County, IL, Johnson County, IL, Perry County, IL, Pulaski County, IL, Randolph County, IL, Union County, IL, and Williamson County, IL. This includes cities/towns/communities of Marion, IL as well as Herrin, IL, Murphysboro, IL, Carterville, IL, West Frankfort, IL, Benton, IL, Pittsburg, IL, Vienna, IL, Red Bud, IL, Whiteash, IL, Chester, IL, Cambria, IL, Sparta, IL, St. Johns, IL, Carbondale, IL, Johnston City, IL, Harrison, IL, Anna, IL, Hurst, IL, West City, IL, Cobden, IL, Evansville, IL, Pinckneyville, IL, Makanda, IL, Valier, IL, Du Quoin, IL, Thompsonville, IL, Buncombe, IL, Elkville, IL, Sesser, IL, Zeigler, IL, Rockwood, IL, Dongola, IL, Ava, IL, Percy, IL, Tilden, IL, Cypress, IL, Tamaroa, IL, Christopher, IL, Alto Pass, IL, Coulterville, IL, Mound City, IL, Jonesboro, IL, Olive Branch, IL, Tamms, IL, Willisville, IL, Grand Tower, IL, Mounds, IL, and Cairo, 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.

Mortgage Lender Rankings for Other Cities

This page ranks the top mortgage lenders in the Marion, IL area. For mortgage lender rankings of other cities, click here.