Top Mortgage Lenders in the New Albany, MS area

Which mortgage lender in the New Albany, MS 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 New Albany, MS 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 New Albany, MS area is Renasant Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.07%. This means that Renasant Bank provided a -0.07% lower interest rate for its customers than other lenders in New Albany, MS for a similar set of borrowers. Renasant Bank has a market share of 19.0%. On the other hand, the most popular lender in the market is Quicken Loans, with a market share of 29.2%. 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 New Albany, MS 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 New Albany, MS is Renasant Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is BancorpSouth Bank. The cheapest VA mortgage provider is Regions 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
Renasant Bank 1, -0.07% 19.02%
Regions Bank 2, -0.02% 12.13%
BancorpSouth Bank 3, -0.01% 15.41%
Quicken Loans 4, 0.02% 29.18%
Flagstar Bank 5, 0.05% 24.26%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Regions Bank 1, -0.05% 15.04%
Renasant Bank 2, -0.05% 15.79%
Quicken Loans 3, -0.03% 12.03%
BancorpSouth Bank 4, -0.01% 29.32%
Flagstar Bank 5, 0.08% 27.82%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Renasant Bank 1, -0.08% 21.51%
BancorpSouth Bank 2, 0.01% 4.65%
Flagstar Bank 3, 0.02% 21.51%
Quicken Loans 4, 0.03% 42.44%
Regions Bank 5, 0.03% 9.88%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Renasant Bank 1, -0.07% 24.49%
Regions Bank 2, -0.00% 13.78%
BancorpSouth Bank 3, 0.01% 16.84%
Flagstar Bank 4, 0.02% 18.37%
Quicken Loans 5, 0.04% 26.53%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Regions Bank 1, -0.03% 16.90%
Renasant Bank 2, -0.03% 19.72%
Quicken Loans 3, -0.02% 15.49%
Flagstar Bank 4, 0.02% 9.86%
BancorpSouth Bank 5, 0.03% 38.03%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Renasant Bank 1, -0.09% 27.20%
Flagstar Bank 2, 0.01% 23.20%
BancorpSouth Bank 3, 0.02% 4.80%
Regions Bank 4, 0.03% 12.00%
Quicken Loans 5, 0.05% 32.80%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
BancorpSouth Bank 1, -0.06% 13.95%
Regions Bank 2, -0.05% 9.30%
Quicken Loans 3, -0.04% 29.07%
Renasant Bank 4, -0.04% 10.47%
Flagstar Bank 5, 0.08% 37.21%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Regions Bank 1, -0.09% 11.11%
BancorpSouth Bank 2, -0.08% 18.52%
Renasant Bank 3, -0.06% 11.11%
Quicken Loans 4, -0.02% 7.41%
Flagstar Bank 5, 0.07% 51.85%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.02% 65.62%
BancorpSouth Bank 2, -0.00% 6.25%
Renasant Bank 3, 0.01% 9.38%
Regions Bank 4, 0.03% 6.25%
Flagstar Bank 5, 0.06% 12.50%
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Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Regions Bank 1, -0.03% 8.70%
Flagstar Bank 2, -0.02% 26.09%
BancorpSouth Bank 3, -0.01% 8.70%
Renasant Bank 4, -0.01% 4.35%
Quicken Loans 5, 0.02% 52.17%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Regions Bank 1, -0.02% 25.00%
BancorpSouth Bank 2, 0.00% 25.00%
Quicken Loans 3, 0.00% 12.50%
Renasant Bank 4, 0.00% 12.50%
Flagstar Bank 5, 0.02% 25.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Flagstar Bank 1, -0.03% 26.67%
Quicken Loans 2, 0.01% 73.33%

* Data is compiled for the New Albany, MS commuting zone area, which comprises of counties of Benton County, MS, Marshall County, MS, Tippah County, MS, and Union County, MS. This includes cities/towns/communities of New Albany, MS as well as Holly Springs, MS, Byhalia, MS, Blue Mountain, MS, Myrtle, MS, Potts Camp, MS, Ashland, MS, Falkner, MS, Walnut, MS, Ripley, MS, and Hickory Flat, MS. 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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