Top Mortgage Lenders in South Boston, VA

Which mortgage lender in the South Boston, VA 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 South Boston, VA 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 South Boston, VA area is Virginia Credit Union, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.13%. This means that Virginia Credit Union provided a -0.13% lower interest rate for its customers than other lenders in South Boston, VA for a similar set of borrowers. Virginia Credit Union has a market share of 9.3%. On the other hand, the most popular lender in the market is Quicken Loans, with a market share of 34.7%. Quicken Loans is an average rate lender in this area, with a “Rate Difference” of +0.03% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the South Boston, VA 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 South Boston, VA is Virginia Credit Union. 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 Truist Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Virginia Credit Union. The cheapest VA mortgage provider is Truist Bank. 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 South Boston, VA

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Virginia Credit Union 1, -0.13% 9.25%
Truist Bank 2, -0.07% 8.74%
Wells Fargo Bank 3, -0.03% 14.65%
Quicken Loans 4, 0.03% 34.70%
Caliber Home Loans Inc 5, 0.04% 12.08%
First Reliance Bank 6, 0.05% 20.57%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Virginia Credit Union 1, -0.15% 7.58%
Truist Bank 2, -0.05% 7.58%
Wells Fargo Bank 3, -0.05% 20.20%
Quicken Loans 4, 0.00% 22.73%
Caliber Home Loans Inc 5, 0.06% 17.68%
First Reliance Bank 6, 0.06% 24.24%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Virginia Credit Union 1, -0.11% 10.99%
Truist Bank 2, -0.08% 9.95%
Caliber Home Loans Inc 3, -0.02% 6.28%
Wells Fargo Bank 4, 0.01% 8.90%
First Reliance Bank 5, 0.02% 16.75%
Quicken Loans 6, 0.04% 47.12%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Virginia Credit Union 1, -0.14% 10.58%
Truist Bank 2, -0.07% 10.92%
Wells Fargo Bank 3, -0.04% 17.75%
Caliber Home Loans Inc 4, 0.02% 4.44%
First Reliance Bank 5, 0.05% 27.30%
Quicken Loans 6, 0.05% 29.01%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Virginia Credit Union 1, -0.17% 7.53%
Truist Bank 2, -0.05% 9.59%
Wells Fargo Bank 3, -0.05% 23.97%
Quicken Loans 4, 0.01% 19.18%
Caliber Home Loans Inc 5, 0.04% 6.85%
First Reliance Bank 6, 0.07% 32.88%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Virginia Credit Union 1, -0.13% 13.61%
Truist Bank 2, -0.09% 12.24%
Caliber Home Loans Inc 3, -0.01% 2.04%
Wells Fargo Bank 4, -0.00% 11.56%
First Reliance Bank 5, 0.01% 21.77%
Quicken Loans 6, 0.07% 38.78%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Virginia Credit Union 1, -0.07% 7.81%
Quicken Loans 2, -0.03% 60.94%
Caliber Home Loans Inc 3, 0.07% 31.25%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Virginia Credit Union 1, -0.12% 11.76%
Quicken Loans 2, -0.03% 38.24%
Caliber Home Loans Inc 3, 0.05% 50.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.00% 86.67%
Caliber Home Loans Inc 2, 0.01% 10.00%
Virginia Credit Union 3, 0.01% 3.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Truist Bank 1, 0.00% 50.00%
Wells Fargo Bank 2, 0.00% 50.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, 0.00% 100.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Truist Bank 1, 0.00% 100.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Truist Bank 1, -0.01% 3.33%
Wells Fargo Bank 2, -0.00% 13.33%
Quicken Loans 3, 0.00% 36.67%
Caliber Home Loans Inc 4, 0.00% 46.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Truist Bank 1, -0.02% 5.88%
Wells Fargo Bank 2, -0.01% 23.53%
Quicken Loans 3, 0.00% 23.53%
Caliber Home Loans Inc 4, 0.01% 47.06%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Caliber Home Loans Inc 1, -0.01% 46.15%
Quicken Loans 2, 0.01% 53.85%

* Data is compiled for the South Boston, VA commuting zone area, which comprises of counties of Brunswick County, VA, Charlotte County, VA, Halifax County, VA, Lunenburg County, VA, Mecklenburg County, VA, and Nottoway County, VA. This includes cities/towns/communities of South Boston, VA as well as Clarksville, VA, Bracey, VA, Crewe, VA, Gasburg, VA, Blackstone, VA, South Hill, VA, Kenbridge, VA, Victoria, VA, Riverdale, VA, Nathalie, VA, Cluster Springs, VA, Keysville, VA, Lawrenceville, VA, Alberta, VA, Drakes Branch, VA, Chase City, VA, Boydton, VA, Union Level, VA, Phenix, VA, Mountain Road, VA, Clover, VA, and La Crosse, VA. 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 South Boston, VA area. For mortgage lender rankings of other cities, click here.