Top Mortgage Lenders in Madison, IN

Which mortgage lender in the Madison, IN 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 Madison, IN 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 Madison, IN area is First Financial Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.05%. This means that First Financial Bank provided a -0.05% lower interest rate for its customers than other lenders in Madison, IN for a similar set of borrowers. First Financial Bank has a market share of 32.5%. It is the most popular lender in the area.

Our detailed rankings of the mortgage lenders for the Madison, IN 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 Madison, IN is First Financial Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is First Financial Bank. The cheapest VA mortgage provider is Geneva Financial. 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 Madison, IN

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Financial Bank 1, -0.05% 32.50%
German American Bank 2, -0.01% 20.71%
Quicken Loans 3, 0.03% 25.36%
Geneva Financial 4, 0.06% 21.43%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
German American Bank 1, -0.04% 18.83%
Quicken Loans 2, -0.03% 14.29%
First Financial Bank 3, -0.01% 31.82%
Geneva Financial 4, 0.04% 35.06%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Financial Bank 1, -0.10% 33.33%
German American Bank 2, 0.02% 23.02%
Geneva Financial 3, 0.02% 4.76%
Quicken Loans 4, 0.07% 38.89%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Financial Bank 1, -0.05% 44.69%
German American Bank 2, -0.01% 27.37%
Geneva Financial 3, 0.09% 10.61%
Quicken Loans 4, 0.10% 17.32%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
German American Bank 1, -0.06% 26.25%
First Financial Bank 2, -0.01% 47.50%
Quicken Loans 3, 0.02% 8.75%
Geneva Financial 4, 0.09% 17.50%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Financial Bank 1, -0.10% 42.42%
Geneva Financial 2, 0.02% 5.05%
German American Bank 3, 0.02% 28.28%
Quicken Loans 4, 0.14% 24.24%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Financial Bank 1, -0.06% 9.52%
Quicken Loans 2, -0.04% 39.29%
German American Bank 3, 0.00% 8.33%
Geneva Financial 4, 0.05% 42.86%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Financial Bank 1, -0.06% 12.50%
Quicken Loans 2, -0.05% 21.88%
German American Bank 3, -0.00% 10.94%
Geneva Financial 4, 0.04% 54.69%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.00% 95.00%
Geneva Financial 2, 0.04% 5.00%
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Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Geneva Financial 1, -0.01% 29.41%
First Financial Bank 2, -0.00% 17.65%
Quicken Loans 3, 0.01% 41.18%
German American Bank 4, 0.01% 11.76%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Geneva Financial 1, -0.01% 50.00%
First Financial Bank 2, 0.00% 30.00%
Quicken Loans 3, 0.01% 10.00%
German American Bank 4, 0.01% 10.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.00% 85.71%
German American Bank 2, 0.00% 14.29%

* Data is compiled for the Madison, IN commuting zone area, which comprises of counties of Jefferson County, IN, Carroll County, KY, Owen County, KY, and Trimble County, KY. This includes cities/towns/communities of Madison, IN as well as Hanover, IN, Deputy, IN, Bedford, KY, Gratz, KY, Canaan, IN, Carrollton, KY, Monterey, KY, Milton, KY, Prestonville, KY, and Ghent, KY. 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 Madison, IN area. For mortgage lender rankings of other cities, click here.