Top Mortgage Lenders in Boone, NC

Which mortgage lender in the Boone, NC 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 Boone, NC 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 Boone, NC area is Piedmont Federal Savings Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.17%. This means that Piedmont Federal Savings Bank provided a -0.17% lower interest rate for its customers than other lenders in Boone, NC for a similar set of borrowers. Piedmont Federal Savings Bank has a market share of 3.2%. On the other hand, the most popular lender in the market is Quicken Loans, with a market share of 20.0%. Quicken Loans is an average rate lender in this area, with a “Rate Difference” of +0.11% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Boone, NC 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 Boone, NC is Piedmont Federal Savings 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 Atlantic Bay Mortgage Group. The cheapest VA mortgage provider is Wells Fargo 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 Boone, NC

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Piedmont Federal Savings Bank 1, -0.17% 3.20%
Truist Bank 2, -0.09% 9.96%
Bank of America 3, -0.07% 3.77%
First National Bank of Pennsylvania 4, -0.04% 5.98%
Wells Fargo Bank 5, -0.02% 10.46%
Movement Mortgage 6, -0.02% 13.52%
ALCOVA Mortgage 7, -0.02% 2.63%
First-Citizens Bank & Trust Co 8, -0.01% 3.27%
State Employees’ Credit Union 9, 0.00% 12.24%
Usaa Federal Savings Bank 10, 0.01% 3.06%
Atlantic Bay Mortgage Group 11, 0.02% 5.12%
United Community Bank 12, 0.02% 4.34%
Fairway Independent Mort Corp 13, 0.02% 2.42%
Quicken Loans 14, 0.11% 20.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Piedmont Federal Savings Bank 1, -0.12% 2.00%
Truist Bank 2, -0.11% 9.06%
Bank of America 3, -0.09% 4.71%
Wells Fargo Bank 4, -0.04% 14.59%
First National Bank of Pennsylvania 5, -0.04% 3.18%
ALCOVA Mortgage 6, -0.02% 3.29%
First-Citizens Bank & Trust Co 7, -0.02% 2.59%
Movement Mortgage 8, -0.01% 19.76%
United Community Bank 9, -0.00% 3.76%
Usaa Federal Savings Bank 10, 0.01% 4.35%
Atlantic Bay Mortgage Group 11, 0.02% 6.47%
Fairway Independent Mort Corp 12, 0.03% 3.65%
State Employees’ Credit Union 13, 0.10% 7.41%
Quicken Loans 14, 0.10% 15.18%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Piedmont Federal Savings Bank 1, -0.21% 5.05%
Movement Mortgage 2, -0.07% 3.96%
Truist Bank 3, -0.07% 11.35%
State Employees’ Credit Union 4, -0.06% 19.64%
First National Bank of Pennsylvania 5, -0.04% 10.27%
Bank of America 6, -0.02% 2.34%
Usaa Federal Savings Bank 7, -0.01% 1.08%
First-Citizens Bank & Trust Co 8, -0.00% 4.32%
ALCOVA Mortgage 9, 0.00% 1.62%
Fairway Independent Mort Corp 10, 0.00% 0.54%
Atlantic Bay Mortgage Group 11, 0.02% 3.06%
United Community Bank 12, 0.05% 5.23%
Wells Fargo Bank 13, 0.07% 4.14%
Quicken Loans 14, 0.11% 27.39%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Piedmont Federal Savings Bank 1, -0.17% 3.72%
Truist Bank 2, -0.10% 10.00%
Bank of America 3, -0.08% 3.80%
First National Bank of Pennsylvania 4, -0.04% 6.03%
ALCOVA Mortgage 5, -0.03% 2.23%
Movement Mortgage 6, -0.02% 13.72%
Wells Fargo Bank 7, -0.02% 11.40%
First-Citizens Bank & Trust Co 8, -0.01% 3.55%
Usaa Federal Savings Bank 9, -0.00% 2.07%
State Employees’ Credit Union 10, 0.00% 14.13%
United Community Bank 11, 0.03% 4.63%
Fairway Independent Mort Corp 12, 0.03% 1.90%
Atlantic Bay Mortgage Group 13, 0.03% 4.71%
Quicken Loans 14, 0.14% 18.10%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Truist Bank 1, -0.12% 9.86%
Piedmont Federal Savings Bank 2, -0.11% 2.36%
Bank of America 3, -0.10% 4.72%
First National Bank of Pennsylvania 4, -0.04% 3.19%
Wells Fargo Bank 5, -0.04% 15.97%
ALCOVA Mortgage 6, -0.04% 2.92%
First-Citizens Bank & Trust Co 7, -0.02% 2.92%
Movement Mortgage 8, -0.01% 20.14%
United Community Bank 9, -0.00% 4.03%
Usaa Federal Savings Bank 10, 0.00% 3.06%
Fairway Independent Mort Corp 11, 0.04% 2.78%
Atlantic Bay Mortgage Group 12, 0.04% 5.83%
State Employees’ Credit Union 13, 0.10% 8.75%
Quicken Loans 14, 0.13% 13.47%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Piedmont Federal Savings Bank 1, -0.21% 5.71%
Truist Bank 2, -0.08% 10.20%
Movement Mortgage 3, -0.07% 4.29%
State Employees’ Credit Union 4, -0.06% 22.04%
First National Bank of Pennsylvania 5, -0.05% 10.20%
Bank of America 6, -0.02% 2.45%
Usaa Federal Savings Bank 7, -0.01% 0.61%
First-Citizens Bank & Trust Co 8, -0.00% 4.49%
ALCOVA Mortgage 9, 0.00% 1.22%
Fairway Independent Mort Corp 10, 0.00% 0.61%
Atlantic Bay Mortgage Group 11, 0.02% 3.06%
United Community Bank 12, 0.05% 5.51%
Wells Fargo Bank 13, 0.07% 4.69%
Quicken Loans 14, 0.14% 24.90%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Atlantic Bay Mortgage Group 1, -0.05% 10.71%
Bank of America 2, -0.03% 1.19%
Quicken Loans 3, -0.00% 50.00%
First-Citizens Bank & Trust Co 4, -0.00% 1.19%
United Community Bank 5, 0.00% 2.38%
ALCOVA Mortgage 6, 0.01% 3.57%
Fairway Independent Mort Corp 7, 0.01% 10.71%
Wells Fargo Bank 8, 0.03% 1.19%
Movement Mortgage 9, 0.04% 19.05%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Atlantic Bay Mortgage Group 1, -0.07% 11.48%
Bank of America 2, -0.03% 1.64%
United Community Bank 3, -0.01% 1.64%
First-Citizens Bank & Trust Co 4, -0.01% 1.64%
Quicken Loans 5, -0.00% 36.07%
ALCOVA Mortgage 6, 0.00% 4.92%
Fairway Independent Mort Corp 7, 0.01% 14.75%
Wells Fargo Bank 8, 0.02% 1.64%
Movement Mortgage 9, 0.03% 26.23%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.00% 86.96%
Atlantic Bay Mortgage Group 2, 0.01% 8.70%
United Community Bank 3, 0.02% 4.35%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.03% 13.33%
Bank of America 2, -0.02% 13.33%
Truist Bank 3, -0.01% 31.11%
State Employees’ Credit Union 4, 0.01% 2.22%
First National Bank of Pennsylvania 5, 0.02% 22.22%
United Community Bank 6, 0.02% 2.22%
First-Citizens Bank & Trust Co 7, 0.02% 4.44%
Quicken Loans 8, 0.02% 6.67%
Atlantic Bay Mortgage Group 9, 0.04% 4.44%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.03% 25.00%
Bank of America 2, -0.02% 20.83%
Truist Bank 3, 0.00% 16.67%
First National Bank of Pennsylvania 4, 0.01% 12.50%
United Community Bank 5, 0.02% 4.17%
Quicken Loans 6, 0.03% 12.50%
Atlantic Bay Mortgage Group 7, 0.04% 8.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Truist Bank 1, -0.02% 47.62%
Bank of America 2, 0.01% 4.76%
State Employees’ Credit Union 3, 0.01% 4.76%
First National Bank of Pennsylvania 4, 0.02% 33.33%
First-Citizens Bank & Trust Co 5, 0.02% 9.52%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.03% 3.03%
Movement Mortgage 2, -0.02% 12.12%
First National Bank of Pennsylvania 3, -0.01% 1.52%
Truist Bank 4, -0.01% 7.58%
United Community Bank 5, -0.01% 3.03%
Fairway Independent Mort Corp 6, -0.00% 3.03%
Usaa Federal Savings Bank 7, -0.00% 27.27%
ALCOVA Mortgage 8, 0.00% 10.61%
Atlantic Bay Mortgage Group 9, 0.00% 6.06%
Quicken Loans 10, 0.02% 25.76%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Truist Bank 1, -0.03% 4.44%
Wells Fargo Bank 2, -0.02% 4.44%
Movement Mortgage 3, -0.01% 15.56%
First National Bank of Pennsylvania 4, -0.01% 2.22%
United Community Bank 5, -0.00% 2.22%
Fairway Independent Mort Corp 6, 0.00% 4.44%
Atlantic Bay Mortgage Group 7, 0.00% 8.89%
Quicken Loans 8, 0.00% 15.56%
Usaa Federal Savings Bank 9, 0.01% 33.33%
ALCOVA Mortgage 10, 0.01% 8.89%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Usaa Federal Savings Bank 1, -0.03% 14.29%
Movement Mortgage 2, -0.02% 4.76%
United Community Bank 3, -0.02% 4.76%
ALCOVA Mortgage 4, -0.02% 14.29%
Truist Bank 5, 0.00% 14.29%
Quicken Loans 6, 0.02% 47.62%

* Data is compiled for the Boone, NC commuting zone area, which comprises of counties of Ashe County, NC, Avery County, NC, Watauga County, NC, Wilkes County, NC, and Johnson County, TN. This includes cities/towns/communities of Boone, NC as well as Foscoe, NC, Sugar Mountain, NC, Blowing Rock, NC, Banner Elk, NC, Beech Mountain, NC, Millers Creek, NC, Wilkesboro, NC, Jefferson, NC, Moravian Falls, NC, Mulberry, NC, West Jefferson, NC, Newland, NC, Hays, NC, Pleasant Hill, NC, Cove Creek, NC, Mountain City, TN, Fairplains, NC, Crossnore, NC, Elk Park, NC, North Wilkesboro, NC, Cricket, NC, and Lansing, NC. 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

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