Top Mortgage Lenders in the Willmar, MN area

Which mortgage lender in the Willmar, MN 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 Willmar, MN 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 Willmar, MN area is Bremer Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.07%. This means that Bremer Bank provided a -0.07% lower interest rate for its customers than other lenders in Willmar, MN for a similar set of borrowers. Bremer Bank has a market share of 24.8%. It is also the most popular lender in the area.

Our detailed rankings of the mortgage lenders for the Willmar, MN 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 Willmar, MN is Bremer 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 Bremer Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Freedom Mortgage Corporation. The cheapest VA mortgage provider is Plains Commerce 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
Bremer Bank 1, -0.07% 24.76%
Servion, Inc 2, -0.02% 16.89%
Wells Fargo Bank 3, -0.01% 11.52%
Flagstar Bank 4, 0.00% 8.64%
Freedom Mortgage Corporation 5, 0.02% 6.72%
Plains Commerce Bank 6, 0.04% 8.83%
Quicken Loans 7, 0.06% 14.20%
Homeowners Financial Group 8, 0.09% 8.45%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.08% 12.14%
Servion, Inc 2, -0.04% 20.36%
Bremer Bank 3, -0.02% 15.00%
Flagstar Bank 4, -0.01% 10.71%
Freedom Mortgage Corporation 5, -0.00% 7.86%
Plains Commerce Bank 6, 0.04% 10.00%
Quicken Loans 7, 0.06% 9.29%
Homeowners Financial Group 8, 0.08% 14.64%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bremer Bank 1, -0.09% 36.10%
Flagstar Bank 2, 0.02% 6.22%
Servion, Inc 3, 0.02% 12.86%
Plains Commerce Bank 4, 0.02% 7.47%
Homeowners Financial Group 5, 0.04% 1.24%
Freedom Mortgage Corporation 6, 0.06% 5.39%
Quicken Loans 7, 0.07% 19.92%
Wells Fargo Bank 8, 0.08% 10.79%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bremer Bank 1, -0.07% 29.62%
Servion, Inc 2, -0.02% 18.72%
Wells Fargo Bank 3, -0.01% 13.74%
Flagstar Bank 4, 0.01% 8.29%
Plains Commerce Bank 5, 0.03% 7.11%
Freedom Mortgage Corporation 6, 0.07% 4.27%
Quicken Loans 7, 0.09% 10.43%
Homeowners Financial Group 8, 0.11% 7.82%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.08% 15.89%
Servion, Inc 2, -0.04% 22.90%
Bremer Bank 3, -0.02% 19.16%
Flagstar Bank 4, -0.00% 9.81%
Plains Commerce Bank 5, 0.04% 7.48%
Quicken Loans 6, 0.05% 7.01%
Freedom Mortgage Corporation 7, 0.07% 3.74%
Homeowners Financial Group 8, 0.12% 14.02%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bremer Bank 1, -0.09% 40.38%
Flagstar Bank 2, 0.02% 6.73%
Servion, Inc 3, 0.02% 14.42%
Plains Commerce Bank 4, 0.02% 6.73%
Homeowners Financial Group 5, 0.04% 1.44%
Freedom Mortgage Corporation 6, 0.07% 4.81%
Wells Fargo Bank 7, 0.09% 11.54%
Quicken Loans 8, 0.11% 13.94%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Freedom Mortgage Corporation 1, -0.05% 20.00%
Flagstar Bank 2, -0.04% 7.14%
Servion, Inc 3, -0.01% 8.57%
Homeowners Financial Group 4, 0.00% 12.86%
Quicken Loans 5, 0.02% 37.14%
Plains Commerce Bank 6, 0.06% 14.29%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Freedom Mortgage Corporation 1, -0.08% 22.00%
Flagstar Bank 2, -0.05% 10.00%
Servion, Inc 3, -0.02% 12.00%
Homeowners Financial Group 4, -0.01% 18.00%
Plains Commerce Bank 5, 0.06% 16.00%
Quicken Loans 6, 0.07% 22.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.01% 75.00%
Freedom Mortgage Corporation 2, 0.01% 15.00%
Plains Commerce Bank 3, 0.02% 10.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bremer Bank 1, -0.01% 50.00%
Wells Fargo Bank 2, 0.01% 25.00%
Plains Commerce Bank 3, 0.01% 25.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bremer Bank 1, 0.00% 50.00%
Plains Commerce Bank 2, 0.00% 50.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bremer Bank 1, -0.01% 50.00%
Wells Fargo Bank 2, 0.01% 33.33%
Plains Commerce Bank 3, 0.01% 16.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plains Commerce Bank 1, -0.02% 19.05%
Freedom Mortgage Corporation 2, -0.02% 14.29%
Homeowners Financial Group 3, -0.01% 9.52%
Servion, Inc 4, 0.01% 14.29%
Flagstar Bank 5, 0.01% 23.81%
Quicken Loans 6, 0.02% 19.05%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plains Commerce Bank 1, -0.03% 21.43%
Freedom Mortgage Corporation 2, -0.02% 21.43%
Homeowners Financial Group 3, -0.01% 14.29%
Servion, Inc 4, 0.02% 14.29%
Flagstar Bank 5, 0.02% 28.57%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Servion, Inc 1, -0.02% 14.29%
Plains Commerce Bank 2, -0.01% 14.29%
Flagstar Bank 3, -0.01% 14.29%
Quicken Loans 4, 0.01% 57.14%

* Data is compiled for the Willmar, MN commuting zone area, which comprises of counties of Chippewa County, MN, Kandiyohi County, MN, Lac qui Parle County, MN, Swift County, MN, and Yellow Medicine County, MN. This includes cities/towns/communities of Willmar, MN as well as New London, MN, Pennock, MN, Montevideo, MN, Kandiyohi, MN, Benson, MN, Sunburg, MN, Lake Lillian, MN, Regal, MN, Raymond, MN, Hazel Run, MN, Boyd, MN, Granite Falls, MN, Clarkfield, MN, Kerkhoven, MN, Canby, MN, Milan, MN, Wood Lake, MN, Holloway, MN, Louisburg, MN, Clara City, MN, Nassau, MN, and Danvers, MN. 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.

FB Comments