Top Mortgage Lenders in the Winona Lake, IN area

Which mortgage lender in the Winona Lake, 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 Winona Lake, 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 Winona Lake, IN area is Beacon Credit Union, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.16%. This means that Beacon Credit Union provided a -0.16% lower interest rate for its customers than other lenders in Winona Lake, IN for a similar set of borrowers. Beacon Credit Union has a market share of 5.4%. On the other hand, the most popular lender in the market is Ruoff Home Mortgage, with a market share of 23.2%. Ruoff Home Mortgage is an average rate lender in this area, with a “Rate Difference” of -0.01% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Winona Lake, 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 Winona Lake, IN is Beacon 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 MutualBank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Pnc Bank. The cheapest VA mortgage provider is Pnc 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
Beacon Credit Union 1, -0.16% 5.38%
MutualBank 2, -0.11% 8.78%
Interra Credit Union 3, -0.05% 2.69%
1St Source Bank 4, -0.04% 3.12%
Lake City Bank 5, -0.04% 7.86%
Ruoff Home Mortgage 6, -0.01% 23.16%
First Federal Savings Bank 7, 0.01% 18.63%
First Farmers Bank & Trust 8, 0.02% 2.34%
Pnc Bank 9, 0.02% 3.33%
JPMorgan Chase Bank 10, 0.02% 2.34%
Hallmark Home Mortgage 11, 0.04% 2.55%
Teachers Credit Union 12, 0.05% 4.32%
Quicken Loans 13, 0.12% 9.35%
Union Home Mortgage Company 14, 0.14% 6.16%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Beacon Credit Union 1, -0.07% 2.80%
MutualBank 2, -0.05% 5.48%
1St Source Bank 3, -0.05% 2.80%
Interra Credit Union 4, -0.04% 2.07%
First Federal Savings Bank 5, -0.03% 19.73%
Ruoff Home Mortgage 6, -0.02% 32.52%
Pnc Bank 7, -0.01% 2.92%
Teachers Credit Union 8, -0.01% 1.71%
Lake City Bank 9, -0.01% 7.19%
JPMorgan Chase Bank 10, 0.03% 2.07%
First Farmers Bank & Trust 11, 0.03% 1.83%
Hallmark Home Mortgage 12, 0.03% 3.41%
Quicken Loans 13, 0.07% 6.09%
Union Home Mortgage Company 14, 0.15% 9.38%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Beacon Credit Union 1, -0.20% 8.97%
MutualBank 2, -0.14% 13.37%
Interra Credit Union 3, -0.07% 3.55%
Lake City Bank 4, -0.06% 8.80%
1St Source Bank 5, -0.02% 3.55%
Ruoff Home Mortgage 6, -0.00% 10.15%
First Farmers Bank & Trust 7, 0.01% 3.05%
JPMorgan Chase Bank 8, 0.02% 2.71%
Union Home Mortgage Company 9, 0.03% 1.69%
Hallmark Home Mortgage 10, 0.05% 1.35%
Pnc Bank 11, 0.06% 3.89%
Teachers Credit Union 12, 0.07% 7.95%
First Federal Savings Bank 13, 0.08% 17.09%
Quicken Loans 14, 0.15% 13.87%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Beacon Credit Union 1, -0.16% 6.34%
MutualBank 2, -0.11% 10.01%
Interra Credit Union 3, -0.05% 3.00%
1St Source Bank 4, -0.04% 3.42%
Lake City Bank 5, -0.03% 9.26%
Ruoff Home Mortgage 6, -0.03% 18.35%
First Federal Savings Bank 7, 0.02% 21.35%
First Farmers Bank & Trust 8, 0.03% 2.75%
Pnc Bank 9, 0.03% 3.67%
JPMorgan Chase Bank 10, 0.03% 2.75%
Teachers Credit Union 11, 0.06% 5.00%
Hallmark Home Mortgage 12, 0.07% 1.75%
Union Home Mortgage Company 13, 0.13% 5.34%
Quicken Loans 14, 0.19% 7.01%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Beacon Credit Union 1, -0.06% 3.50%
MutualBank 2, -0.05% 6.70%
1St Source Bank 3, -0.04% 3.35%
Ruoff Home Mortgage 4, -0.03% 25.72%
Interra Credit Union 5, -0.03% 2.44%
First Federal Savings Bank 6, -0.02% 24.05%
Pnc Bank 7, -0.00% 3.20%
Teachers Credit Union 8, -0.00% 2.13%
Lake City Bank 9, -0.00% 8.98%
JPMorgan Chase Bank 10, 0.04% 2.59%
First Farmers Bank & Trust 11, 0.04% 2.28%
Hallmark Home Mortgage 12, 0.08% 2.28%
Quicken Loans 13, 0.12% 4.57%
Union Home Mortgage Company 14, 0.15% 8.22%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Beacon Credit Union 1, -0.20% 9.78%
MutualBank 2, -0.14% 14.02%
Interra Credit Union 3, -0.07% 3.69%
Lake City Bank 4, -0.06% 9.59%
1St Source Bank 5, -0.03% 3.51%
Ruoff Home Mortgage 6, -0.01% 9.41%
First Farmers Bank & Trust 7, 0.01% 3.32%
JPMorgan Chase Bank 8, 0.02% 2.95%
Union Home Mortgage Company 9, 0.03% 1.85%
Hallmark Home Mortgage 10, 0.05% 1.11%
Pnc Bank 11, 0.06% 4.24%
Teachers Credit Union 12, 0.08% 8.49%
First Federal Savings Bank 13, 0.08% 18.08%
Quicken Loans 14, 0.23% 9.96%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Pnc Bank 1, -0.04% 1.29%
Hallmark Home Mortgage 2, -0.04% 6.45%
Quicken Loans 3, -0.04% 25.16%
1St Source Bank 4, -0.03% 0.65%
Ruoff Home Mortgage 5, -0.01% 53.55%
First Federal Savings Bank 6, 0.03% 1.94%
Union Home Mortgage Company 7, 0.17% 10.97%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Hallmark Home Mortgage 1, -0.06% 7.09%
Pnc Bank 2, -0.05% 1.57%
1St Source Bank 3, -0.03% 0.79%
Quicken Loans 4, -0.03% 13.39%
Ruoff Home Mortgage 5, -0.02% 61.42%
First Federal Savings Bank 6, 0.02% 2.36%
Union Home Mortgage Company 7, 0.16% 13.39%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.01% 78.57%
Ruoff Home Mortgage 2, 0.05% 17.86%
Hallmark Home Mortgage 3, 0.05% 3.57%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
MutualBank 1, -0.01% 26.67%
Interra Credit Union 2, -0.00% 13.33%
Teachers Credit Union 3, -0.00% 6.67%
Ruoff Home Mortgage 4, 0.00% 6.67%
1St Source Bank 5, 0.00% 13.33%
First Federal Savings Bank 6, 0.01% 26.67%
Quicken Loans 7, 0.01% 6.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Interra Credit Union 1, -0.00% 20.00%
First Federal Savings Bank 2, -0.00% 20.00%
MutualBank 3, -0.00% 20.00%
Ruoff Home Mortgage 4, 0.00% 20.00%
Quicken Loans 5, 0.01% 20.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
MutualBank 1, -0.01% 30.00%
Teachers Credit Union 2, -0.00% 10.00%
Interra Credit Union 3, -0.00% 10.00%
1St Source Bank 4, 0.00% 20.00%
First Federal Savings Bank 5, 0.01% 30.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Pnc Bank 1, -0.04% 2.33%
Hallmark Home Mortgage 2, -0.03% 11.63%
Quicken Loans 3, -0.02% 18.60%
Ruoff Home Mortgage 4, -0.00% 53.49%
Union Home Mortgage Company 5, 0.06% 13.95%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Pnc Bank 1, -0.05% 3.12%
Hallmark Home Mortgage 2, -0.04% 12.50%
Quicken Loans 3, -0.03% 6.25%
Ruoff Home Mortgage 4, -0.00% 59.38%
Union Home Mortgage Company 5, 0.05% 18.75%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Hallmark Home Mortgage 1, -0.01% 9.09%
Ruoff Home Mortgage 2, -0.00% 36.36%
Quicken Loans 3, 0.00% 54.55%

* Data is compiled for the Winona Lake, IN commuting zone area, which comprises of counties of Fulton County, IN, Kosciusko County, IN, and Wabash County, IN. This includes cities/towns/communities of Winona Lake, IN as well as Warsaw, IN, Rochester, IN, Syracuse, IN, North Webster, IN, Wabash, IN, Nappanee, IN, Etna Green, IN, Leesburg, IN, Silver Lake, IN, North Manchester, IN, Claypool, IN, Akron, IN, Laketon, IN, La Fontaine, IN, Sidney, IN, Roann, IN, Lagro, IN, and Kewanna, IN. 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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