Top Mortgage Lenders in the Springfield, IL area

Which mortgage lender in the Springfield, IL 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 Springfield, IL 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 Springfield, IL area is United Community Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.13%. This means that United Community Bank provided a -0.13% lower interest rate for its customers than other lenders in Springfield, IL for a similar set of borrowers. United Community Bank has a market share of 15.6%. It is the most popular lender in the area.

Our detailed rankings of the mortgage lenders for the Springfield, IL 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 Springfield, IL is United Community 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 JPMorgan Chase Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Marine Bank. The cheapest VA mortgage provider is also Marine 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.

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
United Community Bank 1, -0.13% 15.60%
Marine Bank 2, -0.10% 12.10%
Bank Of Springfield 3, -0.08% 14.30%
Heartland Credit Union 4, -0.06% 6.66%
Prairie State Bank and Trust 5, 0.00% 2.73%
Carrollton Bank 6, 0.01% 2.78%
Petefish Skiles & Co Bank 7, 0.02% 1.10%
Citizens Equity First Credit Union (CEFCU) 8, 0.02% 2.55%
CNB Bank and Trust 9, 0.02% 1.95%
Flat Branch Mortgage Inc 10, 0.02% 2.35%
Usaa Federal Savings Bank 11, 0.05% 0.90%
Gershman Investment Corp 12, 0.06% 0.95%
Town and Country Banc Mortgage 13, 0.06% 8.72%
Inb, National Association 14, 0.08% 7.31%
Regions Bank 15, 0.09% 0.88%
Pnc Bank 16, 0.13% 3.13%
New American Funding 17, 0.13% 0.83%
Us Bank 18, 0.13% 3.51%
Wells Fargo Bank 19, 0.14% 1.60%
Diamond Residential Mtg Corp 20, 0.14% 1.13%
JPMorgan Chase Bank 21, 0.18% 1.15%
Fairway Independent Mort Corp 22, 0.18% 1.28%
LeaderOne Financial Corp 23, 0.19% 2.00%
Quicken Loans 24, 0.22% 4.48%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Marine Bank 1, -0.10% 12.55%
United Community Bank 2, -0.10% 12.51%
Bank Of Springfield 3, -0.09% 13.15%
Heartland Credit Union 4, -0.06% 6.02%
Prairie State Bank and Trust 5, -0.00% 2.23%
Petefish Skiles & Co Bank 6, 0.00% 0.76%
Carrollton Bank 7, 0.01% 2.99%
Citizens Equity First Credit Union (CEFCU) 8, 0.01% 2.43%
CNB Bank and Trust 9, 0.01% 1.59%
Flat Branch Mortgage Inc 10, 0.01% 3.55%
Pnc Bank 11, 0.03% 2.63%
Gershman Investment Corp 12, 0.04% 1.20%
Usaa Federal Savings Bank 13, 0.05% 1.12%
Town and Country Banc Mortgage 14, 0.05% 10.08%
Regions Bank 15, 0.07% 0.96%
Inb, National Association 16, 0.08% 8.25%
Us Bank 17, 0.09% 4.30%
Wells Fargo Bank 18, 0.12% 1.99%
New American Funding 19, 0.14% 1.04%
Diamond Residential Mtg Corp 20, 0.14% 1.71%
JPMorgan Chase Bank 21, 0.14% 1.16%
Quicken Loans 22, 0.16% 3.31%
Fairway Independent Mort Corp 23, 0.18% 1.95%
LeaderOne Financial Corp 24, 0.22% 2.51%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
United Community Bank 1, -0.15% 20.82%
Marine Bank 2, -0.09% 11.32%
Bank Of Springfield 3, -0.05% 16.24%
Heartland Credit Union 4, -0.05% 7.75%
Carrollton Bank 5, -0.00% 2.43%
Prairie State Bank and Trust 6, 0.02% 3.57%
Citizens Equity First Credit Union (CEFCU) 7, 0.04% 2.76%
CNB Bank and Trust 8, 0.04% 2.56%
Petefish Skiles & Co Bank 9, 0.04% 1.68%
Usaa Federal Savings Bank 10, 0.05% 0.54%
Flat Branch Mortgage Inc 11, 0.06% 0.34%
Fairway Independent Mort Corp 12, 0.06% 0.13%
Diamond Residential Mtg Corp 13, 0.06% 0.13%
LeaderOne Financial Corp 14, 0.07% 1.15%
Town and Country Banc Mortgage 15, 0.07% 6.40%
Inb, National Association 16, 0.08% 5.73%
New American Funding 17, 0.08% 0.47%
Gershman Investment Corp 18, 0.09% 0.54%
Regions Bank 19, 0.14% 0.74%
Wells Fargo Bank 20, 0.16% 0.94%
Pnc Bank 21, 0.24% 3.98%
JPMorgan Chase Bank 22, 0.24% 1.15%
Us Bank 23, 0.24% 2.16%
Quicken Loans 24, 0.28% 6.47%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
United Community Bank 1, -0.12% 18.00%
Marine Bank 2, -0.09% 12.12%
Bank Of Springfield 3, -0.08% 15.72%
Heartland Credit Union 4, -0.05% 8.10%
Prairie State Bank and Trust 5, 0.01% 3.32%
Carrollton Bank 6, 0.01% 3.08%
Petefish Skiles & Co Bank 7, 0.03% 1.34%
Citizens Equity First Credit Union (CEFCU) 8, 0.03% 3.11%
CNB Bank and Trust 9, 0.03% 2.38%
Usaa Federal Savings Bank 10, 0.06% 0.27%
Inb, National Association 11, 0.09% 8.47%
Town and Country Banc Mortgage 12, 0.09% 8.50%
Gershman Investment Corp 13, 0.11% 0.27%
Flat Branch Mortgage Inc 14, 0.11% 1.25%
Diamond Residential Mtg Corp 15, 0.11% 0.27%
New American Funding 16, 0.12% 0.24%
Regions Bank 17, 0.13% 0.73%
Fairway Independent Mort Corp 18, 0.14% 0.43%
Wells Fargo Bank 19, 0.15% 1.77%
Us Bank 20, 0.16% 3.32%
LeaderOne Financial Corp 21, 0.17% 0.49%
JPMorgan Chase Bank 22, 0.19% 1.37%
Pnc Bank 23, 0.20% 2.74%
Quicken Loans 24, 0.36% 2.71%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bank Of Springfield 1, -0.09% 14.74%
United Community Bank 2, -0.09% 15.05%
Marine Bank 3, -0.09% 12.51%
Heartland Credit Union 4, -0.06% 7.84%
Prairie State Bank and Trust 5, 0.00% 2.91%
Petefish Skiles & Co Bank 6, 0.01% 0.99%
Carrollton Bank 7, 0.01% 3.37%
Citizens Equity First Credit Union (CEFCU) 8, 0.02% 3.17%
CNB Bank and Trust 9, 0.02% 2.08%
Usaa Federal Savings Bank 10, 0.04% 0.36%
Pnc Bank 11, 0.08% 2.34%
Inb, National Association 12, 0.09% 10.02%
Town and Country Banc Mortgage 13, 0.10% 9.91%
Gershman Investment Corp 14, 0.10% 0.31%
Flat Branch Mortgage Inc 15, 0.10% 1.92%
Diamond Residential Mtg Corp 16, 0.11% 0.42%
Regions Bank 17, 0.11% 0.78%
New American Funding 18, 0.12% 0.31%
Us Bank 19, 0.12% 4.20%
Wells Fargo Bank 20, 0.14% 2.28%
Fairway Independent Mort Corp 21, 0.14% 0.67%
JPMorgan Chase Bank 22, 0.15% 1.45%
LeaderOne Financial Corp 23, 0.18% 0.62%
Quicken Loans 24, 0.24% 1.76%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
United Community Bank 1, -0.15% 22.20%
Marine Bank 2, -0.09% 11.58%
Bank Of Springfield 3, -0.05% 17.11%
Heartland Credit Union 4, -0.04% 8.48%
Carrollton Bank 5, 0.00% 2.65%
Prairie State Bank and Trust 6, 0.02% 3.91%
Citizens Equity First Credit Union (CEFCU) 7, 0.04% 3.02%
CNB Bank and Trust 8, 0.05% 2.80%
Petefish Skiles & Co Bank 9, 0.05% 1.84%
Flat Branch Mortgage Inc 10, 0.06% 0.29%
Diamond Residential Mtg Corp 11, 0.07% 0.07%
Fairway Independent Mort Corp 12, 0.07% 0.07%
Town and Country Banc Mortgage 13, 0.08% 6.49%
Inb, National Association 14, 0.08% 6.27%
Usaa Federal Savings Bank 15, 0.08% 0.15%
LeaderOne Financial Corp 16, 0.11% 0.29%
Gershman Investment Corp 17, 0.11% 0.22%
New American Funding 18, 0.12% 0.15%
Regions Bank 19, 0.15% 0.66%
Wells Fargo Bank 20, 0.16% 1.03%
JPMorgan Chase Bank 21, 0.25% 1.25%
Us Bank 22, 0.27% 2.06%
Pnc Bank 23, 0.32% 3.32%
Quicken Loans 24, 0.44% 4.06%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Marine Bank 1, -0.19% 9.56%
United Community Bank 2, -0.14% 2.80%
Town and Country Banc Mortgage 3, -0.14% 10.49%
Pnc Bank 4, -0.11% 5.83%
Bank Of Springfield 5, -0.10% 7.93%
Flat Branch Mortgage Inc 6, -0.06% 5.83%
Inb, National Association 7, -0.03% 1.63%
Regions Bank 8, -0.02% 2.10%
Us Bank 9, -0.01% 3.26%
Carrollton Bank 10, 0.01% 1.40%
Gershman Investment Corp 11, 0.01% 4.20%
Quicken Loans 12, 0.04% 14.69%
New American Funding 13, 0.12% 4.43%
Diamond Residential Mtg Corp 14, 0.13% 7.23%
Fairway Independent Mort Corp 15, 0.17% 6.99%
LeaderOne Financial Corp 16, 0.20% 11.66%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Marine Bank 1, -0.20% 10.72%
United Community Bank 2, -0.15% 3.22%
Town and Country Banc Mortgage 3, -0.14% 11.80%
Pnc Bank 4, -0.12% 4.02%
Bank Of Springfield 5, -0.11% 8.58%
Flat Branch Mortgage Inc 6, -0.07% 6.43%
Inb, National Association 7, -0.04% 1.88%
Regions Bank 8, -0.04% 1.88%
Us Bank 9, -0.02% 3.22%
Gershman Investment Corp 10, -0.00% 4.02%
Carrollton Bank 11, 0.00% 1.61%
Quicken Loans 12, 0.07% 9.92%
New American Funding 13, 0.12% 4.83%
Diamond Residential Mtg Corp 14, 0.13% 8.04%
Fairway Independent Mort Corp 15, 0.17% 7.77%
LeaderOne Financial Corp 16, 0.22% 12.06%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Pnc Bank 1, -0.08% 17.86%
Quicken Loans 2, 0.00% 46.43%
Marine Bank 3, 0.02% 1.79%
LeaderOne Financial Corp 4, 0.03% 8.93%
New American Funding 5, 0.03% 1.79%
Fairway Independent Mort Corp 6, 0.03% 1.79%
Diamond Residential Mtg Corp 7, 0.03% 1.79%
Town and Country Banc Mortgage 8, 0.04% 1.79%
Us Bank 9, 0.04% 3.57%
Flat Branch Mortgage Inc 10, 0.04% 1.79%
Bank Of Springfield 11, 0.04% 3.57%
Regions Bank 12, 0.05% 3.57%
Gershman Investment Corp 13, 0.05% 5.36%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
JPMorgan Chase Bank 1, -0.01% 16.67%
Regions Bank 2, -0.00% 33.33%
Bank Of Springfield 3, 0.00% 16.67%
Us Bank 4, 0.00% 16.67%
United Community Bank 5, 0.01% 16.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
JPMorgan Chase Bank 1, -0.01% 20.00%
Regions Bank 2, -0.00% 40.00%
Us Bank 3, 0.00% 20.00%
United Community Bank 4, 0.01% 20.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Bank Of Springfield 1, 0.00% 100.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Marine Bank 1, -0.10% 16.00%
Flat Branch Mortgage Inc 2, -0.06% 10.18%
United Community Bank 3, -0.05% 6.91%
Bank Of Springfield 4, -0.02% 7.27%
Carrollton Bank 5, 0.00% 1.45%
Town and Country Banc Mortgage 6, 0.01% 8.73%
Pnc Bank 7, 0.03% 3.64%
Gershman Investment Corp 8, 0.03% 4.00%
Usaa Federal Savings Bank 9, 0.03% 9.82%
Inb, National Association 10, 0.04% 2.55%
Wells Fargo Bank 11, 0.04% 2.18%
Us Bank 12, 0.04% 5.82%
New American Funding 13, 0.04% 2.18%
LeaderOne Financial Corp 14, 0.05% 5.09%
Diamond Residential Mtg Corp 15, 0.08% 1.82%
Quicken Loans 16, 0.09% 9.82%
Fairway Independent Mort Corp 17, 0.14% 2.55%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Marine Bank 1, -0.11% 16.67%
United Community Bank 2, -0.06% 5.39%
Flat Branch Mortgage Inc 3, -0.06% 13.73%
Bank Of Springfield 4, -0.01% 6.86%
Carrollton Bank 5, 0.01% 1.96%
Town and Country Banc Mortgage 6, 0.01% 8.82%
Pnc Bank 7, 0.02% 2.94%
Gershman Investment Corp 8, 0.03% 4.41%
Inb, National Association 9, 0.04% 3.43%
Wells Fargo Bank 10, 0.04% 2.94%
Us Bank 11, 0.04% 6.86%
Usaa Federal Savings Bank 12, 0.05% 10.29%
New American Funding 13, 0.07% 0.98%
LeaderOne Financial Corp 14, 0.08% 2.94%
Quicken Loans 15, 0.09% 5.88%
Diamond Residential Mtg Corp 16, 0.09% 2.45%
Fairway Independent Mort Corp 17, 0.15% 3.43%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Marine Bank 1, -0.09% 14.08%
United Community Bank 2, -0.05% 11.27%
Bank Of Springfield 3, -0.04% 8.45%
Usaa Federal Savings Bank 4, -0.02% 8.45%
LeaderOne Financial Corp 5, 0.01% 11.27%
New American Funding 6, 0.02% 5.63%
Us Bank 7, 0.02% 2.82%
Town and Country Banc Mortgage 8, 0.02% 8.45%
Pnc Bank 9, 0.02% 5.63%
Gershman Investment Corp 10, 0.04% 2.82%
Quicken Loans 11, 0.08% 21.13%

* Data is compiled for the Springfield, IL commuting zone area, which comprises of counties of Christian County, IL, Macoupin County, IL, Menard County, IL, Montgomery County, IL, and Sangamon County, IL. This includes cities/towns/communities of Springfield, IL as well as Chatham, IL, Rochester, IL, Sherman, IL, Taylorville, IL, Thayer, IL, Pawnee, IL, Virden, IL, Pleasant Plains, IL, Spaulding, IL, Jerome, IL, Greenview, IL, Carlinville, IL, Illiopolis, IL, Staunton, IL, Shipman, IL, Lake Petersburg, IL, Harvel, IL, Royal Lakes, IL, Pana, IL, Litchfield, IL, Eagarville, IL, Mount Auburn, IL, Schram City, IL, Mount Olive, IL, Gillespie, IL, Walshville, IL, Medora, IL, Tallula, IL, Farmersville, IL, Palmyra, IL, Taylor Springs, IL, Wenonah, IL, Witt, IL, and Stonington, IL. 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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