Top Mortgage Lenders in Springfield, IL

Which mortgage lender in the Springfield, IL area typically has the best rates? To help you narrow down where to shop for a mortgage, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Springfield, IL area by interest rate and market share. We maintain our independence by not accepting any compensation from the mortgage lenders we rank, and use data on all fixed rate mortgages that were closed in the past year to generate our rankings.

Going by historical data, the best mortgage lender in the Springfield, IL area in terms of interest rate is United Community Bank in Illinois, with an average “Rate Difference” of -0.12%. This means that, comparing similar borrowers, United Community Bank in Illinois provided a -0.12% lower interest rate for its customers than other lenders in the area. United Community Bank in Illinois has a market share of 15.6%. It is the most popular lender in the Springfield, IL area.

Our detailed ranking of mortgage lenders in 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, going by historical data, the cheapest lender for Conventional mortgages in Springfield, IL is United Community Bank in Illinois. If you want to take out a loan that is above conforming limits (above $548,250 or $822,375 depending on the area in 2021), 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. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.

Ranking of Mortgage Lenders in Springfield, IL

Mortgage Type:

Purchase/Refinance:

Lender Name	Rate Difference	Rate Rating	Market Share
United Community Bank in Illinois	-0.12%	(4.0)	15.61%
Marine Bank	-0.10%	(4.0)	12.10%
Bank of Springfield	-0.08%	(4.0)	14.30%
Heartland Credit Union IL	-0.06%	(4.0)	6.66%
Prairie State Bank and Trust	0.00%	(3.5)	2.73%
Carrollton Bank	0.01%	(3.5)	2.78%
Petefish Skiles & Co Bank	0.02%	(3.5)	1.10%
CEFCU	0.02%	(3.5)	2.56%
CNB Bank & Trust	0.02%	(3.5)	1.95%
Flat Branch Mortgage	0.02%	(3.5)	2.35%
USAA	0.05%	(3.0)	0.90%
Gershman Mortgage	0.06%	(3.0)	0.95%
Town and Country Bank	0.06%	(3.0)	8.72%
INB, National Association	0.08%	(3.0)	7.31%
Regions Bank	0.09%	(3.0)	0.88%
PNC Bank	0.13%	(3.0)	3.13%
New American Funding	0.13%	(3.0)	0.83%
US Bank	0.13%	(3.0)	3.51%
Wells Fargo Bank	0.14%	(3.0)	1.60%
Diamond Residential Mortgage	0.14%	(3.0)	1.13%
JPMorgan Chase Bank	0.18%	(2.5)	1.15%
Fairway Independent Mortgage Corporation	0.18%	(2.5)	1.28%
LeaderOne Financial Corporation	0.19%	(2.5)	2.00%
Quicken Loans	0.22%	(2.5)	4.46%

Lender Name	Rate Difference	Rate Rating	Market Share
Marine Bank	-0.10%	(4.0)	12.55%
United Community Bank in Illinois	-0.10%	(4.0)	12.51%
Bank of Springfield	-0.09%	(4.0)	13.15%
Heartland Credit Union IL	-0.06%	(4.0)	6.02%
Prairie State Bank and Trust	-0.00%	(3.5)	2.23%
Petefish Skiles & Co Bank	0.00%	(3.5)	0.76%
Carrollton Bank	0.01%	(3.5)	2.99%
CEFCU	0.01%	(3.5)	2.43%
CNB Bank & Trust	0.01%	(3.5)	1.59%
Flat Branch Mortgage	0.01%	(3.5)	3.55%
PNC Bank	0.03%	(3.5)	2.63%
Gershman Mortgage	0.04%	(3.5)	1.20%
USAA	0.05%	(3.5)	1.12%
Town and Country Bank	0.05%	(3.0)	10.08%
Regions Bank	0.07%	(3.0)	0.96%
INB, National Association	0.08%	(3.0)	8.25%
US Bank	0.09%	(3.0)	4.30%
Wells Fargo Bank	0.12%	(3.0)	1.99%
New American Funding	0.14%	(3.0)	1.04%
Diamond Residential Mortgage	0.14%	(3.0)	1.71%
JPMorgan Chase Bank	0.14%	(3.0)	1.16%
Quicken Loans	0.16%	(2.5)	3.31%
Fairway Independent Mortgage Corporation	0.18%	(2.5)	1.95%
LeaderOne Financial Corporation	0.22%	(2.5)	2.51%

Lender Name	Rate Difference	Rate Rating	Market Share
United Community Bank in Illinois	-0.15%	(4.0)	20.84%
Marine Bank	-0.09%	(4.0)	11.33%
Bank of Springfield	-0.05%	(4.0)	16.25%
Heartland Credit Union IL	-0.05%	(3.5)	7.75%
Carrollton Bank	-0.00%	(3.5)	2.43%
Prairie State Bank and Trust	0.02%	(3.5)	3.57%
CEFCU	0.04%	(3.5)	2.76%
CNB Bank & Trust	0.04%	(3.5)	2.56%
Petefish Skiles & Co Bank	0.04%	(3.5)	1.69%
USAA	0.05%	(3.5)	0.54%
Flat Branch Mortgage	0.06%	(3.0)	0.34%
Fairway Independent Mortgage Corporation	0.06%	(3.0)	0.13%
Diamond Residential Mortgage	0.06%	(3.0)	0.13%
LeaderOne Financial Corporation	0.07%	(3.0)	1.15%
Town and Country Bank	0.08%	(3.0)	6.41%
INB, National Association	0.08%	(3.0)	5.73%
New American Funding	0.08%	(3.0)	0.47%
Gershman Mortgage	0.09%	(3.0)	0.54%
Regions Bank	0.14%	(3.0)	0.74%
Wells Fargo Bank	0.16%	(2.5)	0.94%
PNC Bank	0.24%	(2.5)	3.98%
JPMorgan Chase Bank	0.24%	(2.5)	1.15%
US Bank	0.24%	(2.5)	2.16%
Quicken Loans	0.28%	(2.0)	6.41%

Lender Name	Rate Difference	Rate Rating	Market Share
United Community Bank in Illinois	-0.12%	(4.0)	18.01%
Marine Bank	-0.09%	(4.0)	12.13%
Bank of Springfield	-0.08%	(4.0)	15.72%
Heartland Credit Union IL	-0.05%	(4.0)	8.10%
Prairie State Bank and Trust	0.01%	(3.5)	3.32%
Carrollton Bank	0.01%	(3.5)	3.08%
Petefish Skiles & Co Bank	0.03%	(3.5)	1.34%
CEFCU	0.03%	(3.5)	3.11%
CNB Bank & Trust	0.03%	(3.5)	2.38%
USAA	0.06%	(3.0)	0.27%
INB, National Association	0.09%	(3.0)	8.47%
Town and Country Bank	0.09%	(3.0)	8.50%
Gershman Mortgage	0.11%	(3.0)	0.27%
Flat Branch Mortgage	0.11%	(3.0)	1.25%
Diamond Residential Mortgage	0.11%	(3.0)	0.27%
New American Funding	0.12%	(3.0)	0.24%
Regions Bank	0.13%	(3.0)	0.73%
Fairway Independent Mortgage Corporation	0.14%	(3.0)	0.43%
Wells Fargo Bank	0.15%	(3.0)	1.77%
US Bank	0.16%	(2.5)	3.32%
LeaderOne Financial Corporation	0.17%	(2.5)	0.49%
JPMorgan Chase Bank	0.19%	(2.5)	1.37%
PNC Bank	0.20%	(2.5)	2.74%
Quicken Loans	0.36%	(1.5)	2.68%

Lender Name	Rate Difference	Rate Rating	Market Share
Bank of Springfield	-0.09%	(4.0)	14.74%
United Community Bank in Illinois	-0.09%	(4.0)	15.05%
Marine Bank	-0.09%	(4.0)	12.51%
Heartland Credit Union IL	-0.06%	(4.0)	7.84%
Prairie State Bank and Trust	0.00%	(3.5)	2.91%
Petefish Skiles & Co Bank	0.01%	(3.5)	0.99%
Carrollton Bank	0.01%	(3.5)	3.37%
CEFCU	0.02%	(3.5)	3.17%
CNB Bank & Trust	0.02%	(3.5)	2.08%
USAA	0.04%	(3.5)	0.36%
PNC Bank	0.08%	(3.0)	2.34%
INB, National Association	0.09%	(3.0)	10.02%
Town and Country Bank	0.10%	(3.0)	9.91%
Gershman Mortgage	0.10%	(3.0)	0.31%
Flat Branch Mortgage	0.10%	(3.0)	1.92%
Diamond Residential Mortgage	0.11%	(3.0)	0.42%
Regions Bank	0.11%	(3.0)	0.78%
New American Funding	0.12%	(3.0)	0.31%
US Bank	0.12%	(3.0)	4.20%
Wells Fargo Bank	0.14%	(3.0)	2.28%
Fairway Independent Mortgage Corporation	0.14%	(3.0)	0.67%
JPMorgan Chase Bank	0.15%	(3.0)	1.45%
LeaderOne Financial Corporation	0.18%	(2.5)	0.62%
Quicken Loans	0.24%	(2.5)	1.76%

Lender Name	Rate Difference	Rate Rating	Market Share
United Community Bank in Illinois	-0.15%	(4.0)	22.21%
Marine Bank	-0.09%	(4.0)	11.59%
Bank of Springfield	-0.05%	(4.0)	17.12%
Heartland Credit Union IL	-0.04%	(3.5)	8.49%
Carrollton Bank	0.00%	(3.5)	2.66%
Prairie State Bank and Trust	0.02%	(3.5)	3.91%
CEFCU	0.04%	(3.5)	3.03%
CNB Bank & Trust	0.05%	(3.5)	2.80%
Petefish Skiles & Co Bank	0.05%	(3.5)	1.85%
Flat Branch Mortgage	0.06%	(3.0)	0.30%
Diamond Residential Mortgage	0.07%	(3.0)	0.07%
Fairway Independent Mortgage Corporation	0.07%	(3.0)	0.07%
Town and Country Bank	0.08%	(3.0)	6.49%
INB, National Association	0.08%	(3.0)	6.27%
USAA	0.08%	(3.0)	0.15%
LeaderOne Financial Corporation	0.11%	(3.0)	0.30%
Gershman Mortgage	0.11%	(3.0)	0.22%
New American Funding	0.12%	(3.0)	0.15%
Regions Bank	0.15%	(2.5)	0.66%
Wells Fargo Bank	0.16%	(2.5)	1.03%
JPMorgan Chase Bank	0.25%	(2.5)	1.25%
US Bank	0.27%	(2.0)	2.07%
PNC Bank	0.32%	(2.0)	3.32%
Quicken Loans	0.45%	(1.5)	3.99%

Lender Name	Rate Difference	Rate Rating	Market Share
Marine Bank	-0.19%	(4.5)	9.56%
United Community Bank in Illinois	-0.14%	(4.0)	2.80%
Town and Country Bank	-0.14%	(4.0)	10.49%
PNC Bank	-0.11%	(4.0)	5.83%
Bank of Springfield	-0.10%	(4.0)	7.93%
Flat Branch Mortgage	-0.06%	(4.0)	5.83%
INB, National Association	-0.03%	(3.5)	1.63%
Regions Bank	-0.02%	(3.5)	2.10%
US Bank	-0.01%	(3.5)	3.26%
Carrollton Bank	0.01%	(3.5)	1.40%
Gershman Mortgage	0.01%	(3.5)	4.20%
Quicken Loans	0.04%	(3.5)	14.69%
New American Funding	0.12%	(3.0)	4.43%
Diamond Residential Mortgage	0.13%	(3.0)	7.23%
Fairway Independent Mortgage Corporation	0.17%	(2.5)	6.99%
LeaderOne Financial Corporation	0.20%	(2.5)	11.66%

Lender Name	Rate Difference	Rate Rating	Market Share
Marine Bank	-0.20%	(4.5)	10.72%
United Community Bank in Illinois	-0.15%	(4.0)	3.22%
Town and Country Bank	-0.14%	(4.0)	11.80%
PNC Bank	-0.12%	(4.0)	4.02%
Bank of Springfield	-0.11%	(4.0)	8.58%
Flat Branch Mortgage	-0.07%	(4.0)	6.43%
INB, National Association	-0.04%	(3.5)	1.88%
Regions Bank	-0.04%	(3.5)	1.88%
US Bank	-0.02%	(3.5)	3.22%
Gershman Mortgage	-0.00%	(3.5)	4.02%
Carrollton Bank	0.00%	(3.5)	1.61%
Quicken Loans	0.07%	(3.0)	9.92%
New American Funding	0.12%	(3.0)	4.83%
Diamond Residential Mortgage	0.13%	(3.0)	8.04%
Fairway Independent Mortgage Corporation	0.17%	(2.5)	7.77%
LeaderOne Financial Corporation	0.22%	(2.5)	12.06%

Lender Name	Rate Difference	Rate Rating	Market Share
PNC Bank	-0.08%	(4.0)	17.86%
Quicken Loans	0.00%	(3.5)	46.43%
Marine Bank	0.02%	(3.5)	1.79%
LeaderOne Financial Corporation	0.03%	(3.5)	8.93%
New American Funding	0.03%	(3.5)	1.79%
Fairway Independent Mortgage Corporation	0.03%	(3.5)	1.79%
Diamond Residential Mortgage	0.03%	(3.5)	1.79%
Town and Country Bank	0.04%	(3.5)	1.79%
US Bank	0.04%	(3.5)	3.57%
Flat Branch Mortgage	0.04%	(3.5)	1.79%
Bank of Springfield	0.04%	(3.5)	3.57%
Regions Bank	0.05%	(3.5)	3.57%
Gershman Mortgage	0.05%	(3.0)	5.36%

Lender Name	Rate Difference	Rate Rating	Market Share
JPMorgan Chase Bank	-0.01%	(3.5)	16.67%
Regions Bank	-0.00%	(3.5)	33.33%
Bank of Springfield	0.00%	(3.5)	16.67%
US Bank	0.00%	(3.5)	16.67%
United Community Bank in Illinois	0.01%	(3.5)	16.67%

Lender Name	Rate Difference	Rate Rating	Market Share
JPMorgan Chase Bank	-0.01%	(3.5)	20.00%
Regions Bank	-0.00%	(3.5)	40.00%
US Bank	0.00%	(3.5)	20.00%
United Community Bank in Illinois	0.01%	(3.5)	20.00%

Lender Name	Rate Difference	Rate Rating	Market Share
Bank of Springfield	0.00%	(3.5)	100.00%

Lender Name	Rate Difference	Rate Rating	Market Share
Marine Bank	-0.10%	(4.0)	16.00%
Flat Branch Mortgage	-0.06%	(4.0)	10.18%
United Community Bank in Illinois	-0.05%	(4.0)	6.91%
Bank of Springfield	-0.02%	(3.5)	7.27%
Carrollton Bank	0.00%	(3.5)	1.45%
Town and Country Bank	0.01%	(3.5)	8.73%
PNC Bank	0.03%	(3.5)	3.64%
Gershman Mortgage	0.03%	(3.5)	4.00%
USAA	0.03%	(3.5)	9.82%
INB, National Association	0.04%	(3.5)	2.55%
Wells Fargo Bank	0.04%	(3.5)	2.18%
US Bank	0.04%	(3.5)	5.82%
New American Funding	0.04%	(3.5)	2.18%
LeaderOne Financial Corporation	0.05%	(3.5)	5.09%
Diamond Residential Mortgage	0.08%	(3.0)	1.82%
Quicken Loans	0.09%	(3.0)	9.82%
Fairway Independent Mortgage Corporation	0.14%	(3.0)	2.55%

Lender Name	Rate Difference	Rate Rating	Market Share
Marine Bank	-0.11%	(4.0)	16.67%
United Community Bank in Illinois	-0.06%	(4.0)	5.39%
Flat Branch Mortgage	-0.06%	(4.0)	13.73%
Bank of Springfield	-0.01%	(3.5)	6.86%
Carrollton Bank	0.01%	(3.5)	1.96%
Town and Country Bank	0.01%	(3.5)	8.82%
PNC Bank	0.02%	(3.5)	2.94%
Gershman Mortgage	0.03%	(3.5)	4.41%
INB, National Association	0.04%	(3.5)	3.43%
Wells Fargo Bank	0.04%	(3.5)	2.94%
US Bank	0.04%	(3.5)	6.86%
USAA	0.05%	(3.5)	10.29%
New American Funding	0.07%	(3.0)	0.98%
LeaderOne Financial Corporation	0.08%	(3.0)	2.94%
Quicken Loans	0.09%	(3.0)	5.88%
Diamond Residential Mortgage	0.09%	(3.0)	2.45%
Fairway Independent Mortgage Corporation	0.15%	(3.0)	3.43%

Lender Name	Rate Difference	Rate Rating	Market Share
Marine Bank	-0.09%	(4.0)	14.08%
United Community Bank in Illinois	-0.05%	(4.0)	11.27%
Bank of Springfield	-0.04%	(3.5)	8.45%
USAA	-0.02%	(3.5)	8.45%
LeaderOne Financial Corporation	0.01%	(3.5)	11.27%
New American Funding	0.02%	(3.5)	5.63%
US Bank	0.02%	(3.5)	2.82%
Town and Country Bank	0.02%	(3.5)	8.45%
PNC Bank	0.02%	(3.5)	5.63%
Gershman Mortgage	0.04%	(3.5)	2.82%
Quicken Loans	0.08%	(3.0)	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 of the data is 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 conditional on the commuting zone, 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 in Other Cities

This page contains information about the top mortgage lenders in the Springfield, IL area. For mortgage lender rankings in other cities, click here.