Prime Mortgage Lenders in Wisconsin

Now we’ll rank the highest mortgage lenders in Wisconsin, primarily based on the latest yr’s accomplished mortgage quantity.

These are the most important lenders in The Badger State primarily based on accessible HMDA knowledge for 2021. Collectively, greater than 800 lenders funded $70 billion there through the yr.

Curiously, it seems that Wisconsinites are massive on utilizing their very own native firms as a substitute of bigger, nationwide manufacturers.

At the very least in the case of residence loans, as the highest three mortgage firms are all headquartered within the state.

Learn on to see which firm led the way in which in mortgage origination final yr in Wisconsin.

Prime Mortgage Lenders in Wisconsin (Total)

As famous, a Wisconsin-based lender topped the charts in 2021, per HMDA knowledge from Richey Might.

It was none aside from Madison-based Summit Credit score Union, which funded $2.7 billion within the state of Wisconsin final yr.

In second was Inexperienced Bay-based Related Financial institution with a detailed $2.4 billion, adopted by Madison-based College of Wisconsin Credit score Union (UW Credit score Union) with $2.4 billion.

That is attention-grabbing for a number of causes – one being that the highest three are all Wisconsin-based, and the opposite that the highest three include two credit score unions and a financial institution.

That bucks the development of nonbank mortgage lenders ruling the roost in lots of different states all through the nation.

In fourth was the nation’s prime mortgage lender, Rocket Mortgage, which funded $2.3 billion. Additionally they occur to be located pretty near Wisconsin.

And in fifth was San Francisco-based Wells Fargo with $2.0 billion, previously the highest lender in the USA.

The remainder of the highest 10 included Chase, U.S. Financial institution, Landmark Credit score Union (New Berlin, WI), Fairway Impartial Mortgage (Madison, WI), and Johnson Financial institution (Racine, WI).

All instructed, six of the highest 10 mortgage lenders in Wisconsin are primarily based within the state, which is fairly spectacular.

Which may lead all different states when it comes to the variety of homegrown firms within the top-10 listing.

Prime Wisconsin Mortgage Lenders (for Dwelling Patrons)

If we take a look at residence buy loans solely, Related Financial institution took the highest spot with $1.2 billion funded, adopted by nonbank lender Fairway Impartial Mortgage with $1.1 billion.

In third was NYC-based Chase with $878 million, trailed by U.S. Financial institution with $649 million and Summit CU with $640 million.

Others within the top-10 listing for residence consumers included UW Credit score Union, Johnson Financial institution, Wells Fargo, Rocket Mortgage, and Newrez.

So when it got here to buy lending, 5 of the highest 10 have been Wisconsin-based. Nonetheless fairly spectacular.

Typically, customers are likely to flock towards native firms when shopping for a house.

Prime Wisconsin Refinance Lenders (for Current Owners)

When it got here to mortgage refinances, amazingly a Wisconsin-based lender nonetheless took the highest spot, however simply barely.

Summit CU funded roughly $1.8 billion in refis final yr, simply sufficient to beat out Rocket Mortgage’s related tally.

UW Credit score Union took third with $1.7 billion, adopted by Wells Fargo with $1.4 billion and Landmark CU with $1.4 billion.

The remainder of the most effective included Related Financial institution, U.S. Financial institution, Chase, Johnson Financial institution, and Freedom Mortgage.

As soon as once more, 5 of the highest 10 have been Wisconsin-based mortgage lenders, one other feat for the house workforce.

The Greatest Wisconsin Mortgage Lenders (by Buyer Rankings)

Now let’s take a look at the top-rated Wisconsin mortgage lenders primarily based on precise buyer critiques, versus mere mortgage quantity.

Whereas Summit CU is prime total, it’s exhausting to seek out mortgage-related critiques for credit score unions. The identical goes for banks, as they provide quite a lot of totally different providers aside from residence loans.

If we think about mortgage lenders solely, A+ Mortgage Companies, Inc. out of Muskego has the most effective score on Zillow, a 4.99/5 from over 400 critiques.

A number of different Wisconsin-based lenders have 4.98/5 scores, together with Waterstone Mortgage Corp., McGlone Mortgage, and Inlanta Mortgage.

Not far off is Fairway Impartial Mortgage (4.95/5), Homefinity (4.95/5), and Go Mortgage (4.90/5).

In the meantime, U.S. Financial institution has a 4.98/5 on Zillow, Wells Fargo and Chase have a 4.95/5, and Rocket Mortgage has a 4.48/5.

So the massive guys and the native firms are all fairly properly regarded. However take the time to analysis firms, ask for referrals from associates/household, and procure a number of fee quotes.

Doing so ought to increase your possibilities of having a constructive residence mortgage expertise.

(photograph: Gary Todd)