Mortgage insurance

Top Mortgage Lenders in Wisconsin

Now we’ll rank the top mortgage lenders in Wisconsin, based on the most recent year’s completed loan volume.

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These are the largest lenders in The Badger State based on available HMDA data for 2021. Collectively, more than 800 lenders funded $70 billion there during the year.

Interestingly, it appears that Wisconsinites are big on using their own local companies instead of larger, national brands.

At least when it comes to home loans, as the top three mortgage companies are all headquartered in the state.

Read on to see which company led the way in mortgage origination last year in Wisconsin.

Top Mortgage Lenders in Wisconsin (Overall)

Ranking Company Name 2021 Loan Volume
1. Summit CU $2.7 billion
2. Associated Bank $2.4 billion
3. UW Credit Union $2.4 billion
4. Rocket Mortgage $2.3 billion
5. Wells Fargo $2.0 billion
6. Chase $1.9 billion
7. US Bank $1.8 billion
8. Landmark CU $1.8 billion
9. Fairway Independent $1.7 billion
10. Johnson Bank $1.6 billion

As noted, a Wisconsin-based lender topped the charts in 2021, per HMDA data from Richey May.

It was none other than the Madison-based Summit Credit Union, which funded $2.7 billion in the state of Wisconsin last year.

In second was Green Bay-based Associated Bank with a close $2.4 billion, followed by Madison-based University of Wisconsin Credit Union (UW Credit Union) with $2.4 billion.

This is interesting for a few reasons – one being that the top three are all Wisconsin-based, and the other that the top three consisted of two credit unions and a bank.

That bucks the trend of nonbank mortgage lenders ruling the roost in many other states throughout the nation.

In the fourth was the nation’s top mortgage lender, Rocket Mortgage, which funded $2.3 billion. They also happen to be situated fairly close to Wisconsin.

And in fifth was San Francisco-based Wells Fargo with $2.0 billion, formerly the top lender in the United States.

The rest of the top 10 included Chase, US Bank, Landmark Credit Union (New Berlin, WI), Fairway Independent Mortgage (Madison, WI), and Johnson Bank (Racine, WI).

All told, six of the top 10 mortgage lenders in Wisconsin are based in the state, which is pretty impressive.

That might lead all other states in terms of the number of homegrown companies in the top-10 list.

Top Wisconsin Mortgage Lenders (for Home Buyers)

Ranking Company Name 2021 Loan Volume
1. Associated Bank $1.2 billion
2. Fairway Independent $1.1 billion
3. Chase $878 million
4. US Bank $649 million
5. Summit CU $640 million
6. UW Credit Union $633 million
7. Johnson Bank $610 million
8. Wells Fargo $608 million
9. Rocket Mortgage $467 million
10. Newrez $442 million

If we look at home purchase loans only, Associated Bank took the top spot with $1.2 billion funded, followed by a nonbank lender Fairway Independent Mortgage with $1.1 billion.

In third was NYC-based Chase with $878 million, trailed by US Bank with $649 million and Summit CU with $640 million.

Others in the top-10 list for home buyers included UW Credit Union, Johnson Bank, Wells Fargo, Rocket Mortgage, and Newrez.

So when it came to purchase lending, five of the top 10 were Wisconsin-based. Still pretty impressive.

Generally, consumers tend to flock toward local companies when buying a home.

Top Wisconsin Refinance Lenders (for Existing Homeowners)

Ranking Company Name 2021 Loan Volume
1. Summit CU $1.8 billion
2. Rocket Mortgage $1.8 billion
3. UW Credit Union $1.7 billion
4. Wells Fargo $1.4 billion
5. Landmark CU $1.4 billion
6. Associated Bank $1.2 billion
7. US Bank $1.1 billion
8. Chase $968 million
9. Johnson Bank $907 million
10. Freedom Mortgage $830 million

When it came to mortgage refinances, amazingly a Wisconsin-based lender still took the top spot, but just barely.

Summit CU funded roughly $1.8 billion in refs last year, just enough to beat out Rocket Mortgage’s similar tally.

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

The rest of the best included Associated Bank, US Bank, Chase, Johnson Bank, and Freedom Mortgage.

Once again, five of the top 10 were Wisconsin-based mortgage lenders, another feat for the home team.

The Best Wisconsin Mortgage Lenders (by Customer Ratings)

Now let’s look at the top-rated Wisconsin mortgage lenders based on actual customer reviews, as opposed to mere loan volume.

While Summit CU is top overall, it’s hard to find mortgage-related reviews for credit unions. The same goes for banks, as they offer a variety of different services other than home loans.

If we consider mortgage lenders only, A+ Mortgage Services, Inc. out of Muskego has the best rating on Zillow, a 4.99/5 from over 400 reviews.

Several other Wisconsin-based lenders have 4.98/5 scores, including Waterstone Mortgage Corp., McGlone Mortgage, and Inlanta Mortgage.

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

Meanwhile, US Bank 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 big guys and the local companies are all pretty well regarded. But take the time to research companies, ask for referrals from friends/family, and obtain multiple rate quotes.

Doing so should boost your chances of having a positive home loan experience.

(photo: Gary Todd)

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