Safe Rate Rankings

Best Bank Mortgage Lenders in Milwaukee

Updated June 4, 2026

Rankings are a starting point, not a verdict. Safe Rate recommends speaking with 2-3 lenders to find the right fit for your home loan!

⚖️ The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.

🛡️ No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.

📊 HMDA 2024Built using publicly available originated loan data from the federal government.

🎯 Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.

Market

Total Lenders129

Total Loans16,440

Median Rate Spread0.31%

Milwaukee Market Insights

Johnson Bank is Safe Rate's top-ranked bank in Milwaukee, leading the composite scorecard across pricing, pullthrough, products, and local expertise.
There is often a pricing vs. pullthrough tradeoff in mortgage lending. In Milwaukee, Associated Bank National Association and Johnson Bank scores highest on pricing while National Exchange Bank and Trust and Johnson Bank leads on likelihood to close. That is why we encourage speaking with multiple lenders.

Explore Rankings by Type

Overall Rankings

All lenders in Milwaukee

By Loan Product

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Rank	Lender	Overall	Pricing	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	Johnson Bank BankDirect	Exceptional	Exceptional	Exceptional	Exceptional	$379Fees	0.119%Above	462
2	Associated Bank, National Association BankDirect	Exceptional	Exceptional	Strong	Exceptional	$425Fees	0.055%Below	569
3	Bank Five Nine BankDirect	Strong	Strong	Strong	Exceptional	$919Fees	0.210%Above	567
4	The Equitable Bank, S.S.B. BankDirect	Strong	Exceptional	Strong	Exceptional	$656Fees	0.023%Above	197
5	Waukesha State Bank BankDirect	Strong	Strong	Strong	Exceptional	$337Fees	0.149%Above	313
6	Bank First, N.A. BankDirect	Strong	Exceptional	Exceptional	Sound	$294Fees	0.049%Above	40
7	U.S. Bank National Association BankDirect	Strong	Strong	Strong	Strong	$264Fees	0.144%Above	230
8	Old National Bank BankDirect	Strong	Exceptional	Strong	Strong	$927Fees	0.065%Below	96
9	Great Midwest Bank, S.S.B. BankDirect	Strong	Strong	Strong	Exceptional	$523Fees	0.202%Above	277
10	National Exchange Bank and Trust BankDirect	Strong	Strong	Exceptional	Strong	$71Fees	0.041%Above	43
11	The Huntington National Bank BankDirect	Strong	Strong	Strong	Strong	$1,105Fees	0.335%Above	197
12	Westbury Bank BankDirect	Strong	Exceptional	Sound	Strong	$282Fees	0.204%Below	43
13	PyraMax Bank, FSB BankDirect	Strong	Strong	Sound	Strong	$719Fees	0.134%Above	82
14	JPMorgan Chase Bank, National Association BankDirect & Wholesale	Strong	Sound*	Strong	Strong	$1,927Fees	0.133%Above	357
15	BMO Bank National Association BankDirect	Strong	Sound	Sound	Strong	$39Credit	0.300%Above	160
16	PNC Bank, National Association BankDirect	Strong	Strong	Strong	Sound	$304Credit	0.167%Above	56
17	Bell Bank BankDirect	Strong	Acceptable	Exceptional	Strong	$1,949Fees	0.452%Above	153
18	Citizens Bank, National Association BankDirect	Strong	Strong	Strong	Sound	$318Fees	0.031%Above	43
19	Tri City National Bank BankDirect	Strong	Sound	Sound	Strong	$1,147Fees	0.208%Above	103
20	Barrington Bank & Trust Company, National Association BankDirect	Strong	Acceptable	Strong	Strong	$1,716Fees	0.241%Above	220
21	Wells Fargo Bank, National Association BankDirect	Strong	Strong	Sound	Sound	$2,133Fees	0.067%Above	65
22	Bank of England BankDirect	Sound	Acceptable	Strong	Strong	$2,103Fees	0.466%Above	279
23	Flagstar Bank, N.A. BankDirect & Wholesale	Sound	Acceptable*	Strong	Strong	$1,585Fees	0.469%Above	96
24	North Shore Bank BankDirect	Sound	Strong	Sound	Strong	$833Fees	0.230%Above	77
25	Ixonia Bank BankDirect	Sound	Mediocre	Strong	Strong	$1,960Fees	0.479%Above	215
26	NexBank BankWholesale	Sound	Sound*	Strong	Strong	$1,781Fees	0.414%Above	91
27	CIBM Bank BankDirect	Sound	Sound	Sound	Strong	$432Fees	0.367%Above	65
28	USAA Federal Savings Bank BankDirect	Sound	Sound	Sound	Sound	$1,295Fees	0.090%Below	38

❓ Frequently Asked Questions

How are mortgage lenders ranked in Milwaukee?+

Safe Rate ranks lenders using the 4 Ps framework, derived entirely from HMDA (Home Mortgage Disclosure Act) data: Pricing (how competitively a lender prices loans vs. the market benchmark), Pullthrough (how effectively a lender closes applications), Place (the lender's depth of expertise in Milwaukee), and Product (performance on specific loan types). Each lender receives a composite Safe Rate Score from 0–100. No lender pays to appear in the rankings.

What is the Safe Rate Score?+

The Safe Rate Score is a 0–100 composite index measuring a lender's performance across Pricing, Pullthrough, Place, and Product. Scores of 80 or above earn Champion status; scores of 60–79 earn Superstar status. All scores are calculated from verified HMDA data — no lender can pay to improve their position.

How many mortgage lenders are active in Milwaukee?+

Based on 2024 HMDA data, 129 lenders originated a combined 16,440 loans in Milwaukee. Safe Rate's rankings evaluate all of them — not just a curated shortlist.

What does the rate spread tell me about a lender in Milwaukee?+

Rate spread measures how much above the Average Prime Offer Rate (APOR) a lender charges. The median rate spread in Milwaukee is 0.31%. Lenders in Safe Rate's top rankings consistently price below this median, meaning borrowers typically pay less interest over the life of their loan.

What is HMDA data and why does Safe Rate use it?+

HMDA (Home Mortgage Disclosure Act) is a federal law requiring every mortgage lender to disclose every loan application annually — including rates, amounts, approvals, and denials. Safe Rate uses HMDA because it is government-verified, covers all lenders equally, and cannot be gamed. It is the most objective foundation available for lender rankings.

Does Safe Rate accept payment from lenders to appear in rankings?+

No. Safe Rate rankings are strictly data-driven. No lender can pay to appear in or improve their position in Safe Rate's rankings. The only factor that determines a lender's rank is their verified HMDA performance data.

What is the difference between a bank, credit union, and independent mortgage company?+

Banks and credit unions offer mortgages alongside checking, savings, and other products. Independent Mortgage Companies (IMCs) focus exclusively on originating loans and often offer more product variety and speed. In Milwaukee's rankings, all three institution types are evaluated on the same HMDA performance metrics.

How We Rank Lenders

Our rankings use a weighted average of scores across equally-weighted categories to evaluate lenders on a linear, raw performance scale.

Our Point System (Max 30 Points)

Pricing

Rate and fee competitiveness (33%)

Pull Through

Reliability in closing loans (33%)

Place

Local market expertise (33%)

Data Integrity & Updates

Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.

⚖️ Licensing & Disclosures

Lender rankings and market statistics are created by Dylan Hall, licensed mortgage loan officer (NMLS #1658740). Safe Rate is a mortgage technology platform; mortgage lending services are provided by PartnerOwn LLC dba Safe Rate Mortgage, a licensed mortgage broker and lender (NMLS #1590949). Safe Rate Mortgage is a lending partner of some of the lenders ranked on this page, and Safe Rate Inc. has software or service customers on this list; however, all rankings are calculated using objective, public Home Mortgage Disclosure Act (HMDA) datasets, completely independent of any corporate partnerships, client relationships, or compensation.