Safe Rate Rankings

Best Conventional Mortgage Lenders in Madison

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 Lenders65

Total Loans7,150

Median Rate Spread0.13%

Madison Market Insights

University of Wisconsin Credit Union is Safe Rate's top-ranked Conventional lender in Madison, leading on pricing, pullthrough, Conventional product expertise, and local knowledge.
There is often a pricing vs. pullthrough tradeoff in mortgage lending. In Madison, Associated Bank National Association and Johnson Bank scores highest on Conventional pricing while Bank First and Johnson Bank leads on likelihood to close. That is why we encourage speaking with multiple lenders.
United Wholesale Mortgage (UWM) ranks #12 in Madison, serving as the platform behind many independent local brokers who live and work in the community. A local broker knows the neighborhoods, the local market, and is personally invested in your outcome. Real estate agents often prefer referring local brokers for their accessibility and responsiveness, qualities that matter when a deal is moving fast. Pricing and experience can vary by broker.
Popular names in Madison: Rocket Mortgage (#14) and University of Wisconsin Credit Union (#1).

Explore Rankings by Type

Overall Rankings

All lenders in Madison

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By Institution Type

Banks Credit Unions Mortgage Companies

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Rank	Lender	Overall	Pricing	Product	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	University of Wisconsin Credit Union Credit UnionDirect	Exceptional	Strong	Exceptional	Strong	Exceptional	$301Fees	0.127%Above	1,316
2	Summit Credit Union Credit UnionDirect	Exceptional	Exceptional	Exceptional	Strong	Exceptional	$146Fees	0.137%Below	1,027
3	Johnson Bank BankDirect	Exceptional	Exceptional	Exceptional	Exceptional	Strong	$570Fees	0.059%Below	176
4	Associated Bank, National Association BankDirect	Strong	Exceptional	Exceptional	Strong	Strong	$790Fees	0.205%Below	70
5	U.S. Bank National Association BankDirect	Strong	Strong	Exceptional	Strong	Strong	$29Credit	0.123%Above	139
6	Bank First, N.A. BankDirect	Strong	Exceptional	Strong	Exceptional	Sound	$346Fees	0.010%Above	29
7	Old National Bank BankDirect	Strong	Exceptional	Exceptional	Strong	Strong	$1,328Fees	0.089%Below	97
8	DUPACO COMMUNITY Credit UnionDirect	Strong	Exceptional	Exceptional	Exceptional	Sound	$2,043Fees	0.461%Below	25
9	THOMPSON KANE & COMPANY, INC Independent Mortgage CompanyDirect	Strong	Sound	Strong	Exceptional	Exceptional	$1,773Fees	0.279%Above	549
10	The Bank of New Glarus BankDirect	Strong	Strong	Strong	Strong	Exceptional	$583Fees	0.275%Above	240
11	The Park Bank BankDirect	Strong	Exceptional	Sound	Strong	Strong	$309Fees	0.082%Below	151
12	UNITED WHOLESALE MORTGAGE, LLC Independent Mortgage CompanyWholesale	Strong	Acceptable*	Exceptional	Exceptional	Strong	$1,854Fees	0.011%Below	126
13	Barrington Bank & Trust Company, National Association BankDirect	Strong	Sound	Exceptional	Strong	Exceptional	$2,020Fees	0.075%Above	438
14	ROCKET MORTGAGE, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Exceptional	Strong	$4,143Fees	0.325%Above	191
15	NAVY FEDERAL CREDIT UNION Credit UnionDirect	Strong	Exceptional	Exceptional	Sound	Sound	$1,001Fees	0.607%Below	29
16	Bell Bank BankDirect	Strong	Acceptable	Exceptional	Strong	Strong	$2,966Fees	0.097%Above	240
17	Lake Ridge Bank BankDirect	Strong	Exceptional	Sound	Sound	Exceptional	$457Fees	0.031%Above	178
18	JPMorgan Chase Bank, National Association BankDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Strong	$2,116Fees	0.136%Above	88
19	The Huntington National Bank BankDirect	Strong	Strong	Exceptional	Strong	Sound	$1,528Fees	0.334%Above	30
20	FAIRWAY INDEPENDENT MORTGAGE CORPORATION Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Strong	$1,134Fees	0.016%Above	444
21	Landmark Credit Union Credit UnionDirect	Strong	Strong	Strong	Strong	Sound	$738Fees	0.053%Below	19
22	Morgan Stanley Private Bank, National Association BankDirect	Strong	Exceptional	Strong	Sound	Sound	$446Fees	0.356%Below	16
23	GUILD MORTGAGE COMPANY LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Strong	$3,621Fees	0.240%Above	237
24	Bank Five Nine BankDirect	Strong	Strong	Strong	Strong	Sound	$1,221Fees	0.001%Below	36
25	Nations Lending Corporation Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Exceptional	Strong	$1,773Fees	0.489%Above	64
26	Prosperity Home Mortgage, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Strong	$2,041Fees	0.130%Above	148
27	LOANDEPOT.COM, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Sound	$3,590Fees	0.183%Above	40
28	Wells Fargo Bank, National Association BankDirect	Strong	Strong	Exceptional	Sound	Sound	$2,087Fees	0.079%Below	31
29	CROSSCOUNTRY MORTGAGE, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Sound	$2,971Fees	0.536%Above	70
30	Wings Financial Credit Union Credit UnionDirect	Strong	Strong	Strong	Sound	Sound	$784Fees	0.052%Below	46
31	GUARANTEED RATE, INC. Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Sound	$2,488Fees	0.145%Above	33
32	ARK-LA-TEX FINANCIAL SERVICES, LLC. Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Sound	$1,697Fees	0.299%Above	18
33	MUTUAL OF OMAHA MORTGAGE, INC. Independent Mortgage CompanyDirect	Strong	Strong	Strong	Sound	Sound	$1,484Fees	0.022%Below	26
34	NEWREZ LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Sound	Sound	$1,755Fees	0.121%Above	66
35	BMO Bank National Association BankDirect	Strong	Strong	Strong	Sound	Sound	$520Fees	0.263%Above	36
36	Ixonia Bank BankDirect	Sound	Mediocre	Exceptional	Strong	Sound	$3,354Fees	0.375%Above	60
37	PENNYMAC LOAN SERVICES, LLC Independent Mortgage CompanyDirect & Wholesale	Sound	Sound*	Exceptional	Sound	Sound	$555Fees	0.166%Below	21
38	Heartland Credit Union (Madison) Credit UnionDirect	Sound	Strong	Sound	Sound	Strong	$486Fees	0.027%Above	64
39	Sierra Pacific Mortgage Company, Inc. Independent Mortgage CompanyDirect & Wholesale	Sound	Acceptable*	Exceptional	Strong	Sound	$822Fees	0.183%Below	23
40	Merchants Bank of Indiana BankDirect & Wholesale	Sound	Sound*	Strong	Sound	Sound	$1,998Fees	0.047%Below	19
41	AMERIHOME MORTGAGE COMPANY, LLC Independent Mortgage CompanyDirect & Wholesale	Sound	Sound*	Strong	Strong	Sound	$1,652Fees	0.230%Above	16
42	Synergy One Lending, Inc. Independent Mortgage CompanyDirect	Sound	Acceptable	Strong	Strong	Sound	$3,219Fees	0.506%Above	23
43	Bank of England BankDirect	Sound	Acceptable	Strong	Sound	Sound	$1,102Fees	0.502%Above	20
44	One Community Bank BankDirect	Sound	Sound	Acceptable	Sound	Strong	$1,029Fees	0.249%Above	36
45	USAA Federal Savings Bank BankDirect	Sound	Sound	Strong	Acceptable	Sound	$2,237Fees	0.187%Below	17
46	COMPEER FINANCIAL, FLCA Independent Mortgage CompanyDirect	Sound	Mediocre	Strong	Sound	Sound	$3,241Fees	0.731%Above	27

❓ Frequently Asked Questions

How are mortgage lenders ranked in Madison, WI?+

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 Madison, WI), 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 Madison, WI?+

Based on 2024 HMDA data, 65 lenders originated a combined 7,150 loans in Madison, WI. Safe Rate's rankings evaluate all of them — not just a curated shortlist.

What does the rate spread tell me about a lender in Madison, WI?+

Rate spread measures how much above the Average Prime Offer Rate (APOR) a lender charges. The median rate spread in Madison, WI is 0.13%. 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 Madison, WI'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 40 Points)

Pricing

Rate and fee competitiveness (25%)

Pull Through

Reliability in closing loans (25%)

Product

Specialization in the loan type (25%)

Place

Local market expertise (25%)

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.