Signature Mortgage Corporation Rates, Fees & Info

AKRON, OH

LEI: 5493009N6Q6LPQ4CL708

Tax ID: 31-1488064

5 stars - out of 5 stars, based on 38 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Signature Mortgage Corporation is a smaller mortgage company specializing in Home Purchase and Refi loans. Signature Mortgage Corporation has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Canton, Akron, Cleveland, Columbus, and Naples among others. Signature Mortgage Corporation has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Signature Mortgage Corporation is typically an average fee lendor.


Originations

1,442

Origination Dollar Volume (All Markets)

$287,370,000
Show all (6) awards

Relative Rate

Signature Mortgage Corporation's average 30 year fixed rate mortgage of loans were 3.07%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.08%.

Relative Fees

Signature Mortgage Corporation's average total fees for a 30 year fixed rate mortgage are $4,284.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CANTON-MASSILLON, OH (FHA|USDA|VA) 669 $125,475,000 $187,556 $3,791 2.99%
AKRON, OH (FHA|USDA|VA) 222 $42,230,000 $190,225 $3,863 2.98%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 121 $28,125,000 $232,438 $3,823 2.91%
COLUMBUS, OH (FHA|USDA|VA) 38 $9,870,000 $259,737 $3,738 2.91%
Outside of Metro Areas 45 $8,535,000 $189,667 $4,834 2.97%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 15 $5,815,000 $387,667 $6,454 2.94%
Wooster, OH (FHA|USDA|VA) 25 $4,625,000 $185,000 $3,936 2.89%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 13 $4,355,000 $335,000 $6,341 3.02%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 19 $3,995,000 $210,263 $5,710 3.03%
New Philadelphia-Dover, OH (FHA|USDA|VA) 25 $3,955,000 $158,200 $3,414 2.94%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 15 $3,675,000 $245,000 $3,965 2.89%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 14 $2,780,000 $198,571 $3,911 3.08%
TOLEDO, OH (FHA|USDA|VA) 6 $1,940,000 $323,333 $4,346 3.10%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 10 $1,900,000 $190,000 $4,414 2.93%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 8 $1,730,000 $216,250 $6,070 3.08%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $1,720,000 $286,667 $6,002 2.98%
JACKSONVILLE, FL (FHA|USDA|VA) 6 $1,420,000 $236,667 $4,891 2.85%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 5 $1,355,000 $271,000 $5,203 2.43%
FAYETTEVILLE, NC (FHA|USDA|VA) 7 $1,275,000 $182,143 $5,433 3.13%
OCALA, FL (FHA|USDA|VA) 6 $1,240,000 $206,667 $5,910 3.16%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 6 $1,140,000 $190,000 $5,311 3.06%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $955,000 $318,333 $5,146 3.33%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $925,000 $185,000 $4,448 3.28%
PANAMA CITY, FL (FHA|USDA|VA) 4 $920,000 $230,000 $4,136 2.94%
WINSTON-SALEM, NC (FHA|USDA|VA) 6 $910,000 $151,667 $5,390 3.21%
Ashtabula, OH (FHA|USDA|VA) 6 $860,000 $143,333 $4,715 2.92%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $845,000 $281,667 $5,860 2.94%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 4 $840,000 $210,000 $5,991 3.44%
RALEIGH-CARY, NC (FHA|USDA|VA) 4 $800,000 $200,000 $4,260 2.97%
ASHEVILLE, NC (FHA|USDA|VA) 3 $795,000 $265,000 $4,014 2.92%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 3 $785,000 $261,667 $2,740 2.92%
Salem, OH (FHA|USDA|VA) 5 $785,000 $157,000 $4,413 2.85%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $770,000 $385,000 $4,907 2.63%
PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $750,000 $187,500 $4,912 3.00%
THE VILLAGES, FL (FHA|USDA|VA) 2 $720,000 $360,000 $4,984 3.00%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 4 $720,000 $180,000 $5,787 3.22%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 3 $665,000 $221,667 $6,329 3.33%
SAVANNAH, GA (FHA|USDA|VA) 3 $655,000 $218,333 $6,273 3.33%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $595,000 $198,333 $3,961 2.92%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 3 $555,000 $185,000 $4,807 2.92%
Sidney, OH (FHA|USDA|VA) 3 $545,000 $181,667 $6,620 3.17%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $530,000 $265,000 $5,627 3.06%
DAYTON-KETTERING, OH (FHA|USDA|VA) 3 $515,000 $171,667 $3,450 2.96%
Mount Vernon, OH (FHA|USDA|VA) 2 $510,000 $255,000 $4,569 3.06%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 3 $475,000 $158,333 $3,004 2.71%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $450,000 $225,000 $3,481 2.75%
Elizabeth City, NC (FHA|USDA|VA) 2 $430,000 $215,000 $6,212 2.88%
Ashland, OH (FHA|USDA|VA) 3 $425,000 $141,667 $2,952 2.94%
SPRINGFIELD, OH (FHA|USDA|VA) 2 $400,000 $200,000 $5,097 3.00%
GREENVILLE, NC (FHA|USDA|VA) 2 $370,000 $185,000 $5,553 2.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,503 2.88%
WHEELING, WV-OH (FHA|USDA|VA) 2 $340,000 $170,000 $4,872 3.06%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 2 $340,000 $170,000 $4,415 3.56%
Statesboro, GA (FHA|USDA|VA) 2 $330,000 $165,000 $5,336 3.06%
Rockingham, NC (FHA|USDA|VA) 2 $320,000 $160,000 $6,343 3.31%
FORT WAYNE, IN (FHA|USDA|VA) 1 $315,000 $315,000 $8,631 3.25%
Portsmouth, OH (FHA|USDA|VA) 2 $310,000 $155,000 $5,171 2.88%
MIDLAND, MI (FHA|USDA|VA) 2 $290,000 $145,000 $5,924 3.44%
WARNER ROBINS, GA (FHA|USDA|VA) 2 $280,000 $140,000 $5,300 3.75%
Thomasville, GA (FHA|USDA|VA) 1 $265,000 $265,000 $8,561 3.13%
Bucyrus-Galion, OH (FHA|USDA|VA) 2 $260,000 $130,000 $4,189 3.38%
Albemarle, NC (FHA|USDA|VA) 2 $260,000 $130,000 $4,987 3.44%
Warsaw, IN (FHA|USDA|VA) 1 $255,000 $255,000 $1,972 3.25%
Clewiston, FL (FHA|USDA|VA) 1 $255,000 $255,000 $9,139 3.25%
CaƱon City, CO (FHA|USDA|VA) 1 $255,000 $255,000 $2,699 3.13%
Marietta, OH (FHA|USDA|VA) 1 $245,000 $245,000 $2,991 2.88%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $235,000 $235,000 $6,607 3.38%
Traverse City, MI (FHA|USDA|VA) 1 $225,000 $225,000 $2,527 2.88%
GAINESVILLE, GA (FHA|USDA|VA) 1 $225,000 $225,000 $3,313 2.63%
Findlay, OH (FHA|USDA|VA) 1 $215,000 $215,000 $3,322 2.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $215,000 $215,000 $2,331 2.63%
St. Marys, GA (FHA|USDA|VA) 2 $210,000 $105,000 $3,899 3.00%
NEW BERN, NC (FHA|USDA|VA) 1 $185,000 $185,000 $6,112 3.25%
Norwalk, OH (FHA|USDA|VA) 1 $185,000 $185,000 $9,793 3.38%
Van Wert, OH (FHA|USDA|VA) 1 $185,000 $185,000 $7,137 3.25%
Forest City, NC (FHA|USDA|VA) 1 $175,000 $175,000 $4,670 2.63%
Wapakoneta, OH (FHA|USDA|VA) 1 $175,000 $175,000 $2,839 3.00%
Sanford, NC (FHA|USDA|VA) 1 $155,000 $155,000 $5,266 2.88%
Greenville, OH (FHA|USDA|VA) 1 $155,000 $155,000 $5,446 3.13%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $155,000 $155,000 $2,822 2.88%
VALDOSTA, GA (FHA|USDA|VA) 1 $155,000 $155,000 $3,521 3.13%
Urbana, OH (FHA|USDA|VA) 1 $155,000 $155,000 $5,884 3.50%
WILMINGTON, NC (FHA|USDA|VA) 1 $145,000 $145,000 $3,456 3.13%
Celina, OH (FHA|USDA|VA) 1 $145,000 $145,000 $5,156 3.13%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $145,000 $145,000 $2,751 2.88%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $145,000 $145,000 $3,214 3.13%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $7,922 3.25%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $135,000 $135,000 $3,320 2.88%
BURLINGTON, NC (FHA|USDA|VA) 1 $135,000 $135,000 $1,902 2.75%
Douglas, GA (FHA|USDA|VA) 1 $135,000 $135,000 $4,943 3.25%
Bellefontaine, OH (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Adrian, MI (FHA|USDA|VA) 1 $125,000 $125,000 $4,533 2.75%
Vidalia, GA (FHA|USDA|VA) 1 $125,000 $125,000 $4,709 3.13%
BRUNSWICK, GA (FHA|USDA|VA) 1 $125,000 $125,000 $3,555 3.38%
Marion, NC (FHA|USDA|VA) 1 $125,000 $125,000 $5,402 2.75%
Tifton, GA (FHA|USDA|VA) 1 $125,000 $125,000 $5,871 3.25%
Lake City, FL (FHA|USDA|VA) 1 $125,000 $125,000 $7,137 3.88%
Wilson, NC (FHA|USDA|VA) 1 $125,000 $125,000 $6,732 2.75%
Bainbridge, GA (FHA|USDA|VA) 1 $125,000 $125,000 $4,845 2.63%
ANN ARBOR, MI (FHA|USDA|VA) 1 $125,000 $125,000 $2,463 2.63%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $115,000 $115,000 $6,489 3.38%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $115,000 $115,000 $5,489 3.25%
McMinnville, TN (FHA|USDA|VA) 1 $105,000 $105,000 $2,503 3.13%
Moultrie, GA (FHA|USDA|VA) 1 $95,000 $95,000 $3,631 3.13%
Sandusky, OH (FHA|USDA|VA) 1 $75,000 $75,000 $3,554 4.00%
Cambridge, OH (FHA|USDA|VA) 1 $75,000 $75,000 $4,850 3.25%
Marion, OH (FHA|USDA|VA) 1 $65,000 $65,000 $4,411 3.25%

Signature Mortgage Corporation's top markets include Canton, Akron, Cleveland, Columbus, and Naples among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,134 $235,240,000 $207,443 $3,529 2.96%
FHA 183 $29,165,000 $159,372 $6,519 3.12%
USDA 103 $17,755,000 $172,379 $5,661 3.11%
VA 22 $5,210,000 $236,818 $6,451 2.86%

For the 2021 period, Signature Mortgage Corporation's most frequently originated loan type of loans were Conventional, with 1,134 originations. Their 2nd most popular type is FHA, with 183 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 856 $171,330,000 $200,152 $4,646 3.07%
Refi 370 $71,660,000 $193,676 $3,113 2.78%
Cash Out Refi 216 $44,380,000 $205,463 $3,570 3.02%

For the 2021, Signature Mortgage Corporation's most frequently cited loan purpose of loans were Home Purchase, with 856 originations. The 2nd most popular reason of loans were Refi, with 370 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,182 $234,640,000 $198,511 $4,284 3.07%
15 Year 151 $29,725,000 $196,854 $3,161 2.49%
20 Year 75 $16,385,000 $218,467 $3,341 2.86%
Other 22 $4,180,000 $190,000 $2,913 2.93%
10 Year 12 $2,440,000 $203,333 $2,902 2.33%

For the 2021, Signature Mortgage Corporation's most frequently cited loan length of loans were 30 Year, with 1,182 originations. The 2nd most popular length of loans were 15 Year, with 151 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,278 $252,030,000 $197,207
$<1k 64 $16,540,000 $258,438
$2k-3k 27 $4,855,000 $179,815
$3k-4k 5 $1,515,000 $303,000
$5k+ 1 $215,000 $215,000

$4,284 of loans were Signature Mortgage Corporation's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,278 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 716 $144,020,000 $201,145
3-4% 506 $97,520,000 $192,727
<2.5% 134 $30,680,000 $228,955
4-5% 25 $3,035,000 $121,400

During 2021, Signature Mortgage Corporation's average interest rate of loans were 3.07%, while their most frequently originated rate bucket of loans were 2.5-3%, with 716 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 748 $111,860,000 $149,545 $3,969 3.00%
$200k-400k 468 $123,520,000 $263,932 $4,301 2.92%
$100,000 or less 143 $11,785,000 $82,413 $3,426 3.19%
$400k-600k 81 $38,545,000 $475,864 $4,802 2.91%
$600k-1MM 2 $1,660,000 $830,000 $7,365 3.31%

2021 saw Signature Mortgage Corporation place emphasis on $100k-200k loans with 748 originations, totaling $111,860,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 387 $68,205,000 $176,240 $4,306 3.01%
$50k or less 340 $44,660,000 $131,353 $4,202 3.06%
$75k-100k 259 $51,365,000 $198,320 $3,826 2.97%
$100k-150k 241 $56,195,000 $233,174 $3,867 2.92%
$150k-250k 171 $50,725,000 $296,637 $3,962 2.96%
$250k+ 44 $16,220,000 $368,636 $4,185 2.88%

Signature Mortgage Corporation lent most frequently to those with incomes in the $50k-75k range, with 387 originations. The second most popular income band? $50k or less, with 340 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 347 $71,545,000 $206,182 $3,727 2.93%
30-36% 305 $60,925,000 $199,754 $4,072 2.98%
<20% 130 $24,640,000 $189,538 $3,409 2.81%
36% 69 $13,105,000 $189,928 $3,617 3.08%
42% 58 $11,520,000 $198,621 $4,501 3.10%
37% 57 $11,385,000 $199,737 $4,045 3.03%
40% 55 $10,825,000 $196,818 $4,336 3.03%
41% 55 $12,905,000 $234,636 $4,745 3.07%
38% 53 $11,025,000 $208,019 $4,049 3.05%
39% 47 $8,775,000 $186,702 $4,312 3.15%
43% 44 $8,090,000 $183,864 $4,357 3.03%
44% 43 $8,195,000 $190,581 $3,919 3.04%
45% 41 $8,585,000 $209,390 $4,550 3.04%
46% 37 $7,435,000 $200,946 $4,982 2.91%
50-60% 37 $5,985,000 $161,757 $6,326 3.21%
47% 23 $4,635,000 $201,522 $5,251 3.03%
49% 16 $3,040,000 $190,000 $4,351 3.12%
48% 15 $2,315,000 $154,333 $4,416 2.97%
>60% 4 $1,030,000 $257,500 $4,531 2.94%

Signature Mortgage Corporation lent most frequently to those with DTI ratios of 20-30%, with 347 originations. The next most common DTI ratio? 30-36%, with 305 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,359 $270,085,000 $198,738 $4,044 2.98%
Black 44 $7,390,000 $167,955 $4,616 3.18%
Asian 23 $6,025,000 $261,957 $4,214 2.90%
Not provided 15 $3,535,000 $235,667 $4,993 2.90%
Native Hawaiian 1 $335,000 $335,000 $9,255 3.38%

Approval Rates

Total approvals of all applications
95.09%

Signature Mortgage Corporation has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
92.01%

Signature Mortgage Corporation has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,442 $287,370,000 $199,286

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,442 $287,370,000 $199,286

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 18 $2,180,000 $121,111 $3,018 2.53%
40-60% 124 $24,320,000 $196,129 $3,175 2.73%
60-80% 529 $107,915,000 $203,998 $3,402 2.97%
80-100% 753 $149,015,000 $197,895 $4,715 3.05%
Over 100% 17 $3,875,000 $227,941 $7,459 2.92%
Under 20% 1 $65,000 $65,000 $2,555 2.88%