Benchmark Federal Credit Union Mortgage Rates, Fees & Info
West Chester, PALEI: 549300DO51DW0RG07O39
Tax ID: 23-6257323
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Benchmark Federal Credit Union is a smaller credit union specializing in Cash Out Refi, Refi, and Home Purchase loans. Benchmark Federal Credit Union has a high proportion of conventional loans. Benchmark Federal Credit Union has a low ratio of conventional loans. Their top markets by origination volume include: Philadelphia, New York, Miami, Trenton, and Ocean City among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)Benchmark Federal Credit Union has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.31% | 12/16/24 |
| 30 Year Conventional Refi | 5.80% | 12/16/24 |
| 30 Year Cash-out Refi | 5.56% | 12/16/24 |
| 15 Year Conventional Purchase | 4.62% | 12/16/24 |
| 15 Year Conventional Refi | 4.73% | 12/16/24 |
| 15 Year Cash-out Refi | 4.73% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Benchmark Federal Credit Union Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Benchmark Federal Credit Union. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
144Origination Dollar Volume (All Markets)
$43,400,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 102 | $27,980,000 | $274,314 | $0 | 2.74% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $2,340,000 | $585,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $1,960,000 | $980,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $1,600,000 | $800,000 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 2 | $1,310,000 | $655,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $1,065,000 | $1,065,000 | $0 | 0.00% |
| READING, PA (FHA|USDA|VA) | 5 | $795,000 | $159,000 | $0 | 4.80% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $0 | 0.00% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $340,000 | $56,667 | $0 | 4.96% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 0.00% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| DOVER, DE (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.55% |
Similar Lenders
We use machine learning to identify the top lenders compared against BENCHMARK Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 589
Similarity Rank: 625
Similarity Rank: 640
Similarity Rank: 1258
Similarity Rank: 1340
Similarity Rank: 1585
Similarity Rank: 1932
Similarity Rank: 1950
Similarity Rank: 1971
Similarity Rank: 1978
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 109 | $41,765,000 | $383,165 | $0 | 0.00% |
| Conventional | 35 | $1,635,000 | $46,714 | $0 | 3.23% |
For 2020, Benchmark Federal Credit Union's most frequently originated type of loan was Conventional, with 109 originations. Their 2nd most popular type was Conventional, with 35 originations.
Loan Reason
For 2020, Benchmark Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 51 originations. The 2nd most popular reason was Refi, with 41 originations.
Loan Duration/Length
For 2020, Benchmark Federal Credit Union's most frequently cited loan duration was Other, with 111 originations. The 2nd most popular length was 10 Year, with 15 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 14 | $690,000 | $49,286 |
| 5-6% | 7 | $375,000 | $53,571 |
| 4-5% | 6 | $160,000 | $26,667 |
| 6-7% | 6 | $260,000 | $43,333 |
| 3-4% | 2 | $150,000 | $75,000 |
During 2020, Benchmark Federal Credit Union's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was <2.5%, with 14 originations.
Loan Sizing
2020 saw Benchmark Federal Credit Union place emphasis on $200k-400k loans with 47 originations, totaling $13,665,000 in origination value.
Applicant Income
Benchmark Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 42 originations. The second most popular income band? $100k-150k, with 31 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 109 | $41,765,000 | $383,165 | $0 | 0.00% |
Benchmark Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 109 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.15%
Benchmark Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination29.86%
Benchmark Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 109 | $41,765,000 | $383,165 |
| NA | 35 | $1,635,000 | $46,714 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 144 | $43,400,000 | $301,389 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 6 | $480,000 | $80,000 | $0 | 2.88% |
| 40-60% | 1 | $115,000 | $115,000 | $0 | 3.90% |
| Under 20% | 28 | $1,040,000 | $37,143 | $0 | 3.29% |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BOEING EMPLOYEES CREDIT UNION | Conventional home mortgage | Struggling to pay mortgage | 1 | 14.3% |
| BOEING EMPLOYEES CREDIT UNION | Conventional home mortgage | Trouble during payment process | 5 | 71.4% |
| BOEING EMPLOYEES CREDIT UNION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 14.3% |