Benchmark Federal Credit Union Mortgage Rates, Fees & Info
West Chester, PALEI: 549300DO51DW0RG07O39
Tax ID: 23-6257323
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Mortgage Data
Review & Overview
Benchmark Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Benchmark Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, New York, Boston, North Port, and Lancaster among others. We have data for 19 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.
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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
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This is not an official calculator from Benchmark Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
78Origination Dollar Volume (All Markets)
$27,820,000Top 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) | 51 | $17,485,000 | $342,843 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 6 | $3,730,000 | $621,667 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $1,560,000 | $780,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $690,000 | $345,000 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Rutland, VT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $155,000 | $155,000 | $0 | 0.00% |
| READING, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 78 | $27,820,000 | $356,667 | $0 | 0.00% |
For 2021, Benchmark Federal Credit Union's most frequently originated type of loan was Conventional, with 78 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 35 | $11,825,000 | $337,857 | $0 | 0.00% |
| Home Purchase | 30 | $11,630,000 | $387,667 | $0 | 0.00% |
| Refi | 13 | $4,365,000 | $335,769 | $0 | 0.00% |
For 2021, Benchmark Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 35 originations. The 2nd most popular reason was Home Purchase, with 30 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 78 | $27,820,000 | $356,667 | $0 | 0.00% |
For 2021, Benchmark Federal Credit Union's most frequently cited loan duration was Other, with 78 originations.
Loan Sizing
2021 saw Benchmark Federal Credit Union place emphasis on $200k-400k loans with 36 originations, totaling $10,650,000 in origination value.
Applicant Income
Benchmark Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 28 originations. The second most popular income band? $100k-150k, with 18 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 78 | $27,820,000 | $356,667 | $0 | 0.00% |
Benchmark Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 78 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.39%
Benchmark Federal Credit Union 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-17.95%
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 | 78 | $27,820,000 | $356,667 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BOEING EMPLOYEES CREDIT UNION | Other type of mortgage | Trouble during payment process | 2 | 20.0% |
| BOEING EMPLOYEES CREDIT UNION | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 10.0% |
| BOEING EMPLOYEES CREDIT UNION | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 10.0% |
| BOEING EMPLOYEES CREDIT UNION | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 10.0% |
| BOEING EMPLOYEES CREDIT UNION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 10.0% |
| BOEING EMPLOYEES CREDIT UNION | Conventional home mortgage | Trouble during payment process | 3 | 30.0% |
| BOEING EMPLOYEES CREDIT UNION | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 10.0% |