Signal Financial Federal Credit Union Mortgage Rates, Fees & Info

Kensington, MD

LEI: 549300ZM3AIJAKZITQ95

Tax ID: 53-0186303

5 stars - Updated: 3/28/24 - out of 5 stars, based on 10 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Signal Financial Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Signal Financial Federal Credit Union has a high proportion of conventional loans. Signal Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, New York, Richmond, and Salisbury among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

Signal Financial Federal Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Signal Financial Federal Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

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 5.67% 3/28/24
30 Year Conventional Refi 6.17% 3/28/24
30 Year Cash-out Refi 5.88% 3/28/24
30 Year FHA Purchase 6.27% 3/28/24
15 Year Conventional Purchase 5.98% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 3/28/24
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.

Signal Financial 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 Signal Financial 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

107

Origination Dollar Volume (All Markets)

$19,625,000

Awards

Signal Financial Federal Credit Union 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Signal Financial Federal Credit Union's average 30 year fixed mortgage rate was 6.79%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of 0.31%.

Relative Fees (Closing Costs)

Signal Financial Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $4,720.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top 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
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 78 $12,970,000 $166,282 $3,566 7.37%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 6 $950,000 $158,333 $5,574 7.25%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $710,000 $355,000 $11,034 7.13%
RICHMOND, VA (FHA|USDA|VA) 2 $710,000 $355,000 $6,126 6.68%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $630,000 $315,000 $0 0.00%
Outside of Metro Areas 2 $630,000 $315,000 $3,608 8.18%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $445,000 $445,000 $3,704 6.75%
WILMINGTON, NC (FHA|USDA|VA) 1 $445,000 $445,000 $5,065 7.25%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $375,000 $375,000 $4,586 7.00%
SANTA FE, NM (FHA|USDA|VA) 1 $365,000 $365,000 $5,293 6.88%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $275,000 $275,000 $3,866 6.50%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Sunbury, PA (FHA|USDA|VA) 1 $175,000 $175,000 $3,907 6.75%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
PITTSBURGH, PA (FHA|USDA|VA) 1 $145,000 $145,000 $5,609 7.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $95,000 $95,000 $3,814 4.50%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
GOLDSBORO, NC (FHA|USDA|VA) 1 $55,000 $55,000 $1,352 9.49%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $25,000 $25,000 $1,362 7.49%
Signal Financial Federal Credit Union's top markets include Washington, Baltimore, New York, Richmond, and Salisbury among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Signal Financial Federal Credit Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 117
    POINT BREEZE
    Similarity Rank: 160
    IDB Global Federal Credit Union
    Similarity Rank: 416
    Member Options, LLC
    Similarity Rank: 576
    EagleBank
    Similarity Rank: 1131
    CNB Bank Inc.
    Similarity Rank: 1152

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 59 $12,555,000 $212,797 $3,825 7.30%
    Conventional 48 $7,070,000 $147,292 $0 0.00%

    For 2023, Signal Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 59 originations. Their 2nd most popular type was Conventional, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 59 $10,175,000 $172,458 $3,523 8.00%
    Home Purchase 34 $8,220,000 $241,765 $4,400 6.78%
    Home Improvement 13 $1,135,000 $87,308 $1,181 8.74%
    Refi 1 $95,000 $95,000 $3,814 4.50%

    For 2023, Signal Financial Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 59 originations. The 2nd most popular reason was Home Purchase, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 49 $7,095,000 $144,796 $1,362 7.49%
    30 Year 43 $11,275,000 $262,209 $4,720 6.79%
    20 Year 11 $1,015,000 $92,273 $1,375 9.49%
    15 Year 2 $140,000 $70,000 $2,335 6.75%
    10 Year 1 $75,000 $75,000 $1,205 6.24%
    5 Year 1 $25,000 $25,000 $1,236 6.99%

    For 2023, Signal Financial Federal Credit Union's most frequently cited loan duration was Other, with 49 originations. The 2nd most popular length was 30 Year, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 24 $3,630,000 $151,250
    $<1k 15 $1,185,000 $79,000
    $2k-3k 12 $5,210,000 $434,167
    $5k+ 6 $2,230,000 $371,667
    $4k-5k 1 $145,000 $145,000

    Signal Financial Federal Credit Union's average total fees were $4,720, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 24 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 37 $8,425,000 $227,703
    Over 8% 12 $1,060,000 $88,333
    7-8% 6 $2,010,000 $335,000
    5-6% 3 $965,000 $321,667
    4-5% 1 $95,000 $95,000

    During 2023, Signal Financial Federal Credit Union's average interest rate for loans was 6.79%, while their most frequently originated rate bucket for loans was 6-7%, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 38 $5,340,000 $140,526 $2,980 7.24%
    $100,000 or less 36 $2,180,000 $60,556 $1,911 7.95%
    $200k-400k 21 $5,825,000 $277,381 $5,224 6.86%
    $400k-600k 11 $5,555,000 $505,000 $6,840 6.80%
    $600k-1MM 1 $725,000 $725,000 $4,895 6.99%

    2023 saw Signal Financial Federal Credit Union place emphasis on $100k-200k loans with 38 originations, totaling $5,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 32 $7,040,000 $220,000 $4,399 7.20%
    $100k-150k 28 $4,330,000 $154,643 $3,624 7.39%
    $250k+ 17 $3,805,000 $223,824 $5,803 6.62%
    $50k-75k 14 $2,040,000 $145,714 $3,728 7.41%
    $75k-100k 13 $1,805,000 $138,846 $2,878 7.21%
    $50k or less 2 $100,000 $50,000 $2,363 8.18%

    Signal Financial Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 32 originations. The second most popular income band? $100k-150k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 48 $7,070,000 $147,292 $0 0.00%
    20-30% 12 $1,900,000 $158,333 $3,323 7.69%
    30-36% 8 $1,800,000 $225,000 $4,181 6.95%
    39% 5 $885,000 $177,000 $2,845 7.92%
    47% 5 $1,485,000 $297,000 $5,628 6.68%
    45% 5 $1,565,000 $313,000 $6,207 6.70%
    <20% 4 $860,000 $215,000 $3,229 6.56%
    48% 4 $1,220,000 $305,000 $5,463 7.06%
    37% 3 $435,000 $145,000 $2,840 7.75%
    42% 2 $320,000 $160,000 $2,078 8.18%
    38% 2 $50,000 $25,000 $1,299 7.24%
    46% 2 $470,000 $235,000 $4,200 5.75%
    40% 2 $210,000 $105,000 $1,137 8.24%
    41% 2 $890,000 $445,000 $3,083 8.24%
    36% 1 $255,000 $255,000 $4,846 6.75%
    49% 1 $135,000 $135,000 $2,853 6.88%
    44% 1 $75,000 $75,000 $1,689 9.49%

    Signal Financial Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 48 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 47 $9,125,000 $194,149 $3,684 7.25%
    Black 38 $5,870,000 $154,474 $4,254 7.32%
    Not provided 17 $2,825,000 $166,176 $3,277 7.51%
    Asian 3 $855,000 $285,000 $3,405 7.12%
    Asian Indian 1 $505,000 $505,000 $0 0.00%
    American Indian 1 $445,000 $445,000 $3,704 6.75%

    Approval Rates

    Total approvals of all applications
    87.20%

    Signal Financial Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.77%

    Signal Financial Federal Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 48 $7,070,000 $147,292
    NA 59 $12,555,000 $212,797

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    107 $19,625,000 $183,411

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $1,140,000 $190,000 $3,742 7.83%
    40-60% 6 $1,620,000 $270,000 $3,318 7.16%
    60-80% 16 $4,230,000 $264,375 $5,351 6.80%
    80-100% 20 $4,970,000 $248,500 $4,270 6.79%
    Under 20% 11 $595,000 $54,091 $1,255 8.74%