Signal Financial Federal Credit Union Mortgage Rates, Fees & Info
Kensington, MDLEI: 549300ZM3AIJAKZITQ95
Tax ID: 53-0186303
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.67% | 11/17/24 |
| 30 Year Conventional Refi | 6.17% | 11/17/24 |
| 30 Year Cash-out Refi | 5.88% | 11/17/24 |
| 30 Year FHA Purchase | 6.27% | 11/17/24 |
| 15 Year Conventional Purchase | 5.98% | 11/17/24 |
| 15 Year Conventional Refi | 5.68% | 11/17/24 |
| 15 Year Cash-out Refi | 5.68% | 11/17/24 |
| 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
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This is not an official calculator from Signal Financial 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
107Origination Dollar Volume (All Markets)
$19,625,000Awards
Signal Financial Federal Credit Union - 2023
Signal Financial Federal Credit Union is a 2023 , due to their low .
For 2023, less than of lenders were eligible for this award.
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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% |
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.
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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
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
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
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
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
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
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
Approval Rates
Total approvals of all applications87.20%
Signal Financial Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination74.77%
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 |