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 Refi loans. Signal Financial Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Salisbury, Tampa, and New York 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 a low 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 about average 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% | 4/28/24 |
| 30 Year Conventional Refi | 6.17% | 4/28/24 |
| 30 Year Cash-out Refi | 5.88% | 4/28/24 |
| 30 Year FHA Purchase | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.98% | 4/28/24 |
| 15 Year Conventional Refi | 5.68% | 4/28/24 |
| 15 Year Cash-out Refi | 5.68% | 4/28/24 |
| 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
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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
270Origination Dollar Volume (All Markets)
$67,300,000Top 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 222 | $54,600,000 | $245,946 | $3,973 | 2.91% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 20 | $5,600,000 | $280,000 | $3,787 | 2.95% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 5 | $895,000 | $179,000 | $4,332 | 2.73% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $5,462 | 2.88% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $5,358 | 3.00% |
| Outside of Metro Areas | 2 | $630,000 | $315,000 | $4,299 | 2.81% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $3,382 | 2.66% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $6,184 | 3.38% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $4,845 | 3.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $6,344 | 3.38% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,148 | 2.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $5,430 | 2.75% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,155 | 3.38% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,866 | 2.63% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,439 | 2.50% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,803 | 3.75% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,698 | 3.13% |
| Cambridge, MD (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,865 | 2.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 2.99% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 2.99% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 2.99% |
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 | 218 | $60,920,000 | $279,450 | $4,003 | 2.89% |
| HELOC | 52 | $6,380,000 | $122,692 | n/a | 2.99% |
For 2021, Signal Financial Federal Credit Union's most frequently originated type of loan was Conventional, with 218 originations. Their 2nd most popular type was HELOC, with 52 originations.
Loan Reason
For 2021, Signal Financial Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 137 originations. The 2nd most popular reason was Refi, with 91 originations.
Loan Duration/Length
For 2021, Signal Financial Federal Credit Union's most frequently cited loan duration was 30 Year, with 159 originations. The 2nd most popular length was 20 Year, with 63 originations.
Origination Fees/Closing Costs
Signal Financial Federal Credit Union's average total fees were $4,153, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 140 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 158 | $38,600,000 | $244,304 |
| 3-4% | 70 | $18,980,000 | $271,143 |
| <2.5% | 41 | $9,645,000 | $235,244 |
| 6-7% | 1 | $75,000 | $75,000 |
During 2021, Signal Financial Federal Credit Union's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 158 originations.
Loan Sizing
2021 saw Signal Financial Federal Credit Union place emphasis on $200k-400k loans with 105 originations, totaling $28,995,000 in origination value.
Applicant Income
Signal Financial Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 76 originations. The second most popular income band? $150k-250k, with 56 originations.
Applicant Debt to Income Ratio
Signal Financial Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 48 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.17%
Signal Financial Federal Credit Union has an average approval rate.
Pick Rate
Approvals leading to origination71.85%
Signal Financial Federal Credit Union has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 270 | $67,300,000 | $249,259 |