Benchmark Mortgage Interest Rate and Cost Review

Is Benchmark a cheap or expensive mortgage lender? To help you shop for a mortgage, we compare the interest rates and closing costs charged by Benchmark to those of other lenders for a comparable set of borrowers. We maintain our independence by not accepting any money from the mortgage lenders we review. Going by historical data, here is our review of Benchmark nationally:

Review ItemBenchmark
Interest Ratesimilar to other lenders (+0.03%)
Loan Related Closing Costssimilar to other lenders (-$161)

On average, Benchmark’s interest rates were similar to those of other lenders (+0.03%) for a comparable set of borrowers. Its loan related closing costs were also similar to those of other lenders, with a difference of -$161. To visit Benchmark, its website is located at: https://benchmark.us.

Benchmark’s Rate Review by City

Mortgage lenders often set different rates in different geographical markets. In particular, among the cities we track Benchmark was most active in:

  1. Houston, TX
  2. Los Angeles, CA
  3. Austin, TX
  4. Lexington-Fayette, KY
  5. Dallas, TX

In addition, Benchmark is our top ranked/best mortgage lender in terms of interest rate and closing costs in:

  1. Prudenville, MI, for Jumbo mortgages
  2. Hobbs, NM, for Jumbo mortgages

You can click through to check out Benchmark’s mortgage rate relative to those of other lenders within each city. Or, for our entire list of the top mortgage lenders by city, click here.

Benchmark’s Rate Review by Mortgage Type

Mortgage lenders also tend to charge different interest rates and closing costs depending on the type of mortgage. In our data, Benchmark originated Conforming, FHA, Jumbo, USDA and VA mortgages for new home purchases and refinances. Its average interest rate and total loan related closing cost difference relative to other lenders by mortgages type is as follows.

Purchase/Refinance:
New Purchase MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.04%+0.04%+0.03%+0.05%+0.05%
Loan Related Closing Cost Difference-$111-$511+$101-$153-$50
Cost Adjusted Rate Difference+0.03%-0.00%+0.03%+0.03%+0.04%
National Star Rating(3.5)(3.5)(3.5)(3.5)(3.5)
Refinance MortgagesConformingFHAJumboUSDAVA
Interest Rate Difference+0.01%-0.01%+0.03%+0.00%-0.03%
Loan Related Closing Cost Difference+$33-$113+$63+$28-$39
Cost Adjusted Rate Difference+0.02%-0.02%+0.03%+0.01%-0.03%
Average Star Rating(3.5)(3.5)(3.5)(3.5)(3.5)

As a summary, Benchmark is similar to other lenders for Conforming, FHA, Jumbo, USDA and VA purchase mortgages. For refinancing, Benchmark is similar to other lenders for Conforming, FHA, Jumbo, USDA and VA mortgage refinance. Nevertheless, individual circumstances can matter a lot for mortgage rates, and we always recommend shopping among several of our top mortgage lenders in your area before signing.

Other information about Benchmark:

Registered name: Ark-La-Tex Financial Services
Registered city and state: PLANO, TX, 75024
Regulator: United States Department of Housing and Urban Development (HUD)

* Source of the data is Federal Financial Institutions Examination Council (FFIEC) and is for mortgages originated in the past year. Our comparable mortgages analysis controls for Benchmark’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and commuting zone. Cost adjusted rates were computed based on each percent of the loan amount in above average loan related closing costs being worth +0.15 of a percentage point in interest rate. Furthermore, the amounts are regularized using a Bayesian approach to control for small samples.