Ark-La-Tex Financial Services, LLC—better known as Benchmark Mortgage—is a privately held residential mortgage lender headquartered in Plano, Texas. Founded in 1999, the company operates in 48 states through a large branch network and provides both loan origination and servicing. While its national footprint suggests broad accessibility, Benchmark’s mortgage rates trend above average, which could mean higher long-term costs for borrowers.
See today’s mortgage interest rates on TrueRate.
How Benchmark Mortgage compares to other lenders
| Headquarters | Plano, TX |
| Website | benchmark.us |
| Rate | 0.08% higher than the median rate |
| Lender fees | $1,165 (median) |
| Savings after 1 year, compared to the median interest rate | $127 |
| Added cost after 10 years, compared to the median interest rate | $2,078 |
| Added cost after 1 year (vs. Tomo Mortgage) | $2,451 |
| Added cost after 10 years (vs. Tomo Mortgage) | $13,263 |
For a $400,000 mortgage, Benchmark Mortgage’s rates—roughly 0.08% above the market average—and a $1,165 lender fee result in some quick savings of just over $125 in the first year but the higher rate and fees add up for an additional cost of around $2,075 over 10 years compared to the median lender.
What customers are saying
Benchmark Mortgage is praised for excellent communication, supportive staff, and fast closings, with many borrowers describing proactive updates and a personal touch throughout the process.
However, reviews on the BBB and other platforms reveal recurring problems with post-closing and assumption service, including poor communication, slow issue resolution, and inflexible payment policies. Disorganization and website usability are also cited as pain points.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.