Skyward Mortgage Rates, Fees & Info
Wichita, KSLEI: 5493001J5Z6NXCZKQR68
Tax ID: 48-6107341
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Mortgage Data
Review & Overview
Skyward is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Skyward has a high proportion of conventional loans. Their top (well, only) market is Wichita.Skyward 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. Skyward 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 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 | 13.56% | 11/17/24 |
| 30 Year Conventional Refi | 6.60% | 11/17/24 |
| 30 Year Cash-out Refi | 6.26% | 11/17/24 |
| 30 Year FHA Purchase | 6.27% | 11/17/24 |
| 30 Year VA Purchase | 6.27% | 11/17/24 |
| 30 Year USDA Purchase | 6.73% | 11/17/24 |
| 15 Year Conventional Purchase | 6.19% | 11/17/24 |
| 15 Year Conventional Refi | 6.04% | 11/17/24 |
| 15 Year Cash-out Refi | 6.04% | 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. | ||
Skyward Mortgage Calculator
Your Estimates
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This is not an official calculator from Skyward. 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
19Origination Dollar Volume (All Markets)
$1,925,000Relative Rate
Skyward's average 30 year fixed mortgage rate was
7.13%.
The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.
This yields a difference of 0.65%.
Relative Fees (Closing Costs)
Skyward's average total fees/closing costs for a 30 year fixed rate
mortgage were $2,143.
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 |
|---|---|---|---|---|---|
| WICHITA, KS (FHA|USDA|VA) | 19 | $1,925,000 | $101,316 | $1,985 | 7.06% |
Similar Lenders
We use machine learning to identify the top lenders compared against SKYWARD based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 6
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Similarity Rank: 341
Similarity Rank: 361
Similarity Rank: 413
Similarity Rank: 494
Similarity Rank: 551
Similarity Rank: 768
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 19 | $1,925,000 | $101,316 | $1,985 | 7.06% |
For 2023, Skyward's most frequently originated type of loan was Conventional, with 19 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 7 | $1,065,000 | $152,143 | $2,789 | 6.57% |
| Refi | 6 | $250,000 | $41,667 | $1,773 | 7.41% |
| Cash Out Refi | 6 | $610,000 | $101,667 | $1,259 | 7.28% |
For 2023, Skyward's most frequently cited loan purpose was Home Purchase, with 7 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
For 2023, Skyward's most frequently cited loan duration was 20 Year, with 7 originations. The 2nd most popular length was 10 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 13 | $1,325,000 | $101,923 |
| $1k-2k | 3 | $305,000 | $101,667 |
| $2k-3k | 3 | $295,000 | $98,333 |
Skyward's average total fees were $2,143, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 8 | $1,150,000 | $143,750 |
| 7-8% | 4 | $250,000 | $62,500 |
| Over 8% | 4 | $140,000 | $35,000 |
| 5-6% | 3 | $385,000 | $128,333 |
During 2023, Skyward's average interest rate for loans was 7.13%, while their most frequently originated rate bucket for loans was 6-7%, with 8 originations.
Loan Sizing
2023 saw Skyward place emphasis on $100,000 or less loans with 11 originations, totaling $435,000 in origination value.
Applicant Income
Skyward lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $75k-100k, with 7 originations.
Applicant Debt to Income Ratio
Skyward lent most frequently to those with DTI ratios of 20-30%, with 7 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.94%
Skyward has an average approval rate.
Pick Rate
Approvals leading to origination-184.21%
Skyward has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 19 | $1,925,000 | $101,316 |