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. They have a low ratio of USDA loans. Their top markets by origination volume include: Wichita, Coffeyville, and Topeka among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)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 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 | 13.56% | 12/16/24 |
| 30 Year Conventional Refi | 6.60% | 12/16/24 |
| 30 Year Cash-out Refi | 6.26% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 6.27% | 12/16/24 |
| 30 Year USDA Purchase | 6.73% | 12/16/24 |
| 15 Year Conventional Purchase | 6.19% | 12/16/24 |
| 15 Year Conventional Refi | 6.04% | 12/16/24 |
| 15 Year Cash-out Refi | 6.04% | 12/16/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
88Origination Dollar Volume (All Markets)
$12,920,000Awards
SKYWARD - 2019
SKYWARD is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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) | 74 | $11,740,000 | $158,649 | $1,861 | 3.91% |
| Outside of Metro Areas | 6 | $580,000 | $96,667 | $2,044 | 3.90% |
| Coffeyville, KS (FHA|USDA|VA) | 7 | $505,000 | $72,143 | $1,912 | 4.23% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,921 | 4.50% |
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: 90
Similarity Rank: 128
Similarity Rank: 148
Similarity Rank: 212
Similarity Rank: 275
Similarity Rank: 294
Similarity Rank: 304
Similarity Rank: 450
Similarity Rank: 480
Similarity Rank: 532
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 87 | $12,845,000 | $147,644 | $1,862 | 3.95% |
| USDA | 1 | $75,000 | $75,000 | $3,242 | 3.75% |
For 2019, Skyward's most frequently originated type of loan was Conventional, with 87 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2019, Skyward's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.
Loan Duration/Length
For 2019, Skyward's most frequently cited loan duration was 30 Year, with 44 originations. The 2nd most popular length was 15 Year, with 26 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 84 | $12,620,000 | $150,238 |
| $1k-2k | 4 | $300,000 | $75,000 |
Skyward's average total fees were $1,918, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 84 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 40 | $6,630,000 | $165,750 |
| 4-5% | 35 | $4,035,000 | $115,286 |
| 2.5-3% | 10 | $2,010,000 | $201,000 |
| 5-6% | 3 | $245,000 | $81,667 |
During 2019, Skyward's average interest rate for loans was 4.26%, while their most frequently originated rate bucket for loans was 3-4%, with 40 originations.
Loan Sizing
2019 saw Skyward place emphasis on $100k-200k loans with 42 originations, totaling $6,010,000 in origination value.
Applicant Income
Skyward lent most frequently to those with incomes in the $50k-75k range, with 24 originations. The second most popular income band? $75k-100k, with 22 originations.
Applicant Debt to Income Ratio
Skyward lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 30-36%, with 18 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.59%
Skyward has a below average approval rate.
Pick Rate
Approvals leading to origination68.18%
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 | 88 | $12,920,000 | $146,818 |