Southwest Funding Lp Mortgage Rates, Fees & Info

DALLAS, TX

LEI: 5493006P5IHSK77SZ855

Tax ID: 75-2674544

1 stars - out of 5 stars, based on 52 reviews

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Southwest Funding Lp is a smaller mortgage company specializing in Home Purchase loans. Southwest Funding Lp has a high proportion of conventional loans. They have a a high proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Dallas, San Antonio, Clarksville, Houston, and Memphis among others. We have data for 207 markets. (Some data included below & more in-depth data is available with an active subscription.)

Southwest Funding Lp has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Southwest Funding Lp is typically a high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.26% 6/7/23
30 Year Conventional Refi 6.69% 6/7/23
30 Year Cash-out Refi 6.93% 6/7/23
30 Year FHA Purchase 7.90% 6/7/23
30 Year FHA Refi 7.75% 6/7/23
30 Year VA Purchase 6.77% 6/7/23
30 Year VA Refi 6.28% 6/7/23
30 Year USDA Purchase 7.22% 6/7/23
30 Year USDA Refi 6.27% 6/7/23
15 Year Conventional Purchase 6.25% 6/7/23
15 Year Conventional Refi 6.16% 6/7/23
15 Year Cash-out Refi 6.16% 6/7/23
15 Year VA Purchase 6.86% 6/7/23
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.

Southwest Funding Lp Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Southwest Funding Lp. 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

2,735

Origination Dollar Volume (All Markets)

$709,645,000

Awards

SOUTHWEST FUNDING LP FHA Loans gold SOUTHWEST FUNDING LP FHA Loans gold
Show all (2) awards

Relative Rate

Southwest Funding Lp's average 30 year fixed mortgage rate was 5.3%.

The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.

This yields a difference of 0.54%.

Relative Fees (Closing Costs)

Southwest Funding Lp's average total fees/closing costs for a 30 year fixed rate mortgage were $11,283.

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 $4,750.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 437 $132,705,000 $303,673 $13,517 5.30%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 183 $56,935,000 $311,120 $11,897 5.12%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 127 $34,845,000 $274,370 $12,906 5.26%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 121 $32,985,000 $272,603 $13,582 5.44%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 122 $31,260,000 $256,230 $12,330 5.26%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 123 $27,845,000 $226,382 $11,478 5.27%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 66 $26,500,000 $401,515 $9,907 5.17%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 75 $25,845,000 $344,600 $14,688 5.52%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 76 $19,970,000 $262,763 $9,690 5.34%
TUSCALOOSA, AL (FHA|USDA|VA) 84 $18,300,000 $217,857 $8,928 5.25%
Outside of Metro Areas 80 $17,470,000 $218,375 $11,447 5.22%
LONGVIEW, TX (FHA|USDA|VA) 82 $17,290,000 $210,854 $10,205 5.45%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 53 $15,775,000 $297,642 $7,375 5.65%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 40 $14,110,000 $352,750 $12,901 5.21%
LOUISVILLE, KY (FHA|USDA|VA) 48 $11,490,000 $239,375 $8,535 4.86%
BATON ROUGE, LA (FHA|USDA|VA) 55 $10,965,000 $199,364 $10,105 5.57%
LAFAYETTE, LA (FHA|USDA|VA) 45 $9,285,000 $206,333 $10,225 5.34%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 38 $8,080,000 $212,632 $9,897 5.46%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 21 $8,045,000 $383,095 $10,027 4.78%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 29 $6,355,000 $219,138 $8,815 5.35%
Hobbs, NM (FHA|USDA|VA) 29 $6,105,000 $210,517 $8,979 5.06%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 32 $5,970,000 $186,563 $10,133 5.18%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 26 $5,470,000 $210,385 $9,737 5.45%
Mount Pleasant, TX (FHA|USDA|VA) 26 $5,250,000 $201,923 $10,170 5.29%
HUNTSVILLE, AL (FHA|USDA|VA) 17 $4,925,000 $289,706 $11,258 4.87%
Bay City, TX (FHA|USDA|VA) 24 $4,880,000 $203,333 $12,501 5.42%
EL PASO, TX (FHA|USDA|VA) 23 $4,715,000 $205,000 $9,557 5.36%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 24 $4,680,000 $195,000 $6,659 5.03%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 12 $4,600,000 $383,333 $14,476 4.68%
COLORADO SPRINGS, CO (FHA|USDA|VA) 13 $4,465,000 $343,462 $9,714 4.56%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 23 $4,405,000 $191,522 $12,154 5.13%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 17 $4,125,000 $242,647 $11,157 5.07%
KNOXVILLE, TN (FHA|USDA|VA) 17 $3,585,000 $210,882 $9,449 5.48%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 17 $3,525,000 $207,353 $8,391 4.86%
LAREDO, TX (FHA|USDA|VA) 12 $3,390,000 $282,500 $10,744 4.26%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 15 $3,335,000 $222,333 $9,041 5.21%
COLUMBIA, SC (FHA|USDA|VA) 15 $3,105,000 $207,000 $9,880 5.33%
Talladega-Sylacauga, AL (FHA|USDA|VA) 15 $3,005,000 $200,333 $8,847 5.02%
MOBILE, AL (FHA|USDA|VA) 13 $2,975,000 $228,846 $8,726 5.03%
PITTSBURGH, PA (FHA|USDA|VA) 11 $2,965,000 $269,545 $17,591 3.59%
Athens, TX (FHA|USDA|VA) 8 $2,460,000 $307,500 $12,015 5.76%
Tullahoma-Manchester, TN (FHA|USDA|VA) 7 $2,415,000 $345,000 $9,163 5.46%
SPARTANBURG, SC (FHA|USDA|VA) 11 $2,415,000 $219,545 $8,734 5.34%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 10 $2,170,000 $217,000 $8,566 5.04%
El Campo, TX (FHA|USDA|VA) 9 $2,135,000 $237,222 $10,597 5.12%
GREELEY, CO (FHA|USDA|VA) 7 $2,095,000 $299,286 $9,641 4.09%
Carlsbad-Artesia, NM (FHA|USDA|VA) 8 $2,080,000 $260,000 $9,041 5.33%
TYLER, TX (FHA|USDA|VA) 9 $2,055,000 $228,333 $13,557 5.19%
TULSA, OK (FHA|USDA|VA) 11 $1,995,000 $181,364 $6,963 5.49%
HAMMOND, LA (FHA|USDA|VA) 12 $1,960,000 $163,333 $7,995 4.86%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 12 $1,930,000 $160,833 $7,965 5.25%
Muscatine, IA (FHA|USDA|VA) 15 $1,885,000 $125,667 $6,942 5.41%
MONROE, LA (FHA|USDA|VA) 7 $1,845,000 $263,571 $9,151 5.05%
CORPUS CHRISTI, TX (FHA|USDA|VA) 7 $1,805,000 $257,857 $12,256 4.96%
DOTHAN, AL (FHA|USDA|VA) 8 $1,780,000 $222,500 $10,255 5.20%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 7 $1,645,000 $235,000 $8,952 5.80%
JACKSON, MS (FHA|USDA|VA) 6 $1,540,000 $256,667 $10,613 5.96%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,465,000 $293,000 $12,303 3.65%
ALBUQUERQUE, NM (FHA|USDA|VA) 4 $1,460,000 $365,000 $9,058 5.03%
Palestine, TX (FHA|USDA|VA) 9 $1,455,000 $161,667 $10,781 5.88%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 5 $1,445,000 $289,000 $9,913 4.73%
Opelousas, LA (FHA|USDA|VA) 6 $1,440,000 $240,000 $10,887 5.17%
MONTGOMERY, AL (FHA|USDA|VA) 6 $1,330,000 $221,667 $9,315 6.17%
SHERMAN-DENISON, TX (FHA|USDA|VA) 6 $1,300,000 $216,667 $12,181 5.48%
DAYTON-KETTERING, OH (FHA|USDA|VA) 8 $1,270,000 $158,750 $7,199 6.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,225,000 $408,333 $16,399 5.17%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 5 $1,035,000 $207,000 $8,297 5.50%
PUEBLO, CO (FHA|USDA|VA) 3 $995,000 $331,667 $7,881 5.21%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $940,000 $470,000 $29,998 4.88%
SAGINAW, MI (FHA|USDA|VA) 6 $920,000 $153,333 $10,752 5.79%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $910,000 $227,500 $8,708 4.53%
Mineral Wells, TX (FHA|USDA|VA) 5 $895,000 $179,000 $12,040 5.60%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 3 $865,000 $288,333 $12,972 4.46%
Richmond-Berea, KY (FHA|USDA|VA) 3 $855,000 $285,000 $12,137 5.88%
GADSDEN, AL (FHA|USDA|VA) 5 $825,000 $165,000 $7,649 4.35%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $815,000 $271,667 $11,549 5.04%
Brownwood, TX (FHA|USDA|VA) 3 $815,000 $271,667 $14,743 5.96%
Minden, LA (FHA|USDA|VA) 5 $815,000 $163,000 $6,791 4.88%
Dayton, TN (FHA|USDA|VA) 4 $800,000 $200,000 $10,811 5.13%
FORT COLLINS, CO (FHA|USDA|VA) 2 $800,000 $400,000 $10,018 4.31%
Adrian, MI (FHA|USDA|VA) 4 $780,000 $195,000 $16,188 5.90%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 2 $780,000 $390,000 $15,067 4.44%
Okeechobee, FL (FHA|USDA|VA) 2 $740,000 $370,000 $12,352 5.56%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $735,000 $245,000 $10,261 3.96%
Seneca, SC (FHA|USDA|VA) 4 $730,000 $182,500 $9,071 6.75%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $705,000 $235,000 $9,025 4.75%
SALEM, OR (FHA|USDA|VA) 2 $680,000 $340,000 $13,013 6.75%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $680,000 $340,000 $9,024 4.63%
Paris, TN (FHA|USDA|VA) 3 $625,000 $208,333 $10,167 6.25%
FORT WAYNE, IN (FHA|USDA|VA) 3 $625,000 $208,333 $6,849 6.04%
Del Rio, TX (FHA|USDA|VA) 3 $615,000 $205,000 $11,762 6.88%
Enterprise, AL (FHA|USDA|VA) 3 $615,000 $205,000 $6,373 5.33%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 4 $610,000 $152,500 $9,231 5.56%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 3 $585,000 $195,000 $7,380 5.21%
Morgan City, LA (FHA|USDA|VA) 6 $580,000 $96,667 $8,669 5.42%
Sulphur Springs, TX (FHA|USDA|VA) 2 $540,000 $270,000 $12,819 4.06%
Granbury, TX (FHA|USDA|VA) 2 $540,000 $270,000 $12,941 6.50%
SUMTER, SC (FHA|USDA|VA) 3 $525,000 $175,000 $8,597 4.08%
ODESSA, TX (FHA|USDA|VA) 2 $520,000 $260,000 $9,537 3.69%
KOKOMO, IN (FHA|USDA|VA) 2 $510,000 $255,000 $11,393 5.50%
MANHATTAN, KS (FHA|USDA|VA) 2 $490,000 $245,000 $8,235 5.56%
Paris, TX (FHA|USDA|VA) 3 $485,000 $161,667 $8,508 5.42%
PANAMA CITY, FL (FHA|USDA|VA) 1 $485,000 $485,000 $19,074 5.63%
Ruston, LA (FHA|USDA|VA) 2 $480,000 $240,000 $11,061 4.50%
WACO, TX (FHA|USDA|VA) 2 $470,000 $235,000 $13,867 6.25%
Corsicana, TX (FHA|USDA|VA) 2 $470,000 $235,000 $14,702 6.81%
Cookeville, TN (FHA|USDA|VA) 1 $465,000 $465,000 $10,152 7.13%
MIDLAND, TX (FHA|USDA|VA) 2 $460,000 $230,000 $10,506 5.06%
Greenwood, SC (FHA|USDA|VA) 2 $440,000 $220,000 $10,762 3.88%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $425,000 $425,000 $8,002 4.50%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $420,000 $210,000 $11,945 5.50%
Athens, TN (FHA|USDA|VA) 2 $400,000 $200,000 $7,426 6.25%
Stephenville, TX (FHA|USDA|VA) 2 $400,000 $200,000 $7,570 4.68%
CHEYENNE, WY (FHA|USDA|VA) 2 $400,000 $200,000 $6,626 5.50%
Russellville, AR (FHA|USDA|VA) 1 $395,000 $395,000 $9,273 7.25%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $385,000 $385,000 $23,407 2.88%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $385,000 $385,000 $13,763 4.75%
Fort Morgan, CO (FHA|USDA|VA) 1 $385,000 $385,000 $6,979 5.88%
JACKSON, TN (FHA|USDA|VA) 2 $380,000 $190,000 $11,206 4.69%
Coos Bay, OR (FHA|USDA|VA) 1 $375,000 $375,000 $19,096 6.88%
LUBBOCK, TX (FHA|USDA|VA) 3 $365,000 $121,667 $7,916 5.12%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $365,000 $365,000 $18,495 3.75%
Española, NM (FHA|USDA|VA) 1 $355,000 $355,000 $24,746 6.75%
Greensburg, IN (FHA|USDA|VA) 2 $350,000 $175,000 $8,692 5.00%
Gaffney, SC (FHA|USDA|VA) 2 $350,000 $175,000 $6,521 3.81%
Union, SC (FHA|USDA|VA) 2 $340,000 $170,000 $7,312 6.19%
ANN ARBOR, MI (FHA|USDA|VA) 1 $335,000 $335,000 $14,253 5.25%
COLUMBUS, IN (FHA|USDA|VA) 1 $335,000 $335,000 $7,613 7.00%
Georgetown, SC (FHA|USDA|VA) 2 $330,000 $165,000 $8,219 6.19%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $320,000 $160,000 $10,682 5.56%
Frankfort, KY (FHA|USDA|VA) 1 $315,000 $315,000 $14,227 5.00%
Portsmouth, OH (FHA|USDA|VA) 2 $310,000 $155,000 $9,212 6.25%
Fort Polk South, LA (FHA|USDA|VA) 1 $305,000 $305,000 $7,166 5.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $305,000 $305,000 $15,319 5.50%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $305,000 $305,000 $14,221 5.13%
OWENSBORO, KY (FHA|USDA|VA) 2 $300,000 $150,000 $7,523 6.94%
HATTIESBURG, MS (FHA|USDA|VA) 1 $295,000 $295,000 $13,605 4.88%
Stillwater, OK (FHA|USDA|VA) 1 $295,000 $295,000 $11,175 6.50%
DECATUR, AL (FHA|USDA|VA) 1 $295,000 $295,000 $12,623 3.38%
Mount Sterling, KY (FHA|USDA|VA) 2 $290,000 $145,000 $6,336 7.31%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $285,000 $285,000 $5,010 5.13%
Cañon City, CO (FHA|USDA|VA) 1 $285,000 $285,000 $11,070 5.00%
Paducah, KY-IL (FHA|USDA|VA) 1 $275,000 $275,000 $13,508 5.63%
Mayfield, KY (FHA|USDA|VA) 1 $275,000 $275,000 $8,008 4.75%
Pearsall, TX (FHA|USDA|VA) 1 $265,000 $265,000 $5,491 3.38%
Eagle Pass, TX (FHA|USDA|VA) 1 $265,000 $265,000 $7,664 6.50%
Columbus, MS (FHA|USDA|VA) 1 $265,000 $265,000 $16,059 6.88%
Lufkin, TX (FHA|USDA|VA) 1 $265,000 $265,000 $11,144 3.63%
Jacksonville, TX (FHA|USDA|VA) 1 $265,000 $265,000 $14,586 5.13%
Gainesville, TX (FHA|USDA|VA) 1 $255,000 $255,000 $11,873 6.99%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 2 $250,000 $125,000 $7,880 6.44%
Ozark, AL (FHA|USDA|VA) 1 $245,000 $245,000 $9,670 7.25%
Natchitoches, LA (FHA|USDA|VA) 1 $245,000 $245,000 $9,556 4.75%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $9,105 3.00%
Cullman, AL (FHA|USDA|VA) 1 $235,000 $235,000 $9,266 5.63%
Laramie, WY (FHA|USDA|VA) 1 $235,000 $235,000 $3,811 5.88%
Lewisburg, TN (FHA|USDA|VA) 1 $235,000 $235,000 $3,998 3.88%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $235,000 $235,000 $6,823 3.25%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $225,000 $225,000 $8,262 6.50%
GAINESVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $10,028 5.00%
Newberry, SC (FHA|USDA|VA) 2 $210,000 $105,000 $13,942 5.75%
Craig, CO (FHA|USDA|VA) 1 $205,000 $205,000 $4,576 5.99%
Corinth, MS (FHA|USDA|VA) 1 $185,000 $185,000 $7,819 7.25%
Snyder, TX (FHA|USDA|VA) 1 $175,000 $175,000 $8,752 5.63%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $175,000 $175,000 $9,705 6.50%
Lawrenceburg, TN (FHA|USDA|VA) 1 $175,000 $175,000 $10,515 4.50%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $175,000 $175,000 $15,337 7.25%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $175,000 $175,000 $9,797 4.63%
Murray, KY (FHA|USDA|VA) 1 $165,000 $165,000 $7,991 6.13%
Burlington, IA-IL (FHA|USDA|VA) 1 $165,000 $165,000 $8,326 6.63%
Urbana, OH (FHA|USDA|VA) 1 $165,000 $165,000 $9,082 5.63%
ROCHESTER, MN (FHA|USDA|VA) 1 $165,000 $165,000 $5,815 5.25%
VICTORIA, TX (FHA|USDA|VA) 1 $165,000 $165,000 $7,953 5.50%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $165,000 $165,000 $11,837 4.88%
Dyersburg, TN (FHA|USDA|VA) 1 $155,000 $155,000 $7,047 5.13%
FLINT, MI (FHA|USDA|VA) 1 $155,000 $155,000 $8,519 6.13%
JACKSON, MI (FHA|USDA|VA) 1 $155,000 $155,000 $13,168 7.00%
Kendallville, IN (FHA|USDA|VA) 1 $145,000 $145,000 $5,614 5.99%
Cleveland, MS (FHA|USDA|VA) 1 $145,000 $145,000 $7,712 5.88%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 1 $145,000 $145,000 $6,052 6.75%
Zanesville, OH (FHA|USDA|VA) 1 $145,000 $145,000 $9,089 6.38%
MIDLAND, MI (FHA|USDA|VA) 1 $135,000 $135,000 $8,930 5.50%
Wabash, IN (FHA|USDA|VA) 1 $135,000 $135,000 $4,758 4.25%
Plymouth, IN (FHA|USDA|VA) 1 $135,000 $135,000 $4,205 3.50%
Marion, IN (FHA|USDA|VA) 1 $125,000 $125,000 $3,757 5.63%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $125,000 $125,000 $5,149 4.88%
LAKE CHARLES, LA (FHA|USDA|VA) 1 $125,000 $125,000 $12,276 7.25%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $125,000 $125,000 $6,565 5.88%
Greenville, OH (FHA|USDA|VA) 1 $125,000 $125,000 $7,352 6.25%
BOWLING GREEN, KY (FHA|USDA|VA) 1 $125,000 $125,000 $6,078 4.13%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $125,000 $125,000 $7,692 4.99%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $125,000 $125,000 $12,300 5.63%
Sikeston, MO (FHA|USDA|VA) 1 $115,000 $115,000 $5,162 3.63%
Crawfordsville, IN (FHA|USDA|VA) 1 $115,000 $115,000 $6,035 5.13%
SAN ANGELO, TX (FHA|USDA|VA) 1 $105,000 $105,000 $5,978 6.50%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $105,000 $105,000 $5,857 4.63%
Clarksdale, MS (FHA|USDA|VA) 1 $105,000 $105,000 $6,777 5.75%
Clinton, IA (FHA|USDA|VA) 1 $105,000 $105,000 $6,006 5.88%
Bardstown, KY (FHA|USDA|VA) 1 $105,000 $105,000 $5,705 5.50%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $95,000 $95,000 $4,901 6.50%
Somerset, KY (FHA|USDA|VA) 1 $95,000 $95,000 $7,461 4.75%
Orangeburg, SC (FHA|USDA|VA) 1 $95,000 $95,000 $9,782 5.63%
Union City, TN (FHA|USDA|VA) 1 $95,000 $95,000 $6,908 5.63%
New Castle, IN (FHA|USDA|VA) 1 $85,000 $85,000 $5,368 5.75%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $85,000 $85,000 $8,311 7.13%
Connersville, IN (FHA|USDA|VA) 1 $85,000 $85,000 $6,191 4.63%
SPRINGFIELD, OH (FHA|USDA|VA) 1 $75,000 $75,000 $5,495 6.13%
Southwest Funding Lp's top markets include Dallas, San Antonio, Clarksville, Houston, and Memphis among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against SOUTHWEST FUNDING LP based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bossier Federal Credit Union
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,212 $330,670,000 $272,830 $9,857 5.26%
    FHA 1,171 $278,475,000 $237,810 $12,396 5.32%
    VA 262 $83,600,000 $319,084 $13,313 5.20%
    USDA 90 $16,900,000 $187,778 $8,702 5.17%

    For 2022, Southwest Funding Lp's most frequently originated type of loan was Conventional, with 1,212 originations. Their 2nd most popular type was FHA, with 1,171 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,308 $600,530,000 $260,195 $11,545 5.39%
    Cash Out Refi 287 $71,485,000 $249,077 $9,621 4.92%
    Refi 139 $37,285,000 $268,237 $9,440 4.18%
    Other 1 $345,000 $345,000 $12,649 6.25%

    For 2022, Southwest Funding Lp's most frequently cited loan purpose was Home Purchase, with 2,308 originations. The 2nd most popular reason was Cash Out Refi, with 287 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,663 $695,585,000 $261,204 $11,283 5.30%
    15 Year 55 $10,835,000 $197,000 $9,889 4.25%
    20 Year 13 $2,415,000 $185,769 $8,255 4.70%
    10 Year 2 $260,000 $130,000 $6,771 3.88%
    Other 2 $550,000 $275,000 $10,179 3.50%

    For 2022, Southwest Funding Lp's most frequently cited loan duration was 30 Year, with 2,663 originations. The 2nd most popular length was 15 Year, with 55 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,194 $563,910,000 $257,024
    $<1k 374 $99,920,000 $267,166
    $5k+ 30 $11,850,000 $395,000
    $2k-3k 16 $4,370,000 $273,125
    $3k-4k 7 $1,605,000 $229,286
    $4k-5k 4 $1,040,000 $260,000

    Southwest Funding Lp's average total fees were $11,283, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,194 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 968 $254,440,000 $262,851
    4-5% 627 $154,425,000 $246,292
    3-4% 456 $126,280,000 $276,930
    6-7% 454 $117,320,000 $258,414
    7-8% 164 $40,720,000 $248,293
    2.5-3% 30 $8,700,000 $290,000
    Over 8% 26 $6,740,000 $259,231
    <2.5% 9 $825,000 $91,667

    During 2022, Southwest Funding Lp's average interest rate for loans was 5.30%, while their most frequently originated rate bucket for loans was 5-6%, with 968 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 1,459 $409,005,000 $280,332 $12,006 5.30%
    $100k-200k 824 $128,380,000 $155,801 $8,449 5.28%
    $400k-600k 282 $131,570,000 $466,560 $16,190 5.20%
    $100,000 or less 123 $9,715,000 $78,984 $6,453 5.26%
    $600k-1MM 47 $30,975,000 $659,043 $18,913 5.08%

    2022 saw Southwest Funding Lp place emphasis on $200k-400k loans with 1,459 originations, totaling $409,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 830 $179,830,000 $216,663 $10,170 5.32%
    $75k-100k 600 $164,330,000 $273,883 $11,935 5.33%
    $100k-150k 537 $172,875,000 $321,927 $12,946 5.40%
    $50k or less 461 $70,295,000 $152,484 $8,169 5.02%
    $150k-250k 246 $94,890,000 $385,732 $14,175 5.26%
    $250k+ 61 $27,425,000 $449,590 $15,186 5.10%

    Southwest Funding Lp lent most frequently to those with incomes in the $50k-75k range, with 830 originations. The second most popular income band? $75k-100k, with 600 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 449 $120,335,000 $268,007 $13,449 5.46%
    30-36% 397 $97,295,000 $245,076 $10,614 5.20%
    20-30% 285 $69,155,000 $242,649 $9,965 5.13%
    49% 156 $43,860,000 $281,154 $11,260 5.34%
    44% 144 $39,180,000 $272,083 $11,118 5.26%
    43% 122 $33,600,000 $275,410 $11,209 5.37%
    45% 111 $30,135,000 $271,486 $11,460 5.29%
    48% 109 $28,765,000 $263,899 $11,549 5.36%
    38% 109 $28,595,000 $262,339 $10,160 5.40%
    41% 105 $26,865,000 $255,857 $10,344 5.24%
    39% 105 $26,595,000 $253,286 $10,687 5.28%
    42% 102 $27,270,000 $267,353 $10,701 5.41%
    46% 96 $25,570,000 $266,354 $11,684 5.27%
    47% 95 $25,285,000 $266,158 $10,578 5.28%
    37% 94 $23,580,000 $250,851 $10,904 5.22%
    40% 93 $23,465,000 $252,312 $11,198 5.37%
    36% 68 $18,580,000 $273,235 $12,655 5.20%
    <20% 67 $14,585,000 $217,687 $8,702 4.99%
    >60% 13 $4,315,000 $331,923 $16,963 5.11%

    Southwest Funding Lp lent most frequently to those with DTI ratios of 50-60%, with 449 originations. The next most common DTI ratio? 30-36%, with 397 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,702 $446,550,000 $262,368 $11,204 5.25%
    Black 687 $168,005,000 $244,549 $11,233 5.27%
    Not provided 270 $69,720,000 $258,222 $11,384 5.44%
    Asian 59 $20,265,000 $343,475 $11,605 5.35%
    American Indian 9 $2,615,000 $290,556 $9,530 5.47%
    Asian Indian 3 $945,000 $315,000 $9,185 5.33%
    Native Hawaiian or Islander 3 $895,000 $298,333 $16,166 4.83%
    Vietnamese 1 $355,000 $355,000 $6,788 3.99%
    Other Pacific Islander 1 $295,000 $295,000 $19,204 6.75%

    Approval Rates

    Total approvals of all applications
    98.99%

    Southwest Funding Lp has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    74.48%

    Southwest Funding Lp has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,735 $709,645,000 $259,468

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,735 $709,645,000 $259,468

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 37 $6,065,000 $163,919 $9,345 5.09%
    40-60% 132 $30,220,000 $228,939 $10,254 4.65%
    60-80% 469 $127,955,000 $272,825 $10,391 5.14%
    80-100% 1,992 $516,100,000 $259,086 $11,276 5.37%
    Over 100% 93 $28,515,000 $306,613 $17,664 5.29%
    Under 20% 11 $595,000 $54,091 $3,453 1.77%