Southwest Funding Lp Mortgage Rates, Fees & Info

DALLAS, TX

LEI: 5493006P5IHSK77SZ855

Tax ID: 75-2674544

1 stars - out of 5 stars, based on 73 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Review & Overview

    Southwest Funding Lp is a small mortgage company specializing in 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, Austin, Clarksville, and Memphis among others. We have data for 251 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 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.

    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
    Home Equity Line of Credit (HELOC) 6.58% 12/4/22
    30 Year Conventional Purchase 7.62% 12/4/22
    30 Year Conventional Refi 7.05% 12/4/22
    30 Year Cash-out Refi 7.31% 12/4/22
    30 Year FHA Purchase 8.48% 12/4/22
    30 Year FHA Refi 7.93% 12/4/22
    30 Year VA Purchase 7.27% 12/4/22
    30 Year VA Refi 6.64% 12/4/22
    30 Year USDA Purchase 7.78% 12/4/22
    30 Year USDA Refi 7.26% 12/4/22
    15 Year Conventional Purchase 6.48% 12/4/22
    15 Year Conventional Refi 6.31% 12/4/22
    15 Year Cash-out Refi 6.31% 12/4/22
    15 Year FHA Refi 7.94% 12/4/22
    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.


    Originations

    5,258

    Origination Dollar Volume (All Markets)

    $1,237,090,000

    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 3.42%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.27%.

    Relative Fees (Closing Costs)

    Southwest Funding Lp's average total fees/closing costs for a 30 year fixed rate mortgage were $9,779.

    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) 980 $258,800,000 $264,082 $11,942 3.34%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 396 $108,870,000 $274,924 $10,255 3.34%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 194 $58,710,000 $302,629 $10,729 3.31%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 238 $56,630,000 $237,941 $10,096 3.47%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 198 $47,240,000 $238,586 $9,794 3.44%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 180 $45,760,000 $254,222 $12,438 3.47%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 151 $43,345,000 $287,053 $7,964 2.77%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 207 $42,455,000 $205,097 $9,478 3.50%
    Outside of Metro Areas 177 $37,345,000 $210,989 $8,125 3.46%
    TUSCALOOSA, AL (FHA|USDA|VA) 154 $34,420,000 $223,506 $8,591 3.42%
    LONGVIEW, TX (FHA|USDA|VA) 129 $27,985,000 $216,938 $9,233 3.42%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 119 $26,475,000 $222,479 $7,868 3.48%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 79 $21,575,000 $273,101 $8,694 3.34%
    LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 91 $19,225,000 $211,264 $6,573 3.47%
    BATON ROUGE, LA (FHA|USDA|VA) 89 $18,455,000 $207,360 $9,393 3.64%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 78 $17,280,000 $221,538 $5,762 3.40%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 86 $17,110,000 $198,953 $9,391 3.65%
    LAREDO, TX (FHA|USDA|VA) 60 $14,230,000 $237,167 $9,462 3.24%
    LAFAYETTE, LA (FHA|USDA|VA) 71 $14,075,000 $198,239 $8,346 3.63%
    HUNTSVILLE, AL (FHA|USDA|VA) 51 $13,125,000 $257,353 $7,331 3.30%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 54 $11,700,000 $216,667 $8,693 3.35%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 53 $11,635,000 $219,528 $8,891 3.50%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 51 $11,625,000 $227,941 $7,750 3.70%
    HOUMA-THIBODAUX, LA (FHA|USDA|VA) 64 $10,350,000 $161,719 $7,545 3.46%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 45 $10,275,000 $228,333 $8,565 3.27%
    Hobbs, NM (FHA|USDA|VA) 42 $9,290,000 $221,190 $8,506 3.37%
    TULSA, OK (FHA|USDA|VA) 42 $8,950,000 $213,095 $24,486 3.39%
    FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 48 $8,870,000 $184,792 $6,099 3.46%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 26 $8,060,000 $310,000 $7,074 3.16%
    Mount Pleasant, TX (FHA|USDA|VA) 43 $7,785,000 $181,047 $8,805 3.13%
    EL PASO, TX (FHA|USDA|VA) 37 $7,075,000 $191,216 $8,824 3.51%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 20 $6,770,000 $338,500 $11,507 3.03%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 37 $6,665,000 $180,135 $7,383 3.34%
    SPARTANBURG, SC (FHA|USDA|VA) 33 $6,615,000 $200,455 $7,874 3.83%
    Bay City, TX (FHA|USDA|VA) 36 $6,550,000 $181,944 $10,170 3.37%
    COLUMBIA, SC (FHA|USDA|VA) 29 $6,175,000 $212,931 $7,911 3.45%
    GREELEY, CO (FHA|USDA|VA) 23 $5,765,000 $250,652 $7,237 2.71%
    TYLER, TX (FHA|USDA|VA) 24 $5,680,000 $236,667 $10,846 3.21%
    BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 33 $5,655,000 $171,364 $8,326 3.50%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 28 $5,620,000 $200,714 $9,010 3.56%
    ALBUQUERQUE, NM (FHA|USDA|VA) 22 $5,550,000 $252,273 $6,644 3.27%
    HAMMOND, LA (FHA|USDA|VA) 25 $5,085,000 $203,400 $8,312 3.33%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 21 $4,525,000 $215,476 $7,142 3.31%
    KNOXVILLE, TN (FHA|USDA|VA) 22 $4,390,000 $199,545 $6,512 3.60%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 15 $3,985,000 $265,667 $5,938 2.45%
    El Campo, TX (FHA|USDA|VA) 17 $3,735,000 $219,706 $8,124 3.16%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 12 $3,530,000 $294,167 $14,824 3.35%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 12 $3,390,000 $282,500 $11,668 3.29%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 17 $3,355,000 $197,353 $9,696 3.39%
    Carlsbad-Artesia, NM (FHA|USDA|VA) 12 $3,130,000 $260,833 $7,056 3.88%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 16 $3,040,000 $190,000 $7,983 3.58%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 14 $3,020,000 $215,714 $11,031 3.46%
    MONROE, LA (FHA|USDA|VA) 14 $2,860,000 $204,286 $7,627 3.46%
    MOBILE, AL (FHA|USDA|VA) 15 $2,755,000 $183,667 $7,066 3.31%
    Opelousas, LA (FHA|USDA|VA) 11 $2,335,000 $212,273 $9,828 3.60%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 15 $2,295,000 $153,000 $6,892 3.57%
    GADSDEN, AL (FHA|USDA|VA) 11 $1,995,000 $181,364 $6,643 3.43%
    WACO, TX (FHA|USDA|VA) 8 $1,860,000 $232,500 $7,973 3.37%
    PUNTA GORDA, FL (FHA|USDA|VA) 8 $1,840,000 $230,000 $12,435 3.44%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 11 $1,735,000 $157,727 $7,464 3.53%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 8 $1,730,000 $216,250 $7,912 3.73%
    SALEM, OR (FHA|USDA|VA) 6 $1,720,000 $286,667 $5,251 3.27%
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 8 $1,700,000 $212,500 $9,452 3.39%
    MIDLAND, TX (FHA|USDA|VA) 6 $1,580,000 $263,333 $11,251 3.13%
    JACKSON, TN (FHA|USDA|VA) 9 $1,525,000 $169,444 $8,512 3.49%
    Sevierville, TN (FHA|USDA|VA) 8 $1,520,000 $190,000 $7,280 3.50%
    MONTGOMERY, AL (FHA|USDA|VA) 6 $1,500,000 $250,000 $8,482 3.15%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 5 $1,495,000 $299,000 $14,400 3.58%
    Granbury, TX (FHA|USDA|VA) 5 $1,435,000 $287,000 $9,799 3.32%
    FORT COLLINS, CO (FHA|USDA|VA) 5 $1,405,000 $281,000 $6,391 2.40%
    ODESSA, TX (FHA|USDA|VA) 6 $1,350,000 $225,000 $11,517 3.71%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 6 $1,350,000 $225,000 $8,810 3.58%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 5 $1,345,000 $269,000 $11,091 3.13%
    Tullahoma-Manchester, TN (FHA|USDA|VA) 7 $1,315,000 $187,857 $7,305 3.41%
    BOULDER, CO (FHA|USDA|VA) 3 $1,245,000 $415,000 $6,940 3.38%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 6 $1,240,000 $206,667 $7,394 3.31%
    FORT WAYNE, IN (FHA|USDA|VA) 7 $1,205,000 $172,143 $5,431 3.48%
    PUEBLO, CO (FHA|USDA|VA) 7 $1,205,000 $172,143 $6,094 1.82%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $1,205,000 $241,000 $7,228 3.23%
    KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 2 $1,190,000 $595,000 $17,158 3.00%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 6 $1,190,000 $198,333 $8,956 3.25%
    VICTORIA, TX (FHA|USDA|VA) 5 $1,165,000 $233,000 $11,643 3.28%
    Muscatine, IA (FHA|USDA|VA) 10 $1,100,000 $110,000 $5,788 3.96%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 5 $1,015,000 $203,000 $16,637 3.45%
    DECATUR, AL (FHA|USDA|VA) 5 $995,000 $199,000 $6,000 3.30%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 4 $990,000 $247,500 $11,817 3.72%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 4 $990,000 $247,500 $7,585 3.15%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 5 $905,000 $181,000 $6,680 3.55%
    FLINT, MI (FHA|USDA|VA) 5 $895,000 $179,000 $8,129 3.75%
    CLEVELAND, TN (FHA|USDA|VA) 3 $895,000 $298,333 $5,997 3.08%
    MORRISTOWN, TN (FHA|USDA|VA) 4 $890,000 $222,500 $10,923 3.44%
    Athens, TX (FHA|USDA|VA) 5 $885,000 $177,000 $8,319 3.35%
    Fort Morgan, CO (FHA|USDA|VA) 4 $860,000 $215,000 $9,622 2.22%
    Lewisburg, TN (FHA|USDA|VA) 4 $860,000 $215,000 $8,949 3.13%
    SAGINAW, MI (FHA|USDA|VA) 6 $840,000 $140,000 $6,450 3.83%
    Crossville, TN (FHA|USDA|VA) 4 $820,000 $205,000 $6,529 3.47%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $815,000 $271,667 $13,830 3.63%
    JACKSONVILLE, FL (FHA|USDA|VA) 5 $775,000 $155,000 $7,711 3.88%
    Lawrenceburg, TN (FHA|USDA|VA) 4 $770,000 $192,500 $7,421 3.66%
    Greenwood, SC (FHA|USDA|VA) 4 $700,000 $175,000 $7,368 3.78%
    Greensburg, IN (FHA|USDA|VA) 4 $650,000 $162,500 $6,822 3.44%
    Morgan City, LA (FHA|USDA|VA) 3 $645,000 $215,000 $7,367 3.08%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $635,000 $211,667 $9,400 3.33%
    Minden, LA (FHA|USDA|VA) 5 $635,000 $127,000 $5,385 3.65%
    ABILENE, TX (FHA|USDA|VA) 2 $590,000 $295,000 $13,319 3.69%
    TERRE HAUTE, IN (FHA|USDA|VA) 4 $590,000 $147,500 $5,958 3.84%
    Mineral Wells, TX (FHA|USDA|VA) 3 $585,000 $195,000 $8,210 3.58%
    Nacogdoches, TX (FHA|USDA|VA) 3 $585,000 $195,000 $8,965 3.62%
    MIDLAND, MI (FHA|USDA|VA) 4 $580,000 $145,000 $7,425 3.94%
    Beeville, TX (FHA|USDA|VA) 2 $570,000 $285,000 $9,165 3.13%
    Eagle Pass, TX (FHA|USDA|VA) 3 $565,000 $188,333 $5,624 3.50%
    LAWTON, OK (FHA|USDA|VA) 3 $555,000 $185,000 $7,359 3.25%
    Jasper, IN (FHA|USDA|VA) 3 $555,000 $185,000 $6,507 3.92%
    Natchitoches, LA (FHA|USDA|VA) 3 $545,000 $181,667 $8,808 3.67%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $545,000 $545,000 $13,940 2.75%
    Paris, TN (FHA|USDA|VA) 3 $515,000 $171,667 $8,158 3.67%
    Cullman, AL (FHA|USDA|VA) 3 $515,000 $171,667 $7,441 3.75%
    Brenham, TX (FHA|USDA|VA) 2 $510,000 $255,000 $8,594 2.75%
    ENID, OK (FHA|USDA|VA) 3 $505,000 $168,333 $11,000 3.67%
    LAKE CHARLES, LA (FHA|USDA|VA) 3 $505,000 $168,333 $7,811 3.79%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $500,000 $250,000 $7,807 3.75%
    Starkville, MS (FHA|USDA|VA) 4 $500,000 $125,000 $5,732 3.38%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 3 $495,000 $165,000 $7,996 3.79%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 4 $480,000 $120,000 $8,608 4.09%
    Albertville, AL (FHA|USDA|VA) 3 $465,000 $155,000 $6,651 3.42%
    Seneca, SC (FHA|USDA|VA) 2 $460,000 $230,000 $9,211 3.50%
    Arcadia, FL (FHA|USDA|VA) 2 $450,000 $225,000 $8,961 3.38%
    Corsicana, TX (FHA|USDA|VA) 3 $445,000 $148,333 $10,297 3.83%
    GRAND JUNCTION, CO (FHA|USDA|VA) 3 $445,000 $148,333 $8,238 2.00%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 3 $435,000 $145,000 $5,507 3.96%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $430,000 $215,000 $9,213 3.38%
    Winona, MN (FHA|USDA|VA) 3 $425,000 $141,667 $5,484 3.21%
    Ruidoso, NM (FHA|USDA|VA) 2 $420,000 $210,000 $5,397 4.00%
    Newberry, SC (FHA|USDA|VA) 2 $400,000 $200,000 $5,498 3.63%
    McAlester, OK (FHA|USDA|VA) 3 $395,000 $131,667 $6,255 3.12%
    Gainesville, TX (FHA|USDA|VA) 1 $385,000 $385,000 $11,131 3.75%
    Del Rio, TX (FHA|USDA|VA) 2 $380,000 $190,000 $7,377 3.25%
    Kerrville, TX (FHA|USDA|VA) 2 $380,000 $190,000 $7,599 3.44%
    Frankfort, IN (FHA|USDA|VA) 3 $365,000 $121,667 $6,222 3.88%
    Logansport, IN (FHA|USDA|VA) 2 $360,000 $180,000 $7,130 3.44%
    WICHITA, KS (FHA|USDA|VA) 2 $360,000 $180,000 $6,218 3.50%
    COLUMBUS, OH (FHA|USDA|VA) 2 $350,000 $175,000 $6,157 3.63%
    Bartlesville, OK (FHA|USDA|VA) 2 $350,000 $175,000 $9,947 3.44%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 2 $350,000 $175,000 $10,007 3.56%
    FLORENCE, SC (FHA|USDA|VA) 2 $340,000 $170,000 $7,754 3.69%
    LUBBOCK, TX (FHA|USDA|VA) 2 $330,000 $165,000 $8,465 3.44%
    McMinnville, TN (FHA|USDA|VA) 2 $330,000 $165,000 $8,236 3.56%
    Shelbyville, TN (FHA|USDA|VA) 2 $330,000 $165,000 $4,031 3.31%
    Ruston, LA (FHA|USDA|VA) 2 $310,000 $155,000 $7,719 3.50%
    NILES, MI (FHA|USDA|VA) 2 $300,000 $150,000 $4,937 3.25%
    Richmond, IN (FHA|USDA|VA) 2 $300,000 $150,000 $6,058 4.00%
    OWENSBORO, KY (FHA|USDA|VA) 1 $295,000 $295,000 $8,104 3.38%
    Decatur, IN (FHA|USDA|VA) 2 $290,000 $145,000 $2,617 3.63%
    Kalispell, MT (FHA|USDA|VA) 1 $285,000 $285,000 $9,598 3.13%
    SANTA FE, NM (FHA|USDA|VA) 1 $285,000 $285,000 $9,309 2.63%
    Washington, IN (FHA|USDA|VA) 1 $285,000 $285,000 $2,289 2.99%
    Montrose, CO (FHA|USDA|VA) 1 $285,000 $285,000 $5,960 3.88%
    Orangeburg, SC (FHA|USDA|VA) 2 $280,000 $140,000 $7,039 3.56%
    Paris, TX (FHA|USDA|VA) 1 $275,000 $275,000 $12,005 3.25%
    Fredericksburg, TX (FHA|USDA|VA) 1 $275,000 $275,000 $12,468 3.13%
    Rockport, TX (FHA|USDA|VA) 1 $275,000 $275,000 $8,661 4.00%
    WICHITA FALLS, TX (FHA|USDA|VA) 2 $260,000 $130,000 $9,547 4.00%
    Union, SC (FHA|USDA|VA) 2 $260,000 $130,000 $8,390 3.81%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 2 $260,000 $130,000 $5,101 3.43%
    WHEELING, WV-OH (FHA|USDA|VA) 1 $255,000 $255,000 $6,439 3.63%
    Steamboat Springs, CO (FHA|USDA|VA) 1 $255,000 $255,000 $9,603 3.25%
    ASHEVILLE, NC (FHA|USDA|VA) 1 $255,000 $255,000 $4,037 2.88%
    Warsaw, IN (FHA|USDA|VA) 2 $250,000 $125,000 $5,090 3.56%
    Weatherford, OK (FHA|USDA|VA) 1 $245,000 $245,000 $12,620 3.88%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $240,000 $120,000 $5,438 3.13%
    Greenwood, MS (FHA|USDA|VA) 2 $240,000 $120,000 $7,536 3.94%
    Martin, TN (FHA|USDA|VA) 2 $240,000 $120,000 $5,594 3.88%
    Oxford, MS (FHA|USDA|VA) 1 $235,000 $235,000 $10,887 3.25%
    Durant, OK (FHA|USDA|VA) 1 $235,000 $235,000 $6,559 2.99%
    Alma, MI (FHA|USDA|VA) 2 $230,000 $115,000 $5,717 3.69%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 2 $230,000 $115,000 $2,672 3.63%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 2 $230,000 $115,000 $9,308 3.38%
    Sulphur Springs, TX (FHA|USDA|VA) 1 $225,000 $225,000 $4,255 2.88%
    JACKSONVILLE, NC (FHA|USDA|VA) 1 $225,000 $225,000 $8,173 4.25%
    TOLEDO, OH (FHA|USDA|VA) 1 $225,000 $225,000 $11,173 3.88%
    Muskogee, OK (FHA|USDA|VA) 1 $225,000 $225,000 $5,995 3.00%
    Palestine, TX (FHA|USDA|VA) 1 $225,000 $225,000 $4,876 3.25%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $6,366 3.49%
    Van Wert, OH (FHA|USDA|VA) 2 $220,000 $110,000 $5,451 2.88%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $215,000 $215,000 $6,658 3.75%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $215,000 $215,000 $10,391 3.25%
    Shawnee, OK (FHA|USDA|VA) 2 $210,000 $105,000 $7,944 3.69%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $210,000 $105,000 $5,683 3.94%
    Alpena, MI (FHA|USDA|VA) 2 $210,000 $105,000 $5,497 4.63%
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 1 $205,000 $205,000 $8,243 3.63%
    Stillwater, OK (FHA|USDA|VA) 1 $205,000 $205,000 $6,740 3.25%
    ST. CLOUD, MN (FHA|USDA|VA) 1 $205,000 $205,000 $4,530 3.25%
    MANKATO, MN (FHA|USDA|VA) 1 $205,000 $205,000 $5,425 3.25%
    COLUMBUS, IN (FHA|USDA|VA) 1 $205,000 $205,000 $7,759 4.25%
    Sikeston, MO (FHA|USDA|VA) 1 $205,000 $205,000 $3,350 3.25%
    Jacksonville, TX (FHA|USDA|VA) 1 $195,000 $195,000 $13,006 3.50%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $195,000 $195,000 $7,410 3.75%
    ROCHESTER, MN (FHA|USDA|VA) 1 $195,000 $195,000 $2,535 2.75%
    Bemidji, MN (FHA|USDA|VA) 1 $195,000 $195,000 $6,685 2.49%
    Fort Payne, AL (FHA|USDA|VA) 1 $195,000 $195,000 $5,923 2.75%
    Sturgis, MI (FHA|USDA|VA) 1 $195,000 $195,000 $12,499 2.88%
    Burlington, IA-IL (FHA|USDA|VA) 1 $185,000 $185,000 $7,512 3.25%
    Cleveland, MS (FHA|USDA|VA) 1 $185,000 $185,000 $11,423 3.50%
    New Castle, IN (FHA|USDA|VA) 1 $185,000 $185,000 $7,743 3.75%
    Greeneville, TN (FHA|USDA|VA) 1 $175,000 $175,000 $7,297 4.50%
    Jennings, LA (FHA|USDA|VA) 1 $175,000 $175,000 $9,511 3.88%
    JOHNSON CITY, TN (FHA|USDA|VA) 1 $175,000 $175,000 $7,634 3.75%
    Gaffney, SC (FHA|USDA|VA) 1 $175,000 $175,000 $6,188 3.00%
    Bedford, IN (FHA|USDA|VA) 1 $165,000 $165,000 $2,825 3.25%
    LaGrange, GA-AL (FHA|USDA|VA) 1 $165,000 $165,000 $4,762 3.13%
    Tahlequah, OK (FHA|USDA|VA) 1 $155,000 $155,000 $8,689 4.13%
    FARMINGTON, NM (FHA|USDA|VA) 1 $155,000 $155,000 $5,082 4.25%
    ALEXANDRIA, LA (FHA|USDA|VA) 1 $155,000 $155,000 $13,427 4.00%
    Central City, KY (FHA|USDA|VA) 1 $155,000 $155,000 $7,246 3.25%
    Connersville, IN (FHA|USDA|VA) 1 $155,000 $155,000 $6,402 3.88%
    AMARILLO, TX (FHA|USDA|VA) 1 $155,000 $155,000 $6,103 2.75%
    Angola, IN (FHA|USDA|VA) 1 $155,000 $155,000 $2,663 3.88%
    GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $145,000 $145,000 $5,428 3.63%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $145,000 $145,000 $3,470 3.88%
    OCALA, FL (FHA|USDA|VA) 1 $145,000 $145,000 $9,632 3.13%
    Jasper, AL (FHA|USDA|VA) 1 $145,000 $145,000 $6,635 3.38%
    Wauchula, FL (FHA|USDA|VA) 1 $145,000 $145,000 $8,842 3.75%
    Mount Pleasant, MI (FHA|USDA|VA) 1 $145,000 $145,000 $7,427 3.25%
    Atmore, AL (FHA|USDA|VA) 1 $135,000 $135,000 $4,406 2.75%
    Duncan, OK (FHA|USDA|VA) 1 $135,000 $135,000 $5,599 3.88%
    Sterling, IL (FHA|USDA|VA) 1 $125,000 $125,000 $4,059 3.13%
    Lufkin, TX (FHA|USDA|VA) 1 $125,000 $125,000 $11,759 3.13%
    Crawfordsville, IN (FHA|USDA|VA) 1 $125,000 $125,000 $4,762 4.25%
    Cookeville, TN (FHA|USDA|VA) 1 $125,000 $125,000 $6,907 3.13%
    Union City, TN (FHA|USDA|VA) 1 $125,000 $125,000 $7,994 3.50%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $125,000 $125,000 $3,894 2.50%
    SUMTER, SC (FHA|USDA|VA) 1 $115,000 $115,000 $7,081 4.00%
    Madison, IN (FHA|USDA|VA) 1 $115,000 $115,000 $5,448 3.38%
    Dayton, TN (FHA|USDA|VA) 1 $115,000 $115,000 $5,446 2.63%
    Bardstown, KY (FHA|USDA|VA) 1 $115,000 $115,000 $4,625 3.50%
    BAY CITY, MI (FHA|USDA|VA) 1 $105,000 $105,000 $8,615 4.25%
    Portsmouth, OH (FHA|USDA|VA) 1 $105,000 $105,000 $6,854 4.13%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $105,000 $105,000 $5,002 4.25%
    Norwalk, OH (FHA|USDA|VA) 1 $105,000 $105,000 $6,018 3.88%
    West Point, MS (FHA|USDA|VA) 1 $95,000 $95,000 $7,158 3.88%
    Scottsburg, IN (FHA|USDA|VA) 1 $95,000 $95,000 $4,599 3.38%
    Auburn, IN (FHA|USDA|VA) 1 $85,000 $85,000 $3,391 3.50%
    KOKOMO, IN (FHA|USDA|VA) 1 $85,000 $85,000 $1,829 3.75%
    Sweetwater, TX (FHA|USDA|VA) 1 $85,000 $85,000 $4,808 3.88%
    Bogalusa, LA (FHA|USDA|VA) 1 $85,000 $85,000 $6,697 3.75%
    Scottsboro, AL (FHA|USDA|VA) 1 $85,000 $85,000 $4,901 3.75%
    Brownwood, TX (FHA|USDA|VA) 1 $75,000 $75,000 $9,849 4.50%
    Mayfield, KY (FHA|USDA|VA) 1 $75,000 $75,000 $2,645 2.88%
    Manitowoc, WI (FHA|USDA|VA) 1 $75,000 $75,000 $4,648 3.00%
    BATTLE CREEK, MI (FHA|USDA|VA) 1 $75,000 $75,000 $4,144 3.88%
    Peru, IN (FHA|USDA|VA) 1 $65,000 $65,000 $4,622 3.75%
    Southwest Funding Lp's top markets include Dallas, San Antonio, Austin, Clarksville, 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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,500 $625,020,000 $250,008 $8,136 3.32%
    FHA 2,067 $438,765,000 $212,271 $11,341 3.49%
    VA 470 $135,880,000 $289,106 $11,141 3.32%
    USDA 221 $37,425,000 $169,344 $7,245 3.47%

    For 2021, Southwest Funding Lp's most frequently originated type of loan was Conventional, with 2,500 originations. Their 2nd most popular type was FHA, with 2,067 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,747 $885,295,000 $236,268 $10,111 3.47%
    Refi 992 $232,550,000 $234,425 $8,551 3.08%
    Cash Out Refi 517 $119,235,000 $230,629 $8,169 3.46%
    Other 2 $10,000 $5,000 $125 0.00%

    For 2021, Southwest Funding Lp's most frequently cited loan purpose was Home Purchase, with 3,747 originations. The 2nd most popular reason was Refi, with 992 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,944 $1,173,240,000 $237,306 $9,779 3.42%
    15 Year 223 $43,895,000 $196,839 $6,870 2.82%
    20 Year 50 $11,070,000 $221,400 $7,703 3.20%
    Other 31 $7,725,000 $249,194 $8,305 2.92%
    10 Year 9 $1,145,000 $127,222 $8,178 2.80%
    30+ year 1 $15,000 $15,000 $125 0.00%

    For 2021, Southwest Funding Lp's most frequently cited loan duration was 30 Year, with 4,944 originations. The 2nd most popular length was 15 Year, with 223 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 3,680 $870,190,000 $236,465
    $<1k 1,049 $244,265,000 $232,855
    $2k-3k 145 $29,595,000 $204,103
    $3k-4k 127 $28,915,000 $227,677
    $4k-5k 53 $14,715,000 $277,642
    $5k+ 52 $19,310,000 $371,346

    Southwest Funding Lp's average total fees were $9,779, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 3,680 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 3,606 $848,740,000 $235,369
    2.5-3% 1,006 $257,330,000 $255,795
    4-5% 438 $87,590,000 $199,977
    <2.5% 187 $39,415,000 $210,775
    Over 8% 14 $3,270,000 $233,571
    5-6% 2 $130,000 $65,000
    7-8% 2 $350,000 $175,000

    During 2021, Southwest Funding Lp's average interest rate for loans was 3.42%, while their most frequently originated rate bucket for loans was 3-4%, with 3,606 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 2,566 $697,570,000 $271,851 $10,690 3.41%
    $100k-200k 2,012 $316,160,000 $157,137 $7,511 3.46%
    $400k-600k 392 $185,010,000 $471,964 $13,634 3.20%
    $100,000 or less 261 $17,955,000 $68,793 $7,467 3.02%
    $600k-1MM 24 $16,670,000 $694,583 $25,844 3.31%
    $1MM+ 3 $3,725,000 $1,241,667 $32,277 3.50%

    2021 saw Southwest Funding Lp place emphasis on $200k-400k loans with 2,566 originations, totaling $697,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,593 $338,205,000 $212,307 $9,778 3.44%
    $50k or less 1,338 $220,440,000 $164,753 $8,018 3.38%
    $75k-100k 1,009 $256,035,000 $253,751 $9,884 3.42%
    $100k-150k 820 $235,040,000 $286,634 $10,013 3.37%
    $150k-250k 386 $140,500,000 $363,990 $11,453 3.26%
    $250k+ 111 $46,675,000 $420,495 $14,950 3.30%

    Southwest Funding Lp lent most frequently to those with incomes in the $50k-75k range, with 1,593 originations. The second most popular income band? $50k or less, with 1,338 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 838 $195,210,000 $232,947 $9,589 3.38%
    20-30% 736 $170,540,000 $231,712 $8,609 3.32%
    50-60% 621 $149,165,000 $240,201 $11,274 3.46%
    44% 242 $60,790,000 $251,198 $14,387 3.47%
    43% 227 $53,915,000 $237,511 $9,377 3.44%
    40% 224 $50,280,000 $224,464 $9,191 3.51%
    42% 215 $51,945,000 $241,605 $9,280 3.50%
    49% 208 $49,170,000 $236,394 $9,238 3.33%
    36% 202 $46,480,000 $230,099 $8,609 3.44%
    41% 195 $45,925,000 $235,513 $9,374 3.54%
    45% 191 $47,015,000 $246,152 $10,005 3.47%
    39% 190 $45,290,000 $238,368 $8,794 3.50%
    38% 181 $42,235,000 $233,343 $9,085 3.41%
    47% 178 $42,260,000 $237,416 $9,677 3.37%
    <20% 176 $39,650,000 $225,284 $7,806 3.27%
    37% 162 $33,790,000 $208,580 $8,117 3.42%
    48% 153 $37,835,000 $247,288 $9,821 3.42%
    46% 152 $36,260,000 $238,553 $9,733 3.36%
    >60% 19 $5,615,000 $295,526 $11,810 2.74%

    Southwest Funding Lp lent most frequently to those with DTI ratios of 30-36%, with 838 originations. The next most common DTI ratio? 20-30%, with 736 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,433 $812,715,000 $236,736 $9,372 3.36%
    Black 1,203 $269,165,000 $223,745 $9,438 3.50%
    Not provided 497 $122,585,000 $246,650 $12,084 3.37%
    Asian 103 $26,785,000 $260,049 $8,019 3.19%
    American Indian 12 $2,800,000 $233,333 $11,001 2.89%
    Native Hawaiian or Islander 5 $1,465,000 $293,000 $10,855 3.10%
    Asian Indian 2 $560,000 $280,000 $7,480 2.99%
    Korean 1 $405,000 $405,000 $12,328 3.75%
    Other Asian 1 $385,000 $385,000 $25,383 3.50%
    Filipino 1 $225,000 $225,000 $5,048 3.13%

    Approval Rates

    Total approvals of all applications
    99.28%

    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
    82.56%

    Southwest Funding Lp has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,258 $1,237,090,000 $235,278

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    5,258 $1,237,090,000 $235,278

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 79 $12,905,000 $163,354 $7,597 3.24%
    40-60% 295 $60,665,000 $205,644 $8,093 3.14%
    60-80% 1,060 $266,370,000 $251,292 $8,325 3.32%
    80-100% 3,618 $853,030,000 $235,774 $10,013 3.48%
    Over 100% 153 $42,335,000 $276,699 $14,679 3.48%
    Under 20% 51 $1,265,000 $24,804 $3,674 0.19%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    SOUTHWEST FUNDING, LP VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    SOUTHWEST FUNDING, LP FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%