Southwest Funding Lp Mortgage Rates, Fees & Info

DALLAS, TX

LEI: 5493006P5IHSK77SZ855

Tax ID: 75-2674544

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Mortgage Data

Review & Overview

Southwest Funding Lp is a smaller mortgage company specializing in Home Purchase loans. They have a a high proportion of FHA loans. Southwest Funding Lp has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Dallas, Houston, Austin, Denver, and San Antonio among others. We have data for 203 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
30 Year Conventional Purchase 7.26% 10/13/24
30 Year Conventional Refi 6.69% 10/13/24
30 Year Cash-out Refi 6.93% 10/13/24
30 Year FHA Purchase 7.90% 10/13/24
30 Year FHA Refi 7.75% 10/13/24
30 Year VA Purchase 6.77% 10/13/24
30 Year VA Refi 6.28% 10/13/24
30 Year USDA Purchase 7.22% 10/13/24
30 Year USDA Refi 6.27% 10/13/24
15 Year Conventional Purchase 6.25% 10/13/24
15 Year Conventional Refi 6.16% 10/13/24
15 Year Cash-out Refi 6.16% 10/13/24
15 Year VA Purchase 6.86% 10/13/24
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.

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

3,810

Origination Dollar Volume (All Markets)

$744,950,000

Awards

SOUTHWEST FUNDING LP 30 Year Conventional Loans gold
Show all (1) awards

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) 820 $181,210,000 $220,988 $12,982 4.68%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 204 $43,270,000 $212,108 $11,302 4.73%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 161 $35,775,000 $222,205 $10,676 4.74%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 128 $30,810,000 $240,703 $7,307 3.60%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 142 $29,900,000 $210,563 $10,795 4.65%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 156 $28,920,000 $185,385 $9,943 4.82%
LAREDO, TX (FHA|USDA|VA) 133 $25,595,000 $192,444 $9,049 4.53%
LONGVIEW, TX (FHA|USDA|VA) 121 $21,505,000 $177,727 $10,034 4.73%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 82 $21,140,000 $257,805 $9,027 4.58%
Outside of Metro Areas 134 $20,760,000 $154,925 $7,445 4.69%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 110 $19,820,000 $180,182 $9,973 4.83%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 102 $18,960,000 $185,882 $7,725 4.73%
ALBUQUERQUE, NM (FHA|USDA|VA) 72 $16,180,000 $224,722 $6,219 4.36%
MIDLAND, TX (FHA|USDA|VA) 63 $15,235,000 $241,825 $11,355 4.59%
TUSCALOOSA, AL (FHA|USDA|VA) 74 $12,810,000 $173,108 $7,663 4.87%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 69 $12,745,000 $184,710 $8,306 4.89%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 47 $10,955,000 $233,085 $13,096 4.42%
Hobbs, NM (FHA|USDA|VA) 45 $9,645,000 $214,333 $8,872 4.79%
OKLAHOMA CITY, OK (FHA|USDA|VA) 51 $7,755,000 $152,059 $8,037 4.58%
LAFAYETTE, LA (FHA|USDA|VA) 48 $7,550,000 $157,292 $7,303 4.78%
KANSAS CITY, MO-KS (FHA|USDA|VA) 37 $7,445,000 $201,216 $7,754 4.69%
ODESSA, TX (FHA|USDA|VA) 39 $7,385,000 $189,359 $10,631 4.94%
BATON ROUGE, LA (FHA|USDA|VA) 35 $7,075,000 $202,143 $8,386 4.68%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 39 $6,745,000 $172,949 $7,314 4.91%
KNOXVILLE, TN (FHA|USDA|VA) 40 $6,550,000 $163,750 $7,418 4.82%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 39 $6,435,000 $165,000 $8,167 5.10%
COLUMBIA, SC (FHA|USDA|VA) 26 $4,800,000 $184,615 $7,235 4.46%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 21 $4,765,000 $226,905 $9,615 4.34%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 32 $4,710,000 $147,188 $6,445 4.73%
EL PASO, TX (FHA|USDA|VA) 34 $4,580,000 $134,706 $8,681 4.97%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 29 $4,535,000 $156,379 $6,546 4.89%
Mount Pleasant, TX (FHA|USDA|VA) 33 $4,515,000 $136,818 $8,103 4.61%
LOUISVILLE, KY (FHA|USDA|VA) 21 $3,975,000 $189,286 $6,352 4.87%
SPARTANBURG, SC (FHA|USDA|VA) 23 $3,575,000 $155,435 $7,059 4.74%
MOBILE, AL (FHA|USDA|VA) 24 $3,540,000 $147,500 $6,474 4.53%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 19 $3,425,000 $180,263 $7,161 4.73%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 23 $3,235,000 $140,652 $9,208 4.48%
TULSA, OK (FHA|USDA|VA) 15 $2,945,000 $196,333 $8,867 4.42%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 15 $2,525,000 $168,333 $6,709 4.32%
Carlsbad-Artesia, NM (FHA|USDA|VA) 11 $2,515,000 $228,636 $8,278 4.78%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 21 $2,465,000 $117,381 $5,244 4.72%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 15 $2,375,000 $158,333 $8,774 5.15%
HUNTSVILLE, AL (FHA|USDA|VA) 13 $2,245,000 $172,692 $8,473 4.76%
London, KY (FHA|USDA|VA) 14 $1,900,000 $135,714 $5,932 4.28%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 12 $1,890,000 $157,500 $7,750 4.54%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 9 $1,875,000 $208,333 $11,773 5.05%
Talladega-Sylacauga, AL (FHA|USDA|VA) 11 $1,835,000 $166,818 $7,180 4.69%
COLORADO SPRINGS, CO (FHA|USDA|VA) 6 $1,760,000 $293,333 $8,393 4.48%
GREELEY, CO (FHA|USDA|VA) 9 $1,755,000 $195,000 $6,880 3.15%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 12 $1,660,000 $138,333 $6,435 4.26%
HAMMOND, LA (FHA|USDA|VA) 11 $1,655,000 $150,455 $7,428 4.78%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 9 $1,595,000 $177,222 $6,945 4.78%
LUBBOCK, TX (FHA|USDA|VA) 9 $1,495,000 $166,111 $9,539 5.30%
PORT ST. LUCIE, FL (FHA|USDA|VA) 6 $1,440,000 $240,000 $12,919 5.22%
FORT WAYNE, IN (FHA|USDA|VA) 8 $1,290,000 $161,250 $7,085 5.63%
Opelousas, LA (FHA|USDA|VA) 7 $1,195,000 $170,714 $7,540 4.61%
Andrews, TX (FHA|USDA|VA) 5 $1,145,000 $229,000 $12,529 5.48%
Del Rio, TX (FHA|USDA|VA) 6 $1,140,000 $190,000 $10,688 4.79%
VICTORIA, TX (FHA|USDA|VA) 5 $1,125,000 $225,000 $13,105 4.35%
CORPUS CHRISTI, TX (FHA|USDA|VA) 5 $1,115,000 $223,000 $11,626 4.35%
Montrose, CO (FHA|USDA|VA) 7 $1,115,000 $159,286 $6,740 4.21%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 6 $1,110,000 $185,000 $8,107 4.50%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 7 $1,085,000 $155,000 $4,865 4.75%
SHERMAN-DENISON, TX (FHA|USDA|VA) 6 $1,070,000 $178,333 $9,217 4.53%
SAGINAW, MI (FHA|USDA|VA) 6 $980,000 $163,333 $8,198 4.24%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 7 $975,000 $139,286 $6,744 4.81%
TYLER, TX (FHA|USDA|VA) 6 $960,000 $160,000 $7,490 5.28%
MONROE, LA (FHA|USDA|VA) 5 $915,000 $183,000 $6,142 5.06%
GRAND JUNCTION, CO (FHA|USDA|VA) 7 $905,000 $129,286 $6,737 3.60%
Tullahoma-Manchester, TN (FHA|USDA|VA) 6 $900,000 $150,000 $8,321 4.79%
Muscatine, IA (FHA|USDA|VA) 8 $900,000 $112,500 $4,377 4.66%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 5 $825,000 $165,000 $7,594 5.30%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 5 $815,000 $163,000 $8,773 4.46%
JACKSON, TN (FHA|USDA|VA) 6 $780,000 $130,000 $7,564 4.78%
Athens, TX (FHA|USDA|VA) 4 $770,000 $192,500 $8,792 4.74%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 4 $690,000 $172,500 $7,170 4.79%
FORT COLLINS, CO (FHA|USDA|VA) 2 $650,000 $325,000 $9,388 3.92%
Gainesville, TX (FHA|USDA|VA) 4 $650,000 $162,500 $9,878 3.73%
Sevierville, TN (FHA|USDA|VA) 4 $630,000 $157,500 $6,762 5.06%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 5 $625,000 $125,000 $8,426 4.59%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $625,000 $208,333 $8,014 3.83%
OWENSBORO, KY (FHA|USDA|VA) 3 $535,000 $178,333 $7,848 5.23%
Paducah, KY-IL (FHA|USDA|VA) 4 $520,000 $130,000 $7,100 5.17%
Warrensburg, MO (FHA|USDA|VA) 2 $510,000 $255,000 $10,624 4.44%
GADSDEN, AL (FHA|USDA|VA) 4 $510,000 $127,500 $6,192 4.34%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $495,000 $165,000 $8,248 5.13%
Silver City, NM (FHA|USDA|VA) 3 $485,000 $161,667 $6,984 4.79%
WACO, TX (FHA|USDA|VA) 3 $465,000 $155,000 $8,856 4.54%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $465,000 $155,000 $7,333 4.32%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 2 $460,000 $230,000 $9,468 4.06%
MORRISTOWN, TN (FHA|USDA|VA) 3 $455,000 $151,667 $5,956 4.92%
Athens, TN (FHA|USDA|VA) 3 $455,000 $151,667 $7,666 5.17%
Big Spring, TX (FHA|USDA|VA) 2 $450,000 $225,000 $9,232 5.38%
Greeneville, TN (FHA|USDA|VA) 4 $400,000 $100,000 $6,271 4.19%
JOHNSON CITY, TN (FHA|USDA|VA) 3 $395,000 $131,667 $6,839 5.54%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $380,000 $190,000 $9,716 4.06%
Lawrenceburg, TN (FHA|USDA|VA) 2 $380,000 $190,000 $8,736 4.94%
DOTHAN, AL (FHA|USDA|VA) 2 $380,000 $190,000 $6,142 4.75%
Winona, MN (FHA|USDA|VA) 3 $365,000 $121,667 $5,128 4.02%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 3 $365,000 $121,667 $8,050 4.31%
CLEVELAND, TN (FHA|USDA|VA) 2 $360,000 $180,000 $11,037 5.19%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 2 $360,000 $180,000 $7,679 4.13%
Shelbyville, TN (FHA|USDA|VA) 1 $355,000 $355,000 $10,266 5.50%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 1 $345,000 $345,000 $10,330 3.55%
Dyersburg, TN (FHA|USDA|VA) 2 $330,000 $165,000 $8,793 5.56%
Sturgis, MI (FHA|USDA|VA) 2 $320,000 $160,000 $6,239 4.87%
Martin, TN (FHA|USDA|VA) 2 $320,000 $160,000 $7,773 4.88%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $315,000 $315,000 $13,119 5.13%
Greenwood, SC (FHA|USDA|VA) 3 $315,000 $105,000 $6,037 4.93%
Union, SC (FHA|USDA|VA) 2 $310,000 $155,000 $8,325 5.15%
EVANSVILLE, IN-KY (FHA|USDA|VA) 2 $310,000 $155,000 $6,928 4.88%
Bluffton, IN (FHA|USDA|VA) 2 $310,000 $155,000 $4,655 3.88%
Stephenville, TX (FHA|USDA|VA) 1 $305,000 $305,000 $15,912 3.95%
Warsaw, IN (FHA|USDA|VA) 2 $300,000 $150,000 $5,858 4.75%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $295,000 $295,000 $10,042 3.88%
Glasgow, KY (FHA|USDA|VA) 2 $290,000 $145,000 $6,469 5.13%
Decatur, IN (FHA|USDA|VA) 2 $290,000 $145,000 $5,778 4.41%
DeRidder, LA (FHA|USDA|VA) 1 $285,000 $285,000 $12,205 4.13%
Bonham, TX (FHA|USDA|VA) 2 $280,000 $140,000 $9,229 4.47%
Sulphur Springs, TX (FHA|USDA|VA) 2 $270,000 $135,000 $9,176 4.63%
MIDLAND, MI (FHA|USDA|VA) 2 $270,000 $135,000 $7,716 4.94%
Mineral Wells, TX (FHA|USDA|VA) 1 $265,000 $265,000 $17,247 5.60%
Crossville, TN (FHA|USDA|VA) 2 $260,000 $130,000 $6,566 5.35%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $260,000 $130,000 $8,672 4.71%
CEDAR RAPIDS, IA (FHA|USDA|VA) 2 $260,000 $130,000 $5,725 4.31%
Natchitoches, LA (FHA|USDA|VA) 1 $255,000 $255,000 $10,149 5.75%
Logansport, IN (FHA|USDA|VA) 1 $255,000 $255,000 $9,766 3.63%
Las Vegas, NM (FHA|USDA|VA) 1 $255,000 $255,000 $6,085 3.88%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $250,000 $125,000 $5,465 4.04%
Union City, TN (FHA|USDA|VA) 3 $245,000 $81,667 $5,301 4.94%
Atmore, AL (FHA|USDA|VA) 2 $240,000 $120,000 $5,766 5.16%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $235,000 $235,000 $12,310 4.05%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $235,000 $235,000 $8,543 3.88%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 2 $230,000 $115,000 $7,973 4.94%
Danville, KY (FHA|USDA|VA) 2 $230,000 $115,000 $5,566 4.06%
CaƱon City, CO (FHA|USDA|VA) 2 $230,000 $115,000 $8,739 2.50%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $225,000 $225,000 $11,196 5.20%
Ozark, AL (FHA|USDA|VA) 1 $225,000 $225,000 $8,950 3.50%
Jacksonville, TX (FHA|USDA|VA) 1 $225,000 $225,000 $11,431 3.38%
MANKATO, MN (FHA|USDA|VA) 1 $225,000 $225,000 $6,892 3.90%
Wabash, IN (FHA|USDA|VA) 2 $210,000 $105,000 $4,476 4.31%
Kendallville, IN (FHA|USDA|VA) 1 $205,000 $205,000 $7,788 4.25%
McMinnville, TN (FHA|USDA|VA) 1 $205,000 $205,000 $10,936 4.25%
Marion, IN (FHA|USDA|VA) 2 $200,000 $100,000 $7,209 4.38%
Lewisburg, TN (FHA|USDA|VA) 1 $195,000 $195,000 $9,114 5.63%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $190,000 $95,000 $6,251 5.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $185,000 $185,000 $9,959 4.55%
Ada, OK (FHA|USDA|VA) 1 $185,000 $185,000 $6,809 4.25%
Holland, MI (FHA|USDA|VA) 1 $185,000 $185,000 $5,644 4.26%
Bedford, IN (FHA|USDA|VA) 1 $175,000 $175,000 $3,468 4.38%
Georgetown, SC (FHA|USDA|VA) 1 $175,000 $175,000 $10,095 5.13%
Bay City, TX (FHA|USDA|VA) 1 $175,000 $175,000 $13,680 3.75%
Madisonville, KY (FHA|USDA|VA) 1 $175,000 $175,000 $8,511 5.63%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $175,000 $175,000 $7,887 3.99%
OCALA, FL (FHA|USDA|VA) 1 $175,000 $175,000 $7,603 5.13%
Minden, LA (FHA|USDA|VA) 1 $165,000 $165,000 $7,764 4.99%
Mount Sterling, KY (FHA|USDA|VA) 1 $165,000 $165,000 $10,403 5.13%
LAS CRUCES, NM (FHA|USDA|VA) 1 $165,000 $165,000 $4,754 4.05%
North Vernon, IN (FHA|USDA|VA) 1 $165,000 $165,000 $8,722 4.63%
ABILENE, TX (FHA|USDA|VA) 1 $165,000 $165,000 $8,270 3.99%
Greensburg, IN (FHA|USDA|VA) 1 $165,000 $165,000 $4,805 4.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $165,000 $165,000 $11,515 5.63%
SANTA FE, NM (FHA|USDA|VA) 1 $155,000 $155,000 $3,830 4.63%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $155,000 $155,000 $6,378 5.20%
DECATUR, AL (FHA|USDA|VA) 1 $155,000 $155,000 $7,322 5.20%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $155,000 $155,000 $7,433 5.63%
Palestine, TX (FHA|USDA|VA) 1 $155,000 $155,000 $6,923 5.13%
SAN ANGELO, TX (FHA|USDA|VA) 1 $155,000 $155,000 $6,806 4.05%
NILES, MI (FHA|USDA|VA) 1 $145,000 $145,000 $7,100 4.13%
Alexander City, AL (FHA|USDA|VA) 1 $145,000 $145,000 $6,839 5.63%
Mayfield, KY (FHA|USDA|VA) 1 $145,000 $145,000 $7,078 5.50%
Paragould, AR (FHA|USDA|VA) 1 $145,000 $145,000 $4,337 5.13%
SUMTER, SC (FHA|USDA|VA) 1 $135,000 $135,000 $7,971 4.30%
FLORENCE, SC (FHA|USDA|VA) 1 $135,000 $135,000 $6,466 5.00%
Bennettsville, SC (FHA|USDA|VA) 1 $135,000 $135,000 $7,544 5.25%
PANAMA CITY, FL (FHA|USDA|VA) 1 $135,000 $135,000 $7,550 5.13%
Arcadia, FL (FHA|USDA|VA) 1 $135,000 $135,000 $7,050 4.13%
PUEBLO, CO (FHA|USDA|VA) 2 $130,000 $65,000 $4,848 2.68%
Cullman, AL (FHA|USDA|VA) 1 $125,000 $125,000 $7,891 3.63%
Seneca, SC (FHA|USDA|VA) 1 $115,000 $115,000 $5,711 4.13%
Portsmouth, OH (FHA|USDA|VA) 1 $115,000 $115,000 $6,598 5.00%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $115,000 $115,000 $5,810 4.38%
Cambridge, OH (FHA|USDA|VA) 1 $115,000 $115,000 $4,394 4.13%
Paris, TX (FHA|USDA|VA) 1 $115,000 $115,000 $9,019 3.99%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $105,000 $105,000 $1,756 5.20%
Somerset, KY (FHA|USDA|VA) 1 $105,000 $105,000 $4,173 3.99%
BAY CITY, MI (FHA|USDA|VA) 1 $105,000 $105,000 $6,833 4.63%
Levelland, TX (FHA|USDA|VA) 1 $105,000 $105,000 $10,705 5.63%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $105,000 $105,000 $8,473 4.75%
Plymouth, IN (FHA|USDA|VA) 1 $95,000 $95,000 $4,470 4.88%
Middlesborough, KY (FHA|USDA|VA) 1 $95,000 $95,000 $6,979 5.13%
Cookeville, TN (FHA|USDA|VA) 1 $95,000 $95,000 $5,502 4.63%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $85,000 $85,000 $3,974 3.63%
Granbury, TX (FHA|USDA|VA) 1 $85,000 $85,000 $4,951 3.99%
Seymour, IN (FHA|USDA|VA) 1 $85,000 $85,000 $4,479 4.00%
AMARILLO, TX (FHA|USDA|VA) 1 $75,000 $75,000 $11,251 5.63%
Uvalde, TX (FHA|USDA|VA) 1 $75,000 $75,000 $7,908 5.63%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $75,000 $75,000 $3,214 4.95%
JACKSON, MS (FHA|USDA|VA) 1 $65,000 $65,000 $3,541 5.20%
Auburn, IN (FHA|USDA|VA) 1 $65,000 $65,000 $2,963 5.38%
KOKOMO, IN (FHA|USDA|VA) 1 $65,000 $65,000 $4,581 4.75%
Huntington, IN (FHA|USDA|VA) 1 $65,000 $65,000 $4,597 5.50%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $65,000 $65,000 $3,889 5.00%
Southwest Funding Lp's top markets include Dallas, Houston, Austin, Denver, and San Antonio 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)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    FHA 1,730 $314,090,000 $181,555 $11,077 4.74%
    Conventional 1,580 $334,770,000 $211,880 $8,421 4.61%
    VA 323 $71,805,000 $222,307 $10,517 4.61%
    USDA 177 $24,285,000 $137,203 $6,434 4.32%

    For 2019, Southwest Funding Lp's most frequently originated type of loan was FHA, with 1,730 originations. Their 2nd most popular type was Conventional, with 1,580 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,244 $625,850,000 $192,925 $9,827 4.70%
    Refi 289 $64,065,000 $221,678 $8,907 4.10%
    Cash Out Refi 271 $54,085,000 $199,576 $9,130 4.72%
    Other 5 $945,000 $189,000 $14,871 3.80%
    NA 1 $5,000 $5,000 $175 0.00%

    For 2019, Southwest Funding Lp's most frequently cited loan purpose was Home Purchase, with 3,244 originations. The 2nd most popular reason was Refi, with 289 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 3,665 $719,925,000 $196,432 $9,789 4.68%
    15 Year 112 $20,150,000 $179,911 $7,830 3.88%
    20 Year 18 $2,960,000 $164,444 $7,363 4.80%
    Other 11 $1,475,000 $134,091 $8,246 4.11%
    10 Year 4 $440,000 $110,000 $4,055 3.25%

    For 2019, Southwest Funding Lp's most frequently cited loan duration was 30 Year, with 3,665 originations. The 2nd most popular length was 15 Year, with 112 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,886 $563,180,000 $195,142
    $<1k 763 $155,415,000 $203,689
    $2k-3k 33 $5,095,000 $154,394
    $4k-5k 21 $6,325,000 $301,190
    $3k-4k 19 $3,565,000 $187,632
    $5k+ 9 $2,505,000 $278,333

    Southwest Funding Lp's average total fees were $9,789, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,886 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,641 $328,375,000 $200,107
    5-6% 1,191 $204,865,000 $172,011
    3-4% 839 $192,335,000 $229,243
    6-7% 70 $13,030,000 $186,143
    <2.5% 42 $560,000 $13,333
    7-8% 18 $3,030,000 $168,333
    2.5-3% 4 $1,620,000 $405,000
    Over 8% 4 $1,050,000 $262,500

    During 2019, Southwest Funding Lp's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 4-5%, with 1,641 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,913 $293,525,000 $153,437 $8,139 4.79%
    $200k-400k 1,407 $368,275,000 $261,745 $12,466 4.56%
    $100,000 or less 371 $27,335,000 $73,679 $5,407 4.46%
    $400k-600k 116 $52,940,000 $456,379 $14,936 4.28%
    $600k-1MM 2 $1,600,000 $800,000 $17,625 4.81%
    $1MM+ 1 $1,275,000 $1,275,000 $48,295 4.00%

    2019 saw Southwest Funding Lp place emphasis on $100k-200k loans with 1,913 originations, totaling $293,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,307 $240,295,000 $183,852 $10,354 4.68%
    $50k or less 1,041 $142,185,000 $136,585 $7,454 4.72%
    $75k-100k 692 $151,040,000 $218,266 $10,128 4.67%
    $100k-150k 507 $128,535,000 $253,521 $10,786 4.56%
    $150k-250k 217 $65,005,000 $299,562 $11,883 4.40%
    $250k+ 45 $17,705,000 $393,444 $14,106 4.61%

    Southwest Funding Lp lent most frequently to those with incomes in the $50k-75k range, with 1,307 originations. The second most popular income band? $50k or less, with 1,041 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 598 $113,490,000 $189,783 $8,640 4.67%
    50-60% 529 $108,245,000 $204,622 $14,643 4.63%
    20-30% 468 $89,850,000 $191,987 $8,340 4.57%
    49% 190 $38,020,000 $200,105 $9,064 4.57%
    42% 171 $34,065,000 $199,211 $8,798 4.76%
    44% 170 $33,490,000 $197,000 $8,853 4.62%
    43% 170 $33,830,000 $199,000 $9,716 4.69%
    40% 168 $34,030,000 $202,560 $8,946 4.83%
    41% 167 $31,825,000 $190,569 $9,122 4.88%
    45% 154 $29,850,000 $193,831 $9,213 4.68%
    48% 137 $27,425,000 $200,182 $9,990 4.81%
    47% 135 $28,215,000 $209,000 $10,276 4.65%
    39% 131 $24,425,000 $186,450 $8,436 4.60%
    38% 121 $23,365,000 $193,099 $10,037 4.74%
    37% 121 $21,865,000 $180,702 $8,554 4.70%
    46% 120 $23,280,000 $194,000 $9,248 4.60%
    <20% 118 $22,340,000 $189,322 $7,981 4.36%
    36% 117 $22,145,000 $189,274 $8,437 4.69%
    >60% 10 $2,720,000 $272,000 $12,553 4.17%

    Southwest Funding Lp lent most frequently to those with DTI ratios of 30-36%, with 598 originations. The next most common DTI ratio? 50-60%, with 529 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,645 $517,085,000 $195,495 $9,044 4.64%
    Black 759 $144,745,000 $190,705 $12,137 4.79%
    Not provided 313 $62,645,000 $200,144 $9,486 4.53%
    Asian 70 $15,190,000 $217,000 $9,083 4.49%
    Native Hawaiian or Islander 12 $2,930,000 $244,167 $9,950 4.03%
    American Indian 11 $2,355,000 $214,091 $11,429 4.66%

    Approval Rates

    Total approvals of all applications
    97.86%

    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
    87.51%

    Southwest Funding Lp has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1993.0 1 $135,000 $135,000
    NA 3,809 $744,815,000 $195,541

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 3,810 $744,950,000 $195,525

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $3,190,000 $113,929 $8,189 4.49%
    40-60% 83 $14,665,000 $176,687 $9,235 4.40%
    60-80% 520 $106,820,000 $205,423 $8,656 4.57%
    80-100% 3,018 $594,840,000 $197,097 $9,928 4.75%
    Over 100% 115 $24,375,000 $211,957 $11,739 4.52%
    Under 20% 45 $965,000 $21,444 $993 0.36%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SOUTHWEST FUNDING, LP FHA mortgage Closing on a mortgage 1 100.0%