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 small mortgage company specializing in Home Purchase and Refi 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, New Orleans, and Houston among others. We have data for 232 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

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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

5,131

Origination Dollar Volume (All Markets)

$1,113,485,000

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) 1,094 $264,650,000 $241,910 $12,371 3.46%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 357 $89,925,000 $251,891 $10,288 3.46%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 217 $56,945,000 $262,419 $11,220 3.48%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 243 $45,765,000 $188,333 $9,407 3.78%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 183 $42,985,000 $234,891 $10,823 3.56%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 166 $33,690,000 $202,952 $9,383 3.71%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 126 $33,530,000 $266,111 $7,112 2.72%
Outside of Metro Areas 159 $32,555,000 $204,748 $8,495 3.63%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 109 $30,175,000 $276,835 $8,813 3.59%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 138 $28,370,000 $205,580 $7,392 3.72%
LONGVIEW, TX (FHA|USDA|VA) 146 $28,180,000 $193,014 $9,108 3.65%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 136 $27,070,000 $199,044 $9,257 4.06%
LAREDO, TX (FHA|USDA|VA) 118 $23,760,000 $201,356 $9,118 3.57%
TUSCALOOSA, AL (FHA|USDA|VA) 110 $23,150,000 $210,455 $7,954 3.62%
ALBUQUERQUE, NM (FHA|USDA|VA) 53 $16,665,000 $314,434 $6,988 3.24%
OKLAHOMA CITY, OK (FHA|USDA|VA) 76 $15,100,000 $198,684 $8,183 3.38%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 71 $13,395,000 $188,662 $8,713 3.95%
LAFAYETTE, LA (FHA|USDA|VA) 69 $12,385,000 $179,493 $7,960 3.85%
LOUISVILLE, KY (FHA|USDA|VA) 59 $12,215,000 $207,034 $5,927 3.60%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 67 $11,895,000 $177,537 $8,689 4.04%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 57 $11,075,000 $194,298 $8,696 3.86%
Mount Pleasant, TX (FHA|USDA|VA) 67 $11,055,000 $165,000 $8,293 3.47%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 55 $10,435,000 $189,727 $6,104 3.54%
HUNTSVILLE, AL (FHA|USDA|VA) 44 $9,500,000 $215,909 $6,398 3.31%
HOUMA-THIBODAUX, LA (FHA|USDA|VA) 55 $9,395,000 $170,818 $8,287 3.66%
Hobbs, NM (FHA|USDA|VA) 46 $9,150,000 $198,913 $8,788 3.77%
MIDLAND, TX (FHA|USDA|VA) 38 $9,080,000 $238,947 $9,902 3.76%
BATON ROUGE, LA (FHA|USDA|VA) 42 $8,650,000 $205,952 $7,759 3.67%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 39 $7,715,000 $197,821 $6,859 3.74%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 47 $7,265,000 $154,574 $5,544 3.72%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 38 $7,000,000 $184,211 $5,912 3.46%
TULSA, OK (FHA|USDA|VA) 38 $7,000,000 $184,211 $8,075 3.49%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 25 $6,385,000 $255,400 $11,717 3.54%
SPARTANBURG, SC (FHA|USDA|VA) 34 $6,130,000 $180,294 $7,812 4.16%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 31 $5,975,000 $192,742 $8,451 3.76%
EL PASO, TX (FHA|USDA|VA) 33 $5,795,000 $175,606 $10,566 3.69%
VICTORIA, TX (FHA|USDA|VA) 26 $5,300,000 $203,846 $8,354 3.77%
COLUMBIA, SC (FHA|USDA|VA) 29 $5,275,000 $181,897 $7,551 3.86%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 35 $5,225,000 $149,286 $7,101 3.64%
Carlsbad-Artesia, NM (FHA|USDA|VA) 19 $4,105,000 $216,053 $7,390 3.86%
COLORADO SPRINGS, CO (FHA|USDA|VA) 15 $3,945,000 $263,000 $8,137 3.04%
GREELEY, CO (FHA|USDA|VA) 16 $3,930,000 $245,625 $8,209 2.61%
ODESSA, TX (FHA|USDA|VA) 18 $3,780,000 $210,000 $10,107 4.10%
CORPUS CHRISTI, TX (FHA|USDA|VA) 16 $3,630,000 $226,875 $10,394 3.57%
KNOXVILLE, TN (FHA|USDA|VA) 22 $3,470,000 $157,727 $6,241 4.16%
MONROE, LA (FHA|USDA|VA) 15 $3,245,000 $216,333 $7,218 3.67%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 22 $2,950,000 $134,091 $9,854 3.81%
HAMMOND, LA (FHA|USDA|VA) 13 $2,685,000 $206,538 $8,727 3.92%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 16 $2,490,000 $155,625 $6,844 3.59%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 5 $2,405,000 $481,000 $8,679 2.96%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 10 $2,350,000 $235,000 $10,925 3.36%
TYLER, TX (FHA|USDA|VA) 10 $2,140,000 $214,000 $8,796 3.64%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 9 $2,105,000 $233,889 $11,687 3.54%
FORT WAYNE, IN (FHA|USDA|VA) 13 $2,055,000 $158,077 $5,870 3.75%
MOBILE, AL (FHA|USDA|VA) 15 $2,025,000 $135,000 $6,835 4.10%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 7 $1,935,000 $276,429 $15,881 4.43%
DECATUR, AL (FHA|USDA|VA) 9 $1,855,000 $206,111 $6,374 3.18%
GADSDEN, AL (FHA|USDA|VA) 9 $1,655,000 $183,889 $7,733 3.77%
MONTGOMERY, AL (FHA|USDA|VA) 6 $1,490,000 $248,333 $6,751 3.69%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 11 $1,405,000 $127,727 $5,690 4.32%
SHERMAN-DENISON, TX (FHA|USDA|VA) 7 $1,365,000 $195,000 $8,943 3.45%
LUBBOCK, TX (FHA|USDA|VA) 5 $1,215,000 $243,000 $11,602 3.62%
Athens, TX (FHA|USDA|VA) 5 $1,195,000 $239,000 $10,173 3.54%
Opelousas, LA (FHA|USDA|VA) 7 $1,175,000 $167,857 $7,098 3.93%
Gainesville, TX (FHA|USDA|VA) 5 $1,075,000 $215,000 $8,728 4.20%
FORT COLLINS, CO (FHA|USDA|VA) 3 $1,065,000 $355,000 $9,355 2.75%
GAINESVILLE, FL (FHA|USDA|VA) 6 $930,000 $155,000 $124,818 3.42%
Talladega-Sylacauga, AL (FHA|USDA|VA) 4 $920,000 $230,000 $6,950 3.56%
PORT ST. LUCIE, FL (FHA|USDA|VA) 4 $920,000 $230,000 $18,392 3.78%
SAGINAW, MI (FHA|USDA|VA) 6 $920,000 $153,333 $8,449 3.96%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 4 $890,000 $222,500 $12,623 3.22%
PUNTA GORDA, FL (FHA|USDA|VA) 3 $885,000 $295,000 $13,043 3.33%
CLEVELAND, TN (FHA|USDA|VA) 7 $875,000 $125,000 $5,964 3.61%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $865,000 $288,333 $7,463 4.10%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 5 $865,000 $173,000 $10,597 3.15%
Muscatine, IA (FHA|USDA|VA) 6 $840,000 $140,000 $5,942 4.02%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 5 $755,000 $151,000 $5,103 3.70%
PANAMA CITY, FL (FHA|USDA|VA) 4 $750,000 $187,500 $7,274 4.00%
Del Rio, TX (FHA|USDA|VA) 6 $750,000 $125,000 $7,174 4.03%
WACO, TX (FHA|USDA|VA) 4 $740,000 $185,000 $9,775 3.66%
FLINT, MI (FHA|USDA|VA) 5 $735,000 $147,000 $8,300 3.65%
Granbury, TX (FHA|USDA|VA) 3 $725,000 $241,667 $9,473 4.04%
Alexander City, AL (FHA|USDA|VA) 2 $720,000 $360,000 $10,405 3.31%
Fort Morgan, CO (FHA|USDA|VA) 4 $720,000 $180,000 $7,472 2.69%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $710,000 $177,500 $6,969 3.97%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 2 $710,000 $355,000 $11,134 3.69%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 5 $705,000 $141,000 $7,779 3.73%
Martin, TN (FHA|USDA|VA) 5 $695,000 $139,000 $6,346 3.73%
Shelbyville, TN (FHA|USDA|VA) 4 $690,000 $172,500 $7,495 4.17%
Tullahoma-Manchester, TN (FHA|USDA|VA) 4 $690,000 $172,500 $8,444 4.06%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 3 $665,000 $221,667 $7,750 3.67%
Minden, LA (FHA|USDA|VA) 4 $660,000 $165,000 $8,246 4.41%
MIDLAND, MI (FHA|USDA|VA) 3 $655,000 $218,333 $8,407 4.04%
Greensburg, IN (FHA|USDA|VA) 4 $650,000 $162,500 $6,535 4.34%
COLUMBUS, OH (FHA|USDA|VA) 2 $640,000 $320,000 $13,435 3.19%
Fredericksburg, TX (FHA|USDA|VA) 2 $630,000 $315,000 $9,930 3.23%
Kendallville, IN (FHA|USDA|VA) 3 $625,000 $208,333 $8,510 4.13%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $620,000 $310,000 $13,967 3.75%
Atmore, AL (FHA|USDA|VA) 6 $600,000 $100,000 $5,181 4.35%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 3 $585,000 $195,000 $7,195 3.67%
MORRISTOWN, TN (FHA|USDA|VA) 4 $580,000 $145,000 $7,112 4.00%
Rockport, TX (FHA|USDA|VA) 2 $580,000 $290,000 $13,492 3.44%
Cullman, AL (FHA|USDA|VA) 4 $570,000 $142,500 $5,547 4.09%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 3 $565,000 $188,333 $7,734 3.63%
Port Lavaca, TX (FHA|USDA|VA) 2 $550,000 $275,000 $10,555 4.00%
Stillwater, OK (FHA|USDA|VA) 4 $550,000 $137,500 $7,841 3.53%
ROCHESTER, MN (FHA|USDA|VA) 3 $545,000 $181,667 $6,247 3.25%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 4 $530,000 $132,500 $7,872 4.09%
GRAND JUNCTION, CO (FHA|USDA|VA) 3 $525,000 $175,000 $4,977 1.96%
Albertville, AL (FHA|USDA|VA) 3 $525,000 $175,000 $5,630 3.16%
Union, SC (FHA|USDA|VA) 4 $500,000 $125,000 $5,789 4.50%
Sevierville, TN (FHA|USDA|VA) 3 $495,000 $165,000 $7,531 4.04%
JACKSONVILLE, FL (FHA|USDA|VA) 2 $480,000 $240,000 $10,533 3.63%
McAlester, OK (FHA|USDA|VA) 3 $475,000 $158,333 $7,441 4.00%
Bonham, TX (FHA|USDA|VA) 3 $475,000 $158,333 $7,974 3.58%
Ada, OK (FHA|USDA|VA) 3 $465,000 $155,000 $8,602 4.50%
Shawnee, OK (FHA|USDA|VA) 3 $455,000 $151,667 $7,405 3.54%
WICHITA, KS (FHA|USDA|VA) 2 $450,000 $225,000 $4,425 3.13%
Seneca, SC (FHA|USDA|VA) 3 $435,000 $145,000 $6,909 4.46%
Stephenville, TX (FHA|USDA|VA) 2 $430,000 $215,000 $8,714 4.00%
Athens, TN (FHA|USDA|VA) 3 $425,000 $141,667 $8,205 4.50%
Durango, CO (FHA|USDA|VA) 1 $425,000 $425,000 $15,112 4.63%
JACKSON, TN (FHA|USDA|VA) 3 $405,000 $135,000 $7,737 4.21%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $400,000 $200,000 $9,238 3.19%
BAY CITY, MI (FHA|USDA|VA) 4 $390,000 $97,500 $7,131 4.22%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $385,000 $385,000 $17,526 3.25%
Winona, MN (FHA|USDA|VA) 2 $380,000 $190,000 $4,580 3.56%
Bardstown, KY (FHA|USDA|VA) 2 $380,000 $190,000 $6,201 3.63%
Cookeville, TN (FHA|USDA|VA) 2 $370,000 $185,000 $8,220 4.25%
FLORENCE, SC (FHA|USDA|VA) 3 $365,000 $121,667 $6,871 4.21%
BOULDER, CO (FHA|USDA|VA) 1 $355,000 $355,000 $6,689 3.38%
SUMTER, SC (FHA|USDA|VA) 2 $350,000 $175,000 $10,080 3.81%
Lewisburg, TN (FHA|USDA|VA) 2 $350,000 $175,000 $8,788 3.37%
Morgan City, LA (FHA|USDA|VA) 2 $350,000 $175,000 $9,552 4.00%
Mineral Wells, TX (FHA|USDA|VA) 2 $350,000 $175,000 $8,744 4.12%
Cullowhee, NC (FHA|USDA|VA) 1 $345,000 $345,000 $6,890 3.38%
AMARILLO, TX (FHA|USDA|VA) 1 $335,000 $335,000 $11,350 2.88%
Union City, TN (FHA|USDA|VA) 3 $335,000 $111,667 $5,945 4.19%
Russellville, AR (FHA|USDA|VA) 1 $335,000 $335,000 $16,083 3.50%
Eagle Pass, TX (FHA|USDA|VA) 1 $335,000 $335,000 $8,784 3.50%
Sulphur Springs, TX (FHA|USDA|VA) 2 $330,000 $165,000 $8,199 4.25%
Warsaw, IN (FHA|USDA|VA) 2 $330,000 $165,000 $5,067 4.81%
Corsicana, TX (FHA|USDA|VA) 2 $330,000 $165,000 $9,718 4.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $325,000 $325,000 $8,098 2.88%
Pecos, TX (FHA|USDA|VA) 1 $325,000 $325,000 $15,543 3.88%
Jasper, AL (FHA|USDA|VA) 1 $325,000 $325,000 $11,502 3.75%
North Vernon, IN (FHA|USDA|VA) 2 $320,000 $160,000 $6,327 3.50%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 2 $320,000 $160,000 $5,439 3.75%
Jasper, IN (FHA|USDA|VA) 2 $320,000 $160,000 $5,842 4.06%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 3 $315,000 $105,000 $5,946 4.58%
Natchitoches, LA (FHA|USDA|VA) 1 $315,000 $315,000 $15,483 4.00%
El Campo, TX (FHA|USDA|VA) 2 $310,000 $155,000 $10,184 3.94%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $305,000 $305,000 $15,932 4.25%
RACINE, WI (FHA|USDA|VA) 1 $285,000 $285,000 $10,763 4.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $280,000 $140,000 $6,609 4.38%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 2 $280,000 $140,000 $6,286 4.00%
Dyersburg, TN (FHA|USDA|VA) 2 $280,000 $140,000 $5,981 4.25%
Montrose, CO (FHA|USDA|VA) 1 $275,000 $275,000 $7,943 2.38%
SAN ANGELO, TX (FHA|USDA|VA) 2 $260,000 $130,000 $10,578 3.68%
Auburn, IN (FHA|USDA|VA) 2 $260,000 $130,000 $5,980 4.00%
Las Vegas, NM (FHA|USDA|VA) 1 $255,000 $255,000 $8,422 3.25%
Jacksonville, TX (FHA|USDA|VA) 1 $255,000 $255,000 $11,968 3.50%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $255,000 $255,000 $12,430 4.13%
CaƱon City, CO (FHA|USDA|VA) 1 $245,000 $245,000 $7,455 2.88%
Iron Mountain, MI-WI (FHA|USDA|VA) 1 $245,000 $245,000 $7,131 3.50%
OCALA, FL (FHA|USDA|VA) 1 $245,000 $245,000 $12,859 3.75%
Crossville, TN (FHA|USDA|VA) 2 $240,000 $120,000 $5,987 3.81%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $235,000 $235,000 $9,604 4.75%
Newberry, SC (FHA|USDA|VA) 1 $235,000 $235,000 $11,083 5.55%
Brownwood, TX (FHA|USDA|VA) 1 $235,000 $235,000 $14,295 3.13%
IOWA CITY, IA (FHA|USDA|VA) 1 $235,000 $235,000 $6,542 3.25%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $230,000 $115,000 $8,077 4.63%
Andrews, TX (FHA|USDA|VA) 1 $225,000 $225,000 $12,630 3.75%
Dayton, TN (FHA|USDA|VA) 2 $220,000 $110,000 $5,871 3.50%
Scottsboro, AL (FHA|USDA|VA) 2 $220,000 $110,000 $5,965 3.94%
COLUMBUS, IN (FHA|USDA|VA) 1 $215,000 $215,000 $8,983 3.25%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $215,000 $215,000 $6,749 3.50%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $215,000 $215,000 $9,567 4.25%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $215,000 $215,000 $10,818 4.25%
LAWTON, OK (FHA|USDA|VA) 1 $195,000 $195,000 $5,490 3.75%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $195,000 $195,000 $6,337 3.50%
Richmond-Berea, KY (FHA|USDA|VA) 1 $195,000 $195,000 $5,526 2.88%
JOPLIN, MO (FHA|USDA|VA) 1 $185,000 $185,000 $11,848 4.75%
Tahlequah, OK (FHA|USDA|VA) 1 $185,000 $185,000 $6,829 3.38%
Durant, OK (FHA|USDA|VA) 1 $185,000 $185,000 $5,252 3.88%
Sturgis, MI (FHA|USDA|VA) 1 $185,000 $185,000 $5,628 3.88%
Hereford, TX (FHA|USDA|VA) 1 $185,000 $185,000 $10,948 3.75%
Greenwood, SC (FHA|USDA|VA) 2 $180,000 $90,000 $5,168 3.50%
Lake City, FL (FHA|USDA|VA) 1 $175,000 $175,000 $8,884 3.50%
OWENSBORO, KY (FHA|USDA|VA) 1 $175,000 $175,000 $5,675 3.38%
Madisonville, KY (FHA|USDA|VA) 1 $175,000 $175,000 $9,248 3.88%
EspaƱola, NM (FHA|USDA|VA) 1 $175,000 $175,000 $5,229 2.63%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $175,000 $175,000 $11,648 3.75%
Brainerd, MN (FHA|USDA|VA) 1 $165,000 $165,000 $4,514 2.88%
Lawrenceburg, TN (FHA|USDA|VA) 1 $165,000 $165,000 $8,043 3.88%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $165,000 $165,000 $8,198 3.25%
Sweetwater, TX (FHA|USDA|VA) 1 $165,000 $165,000 $5,571 2.88%
ST. CLOUD, MN (FHA|USDA|VA) 1 $165,000 $165,000 $4,736 2.88%
LAS CRUCES, NM (FHA|USDA|VA) 1 $165,000 $165,000 $3,646 2.75%
Ontario, OR-ID (FHA|USDA|VA) 1 $165,000 $165,000 $3,086 3.13%
BOWLING GREEN, KY (FHA|USDA|VA) 1 $155,000 $155,000 $8,229 4.63%
LAKE CHARLES, LA (FHA|USDA|VA) 1 $155,000 $155,000 $8,332 4.25%
Ruidoso, NM (FHA|USDA|VA) 1 $155,000 $155,000 $3,885 3.49%
Mayfield, KY (FHA|USDA|VA) 1 $155,000 $155,000 $7,536 4.50%
Enterprise, AL (FHA|USDA|VA) 1 $145,000 $145,000 $5,837 3.63%
Murray, KY (FHA|USDA|VA) 1 $145,000 $145,000 $8,132 2.88%
Sandusky, OH (FHA|USDA|VA) 1 $135,000 $135,000 $7,218 4.63%
Georgetown, SC (FHA|USDA|VA) 1 $135,000 $135,000 $7,355 3.25%
Helena, MT (FHA|USDA|VA) 1 $135,000 $135,000 $8,147 4.25%
Fort Payne, AL (FHA|USDA|VA) 1 $135,000 $135,000 $5,350 4.25%
Glasgow, KY (FHA|USDA|VA) 1 $135,000 $135,000 $7,697 4.50%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $135,000 $135,000 $8,106 2.50%
KOKOMO, IN (FHA|USDA|VA) 1 $125,000 $125,000 $3,575 3.25%
Paducah, KY-IL (FHA|USDA|VA) 1 $125,000 $125,000 $6,513 3.25%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $115,000 $115,000 $5,994 2.88%
Frankfort, IN (FHA|USDA|VA) 1 $115,000 $115,000 $5,223 3.50%
Orangeburg, SC (FHA|USDA|VA) 1 $115,000 $115,000 $7,818 4.00%
Palestine, TX (FHA|USDA|VA) 1 $115,000 $115,000 $6,810 3.00%
Seymour, IN (FHA|USDA|VA) 1 $115,000 $115,000 $4,950 4.25%
Bogalusa, LA (FHA|USDA|VA) 1 $115,000 $115,000 $6,932 4.13%
Forrest City, AR (FHA|USDA|VA) 1 $115,000 $115,000 $6,523 3.75%
Sterling, CO (FHA|USDA|VA) 1 $105,000 $105,000 $4,496 2.99%
Searcy, AR (FHA|USDA|VA) 1 $105,000 $105,000 $6,315 3.50%
Pampa, TX (FHA|USDA|VA) 1 $105,000 $105,000 $8,483 3.55%
Newport, TN (FHA|USDA|VA) 1 $105,000 $105,000 $5,841 4.75%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $105,000 $105,000 $3,622 3.63%
Logansport, IN (FHA|USDA|VA) 1 $95,000 $95,000 $5,543 4.00%
Decatur, IN (FHA|USDA|VA) 1 $95,000 $95,000 $5,709 3.63%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $85,000 $85,000 $5,354 4.75%
Levelland, TX (FHA|USDA|VA) 1 $85,000 $85,000 $14,712 4.75%
Corinth, MS (FHA|USDA|VA) 1 $85,000 $85,000 $6,492 4.50%
Snyder, TX (FHA|USDA|VA) 1 $65,000 $65,000 $3,912 3.99%
Southwest Funding Lp's top markets include Dallas, San Antonio, Austin, New Orleans, and Houston among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Louisiana (FHA|USDA|VA)
  • Tennessee (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
    Conventional 2,393 $564,115,000 $235,735 $9,279 3.40%
    FHA 2,044 $391,920,000 $191,742 $10,161 3.80%
    VA 506 $127,540,000 $252,055 $10,325 3.61%
    USDA 188 $29,910,000 $159,096 $7,110 3.93%

    For 2020, Southwest Funding Lp's most frequently originated type of loan was Conventional, with 2,393 originations. Their 2nd most popular type was FHA, with 2,044 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 3,528 $738,610,000 $209,357 $9,882 3.73%
    Refi 1,230 $296,570,000 $241,114 $8,931 3.22%
    Cash Out Refi 371 $77,985,000 $210,202 $9,877 3.62%
    Other 2 $320,000 $160,000 $13,400 3.25%

    For 2020, Southwest Funding Lp's most frequently cited loan purpose was Home Purchase, with 3,528 originations. The 2nd most popular reason was Refi, with 1,230 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 4,772 $1,043,310,000 $218,632 $9,841 3.64%
    15 Year 281 $54,105,000 $192,544 $7,146 3.01%
    20 Year 42 $8,770,000 $208,810 $6,762 3.20%
    Other 30 $6,200,000 $206,667 $8,316 3.14%
    10 Year 5 $1,085,000 $217,000 $7,168 2.83%
    3 Year 1 $15,000 $15,000 $450 0.00%

    For 2020, Southwest Funding Lp's most frequently cited loan duration was 30 Year, with 4,772 originations. The 2nd most popular length was 15 Year, with 281 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 4,036 $865,810,000 $214,522
    $<1k 835 $192,435,000 $230,461
    $2k-3k 77 $12,865,000 $167,078
    $3k-4k 66 $12,760,000 $193,333
    $4k-5k 34 $8,980,000 $264,118
    $5k+ 32 $12,440,000 $388,750

    Southwest Funding Lp's average total fees were $9,841, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 4,036 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,828 $633,680,000 $224,074
    4-5% 1,128 $203,470,000 $180,381
    2.5-3% 941 $233,735,000 $248,390
    <2.5% 140 $26,190,000 $187,071
    5-6% 76 $13,630,000 $179,342
    6-7% 5 $965,000 $193,000
    Over 8% 4 $670,000 $167,500
    7-8% 1 $305,000 $305,000

    During 2020, Southwest Funding Lp's average interest rate for loans was 3.64%, while their most frequently originated rate bucket for loans was 3-4%, with 2,828 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 2,301 $358,455,000 $155,782 $8,041 3.73%
    $200k-400k 2,255 $603,125,000 $267,461 $11,455 3.49%
    $100,000 or less 310 $22,570,000 $72,806 $5,143 3.63%
    $400k-600k 254 $118,510,000 $466,575 $13,257 3.30%
    $600k-1MM 6 $4,430,000 $738,333 $17,089 2.94%
    $1MM+ 5 $6,395,000 $1,279,000 $21,451 3.18%

    2020 saw Southwest Funding Lp place emphasis on $100k-200k loans with 2,301 originations, totaling $358,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 1,605 $312,055,000 $194,427 $8,947 3.64%
    $50k or less 1,283 $198,325,000 $154,579 $7,590 3.70%
    $75k-100k 921 $215,645,000 $234,142 $10,723 3.62%
    $100k-150k 815 $214,845,000 $263,613 $10,617 3.46%
    $150k-250k 378 $122,890,000 $325,106 $14,392 3.42%
    $250k+ 122 $47,750,000 $391,393 $11,362 3.34%

    Southwest Funding Lp lent most frequently to those with incomes in the $50k-75k range, with 1,605 originations. The second most popular income band? $50k or less, with 1,283 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 790 $173,440,000 $219,544 $10,680 3.49%
    30-36% 782 $163,060,000 $208,517 $9,615 3.58%
    50-60% 585 $127,895,000 $218,624 $10,954 3.76%
    <20% 311 $72,045,000 $231,656 $8,011 3.31%
    44% 250 $55,140,000 $220,560 $8,993 3.63%
    43% 229 $51,565,000 $225,175 $9,523 3.63%
    42% 220 $46,870,000 $213,045 $9,116 3.60%
    39% 213 $44,975,000 $211,150 $8,955 3.69%
    40% 189 $40,045,000 $211,878 $9,074 3.75%
    41% 184 $39,340,000 $213,804 $9,251 3.56%
    45% 177 $37,505,000 $211,893 $9,317 3.69%
    49% 174 $36,970,000 $212,471 $9,781 3.68%
    47% 173 $36,835,000 $212,919 $9,623 3.69%
    38% 172 $35,600,000 $206,977 $8,718 3.57%
    37% 170 $37,230,000 $219,000 $8,967 3.75%
    36% 152 $34,160,000 $224,737 $9,309 3.69%
    48% 140 $28,810,000 $205,786 $9,689 3.63%
    46% 128 $29,840,000 $233,125 $10,300 3.69%
    >60% 11 $1,735,000 $157,727 $5,518 2.34%

    Southwest Funding Lp lent most frequently to those with DTI ratios of 20-30%, with 790 originations. The next most common DTI ratio? 30-36%, with 782 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,535 $777,445,000 $219,928 $9,453 3.56%
    Black 1,008 $206,780,000 $205,139 $10,064 3.78%
    Not provided 467 $100,825,000 $215,899 $10,635 3.54%
    Asian 105 $25,515,000 $243,000 $8,323 3.21%
    American Indian 10 $1,830,000 $183,000 $8,372 3.67%
    Native Hawaiian or Islander 6 $1,090,000 $181,667 $8,166 3.67%

    Approval Rates

    Total approvals of all applications
    99.12%

    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
    86.75%

    Southwest Funding Lp has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 5,131 $1,113,485,000 $217,011

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 5,131 $1,113,485,000 $217,011

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $6,640,000 $150,909 $8,104 3.18%
    40-60% 234 $47,490,000 $202,949 $7,990 3.23%
    60-80% 1,014 $242,400,000 $239,053 $8,901 3.38%
    80-100% 3,649 $779,165,000 $213,528 $9,912 3.71%
    Over 100% 149 $36,885,000 $247,550 $13,530 3.75%
    Under 20% 39 $755,000 $19,359 $759 0.38%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SOUTHWEST FUNDING, LP VA mortgage Closing on a mortgage 1 20.0%
    SOUTHWEST FUNDING, LP FHA mortgage Closing on a mortgage 3 60.0%
    SOUTHWEST FUNDING, LP FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%