Southwest Funding Lp Mortgage Rates, Fees & Info

DALLAS, TX

LEI: 5493006P5IHSK77SZ855

Tax ID: 75-2674544

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 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%	11/22/24
30 Year Conventional Refi	6.69%	11/22/24
30 Year Cash-out Refi	6.93%	11/22/24
30 Year FHA Purchase	7.90%	11/22/24
30 Year FHA Refi	7.75%	11/22/24
30 Year VA Purchase	6.77%	11/22/24
30 Year VA Refi	6.28%	11/22/24
30 Year USDA Purchase	7.22%	11/22/24
30 Year USDA Refi	6.27%	11/22/24
15 Year Conventional Purchase	6.25%	11/22/24
15 Year Conventional Refi	6.16%	11/22/24
15 Year Cash-out Refi	6.16%	11/22/24
15 Year VA Purchase	6.86%	11/22/24
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

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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%
Cañon 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%
Española, 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)

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.

PIERREMONT MORTGAGE, INC.
Similarity Rank: 76

Jefferson Parish Employees FCU
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Bossier Federal Credit Union
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Eureka Homestead
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Hometown Bank
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TRUE SKY
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Guaranty Bank & Trust, N.A.
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WESTSTAR MORTGAGE CORPORATION
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My Community Credit Union
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METROPLEX MORTGAGE SERVICES, INC.
Similarity Rank: 372

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%