Southwest Airlines Federal Credit Union Mortgage Rates, Fees & Info
Dallas, TXLEI: 549300DQLGJ1YQRRHH73
Tax ID: 75-1486899
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Mortgage Data
Review & Overview
Southwest Airlines Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Southwest Airlines Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Dallas, Phoenix, Houston, Atlanta, and Las Vegas among others. We have data for 86 markets. (Some data included below & more in-depth data is available with an active subscription.)Southwest Airlines Federal Credit Union has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Southwest Airlines Federal Credit Union is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 5.91% | 12/16/24 |
| 30 Year Conventional Refi | 5.94% | 12/16/24 |
| 30 Year Cash-out Refi | 6.62% | 12/16/24 |
| 15 Year Conventional Purchase | 5.63% | 12/16/24 |
| 15 Year Conventional Refi | 5.53% | 12/16/24 |
| 15 Year Cash-out Refi | 5.53% | 12/16/24 |
| 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 Airlines Federal Credit Union Mortgage Calculator
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This is not an official calculator from Southwest Airlines Federal Credit Union. It uses our SimulatedRate™
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
404Origination Dollar Volume (All Markets)
$61,430,000Top 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) | 141 | $26,135,000 | $185,355 | $3,657 | 4.48% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 47 | $5,445,000 | $115,851 | $1,441 | 4.27% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 25 | $3,185,000 | $127,400 | $2,535 | 4.49% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 22 | $2,260,000 | $102,727 | $1,799 | 4.23% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 17 | $2,255,000 | $132,647 | $1,764 | 4.18% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 10 | $1,510,000 | $151,000 | $2,126 | 4.33% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $1,420,000 | $236,667 | $5,721 | 4.75% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 9 | $1,295,000 | $143,889 | $4,295 | 4.46% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $1,205,000 | $133,889 | $2,604 | 4.21% |
| Outside of Metro Areas | 5 | $1,165,000 | $233,000 | $5,569 | 3.83% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 9 | $975,000 | $108,333 | $1,342 | 4.06% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 7 | $895,000 | $127,857 | $2,510 | 4.54% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $890,000 | $222,500 | $5,191 | 4.56% |
| WALLA WALLA, WA (FHA|USDA|VA) | 1 | $595,000 | $595,000 | $9,239 | 4.50% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $8,741 | 3.88% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $8,849 | 4.75% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $8,404 | 4.38% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $7,189 | 4.25% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,302 | 5.75% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,510 | 4.75% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,877 | 4.38% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $6,977 | 5.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $1,179 | 4.08% |
| Athens, TX (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $7,508 | 4.50% |
| Oxford, MS (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $6,802 | 5.88% |
| Moscow, ID (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,040 | 4.75% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $1,902 | 4.17% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $2,071 | 4.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $2,878 | 4.50% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $1,396 | 4.25% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,195 | 3.25% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,392 | 4.75% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,408 | 4.75% |
| Bemidji, MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $5,778 | 4.50% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $225,000 | $75,000 | $959 | 4.33% |
| Pecos, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,692 | 3.88% |
| Jackson, WY-ID (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,916 | 4.25% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,335 | 4.00% |
| Heber, UT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,488 | 4.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,846 | 4.25% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $2,590 | 4.00% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $361 | 4.25% |
| Granbury, TX (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 4.25% |
| Edwards, CO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,663 | 4.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,545 | 3.00% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,109 | 4.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $433 | 4.25% |
| FORT COLLINS, CO (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $1,189 | 5.50% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,283 | 4.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $289 | 4.25% |
| TEXARKANA, TX-AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,223 | 3.88% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,149 | 4.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,704 | 2.50% |
| Cedar City, UT (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,732 | 3.25% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $324 | 4.13% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,308 | 2.75% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,147 | 5.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $518 | 4.25% |
| Toccoa, GA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $314 | 3.75% |
| Orangeburg, SC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $4,109 | 5.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.75% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,369 | 4.25% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,389 | 3.25% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $317 | 4.50% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $314 | 4.25% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $599 | 4.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,426 | 3.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $314 | 4.25% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 5.75% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $494 | 4.25% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $314 | 4.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $489 | 4.25% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 5.00% |
| Marion, NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $889 | 4.00% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $409 | 4.25% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $239 | 4.25% |
| MADISON, WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $334 | 4.25% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $314 | 4.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $334 | 3.75% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $544 | 4.25% |
| Bonham, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $306 | 4.25% |
| Elko, NV (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $334 | 4.25% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $289 | 4.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $314 | 4.25% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $402 | 4.75% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $314 | 4.00% |
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 384 | $59,650,000 | $155,339 | $2,856 | 4.31% |
| HELOC | 20 | $1,780,000 | $89,000 | n/a | 5.35% |
For 2022, Southwest Airlines Federal Credit Union's most frequently originated type of loan was Conventional, with 384 originations. Their 2nd most popular type was HELOC, with 20 originations.
Loan Reason
For 2022, Southwest Airlines Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 185 originations. The 2nd most popular reason was Home Purchase, with 104 originations.
Loan Duration/Length
For 2022, Southwest Airlines Federal Credit Union's most frequently cited loan duration was 15 Year, with 194 originations. The 2nd most popular length was 30 Year, with 98 originations.
Origination Fees/Closing Costs
Southwest Airlines Federal Credit Union's average total fees were $6,989, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 246 originations.
Interest Rates
During 2022, Southwest Airlines Federal Credit Union's average interest rate for loans was 4.67%, while their most frequently originated rate bucket for loans was 4-5%, with 256 originations.
Loan Sizing
2022 saw Southwest Airlines Federal Credit Union place emphasis on $100,000 or less loans with 182 originations, totaling $10,460,000 in origination value.
Applicant Income
Southwest Airlines Federal Credit Union lent most frequently to those with incomes in the $100k-150k range, with 107 originations. The second most popular income band? $150k-250k, with 101 originations.
Applicant Debt to Income Ratio
Southwest Airlines Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 145 originations. The next most common DTI ratio? 30-36%, with 67 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications70.47%
Southwest Airlines Federal Credit Union has a below average approval rate.
Pick Rate
Approvals leading to origination99.26%
Southwest Airlines Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 404 | $61,430,000 | $152,054 |