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SWBC mortgage review

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SWBC Mortgage provides customized home loans for most of the US.

This lender offers a customized home loan underwriting process that may benefit applicants having a hard time getting approved or finding low mortgages rates. But while SWBC touts its flexible and streamlined home loan process, it doesn’t provide baseline requirements or rate expectations online. You’ll need to fill out an application to find out your specific rate and product approvals.


Loan products offeredConventional, Jumbo, FHA, VA, USDA, Refinance
Minimum credit scoreConventional: 620
Minimum down payment3%
State availabilityNot available in: HI, MS, MO, NY, ND, RI, SD, VT, VA, WY, DC
NMLS #9741

SWBC requirements

SWBC loan requirements vary depending on the type of mortgage you’re applying for. Some key requirements by loan type include:

  • Loan-to-value ratio (LTV). SWBC doesn’t list its LTV requirements by loan. It instead states that LTV is based on the specific loan type, loan purpose and other applicant risk factors determined during the underwriting process.
  • Debt-to-income ratio (DTI). SWBC only lists specific DTI requirements for jumbo loans. When applying for a jumbo loan, you can have a DTI up to 43%.
  • Credit scores. This lender doesn’t list specific credit score requirements for each loan product. Instead, SWBC recommends contacting one of its loan originators to receive information on whether your credit score and history qualifies you for a mortgage.

Preapproval process

SWBC Mortgage recommends gathering some documents in advance, including:

  • Photo ID
  • Paystubs for the last two months
  • Asset account documentation
  • Current employment documentation (paystubs can be substituted for this)
  • Tax returns for the previous year
  • Current bank statements for all accounts
  • Current investment statement for all accounts

SWBC costs and fees

SWBC doesn’t make its lender and mortgage fees obvious on the website, but does mention that homebuyers should expect to pay typical fees such as:

  • Application fees
  • Closing costs — 3% to 6% of the loan amount
  • Title insurance and title search fees
  • Appraisal fees
  • Attorney and preparation fees

How to apply for a mortgage with SWBC

To complete the application process:

  1. First, review SWBC’s application checklist, which details the documents you and any cosigner will need to have handy.
  2. Next, you’ll start the prequalification process. SWBC Mortgage has an online prequalification application called TurnKey, which will help you submit your application for prequalification within minutes.
  3. After submitting your application, an SWBC loan officer will be in touch with your prequalification decision and next steps.

The TurnKey process will alert you whenever you’re required to complete the next step of the application process, from uploading documents and statements to answering any questions the loan officer might have.

What types of mortgages can I get through SWBC?

  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
This company accepts mortgage refinance applications.

Other mortgage products offered by SWBC

In addition to standard mortgage products, SWBC also offers:

  • Renovation home loans. Allows you to combine the purchase price of a home and renovation costs into one loan.
  • Texas Vet home loans. Home loans designed for veterans living and buying a residence in Texas at competitive rates.

How SWBC mortgage products compare to other lenders

SWBC customizes the mortgage process and helps applicants with special circumstances or credit issues to apply and learn about the options available to them. However, it would be helpful to borrowers to see more baseline information regarding credit scores, LTV and DTI ratios to help borrowers understand how their mortgage products compare to competitors. SWBC also doesn’t reveal typical rates, which makes it difficult to compare to other lenders.

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SWBC reviews and complaints

As of November 2020, SWBC Mortgage isn’t accredited by the Better Business Bureau (BBB) and has a 5-star rating on its website. Individual SWBC branches across the country can also be found on the BBB website.

SWBC has a 4.5 out of 5-star review on WalletHub, where a key concern noted a long underwriting process. Yelp and Facebook reviews are mixed, with some customers noting SWBC’s knowledge and professionalism throughout the home loan process, and others mentioning unexpected fees and surcharges along the way.

Pros and cons of SWBC

Here are the advantages and drawbacks to securing a loan through SWBC as of November 2020.


  • Customized underwriting process. SWBC makes it easier for those with low credit or alternative work history to secure funding thanks to its customized underwriting process. This allows for more flexibility in the criteria considered when reviewing applicants for a home loan.
  • Availability. SWBC provides home loan services in over 40 states.
  • In-house process. Processing, underwriting and closing all happen in-house. This means your loan will remain with the same company, eliminating additional fees and making it easier to keep track of where you are in the home-buying process.
  • Free credit report and analysis. Some lenders charge to check your credit report, but SWBC offers an introductory analysis for free.
  • Streamlined prequalification and application. SWBC’s proprietary prequalification system, TurnKey, makes for a speedy prequalification process. You can use TurnKey to check your loan’s status at any point in the application process.


  • Rates and fees not disclosed. SWBC does not disclose current rates or fees included in the home buying process, which makes it hard to determine if this company’s loans are competitive with the current market.
  • Mixed customer reviews. SWBC has received mixed reviews overall, particularly around hidden fees and surcharges, hinting that SWBC’s lack of disclosure on fees and rates might lead buyers to pay more than expected.
  • Credit score requirements not disclosed. Since SWBC has a custom underwriting process, there’s no base credit score requirement to reference.

What is SWBC?

SWBC Mortgage was formed in 1987 as a division of Southwest Business Corporation. This mortgage provider is headquartered in San Antonio, Texas and offers mortgages in more than 40 states.

SWBC Mortgage is a well-known home loan provider across the country that offers a customized loan buying experience that’s fast and convenient.

Frequently asked questions

Home loans ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We analyze top home loan providers and rate them one to five stars based on factors that are most important to you. These factors include: rates and fees, product selection and borrower experience.

Read the full methodology of how we rate home loan providers.


Review by

Kelly Larson is a writer and editor at finder, where he currently spearheads the effort to make office sloths a thing. Prior to that all-important role, he led editorial newsrooms in the creation of award-winning content as a managing editor in the digital space.

Expert review

SWBC Mortgage has been providing home loans for over 30 years and could be worth considering thanks to its customized underwriting process. Since this lender will pull your credit report and offer a free analysis, you can compare options quickly to make the best choice for your financial future. But it doesn’t disclose rates, credit score requirements or application fees, which could be a red flag for some buyers.

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