Summit Funding Mortgage Rates, Fees & Info
Sacramento, CALEI: 5493008VVXQIDO1EZ460
Tax ID: 91-1780488
1 stars
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out of 5 stars, based on 100 reviews
Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Summit Funding is a mid-sized mortgage company specializing in Home Purchase loans. Summit Funding has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Sacramento, Eugene, San Diego, Stockton, and Kansas City among others. We have data for 282 markets. (Some data included below & more in-depth data is available with an active subscription.)Summit Funding 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. Summit Funding 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 5/28/23 |
| 30 Year Conventional Purchase | 6.65% | 5/28/23 |
| 30 Year Conventional Refi | 6.71% | 5/28/23 |
| 30 Year Cash-out Refi | 6.97% | 5/28/23 |
| 30 Year FHA Purchase | 7.77% | 5/28/23 |
| 30 Year FHA Refi | 7.48% | 5/28/23 |
| 30 Year VA Purchase | 6.56% | 5/28/23 |
| 30 Year VA Refi | 6.23% | 5/28/23 |
| 30 Year USDA Purchase | 7.01% | 5/28/23 |
| 15 Year Conventional Purchase | 6.57% | 5/28/23 |
| 15 Year Conventional Refi | 6.31% | 5/28/23 |
| 15 Year Cash-out Refi | 6.31% | 5/28/23 |
| 15 Year FHA Purchase | 5.68% | 5/28/23 |
| 15 Year VA Purchase | 5.68% | 5/28/23 |
| 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. | ||
Summit Funding Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Summit Funding. 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
10,045Origination Dollar Volume (All Markets)
$3,447,465,000Awards
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SUMMIT FUNDING - 2022
SUMMIT FUNDING is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
Summit Funding's average 30 year fixed mortgage rate was
4.9%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of 0.14%.
Relative Fees (Closing Costs)
Summit Funding's average total fees/closing costs for a 30 year fixed rate
mortgage were $10,093.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 689 | $262,265,000 | $380,646 | $9,814 | 4.46% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 666 | $244,750,000 | $367,492 | $10,359 | 5.16% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 313 | $198,545,000 | $634,329 | $13,126 | 4.76% |
| STOCKTON, CA (FHA|USDA|VA) | 522 | $190,350,000 | $364,655 | $11,073 | 4.54% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 653 | $173,435,000 | $265,597 | $5,473 | 5.46% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 181 | $115,925,000 | $640,470 | $11,873 | 4.54% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 285 | $102,195,000 | $358,579 | $10,763 | 4.74% |
| RENO, NV (FHA|USDA|VA) | 254 | $94,840,000 | $373,386 | $10,876 | 4.85% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 218 | $91,920,000 | $421,651 | $12,586 | 4.39% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 160 | $91,500,000 | $571,875 | $12,949 | 4.90% |
| Outside of Metro Areas | 340 | $86,550,000 | $254,559 | $9,081 | 5.03% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 229 | $86,345,000 | $377,052 | $7,993 | 5.13% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 314 | $82,440,000 | $262,548 | $9,552 | 4.29% |
| BOISE CITY, ID (FHA|USDA|VA) | 220 | $79,880,000 | $363,091 | $11,780 | 4.92% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 211 | $76,725,000 | $363,626 | $11,320 | 4.44% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 233 | $75,715,000 | $324,957 | $10,611 | 4.13% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 232 | $58,260,000 | $251,121 | $10,489 | 4.07% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 238 | $54,480,000 | $228,908 | $7,758 | 5.30% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 125 | $51,275,000 | $410,200 | $10,703 | 4.92% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 86 | $49,660,000 | $577,442 | $12,487 | 4.59% |
| REDDING, CA (FHA|USDA|VA) | 150 | $44,320,000 | $295,467 | $9,158 | 4.84% |
| Klamath Falls, OR (FHA|USDA|VA) | 153 | $43,195,000 | $282,320 | $9,121 | 5.02% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 139 | $42,665,000 | $306,942 | $9,670 | 4.92% |
| SALINAS, CA (FHA|USDA|VA) | 79 | $42,255,000 | $534,873 | $10,927 | 4.86% |
| CHICO, CA (FHA|USDA|VA) | 120 | $42,010,000 | $350,083 | $7,656 | 3.89% |
| MODESTO, CA (FHA|USDA|VA) | 126 | $41,900,000 | $332,540 | $9,922 | 4.39% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 98 | $41,500,000 | $423,469 | $11,042 | 5.05% |
| BEND, OR (FHA|USDA|VA) | 72 | $40,670,000 | $564,861 | $12,280 | 4.98% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 104 | $33,610,000 | $323,173 | $12,033 | 5.23% |
| Centralia, WA (FHA|USDA|VA) | 114 | $32,880,000 | $288,421 | $9,437 | 4.92% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 125 | $31,435,000 | $251,480 | $10,211 | 4.86% |
| Fernley, NV (FHA|USDA|VA) | 97 | $28,835,000 | $297,268 | $11,435 | 4.68% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 102 | $28,310,000 | $277,549 | $11,884 | 5.14% |
| VALLEJO, CA (FHA|USDA|VA) | 53 | $25,965,000 | $489,906 | $13,734 | 5.04% |
| MERCED, CA (FHA|USDA|VA) | 78 | $25,130,000 | $322,179 | $10,522 | 4.47% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 66 | $25,120,000 | $380,606 | $10,438 | 5.28% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 139 | $24,845,000 | $178,741 | $9,652 | 3.84% |
| Roseburg, OR (FHA|USDA|VA) | 83 | $23,365,000 | $281,506 | $9,777 | 5.00% |
| Red Bluff, CA (FHA|USDA|VA) | 87 | $23,225,000 | $266,954 | $9,050 | 4.81% |
| BATON ROUGE, LA (FHA|USDA|VA) | 141 | $22,475,000 | $159,397 | $10,434 | 3.72% |
| FRESNO, CA (FHA|USDA|VA) | 63 | $21,805,000 | $346,111 | $8,149 | 4.06% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 51 | $16,245,000 | $318,529 | $9,051 | 4.96% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 28 | $15,020,000 | $536,429 | $12,623 | 4.53% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 23 | $14,555,000 | $632,826 | $10,625 | 5.10% |
| YUBA CITY, CA (FHA|USDA|VA) | 39 | $12,695,000 | $325,513 | $12,636 | 4.44% |
| SALEM, OR (FHA|USDA|VA) | 35 | $11,755,000 | $335,857 | $10,666 | 4.88% |
| MEDFORD, OR (FHA|USDA|VA) | 35 | $11,595,000 | $331,286 | $10,736 | 4.57% |
| YAKIMA, WA (FHA|USDA|VA) | 48 | $11,460,000 | $238,750 | $9,504 | 4.60% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 37 | $10,875,000 | $293,919 | $8,096 | 5.29% |
| GREELEY, CO (FHA|USDA|VA) | 43 | $10,815,000 | $251,512 | $11,299 | 3.52% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 23 | $10,465,000 | $455,000 | $12,086 | 4.57% |
| POCATELLO, ID (FHA|USDA|VA) | 51 | $9,945,000 | $195,000 | $8,698 | 4.65% |
| TUCSON, AZ (FHA|USDA|VA) | 36 | $9,920,000 | $275,556 | $8,243 | 4.81% |
| FLORENCE, SC (FHA|USDA|VA) | 60 | $9,810,000 | $163,500 | $9,855 | 3.54% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 27 | $9,085,000 | $336,481 | $7,388 | 5.27% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 35 | $8,975,000 | $256,429 | $12,082 | 5.20% |
| Susanville, CA (FHA|USDA|VA) | 40 | $8,750,000 | $218,750 | $9,479 | 4.60% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 25 | $8,225,000 | $329,000 | $9,930 | 4.02% |
| Crescent City, CA (FHA|USDA|VA) | 31 | $8,145,000 | $262,742 | $9,289 | 4.68% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 39 | $8,055,000 | $206,538 | $8,318 | 4.95% |
| MADERA, CA (FHA|USDA|VA) | 17 | $7,565,000 | $445,000 | $7,338 | 4.59% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 10 | $7,530,000 | $753,000 | $12,783 | 4.55% |
| Outside of Metro Areas | 19 | $7,005,000 | $368,684 | $11,246 | 5.72% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 22 | $6,890,000 | $313,182 | $10,539 | 5.04% |
| Fallon, NV (FHA|USDA|VA) | 26 | $6,810,000 | $261,923 | $10,070 | 5.05% |
| CARSON CITY, NV (FHA|USDA|VA) | 18 | $6,710,000 | $372,778 | $12,005 | 5.39% |
| Astoria, OR (FHA|USDA|VA) | 15 | $6,535,000 | $435,667 | $9,975 | 4.77% |
| SPARTANBURG, SC (FHA|USDA|VA) | 26 | $6,420,000 | $246,923 | $6,545 | 4.93% |
| HAMMOND, LA (FHA|USDA|VA) | 31 | $6,115,000 | $197,258 | $9,419 | 4.20% |
| CORVALLIS, OR (FHA|USDA|VA) | 14 | $5,040,000 | $360,000 | $9,743 | 4.76% |
| Clearlake, CA (FHA|USDA|VA) | 23 | $5,025,000 | $218,478 | $10,536 | 4.67% |
| NAPA, CA (FHA|USDA|VA) | 7 | $4,985,000 | $712,143 | $13,263 | 4.80% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 18 | $4,980,000 | $276,667 | $8,404 | 4.83% |
| Moscow, ID (FHA|USDA|VA) | 16 | $4,810,000 | $300,625 | $9,647 | 5.36% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 7 | $4,375,000 | $625,000 | $13,738 | 5.16% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 7 | $4,215,000 | $602,143 | $10,948 | 5.18% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 11 | $4,155,000 | $377,727 | $11,020 | 4.59% |
| COLUMBUS, OH (FHA|USDA|VA) | 13 | $4,065,000 | $312,692 | $8,953 | 6.89% |
| DALTON, GA (FHA|USDA|VA) | 19 | $3,985,000 | $209,737 | $8,674 | 5.85% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 19 | $3,975,000 | $209,211 | $8,812 | 5.03% |
| GRANTS PASS, OR (FHA|USDA|VA) | 12 | $3,760,000 | $313,333 | $9,820 | 5.30% |
| Newport, OR (FHA|USDA|VA) | 11 | $3,645,000 | $331,364 | $9,932 | 5.10% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 22 | $3,520,000 | $160,000 | $6,184 | 4.01% |
| FORT COLLINS, CO (FHA|USDA|VA) | 9 | $3,265,000 | $362,778 | $11,097 | 5.08% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 4 | $3,160,000 | $790,000 | $10,040 | 5.69% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 12 | $3,080,000 | $256,667 | $8,961 | 4.50% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 9 | $3,025,000 | $336,111 | $12,992 | 5.04% |
| Winnemucca, NV (FHA|USDA|VA) | 12 | $3,020,000 | $251,667 | $11,294 | 4.10% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $2,840,000 | $473,333 | $7,007 | 4.77% |
| BELLINGHAM, WA (FHA|USDA|VA) | 9 | $2,775,000 | $308,333 | $12,044 | 4.96% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 8 | $2,610,000 | $326,250 | $11,991 | 4.98% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 8 | $2,560,000 | $320,000 | $9,638 | 4.33% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 7 | $2,535,000 | $362,143 | $9,061 | 6.38% |
| Moses Lake, WA (FHA|USDA|VA) | 16 | $2,500,000 | $156,250 | $9,668 | 3.41% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 9 | $2,405,000 | $267,222 | $4,799 | 5.82% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 7 | $2,355,000 | $336,429 | $13,821 | 4.77% |
| Heber, UT (FHA|USDA|VA) | 2 | $2,350,000 | $1,175,000 | $16,868 | 4.19% |
| VISALIA, CA (FHA|USDA|VA) | 9 | $2,245,000 | $249,444 | $8,954 | 3.65% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 4 | $2,220,000 | $555,000 | $14,141 | 5.06% |
| Oak Harbor, WA (FHA|USDA|VA) | 9 | $2,195,000 | $243,889 | $8,230 | 4.55% |
| KNOXVILLE, TN (FHA|USDA|VA) | 10 | $2,190,000 | $219,000 | $8,002 | 4.80% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 6 | $2,190,000 | $365,000 | $4,855 | 6.00% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 4 | $2,180,000 | $545,000 | $12,245 | 5.25% |
| Ukiah, CA (FHA|USDA|VA) | 6 | $2,090,000 | $348,333 | $21,229 | 4.17% |
| CLEVELAND, TN (FHA|USDA|VA) | 10 | $2,070,000 | $207,000 | $7,631 | 4.95% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 7 | $2,045,000 | $292,143 | $4,528 | 5.36% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 4 | $2,040,000 | $510,000 | $12,419 | 4.53% |
| Brookings, OR (FHA|USDA|VA) | 5 | $2,005,000 | $401,000 | $8,463 | 4.33% |
| Warrensburg, MO (FHA|USDA|VA) | 8 | $2,000,000 | $250,000 | $6,870 | 5.56% |
| TWIN FALLS, ID (FHA|USDA|VA) | 10 | $1,970,000 | $197,000 | $8,657 | 5.56% |
| Aberdeen, WA (FHA|USDA|VA) | 8 | $1,860,000 | $232,500 | $10,576 | 4.42% |
| BOULDER, CO (FHA|USDA|VA) | 4 | $1,830,000 | $457,500 | $6,912 | 5.50% |
| Coos Bay, OR (FHA|USDA|VA) | 5 | $1,785,000 | $357,000 | $7,412 | 5.37% |
| Shelton, WA (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $8,197 | 4.52% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 5 | $1,745,000 | $349,000 | $8,403 | 5.05% |
| YUMA, AZ (FHA|USDA|VA) | 6 | $1,740,000 | $290,000 | $11,433 | 5.19% |
| LONGVIEW, WA (FHA|USDA|VA) | 8 | $1,680,000 | $210,000 | $7,285 | 4.84% |
| WACO, TX (FHA|USDA|VA) | 4 | $1,650,000 | $412,500 | $17,057 | 4.75% |
| Pullman, WA (FHA|USDA|VA) | 9 | $1,585,000 | $176,111 | $6,427 | 4.54% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,515,000 | $303,000 | $9,412 | 5.30% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 4 | $1,450,000 | $362,500 | $8,474 | 4.97% |
| WENATCHEE, WA (FHA|USDA|VA) | 5 | $1,425,000 | $285,000 | $7,252 | 3.35% |
| COLUMBIA, SC (FHA|USDA|VA) | 7 | $1,415,000 | $202,143 | $8,830 | 4.84% |
| GAINESVILLE, GA (FHA|USDA|VA) | 5 | $1,405,000 | $281,000 | $10,024 | 5.20% |
| Kapaa, HI (FHA|USDA|VA) | 3 | $1,365,000 | $455,000 | $4,191 | 5.25% |
| Mountain Home, ID (FHA|USDA|VA) | 5 | $1,345,000 | $269,000 | $9,568 | 5.70% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 9 | $1,315,000 | $146,111 | $6,619 | 5.12% |
| Ontario, OR-ID (FHA|USDA|VA) | 4 | $1,280,000 | $320,000 | $11,314 | 5.47% |
| Jackson, WY-ID (FHA|USDA|VA) | 4 | $1,270,000 | $317,500 | $11,381 | 5.91% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 2 | $1,200,000 | $600,000 | $17,595 | 5.00% |
| Prineville, OR (FHA|USDA|VA) | 4 | $1,180,000 | $295,000 | $5,045 | 6.16% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 4 | $1,170,000 | $292,500 | $8,887 | 4.47% |
| WALLA WALLA, WA (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $11,922 | 5.67% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 4 | $1,120,000 | $280,000 | $6,795 | 5.75% |
| La Grande, OR (FHA|USDA|VA) | 4 | $1,110,000 | $277,500 | $9,685 | 5.22% |
| WICHITA, KS (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $15,896 | 5.21% |
| SAVANNAH, GA (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $13,350 | 5.29% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $8,902 | 4.94% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $11,337 | 4.75% |
| Gillette, WY (FHA|USDA|VA) | 2 | $1,050,000 | $525,000 | $15,096 | 7.19% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $1,040,000 | $520,000 | $4,142 | 5.31% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $980,000 | $490,000 | $4,954 | 4.31% |
| LAWRENCE, KS (FHA|USDA|VA) | 5 | $955,000 | $191,000 | $4,990 | 5.28% |
| Dublin, GA (FHA|USDA|VA) | 5 | $955,000 | $191,000 | $8,932 | 5.15% |
| LOGAN, UT-ID (FHA|USDA|VA) | 4 | $950,000 | $237,500 | $0 | 4.47% |
| Rexburg, ID (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $8,825 | 4.68% |
| Jefferson, GA (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $2,813 | 4.75% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 3 | $925,000 | $308,333 | $5,290 | 4.83% |
| Summerville, GA (FHA|USDA|VA) | 6 | $870,000 | $145,000 | $6,848 | 5.90% |
| Fort Morgan, CO (FHA|USDA|VA) | 6 | $860,000 | $143,333 | $0 | 3.02% |
| Payson, AZ (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $8,676 | 5.00% |
| Hilo, HI (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $37,075 | 2.75% |
| CHEYENNE, WY (FHA|USDA|VA) | 1 | $795,000 | $795,000 | $32,872 | 4.75% |
| Sandpoint, ID (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $19,225 | 6.21% |
| LAFAYETTE, LA (FHA|USDA|VA) | 5 | $785,000 | $157,000 | $9,970 | 2.90% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $13,084 | 4.63% |
| LUBBOCK, TX (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $8,951 | 4.50% |
| OCALA, FL (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $13,958 | 4.31% |
| PROVO-OREM, UT (FHA|USDA|VA) | 2 | $730,000 | $365,000 | $9,321 | 5.37% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $13,368 | 4.25% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $9,284 | 5.29% |
| FLINT, MI (FHA|USDA|VA) | 5 | $705,000 | $141,000 | $7,029 | 4.60% |
| Elko, NV (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $5,296 | 5.50% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $5,276 | 4.58% |
| Blackfoot, ID (FHA|USDA|VA) | 4 | $670,000 | $167,500 | $5,769 | 6.13% |
| Ottawa, KS (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $8,726 | 6.08% |
| Cañon City, CO (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $36,987 | 5.00% |
| EL CENTRO, CA (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $6,454 | 4.93% |
| Picayune, MS (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $9,746 | 5.29% |
| Othello, WA (FHA|USDA|VA) | 5 | $655,000 | $131,000 | $8,962 | 3.25% |
| Craig, CO (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $6,326 | 3.67% |
| Key West, FL (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $16,994 | 5.99% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $8,060 | 4.81% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $635,000 | $635,000 | $6,782 | 5.75% |
| Stephenville, TX (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $11,525 | 6.81% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 5 | $625,000 | $125,000 | $8,046 | 5.58% |
| The Dalles, OR (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $11,074 | 3.81% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $7,530 | 4.38% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $3,937 | 5.69% |
| TULSA, OK (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $8,023 | 5.68% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $13,862 | 3.63% |
| SUMTER, SC (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $5,825 | 3.67% |
| Scottsboro, AL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $6,075 | 4.69% |
| TYLER, TX (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $20,228 | 2.88% |
| Silver City, NM (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $25,815 | 5.99% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $21,700 | 6.00% |
| JACKSON, MS (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $12,786 | 5.94% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $9,510 | 3.38% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $2,880 | 3.75% |
| Kearney, NE (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,061 | 3.38% |
| COLUMBIA, MO (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $7,749 | 4.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $19,030 | 4.38% |
| Del Rio, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $7,638 | 5.06% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $8,783 | 5.19% |
| DECATUR, AL (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $9,292 | 7.25% |
| Bonham, TX (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $7,119 | 5.18% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $4,104 | 3.88% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $7,555 | 5.88% |
| PUEBLO, CO (FHA|USDA|VA) | 3 | $415,000 | $138,333 | $6,525 | 3.96% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,995 | 4.63% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $4,373 | 5.88% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $7,365 | 5.29% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $6,722 | 5.38% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 4 | $390,000 | $97,500 | $6,806 | 4.59% |
| Crossville, TN (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $10,769 | 5.00% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $11,096 | 4.69% |
| Nogales, AZ (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 6.56% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $8,611 | 5.99% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $6,717 | 6.19% |
| MANHATTAN, KS (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,170 | 4.88% |
| Laurinburg, NC (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $9,327 | 5.00% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $8,941 | 5.75% |
| Rockport, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,263 | 3.99% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,727 | 6.38% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,042 | 5.38% |
| Montrose, CO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,124 | 5.75% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $10,381 | 6.50% |
| Natchez, MS-LA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $12,755 | 4.75% |
| DOVER, DE (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $14,702 | 5.63% |
| Albertville, AL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $6,108 | 5.81% |
| ROME, GA (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $6,139 | 5.88% |
| Urbana, OH (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $12,068 | 4.25% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $14,095 | 6.13% |
| Granbury, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $4,449 | 2.99% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 5.99% |
| Bartlesville, OK (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,696 | 4.88% |
| ROCHESTER, MN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,917 | 4.99% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,133 | 3.25% |
| MONROE, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,183 | 2.88% |
| Dayton, TN (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $8,513 | 5.38% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $9,286 | 4.99% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 6.38% |
| Sulphur Springs, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $14,449 | 3.38% |
| Sonora, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,754 | 4.88% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,670 | 5.88% |
| JOPLIN, MO (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,466 | 5.25% |
| ALBANY, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $12,387 | 6.25% |
| Ardmore, OK (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,183 | 3.75% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $13,500 | 3.38% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 4.99% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $12,728 | 7.25% |
| ELKHART-GOSHEN, IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,811 | 3.50% |
| GREAT FALLS, MT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,052 | 3.50% |
| VICTORIA, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,977 | 6.63% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 3.63% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,846 | 5.99% |
| WHEELING, WV-OH (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,667 | 4.38% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,607 | 5.00% |
| Sedalia, MO (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,774 | 3.75% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,093 | 2.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,061 | 3.13% |
| FORT SMITH, AR-OK (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,277 | 6.38% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $11,295 | 4.50% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,136 | 4.25% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $13,638 | 5.75% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $11,931 | 5.50% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,101 | 5.99% |
| Athens, TN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,670 | 5.63% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 3.88% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $11,114 | 6.13% |
| Ozark, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,789 | 4.99% |
| Jacksonville, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,239 | 4.13% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $12,043 | 4.99% |
| NILES, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.38% |
| Burley, ID (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.75% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,672 | 5.99% |
| New Philadelphia-Dover, OH (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 6.13% |
| Pahrump, NV (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $12,988 | 7.25% |
| Salina, KS (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,501 | 5.50% |
| Ashtabula, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $10,876 | 5.75% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,697 | 5.50% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,292 | 5.88% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 5.00% |
| MUNCIE, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,738 | 5.88% |
| Mount Pleasant, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,708 | 7.13% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,996 | 5.88% |
| Borger, TX (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $2,043 | 3.13% |
| JOHNSTOWN, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $5,668 | 5.50% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $8,236 | 5.25% |
| Danville, VA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $7,444 | 3.75% |
| Calhoun, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $4,293 | 7.13% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.13% |
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Product Mix
For 2022, Summit Funding's most frequently originated type of loan was Conventional, with 7,408 originations. Their 2nd most popular type was FHA, with 1,912 originations.
Loan Reason
For 2022, Summit Funding's most frequently cited loan purpose was Home Purchase, with 8,320 originations. The 2nd most popular reason was Cash Out Refi, with 1,097 originations.
Loan Duration/Length
For 2022, Summit Funding's most frequently cited loan duration was 30 Year, with 9,398 originations. The 2nd most popular length was 15 Year, with 275 originations.
Origination Fees/Closing Costs
Summit Funding's average total fees were $10,093, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 4,360 originations.
Interest Rates
During 2022, Summit Funding's average interest rate for loans was 4.90%, while their most frequently originated rate bucket for loans was 5-6%, with 3,037 originations.
Loan Sizing
2022 saw Summit Funding place emphasis on $200k-400k loans with 4,680 originations, totaling $1,406,530,000 in origination value.
Applicant Income
Summit Funding lent most frequently to those with incomes in the $100k-150k range, with 2,638 originations. The second most popular income band? $50k-75k, with 2,280 originations.
Applicant Debt to Income Ratio
Summit Funding lent most frequently to those with DTI ratios of 30-36%, with 1,314 originations. The next most common DTI ratio? 20-30%, with 1,114 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.49%
Summit Funding has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination61.05%
Summit Funding has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 10,045 | $3,447,465,000 | $343,202 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 10,045 | $3,447,465,000 | $343,202 |