Summit Funding Mortgage Rates, Fees & Info

Sacramento, CA

LEI: 5493008VVXQIDO1EZ460

Tax ID: 91-1780488

2.6 stars - out of 5 stars, based on 154 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Summit Funding is a large mortgage company specializing in Home Purchase and Refi 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 include Sacramento, Eugene, San Francisco, San Diego, and Dallas among others. Summit Funding has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Summit Funding is typically a high fee lendor.


Originations

23,647

Origination Dollar Volume (All Markets)

$7,804,025,000

Awards

SUMMIT FUNDING  FHA Loans gold SUMMIT FUNDING  FHA Loans gold SUMMIT FUNDING  30 Year Conventional Loans bronze SUMMIT FUNDING  30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Summit Funding 's average 30 year fixed rate mortgage of loans were 3.11%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.04%.

Relative Fees

Summit Funding 's average total fees for a 30 year fixed rate mortgage are $7,237.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1,634 $607,190,000 $371,597 $6,150 2.98%
EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) 1,338 $439,390,000 $328,393 $7,289 3.12%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 745 $437,205,000 $586,852 $7,648 3.03%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 765 $417,005,000 $545,105 $7,245 2.99%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1,160 $412,290,000 $355,422 $8,211 3.10%
STOCKTON, CA (FHA|USDA|VA) 1,216 $402,690,000 $331,160 $7,621 2.95%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 820 $271,800,000 $331,463 $7,835 2.97%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 747 $270,035,000 $361,493 $6,092 3.08%
CHICO, CA (FHA|USDA|VA) 783 $263,155,000 $336,086 $5,091 3.18%
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) 460 $226,000,000 $491,304 $8,697 3.03%
RENO, NV (FHA|USDA|VA) 656 $218,300,000 $332,774 $7,044 3.11%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 716 $205,650,000 $287,221 $6,586 3.10%
KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 740 $166,610,000 $225,149 $7,170 2.69%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 321 $162,155,000 $505,156 $7,904 3.06%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 223 $153,435,000 $688,049 $9,687 2.99%
Outside of Metro Areas 624 $149,850,000 $240,144 $6,809 3.08%
SALINAS, CA (FHA|USDA|VA) 305 $141,095,000 $462,607 $6,595 3.09%
TUCSON, AZ (FHA|USDA|VA) 617 $135,765,000 $220,041 $6,759 2.92%
BOISE CITY, ID (FHA|USDA|VA) 368 $126,130,000 $342,745 $9,089 3.17%
BAKERSFIELD, CA (FHA|USDA|VA) 484 $112,050,000 $231,508 $8,242 2.71%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 282 $110,370,000 $391,383 $7,587 3.18%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 454 $97,940,000 $215,727 $4,490 2.97%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 256 $96,200,000 $375,781 $6,692 3.13%
KANSAS CITY, MO-KS (FHA|USDA|VA) 419 $93,705,000 $223,640 $5,057 2.97%
FRESNO, CA (FHA|USDA|VA) 287 $93,225,000 $324,826 $5,201 3.06%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 213 $76,865,000 $360,869 $7,519 2.74%
BEND, OR (FHA|USDA|VA) 175 $73,825,000 $421,857 $7,442 3.15%
MODESTO, CA (FHA|USDA|VA) 232 $68,430,000 $294,957 $7,679 2.86%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 122 $67,840,000 $556,066 $7,361 3.04%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 240 $65,420,000 $272,583 $6,943 3.06%
REDDING, CA (FHA|USDA|VA) 233 $65,355,000 $280,494 $6,624 3.15%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 231 $63,555,000 $275,130 $5,489 3.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 280 $59,890,000 $213,893 $5,355 3.24%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 254 $59,080,000 $232,598 $9,231 3.38%
VALLEJO, CA (FHA|USDA|VA) 144 $58,130,000 $403,681 $7,748 3.12%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 157 $55,875,000 $355,892 $5,974 3.06%
MERCED, CA (FHA|USDA|VA) 184 $55,300,000 $300,543 $7,433 2.96%
Red Bluff, CA (FHA|USDA|VA) 211 $54,705,000 $259,265 $6,031 3.15%
Fernley, NV (FHA|USDA|VA) 223 $53,955,000 $241,951 $8,217 3.01%
Centralia, WA (FHA|USDA|VA) 194 $52,540,000 $270,825 $6,417 3.06%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 75 $42,065,000 $560,867 $6,582 3.09%
BATON ROUGE, LA (FHA|USDA|VA) 272 $41,350,000 $152,022 $7,750 2.39%
ALBANY-LEBANON, OR (FHA|USDA|VA) 133 $41,125,000 $309,211 $7,845 3.27%
LEWISTON, ID-WA (FHA|USDA|VA) 184 $40,650,000 $220,924 $8,230 3.02%
Klamath Falls, OR (FHA|USDA|VA) 156 $36,810,000 $235,962 $6,945 3.19%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 200 $34,820,000 $174,100 $7,141 2.77%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 171 $33,195,000 $194,123 $7,089 3.20%
Eureka-Arcata, CA (FHA|USDA|VA) 111 $32,015,000 $288,423 $6,367 3.11%
Crescent City, CA (FHA|USDA|VA) 106 $29,480,000 $278,113 $7,955 3.12%
Roseburg, OR (FHA|USDA|VA) 107 $28,485,000 $266,215 $7,556 3.18%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 100 $28,290,000 $282,900 $7,319 3.20%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 108 $26,020,000 $240,926 $8,463 3.47%
MEDFORD, OR (FHA|USDA|VA) 78 $23,880,000 $306,154 $6,797 3.23%
YUBA CITY, CA (FHA|USDA|VA) 80 $22,750,000 $284,375 $6,416 2.99%
URBAN HONOLULU, HI (FHA|USDA|VA) 41 $21,635,000 $527,683 $8,829 3.05%
POCATELLO, ID (FHA|USDA|VA) 103 $19,915,000 $193,350 $8,897 3.25%
SALEM, OR (FHA|USDA|VA) 57 $19,595,000 $343,772 $9,669 2.99%
IDAHO FALLS, ID (FHA|USDA|VA) 73 $17,245,000 $236,233 $9,114 3.03%
ROCKFORD, IL (FHA|USDA|VA) 124 $14,990,000 $120,887 $5,884 3.00%
Oak Harbor, WA (FHA|USDA|VA) 50 $14,440,000 $288,800 $7,390 2.90%
NAPA, CA (FHA|USDA|VA) 29 $14,015,000 $483,276 $7,578 2.97%
Susanville, CA (FHA|USDA|VA) 63 $13,865,000 $220,079 $7,175 3.27%
Fallon, NV (FHA|USDA|VA) 53 $12,865,000 $242,736 $7,571 3.20%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 24 $12,430,000 $517,917 $6,041 3.07%
MADERA, CA (FHA|USDA|VA) 40 $11,940,000 $298,500 $5,934 3.01%
Outside of Metro Areas 36 $11,680,000 $324,444 $6,203 3.25%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 25 $11,625,000 $465,000 $5,762 3.18%
Astoria, OR (FHA|USDA|VA) 28 $10,830,000 $386,786 $7,347 3.25%
HUNTSVILLE, AL (FHA|USDA|VA) 39 $10,785,000 $276,538 $5,679 3.45%
Gardnerville Ranchos, NV (FHA|USDA|VA) 21 $10,225,000 $486,905 $7,002 3.12%
SPARTANBURG, SC (FHA|USDA|VA) 51 $10,205,000 $200,098 $4,765 3.19%
Truckee-Grass Valley, CA (FHA|USDA|VA) 25 $9,595,000 $383,800 $6,396 3.13%
Kapaa, HI (FHA|USDA|VA) 20 $9,460,000 $473,000 $7,220 3.00%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 30 $9,450,000 $315,000 $7,677 3.21%
CARSON CITY, NV (FHA|USDA|VA) 35 $9,415,000 $269,000 $7,753 2.97%
CORVALLIS, OR (FHA|USDA|VA) 24 $9,060,000 $377,500 $8,479 3.11%
HAMMOND, LA (FHA|USDA|VA) 61 $9,045,000 $148,279 $6,815 2.34%
YAKIMA, WA (FHA|USDA|VA) 47 $8,635,000 $183,723 $7,455 2.36%
VISALIA, CA (FHA|USDA|VA) 30 $7,690,000 $256,333 $5,806 3.21%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 22 $7,300,000 $331,818 $9,272 3.34%
Clearlake, CA (FHA|USDA|VA) 30 $7,040,000 $234,667 $5,863 3.15%
Moscow, ID (FHA|USDA|VA) 27 $6,575,000 $243,519 $8,162 3.07%
COLORADO SPRINGS, CO (FHA|USDA|VA) 16 $6,200,000 $387,500 $6,335 3.04%
Ukiah, CA (FHA|USDA|VA) 15 $6,165,000 $411,000 $9,594 2.96%
FLORENCE, SC (FHA|USDA|VA) 37 $5,815,000 $157,162 $8,349 2.95%
Sonora, CA (FHA|USDA|VA) 21 $5,785,000 $275,476 $8,808 2.91%
GRANTS PASS, OR (FHA|USDA|VA) 15 $5,615,000 $374,333 $7,797 3.13%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 18 $5,350,000 $297,222 $6,792 3.16%
Blackfoot, ID (FHA|USDA|VA) 23 $5,195,000 $225,870 $8,571 3.18%
Moses Lake, WA (FHA|USDA|VA) 24 $5,180,000 $215,833 $7,818 2.95%
Jackson, WY-ID (FHA|USDA|VA) 13 $5,155,000 $396,538 $14,740 2.92%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $4,935,000 $987,000 $14,157 3.28%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 11 $4,745,000 $431,364 $5,352 3.12%
GREELEY, CO (FHA|USDA|VA) 13 $4,725,000 $363,462 $8,369 2.94%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 23 $4,675,000 $203,261 $8,842 3.33%
Newport, OR (FHA|USDA|VA) 17 $4,625,000 $272,059 $7,316 3.23%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 18 $4,400,000 $244,444 $4,710 2.98%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 22 $4,140,000 $188,182 $4,860 3.31%
TWIN FALLS, ID (FHA|USDA|VA) 13 $3,835,000 $295,000 $11,194 3.11%
Coos Bay, OR (FHA|USDA|VA) 11 $3,795,000 $345,000 $9,375 3.14%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 14 $3,610,000 $257,857 $7,680 3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 8 $3,340,000 $417,500 $6,213 3.22%
Hilo, HI (FHA|USDA|VA) 6 $2,990,000 $498,333 $8,660 2.94%
Prineville, OR (FHA|USDA|VA) 9 $2,965,000 $329,444 $9,048 3.18%
DALTON, GA (FHA|USDA|VA) 14 $2,850,000 $203,571 $5,896 3.48%
Pullman, WA (FHA|USDA|VA) 9 $2,795,000 $310,556 $6,784 2.99%
COLUMBIA, SC (FHA|USDA|VA) 11 $2,725,000 $247,727 $8,973 3.27%
ANN ARBOR, MI (FHA|USDA|VA) 11 $2,685,000 $244,091 $3,458 2.98%
Athens, TX (FHA|USDA|VA) 7 $2,675,000 $382,143 $7,903 3.30%
Ontario, OR-ID (FHA|USDA|VA) 10 $2,630,000 $263,000 $9,993 3.03%
Hood River, OR (FHA|USDA|VA) 5 $2,595,000 $519,000 $9,996 3.20%
BELLINGHAM, WA (FHA|USDA|VA) 7 $2,555,000 $365,000 $6,925 3.14%
CLEVELAND, TN (FHA|USDA|VA) 13 $2,545,000 $195,769 $7,205 3.25%
FLAGSTAFF, AZ (FHA|USDA|VA) 7 $2,445,000 $349,286 $6,464 3.18%
Ellensburg, WA (FHA|USDA|VA) 5 $2,415,000 $483,000 $10,217 3.02%
Mountain Home, ID (FHA|USDA|VA) 8 $2,360,000 $295,000 $8,426 3.14%
ST. LOUIS, MO-IL (FHA|USDA|VA) 10 $2,300,000 $230,000 $5,333 2.77%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 8 $2,220,000 $277,500 $4,015 3.30%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 7 $2,175,000 $310,714 $5,813 2.84%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 10 $2,160,000 $216,000 $4,061 3.06%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 8 $2,150,000 $268,750 $6,198 3.08%
Rexburg, ID (FHA|USDA|VA) 11 $2,075,000 $188,636 $7,561 2.80%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 5 $2,055,000 $411,000 $7,131 3.13%
FLINT, MI (FHA|USDA|VA) 13 $2,055,000 $158,077 $4,464 3.38%
SHERMAN-DENISON, TX (FHA|USDA|VA) 6 $2,050,000 $341,667 $7,053 3.12%
LONGVIEW, WA (FHA|USDA|VA) 9 $1,965,000 $218,333 $7,771 2.53%
BOULDER, CO (FHA|USDA|VA) 2 $1,950,000 $975,000 $2,897 3.19%
EL CENTRO, CA (FHA|USDA|VA) 8 $1,890,000 $236,250 $3,201 2.88%
Shelbyville, TN (FHA|USDA|VA) 9 $1,835,000 $203,889 $6,235 2.63%
Warrensburg, MO (FHA|USDA|VA) 7 $1,825,000 $260,714 $5,450 3.02%
WACO, TX (FHA|USDA|VA) 8 $1,760,000 $220,000 $7,093 3.23%
FORT COLLINS, CO (FHA|USDA|VA) 6 $1,740,000 $290,000 $4,932 3.02%
SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 8 $1,720,000 $215,000 $8,548 3.40%
Sandpoint, ID (FHA|USDA|VA) 5 $1,695,000 $339,000 $8,501 3.25%
Granbury, TX (FHA|USDA|VA) 5 $1,675,000 $335,000 $7,750 2.90%
TYLER, TX (FHA|USDA|VA) 5 $1,655,000 $331,000 $7,590 3.60%
DAYTON-KETTERING, OH (FHA|USDA|VA) 8 $1,640,000 $205,000 $5,997 3.22%
Port Angeles, WA (FHA|USDA|VA) 4 $1,640,000 $410,000 $5,759 3.12%
Albertville, AL (FHA|USDA|VA) 6 $1,630,000 $271,667 $7,180 2.98%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 5 $1,565,000 $313,000 $8,950 3.12%
Brookings, OR (FHA|USDA|VA) 5 $1,525,000 $305,000 $6,475 3.15%
Show Low, AZ (FHA|USDA|VA) 6 $1,520,000 $253,333 $4,928 3.21%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 6 $1,510,000 $251,667 $6,804 3.10%
Tullahoma-Manchester, TN (FHA|USDA|VA) 6 $1,500,000 $250,000 $6,689 3.38%
WALLA WALLA, WA (FHA|USDA|VA) 8 $1,390,000 $173,750 $6,437 2.62%
Elko, NV (FHA|USDA|VA) 4 $1,370,000 $342,500 $7,420 2.69%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 5 $1,355,000 $271,000 $5,474 3.22%
TULSA, OK (FHA|USDA|VA) 6 $1,350,000 $225,000 $6,756 3.37%
Stephenville, TX (FHA|USDA|VA) 7 $1,335,000 $190,714 $7,612 3.34%
MADISON, WI (FHA|USDA|VA) 4 $1,290,000 $322,500 $3,779 3.00%
Winnemucca, NV (FHA|USDA|VA) 7 $1,285,000 $183,571 $7,240 3.46%
Steamboat Springs, CO (FHA|USDA|VA) 2 $1,270,000 $635,000 $8,813 3.19%
MONROE, MI (FHA|USDA|VA) 5 $1,265,000 $253,000 $3,884 3.03%
SALT LAKE CITY, UT (FHA|USDA|VA) 4 $1,250,000 $312,500 $5,391 2.94%
TOLEDO, OH (FHA|USDA|VA) 4 $1,250,000 $312,500 $5,995 2.94%
SPRINGFIELD, MO (FHA|USDA|VA) 4 $1,210,000 $302,500 $6,787 3.06%
Aberdeen, WA (FHA|USDA|VA) 8 $1,200,000 $150,000 $9,231 2.09%
ST. GEORGE, UT (FHA|USDA|VA) 4 $1,160,000 $290,000 $4,635 3.19%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 4 $1,160,000 $290,000 $3,053 2.97%
Othello, WA (FHA|USDA|VA) 8 $1,100,000 $137,500 $6,643 2.14%
Shelton, WA (FHA|USDA|VA) 4 $1,090,000 $272,500 $9,947 2.38%
JACKSONVILLE, FL (FHA|USDA|VA) 6 $1,070,000 $178,333 $4,490 3.46%
WARNER ROBINS, GA (FHA|USDA|VA) 5 $1,045,000 $209,000 $7,832 3.55%
RICHMOND, VA (FHA|USDA|VA) 3 $1,045,000 $348,333 $6,595 2.79%
Bonham, TX (FHA|USDA|VA) 6 $1,040,000 $173,333 $4,645 3.39%
GRAND JUNCTION, CO (FHA|USDA|VA) 3 $1,025,000 $341,667 $9,392 3.63%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $980,000 $490,000 $7,999 3.19%
COLUMBUS, OH (FHA|USDA|VA) 3 $975,000 $325,000 $5,062 3.21%
RALEIGH-CARY, NC (FHA|USDA|VA) 3 $975,000 $325,000 $6,462 2.95%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $930,000 $232,500 $4,904 3.75%
WENATCHEE, WA (FHA|USDA|VA) 2 $930,000 $465,000 $8,565 3.38%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 2 $870,000 $435,000 $7,995 3.31%
NILES, MI (FHA|USDA|VA) 3 $845,000 $281,667 $5,410 3.21%
The Dalles, OR (FHA|USDA|VA) 3 $825,000 $275,000 $6,023 3.21%
Bozeman, MT (FHA|USDA|VA) 2 $820,000 $410,000 $3,564 3.06%
CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $810,000 $405,000 $9,414 3.31%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 2 $790,000 $395,000 $8,510 2.99%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 5 $785,000 $157,000 $4,439 2.97%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 3 $775,000 $258,333 $6,598 2.75%
Summerville, GA (FHA|USDA|VA) 5 $765,000 $153,000 $5,545 3.60%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 3 $755,000 $251,667 $5,253 3.21%
PROVO-OREM, UT (FHA|USDA|VA) 2 $750,000 $375,000 $10,018 3.12%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 3 $705,000 $235,000 $5,246 3.17%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $680,000 $340,000 $4,865 3.44%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $670,000 $335,000 $3,707 3.18%
DECATUR, AL (FHA|USDA|VA) 3 $655,000 $218,333 $3,608 3.38%
KNOXVILLE, TN (FHA|USDA|VA) 4 $650,000 $162,500 $4,654 3.31%
YUMA, AZ (FHA|USDA|VA) 2 $640,000 $320,000 $4,314 3.06%
Lewisburg, TN (FHA|USDA|VA) 4 $630,000 $157,500 $5,389 3.13%
Traverse City, MI (FHA|USDA|VA) 3 $625,000 $208,333 $4,359 3.12%
La Grande, OR (FHA|USDA|VA) 2 $610,000 $305,000 $4,980 2.88%
Payson, AZ (FHA|USDA|VA) 2 $610,000 $305,000 $4,017 2.99%
PUNTA GORDA, FL (FHA|USDA|VA) 2 $590,000 $295,000 $0 4.44%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 2 $580,000 $290,000 $5,242 3.38%
Kalispell, MT (FHA|USDA|VA) 2 $570,000 $285,000 $8,574 3.19%
Edwards, CO (FHA|USDA|VA) 1 $565,000 $565,000 $8,052 2.88%
Gainesville, TX (FHA|USDA|VA) 1 $545,000 $545,000 $5,626 2.88%
Palestine, TX (FHA|USDA|VA) 1 $545,000 $545,000 $15,594 3.13%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $535,000 $535,000 $0 3.38%
Breckenridge, CO (FHA|USDA|VA) 2 $530,000 $265,000 $4,631 2.94%
JACKSONVILLE, NC (FHA|USDA|VA) 2 $500,000 $250,000 $6,423 2.81%
AKRON, OH (FHA|USDA|VA) 2 $500,000 $250,000 $5,791 3.12%
Wilmington, OH (FHA|USDA|VA) 3 $495,000 $165,000 $6,565 3.33%
Glenwood Springs, CO (FHA|USDA|VA) 1 $495,000 $495,000 $5,264 3.13%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 2 $490,000 $245,000 $3,487 4.12%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $490,000 $245,000 $8,000 3.13%
Wilson, NC (FHA|USDA|VA) 2 $490,000 $245,000 $7,662 3.81%
Lawrenceburg, TN (FHA|USDA|VA) 3 $475,000 $158,333 $3,435 3.04%
SUMTER, SC (FHA|USDA|VA) 2 $460,000 $230,000 $9,256 2.94%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $460,000 $230,000 $8,811 3.12%
Adrian, MI (FHA|USDA|VA) 4 $450,000 $112,500 $4,238 2.78%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $450,000 $225,000 $4,309 2.93%
Hailey, ID (FHA|USDA|VA) 1 $445,000 $445,000 $12,187 3.38%
ROCKY MOUNT, NC (FHA|USDA|VA) 5 $445,000 $89,000 $1,673 3.87%
Corsicana, TX (FHA|USDA|VA) 2 $440,000 $220,000 $6,617 3.13%
COLUMBUS, GA-AL (FHA|USDA|VA) 3 $435,000 $145,000 $7,160 4.17%
Rochelle, IL (FHA|USDA|VA) 3 $425,000 $141,667 $5,566 3.46%
JACKSON, MI (FHA|USDA|VA) 3 $425,000 $141,667 $3,886 2.83%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 2 $420,000 $210,000 $7,148 3.37%
Hermiston-Pendleton, OR (FHA|USDA|VA) 2 $420,000 $210,000 $5,339 3.44%
Columbus, MS (FHA|USDA|VA) 3 $415,000 $138,333 $6,602 3.16%
WINSTON-SALEM, NC (FHA|USDA|VA) 3 $415,000 $138,333 $5,045 2.83%
Nogales, AZ (FHA|USDA|VA) 3 $415,000 $138,333 $3,794 3.04%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $410,000 $205,000 $4,766 3.06%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $410,000 $205,000 $3,127 3.19%
Shelby, NC (FHA|USDA|VA) 2 $400,000 $200,000 $6,472 2.94%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $400,000 $200,000 $4,908 3.44%
BAY CITY, MI (FHA|USDA|VA) 4 $390,000 $97,500 $4,355 3.22%
Burley, ID (FHA|USDA|VA) 3 $385,000 $128,333 $10,686 3.17%
MANHATTAN, KS (FHA|USDA|VA) 1 $385,000 $385,000 $10,180 2.63%
BOWLING GREEN, KY (FHA|USDA|VA) 2 $380,000 $190,000 $3,750 2.56%
Albemarle, NC (FHA|USDA|VA) 3 $375,000 $125,000 $5,053 2.83%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $375,000 $375,000 $5,699 3.38%
FORT WAYNE, IN (FHA|USDA|VA) 2 $370,000 $185,000 $3,235 3.38%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $365,000 $365,000 $9,627 3.75%
BILLINGS, MT (FHA|USDA|VA) 1 $365,000 $365,000 $11,761 3.38%
Butte-Silver Bow, MT (FHA|USDA|VA) 1 $355,000 $355,000 $13,047 2.50%
COLUMBIA, MO (FHA|USDA|VA) 2 $350,000 $175,000 $2,209 3.31%
El Campo, TX (FHA|USDA|VA) 2 $350,000 $175,000 $6,577 2.88%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $350,000 $175,000 $5,026 3.44%
Whitewater, WI (FHA|USDA|VA) 1 $345,000 $345,000 $2,479 3.13%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $345,000 $345,000 $5,865 2.88%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $345,000 $345,000 $2,809 2.88%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $345,000 $345,000 $3,629 2.75%
MORRISTOWN, TN (FHA|USDA|VA) 1 $335,000 $335,000 $11,132 3.25%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $320,000 $160,000 $3,005 2.87%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $315,000 $315,000 $3,242 2.50%
OCALA, FL (FHA|USDA|VA) 2 $310,000 $155,000 $6,667 3.31%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 1 $305,000 $305,000 $14,515 3.00%
Opelousas, LA (FHA|USDA|VA) 1 $305,000 $305,000 $9,721 3.25%
Frankfort, KY (FHA|USDA|VA) 1 $295,000 $295,000 $5,975 2.75%
Fort Leonard Wood, MO (FHA|USDA|VA) 1 $295,000 $295,000 $12,092 3.13%
Bennettsville, SC (FHA|USDA|VA) 1 $285,000 $285,000 $9,636 3.25%
APPLETON, WI (FHA|USDA|VA) 1 $275,000 $275,000 $9,523 3.25%
ROME, GA (FHA|USDA|VA) 3 $275,000 $91,667 $6,509 2.42%
TEXARKANA, TX-AR (FHA|USDA|VA) 1 $275,000 $275,000 $14,736 3.75%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.50%
Mount Pleasant, TX (FHA|USDA|VA) 1 $275,000 $275,000 $7,242 2.88%
Mount Airy, NC (FHA|USDA|VA) 1 $275,000 $275,000 $12,249 2.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $275,000 $275,000 $5,048 3.13%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $275,000 $275,000 $3,687 3.25%
Natchez, MS-LA (FHA|USDA|VA) 2 $260,000 $130,000 $6,702 3.50%
Freeport, IL (FHA|USDA|VA) 6 $260,000 $43,333 $4,367 2.21%
Greeneville, TN (FHA|USDA|VA) 1 $255,000 $255,000 $3,508 3.50%
Gaffney, SC (FHA|USDA|VA) 1 $255,000 $255,000 $13,526 2.99%
ODESSA, TX (FHA|USDA|VA) 1 $255,000 $255,000 $11,902 3.38%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $255,000 $255,000 $9,444 3.50%
LUBBOCK, TX (FHA|USDA|VA) 2 $250,000 $125,000 $7,366 3.56%
WILMINGTON, NC (FHA|USDA|VA) 2 $250,000 $125,000 $3,571 2.81%
EL PASO, TX (FHA|USDA|VA) 1 $245,000 $245,000 $9,292 2.99%
Jacksonville, TX (FHA|USDA|VA) 1 $245,000 $245,000 $0 4.00%
ROCHESTER, MN (FHA|USDA|VA) 1 $245,000 $245,000 $11,643 3.75%
Vernal, UT (FHA|USDA|VA) 1 $245,000 $245,000 $16,162 2.63%
SAVANNAH, GA (FHA|USDA|VA) 2 $240,000 $120,000 $6,278 3.69%
Kendallville, IN (FHA|USDA|VA) 1 $235,000 $235,000 $4,602 3.38%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $235,000 $235,000 $2,785 2.63%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $225,000 $225,000 $11,298 4.25%
VICTORIA, TX (FHA|USDA|VA) 1 $225,000 $225,000 $6,510 3.13%
TOPEKA, KS (FHA|USDA|VA) 1 $225,000 $225,000 $2,313 3.38%
CHEYENNE, WY (FHA|USDA|VA) 1 $225,000 $225,000 $6,472 3.13%
Batesville, AR (FHA|USDA|VA) 2 $210,000 $105,000 $3,014 4.13%
DUBUQUE, IA (FHA|USDA|VA) 1 $205,000 $205,000 $2,155 3.13%
Bartlesville, OK (FHA|USDA|VA) 1 $195,000 $195,000 $5,147 3.50%
SIOUX FALLS, SD (FHA|USDA|VA) 2 $190,000 $95,000 $5,257 3.50%
Cedartown, GA (FHA|USDA|VA) 1 $185,000 $185,000 $7,418 2.50%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $185,000 $185,000 $9,919 3.25%
ALBUQUERQUE, NM (FHA|USDA|VA) 2 $180,000 $90,000 $4,529 3.69%
GAINESVILLE, GA (FHA|USDA|VA) 1 $175,000 $175,000 $3,345 2.88%
Branson, MO (FHA|USDA|VA) 1 $175,000 $175,000 $2,454 3.25%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $175,000 $175,000 $2,864 3.25%
Henderson, NC (FHA|USDA|VA) 1 $175,000 $175,000 $0 2.99%
IOWA CITY, IA (FHA|USDA|VA) 1 $175,000 $175,000 $6,088 3.38%
Mason City, IA (FHA|USDA|VA) 1 $175,000 $175,000 $2,810 3.25%
Durant, OK (FHA|USDA|VA) 1 $175,000 $175,000 $4,642 3.63%
SAGINAW, MI (FHA|USDA|VA) 1 $165,000 $165,000 $3,296 2.99%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $165,000 $165,000 $4,562 2.99%
Athens, TN (FHA|USDA|VA) 1 $165,000 $165,000 $9,554 4.25%
Ardmore, OK (FHA|USDA|VA) 1 $165,000 $165,000 $3,860 3.38%
MUSKEGON, MI (FHA|USDA|VA) 1 $165,000 $165,000 $5,379 2.88%
RAPID CITY, SD (FHA|USDA|VA) 1 $155,000 $155,000 $4,301 3.99%
Spirit Lake, IA (FHA|USDA|VA) 1 $155,000 $155,000 $2,586 2.99%
Orangeburg, SC (FHA|USDA|VA) 1 $155,000 $155,000 $6,941 3.75%
LOGAN, UT-ID (FHA|USDA|VA) 1 $145,000 $145,000 $7,814 3.13%
Charleston-Mattoon, IL (FHA|USDA|VA) 1 $145,000 $145,000 $1,288 2.38%
Fort Payne, AL (FHA|USDA|VA) 1 $145,000 $145,000 $4,602 4.88%
Brenham, TX (FHA|USDA|VA) 1 $145,000 $145,000 $4,779 2.25%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.99%
Huntsville, TX (FHA|USDA|VA) 1 $145,000 $145,000 $8,556 3.88%
Kerrville, TX (FHA|USDA|VA) 1 $135,000 $135,000 $0 4.63%
Ludington, MI (FHA|USDA|VA) 1 $135,000 $135,000 $2,519 2.75%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.63%
MONTGOMERY, AL (FHA|USDA|VA) 2 $130,000 $65,000 $0 3.94%
Picayune, MS (FHA|USDA|VA) 1 $125,000 $125,000 $7,650 3.75%
Cadillac, MI (FHA|USDA|VA) 1 $125,000 $125,000 $4,947 2.88%
ALBANY, GA (FHA|USDA|VA) 2 $120,000 $60,000 $2,670 1.94%
NEW BERN, NC (FHA|USDA|VA) 1 $105,000 $105,000 $3,548 3.25%
Paris, TN (FHA|USDA|VA) 1 $105,000 $105,000 $7,298 2.88%
Hillsdale, MI (FHA|USDA|VA) 1 $105,000 $105,000 $2,396 2.38%
MIDLAND, TX (FHA|USDA|VA) 1 $105,000 $105,000 $4,746 2.99%
Gillette, WY (FHA|USDA|VA) 1 $95,000 $95,000 $4,218 3.25%
Sault Ste. Marie, MI (FHA|USDA|VA) 1 $95,000 $95,000 $6,724 3.25%
Scottsboro, AL (FHA|USDA|VA) 1 $95,000 $95,000 $4,721 4.25%
Dayton, TN (FHA|USDA|VA) 1 $85,000 $85,000 $4,155 3.38%
Campbellsville, KY (FHA|USDA|VA) 1 $75,000 $75,000 $6,030 3.75%
WICHITA, KS (FHA|USDA|VA) 1 $65,000 $65,000 $2,172 3.38%
RACINE, WI (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.63%

Summit Funding 's top markets include Sacramento, Eugene, San Francisco, San Diego, and Dallas among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 18,823 $6,301,385,000 $334,770 $6,016 2.98%
FHA 3,293 $924,535,000 $280,758 $11,223 3.35%
VA 1,322 $530,840,000 $401,543 $9,482 2.94%
USDA 209 $47,265,000 $226,148 $7,455 3.13%

For the 2021 period, Summit Funding 's most frequently originated loan type of loans were Conventional, with 18,823 originations. Their 2nd most popular type is FHA, with 3,293 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 13,863 $4,651,185,000 $335,511 $7,960 2.99%
Refi 5,785 $1,884,435,000 $325,745 $5,297 3.02%
Cash Out Refi 3,832 $1,220,660,000 $318,544 $6,566 3.21%
Other 157 $44,915,000 $286,083 $5,569 3.18%
Home Improvement 10 $2,830,000 $283,000 $4,039 3.49%

For the 2021, Summit Funding 's most frequently cited loan purpose of loans were Home Purchase, with 13,863 originations. The 2nd most popular reason of loans were Refi, with 5,785 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 21,347 $7,347,595,000 $344,198 $7,237 3.11%
15 Year 1,182 $296,420,000 $250,778 $4,622 2.59%
20 Year 406 $104,180,000 $256,601 $5,046 3.00%
10 Year 327 $18,465,000 $56,468 $3,803 2.03%
3 Year 190 $2,070,000 $10,895 $0 0.02%
Other 174 $35,180,000 $202,184 $5,326 2.27%
5 Year 21 $115,000 $5,476 $0 0.00%

For the 2021, Summit Funding 's most frequently cited loan length of loans were 30 Year, with 21,347 originations. The 2nd most popular length of loans were 15 Year, with 1,182 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 6,804 $2,467,950,000 $362,720
$3k-4k 5,614 $1,764,620,000 $314,325
$5k+ 4,242 $1,835,600,000 $432,720
$2k-3k 3,727 $1,114,345,000 $298,992
$<1k 2,044 $295,000,000 $144,325

$7,237 of loans were Summit Funding 's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 6,804 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 11,744 $3,927,280,000 $334,407
2.5-3% 8,651 $3,207,235,000 $370,736
<2.5% 2,393 $464,205,000 $193,985
4-5% 813 $204,825,000 $251,937
5-6% 40 $430,000 $10,750
7-8% 2 $20,000 $10,000

During 2021, Summit Funding 's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 3-4%, with 11,744 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 11,587 $3,416,425,000 $294,850 $6,953 3.18%
$400k-600k 5,220 $2,522,830,000 $483,301 $7,806 3.11%
$100k-200k 3,697 $584,745,000 $158,167 $5,069 3.21%
$100,000 or less 1,617 $44,875,000 $27,752 $4,019 1.30%
$600k-1MM 1,310 $949,780,000 $725,023 $9,384 3.04%
$1MM+ 216 $285,370,000 $1,321,157 $14,031 2.88%

2021 saw Summit Funding place emphasis on $200k-400k loans with 11,587 originations, totaling $3,416,425,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 5,584 $1,347,080,000 $241,239 $7,021 2.99%
$100k-150k 5,300 $1,983,960,000 $374,332 $7,232 3.09%
$75k-100k 4,744 $1,443,750,000 $304,332 $7,345 3.03%
$150k-250k 3,377 $1,562,275,000 $462,622 $7,146 3.10%
$50k or less 2,795 $470,935,000 $168,492 $5,905 2.98%
$250k+ 1,276 $786,130,000 $616,089 $8,111 3.08%

Summit Funding lent most frequently to those with incomes in the $50k-75k range, with 5,584 originations. The second most popular income band? $100k-150k, with 5,300 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 4,056 $1,351,940,000 $333,319 $6,506 3.07%
20-30% 4,026 $1,390,390,000 $345,353 $6,044 3.06%
44% 1,276 $385,940,000 $302,461 $7,521 2.96%
50-60% 1,268 $377,100,000 $297,397 $11,134 2.95%
43% 1,121 $338,665,000 $302,110 $7,302 2.98%
<20% 1,114 $360,410,000 $323,528 $5,364 3.00%
42% 1,062 $360,460,000 $339,416 $7,338 3.04%
41% 1,027 $346,135,000 $337,035 $7,249 3.03%
49% 1,008 $331,220,000 $328,591 $7,805 3.04%
39% 991 $321,805,000 $324,728 $7,072 3.01%
40% 945 $316,255,000 $334,661 $6,906 3.05%
38% 850 $292,070,000 $343,612 $6,983 3.08%
37% 824 $275,300,000 $334,102 $7,022 3.08%
36% 816 $270,970,000 $332,071 $6,967 3.02%
45% 810 $267,450,000 $330,185 $7,299 3.10%
48% 725 $234,325,000 $323,207 $7,589 3.01%
46% 708 $230,460,000 $325,508 $7,393 3.07%
47% 638 $208,980,000 $327,555 $7,747 3.03%
>60% 60 $28,060,000 $467,667 $11,620 3.03%

Summit Funding lent most frequently to those with DTI ratios of 30-36%, with 4,056 originations. The next most common DTI ratio? 20-30%, with 4,026 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 17,814 $5,801,340,000 $325,662 $6,885 3.04%
Not provided 2,991 $1,042,485,000 $348,541 $7,470 3.00%
Asian 1,046 $447,310,000 $427,639 $7,220 3.04%
Black 1,346 $348,510,000 $258,923 $7,824 2.98%
American Indian 221 $71,765,000 $324,729 $7,704 3.13%
Native Hawaiian 79 $28,075,000 $355,380 $6,913 3.14%
Asian Indian 48 $22,600,000 $470,833 $7,899 2.97%
Filipino 33 $13,075,000 $396,212 $8,206 3.10%
Other Asian 28 $12,020,000 $429,286 $7,853 3.05%
Chinese 11 $5,445,000 $495,000 $6,222 3.42%
Korean 7 $3,345,000 $477,857 $8,171 3.07%
Other Pacific Islander 8 $2,380,000 $297,500 $7,843 3.26%
Vietnamese 4 $2,250,000 $562,500 $12,208 3.15%
Japanese 4 $1,450,000 $362,500 $8,513 2.81%
Guamanian 5 $1,425,000 $285,000 $8,439 2.75%
Samoan 2 $550,000 $275,000 $10,940 3.00%

Approval Rates

Total approvals of all applications
96.14%

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 origination
74.32%

Summit Funding has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 23,647 $7,804,025,000 $330,022

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
23,647 $7,804,025,000 $330,022

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 1,023 $237,745,000 $232,400 $4,573 3.00%
40-60% 3,038 $959,110,000 $315,704 $5,183 3.02%
60-80% 7,484 $2,766,050,000 $369,595 $6,346 3.18%
80-100% 10,286 $3,607,370,000 $350,707 $8,031 3.22%
Over 100% 298 $120,640,000 $404,832 $15,515 3.08%
Under 20% 1,287 $28,355,000 $22,032 $5,057 0.78%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SUMMIT FUNDING, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 12.5%
SUMMIT FUNDING, INC. Conventional home mortgage Struggling to pay mortgage 2 25.0%
SUMMIT FUNDING, INC. Conventional home mortgage Trouble during payment process 4 50.0%
SUMMIT FUNDING, INC. VA mortgage Struggling to pay mortgage 1 12.5%