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

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Review & 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 by origination volume include: Sacramento, Eugene, San Francisco, San Diego, and Dallas among others. We have data for 326 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) 6.02% 9/29/22
    30 Year Conventional Purchase 6.41% 9/29/22
    30 Year Conventional Refi 6.30% 9/29/22
    30 Year Cash-out Refi 6.48% 9/29/22
    30 Year FHA Purchase 7.57% 9/29/22
    30 Year FHA Refi 7.10% 9/29/22
    30 Year VA Purchase 6.29% 9/29/22
    30 Year VA Refi 5.87% 9/29/22
    30 Year USDA Purchase 6.78% 9/29/22
    30 Year USDA Refi 6.62% 9/29/22
    15 Year Conventional Purchase 5.84% 9/29/22
    15 Year Conventional Refi 5.84% 9/29/22
    15 Year Cash-out Refi 5.84% 9/29/22
    15 Year FHA Purchase 6.97% 9/29/22
    15 Year FHA Refi 6.87% 9/29/22
    15 Year VA Purchase 6.08% 9/29/22
    15 Year VA Refi 5.77% 9/29/22
    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.


    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 mortgage rate was 3.11%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.04%.

    Relative Fees (Closing Costs)

    Summit Funding 's average total fees/closing costs for a 30 year fixed rate mortgage were $7,237.

    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) 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.

    Similar Lenders

    We use machine learning to identify the top lenders compared against SUMMIT FUNDING based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HONOLULU
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Summit Funding 's most frequently originated type of loan was Conventional, with 18,823 originations. Their 2nd most popular type was FHA, with 3,293 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Summit Funding 's most frequently cited loan purpose was Home Purchase, with 13,863 originations. The 2nd most popular reason was 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 2021, Summit Funding 's most frequently cited loan duration was 30 Year, with 21,347 originations. The 2nd most popular length was 15 Year, with 1,182 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 6,804 $2,467,950,000 $362,720
    $5k+ 4,242 $1,835,600,000 $432,720
    $2k-3k 3,727 $1,114,345,000 $298,992
    $3k-4k 3,213 $981,755,000 $305,557
    $4k-5k 2,401 $782,865,000 $326,058
    $<1k 2,044 $295,000,000 $144,325

    Summit Funding 's average total fees were $7,237, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.11%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    95.96%

    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
    72.96%

    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%