Summit Funding Mortgage Rates, Fees & Info
Sacramento, CALEI: 5493008VVXQIDO1EZ460
Tax ID: 91-1780488
2.3 stars - Updated: 4/5/25
-
out of 5 stars, based on 77 reviews
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Summit Funding is a small 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: Eugene, Kansas City, Chicago, Chattanooga, and Sacramento among others. We have data for 291 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.72% | 4/5/25 |
| 30 Year Conventional Purchase | 6.53% | 4/5/25 |
| 30 Year Conventional Refi | 7.13% | 4/5/25 |
| 30 Year Cash-out Refi | 8.03% | 4/5/25 |
| 30 Year FHA Purchase | 7.49% | 4/5/25 |
| 30 Year FHA Refi | 7.10% | 4/5/25 |
| 30 Year VA Purchase | 6.54% | 4/5/25 |
| 30 Year VA Refi | 6.26% | 4/5/25 |
| 30 Year USDA Purchase | 7.00% | 4/5/25 |
| 15 Year Conventional Purchase | 6.01% | 4/5/25 |
| 15 Year Conventional Refi | 6.13% | 4/5/25 |
| 15 Year Cash-out Refi | 6.13% | 4/5/25 |
| 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
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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
5,889Origination Dollar Volume (All Markets)
$1,975,015,000Awards
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SUMMIT FUNDING - 2024
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For 2024, 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
6.47%.
The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.
This yields a difference of -0.08%.
Relative Fees (Closing Costs)
Summit Funding's average total fees/closing costs for a 30 year fixed rate
mortgage were $11,306.
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 $8,356.
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 |
|---|---|---|---|---|---|
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 417 | $159,705,000 | $382,986 | $12,836 | 6.52% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 386 | $115,560,000 | $299,378 | $5,847 | 6.56% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 206 | $84,840,000 | $411,845 | $8,499 | 6.76% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 277 | $72,685,000 | $262,401 | $9,689 | 6.54% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 170 | $69,840,000 | $410,824 | $12,068 | 6.33% |
| STOCKTON, CA (FHA|USDA|VA) | 165 | $62,985,000 | $381,727 | $13,585 | 6.25% |
| Outside of Metro Areas | 247 | $62,405,000 | $252,652 | $10,881 | 6.18% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 73 | $58,215,000 | $797,466 | $18,222 | 7.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 146 | $52,780,000 | $361,507 | $10,831 | 6.62% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 132 | $44,990,000 | $340,833 | $13,067 | 6.40% |
| Klamath Falls, OR (FHA|USDA|VA) | 149 | $41,355,000 | $277,550 | $10,517 | 6.65% |
| RENO, NV (FHA|USDA|VA) | 109 | $40,465,000 | $371,239 | $13,574 | 6.06% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 130 | $39,150,000 | $301,154 | $14,465 | 5.26% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 154 | $38,760,000 | $251,688 | $13,936 | 4.89% |
| SALINAS, CA (FHA|USDA|VA) | 77 | $38,005,000 | $493,571 | $13,939 | 6.96% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 100 | $34,960,000 | $349,600 | $9,905 | 6.77% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 40 | $28,320,000 | $708,000 | $22,642 | 6.95% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 70 | $27,450,000 | $392,143 | $16,446 | 6.27% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 66 | $26,750,000 | $405,303 | $12,590 | 6.71% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 78 | $26,690,000 | $342,179 | $10,716 | 5.38% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 72 | $26,170,000 | $363,472 | $7,967 | 6.58% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 58 | $25,120,000 | $433,103 | $12,785 | 6.61% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 75 | $24,975,000 | $333,000 | $11,074 | 7.18% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 77 | $23,535,000 | $305,649 | $8,327 | 5.78% |
| BOISE CITY, ID (FHA|USDA|VA) | 63 | $22,475,000 | $356,746 | $12,925 | 6.94% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 50 | $21,370,000 | $427,400 | $10,328 | 6.62% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 74 | $21,210,000 | $286,622 | $10,873 | 6.13% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 52 | $19,050,000 | $366,346 | $6,942 | 6.20% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 53 | $18,395,000 | $347,075 | $12,279 | 6.27% |
| TUCSON, AZ (FHA|USDA|VA) | 60 | $17,500,000 | $291,667 | $11,230 | 6.19% |
| BEND, OR (FHA|USDA|VA) | 35 | $17,455,000 | $498,714 | $12,275 | 6.94% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 23 | $17,385,000 | $755,870 | $16,952 | 7.01% |
| Centralia, WA (FHA|USDA|VA) | 55 | $17,185,000 | $312,455 | $13,049 | 6.12% |
| REDDING, CA (FHA|USDA|VA) | 55 | $16,905,000 | $307,364 | $12,701 | 6.31% |
| Outside of Metro Areas | 44 | $16,730,000 | $380,227 | $13,012 | 6.94% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 31 | $15,425,000 | $497,581 | $9,783 | 6.36% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 57 | $15,245,000 | $267,456 | $13,607 | 4.95% |
| Roseburg, OR (FHA|USDA|VA) | 46 | $14,590,000 | $317,174 | $10,702 | 6.51% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 18 | $13,310,000 | $739,444 | $16,044 | 6.63% |
| DALTON, GA (FHA|USDA|VA) | 63 | $13,295,000 | $211,032 | $8,981 | 6.94% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 29 | $12,945,000 | $446,379 | $14,229 | 6.80% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 61 | $12,635,000 | $207,131 | $9,859 | 5.45% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 29 | $12,205,000 | $420,862 | $11,816 | 6.55% |
| WACO, TX (FHA|USDA|VA) | 59 | $12,195,000 | $206,695 | $10,344 | 5.22% |
| LAREDO, TX (FHA|USDA|VA) | 64 | $11,990,000 | $187,344 | $10,579 | 5.04% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 18 | $10,560,000 | $586,667 | $18,063 | 6.14% |
| SALEM, OR (FHA|USDA|VA) | 27 | $10,365,000 | $383,889 | $17,492 | 6.24% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 43 | $10,245,000 | $238,256 | $13,739 | 7.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 44 | $10,170,000 | $231,136 | $11,178 | 5.63% |
| POCATELLO, ID (FHA|USDA|VA) | 47 | $9,975,000 | $212,234 | $12,213 | 6.86% |
| SANTA FE, NM (FHA|USDA|VA) | 23 | $9,015,000 | $391,957 | $7,459 | 7.12% |
| ABILENE, TX (FHA|USDA|VA) | 37 | $8,675,000 | $234,459 | $9,523 | 6.50% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 32 | $7,810,000 | $244,063 | $7,637 | 6.85% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 19 | $7,635,000 | $401,842 | $12,665 | 7.97% |
| CLEVELAND, TN (FHA|USDA|VA) | 37 | $7,495,000 | $202,568 | $9,221 | 6.32% |
| GREELEY, CO (FHA|USDA|VA) | 20 | $7,230,000 | $361,500 | $10,629 | 5.49% |
| MEDFORD, OR (FHA|USDA|VA) | 19 | $7,055,000 | $371,316 | $13,257 | 6.84% |
| SAVANNAH, GA (FHA|USDA|VA) | 27 | $6,745,000 | $249,815 | $10,284 | 6.55% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 19 | $6,735,000 | $354,474 | $14,660 | 6.62% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 20 | $6,520,000 | $326,000 | $7,530 | 6.56% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 10 | $6,290,000 | $629,000 | $17,794 | 8.30% |
| MODESTO, CA (FHA|USDA|VA) | 16 | $6,230,000 | $389,375 | $13,639 | 6.67% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 10 | $6,200,000 | $620,000 | $18,708 | 7.10% |
| EL PASO, TX (FHA|USDA|VA) | 26 | $5,750,000 | $221,154 | $10,072 | 6.15% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 17 | $5,725,000 | $336,765 | $6,781 | 5.67% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 11 | $5,445,000 | $495,000 | $7,142 | 7.28% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 6 | $5,390,000 | $898,333 | $26,037 | 7.33% |
| CORVALLIS, OR (FHA|USDA|VA) | 12 | $4,920,000 | $410,000 | $16,318 | 6.30% |
| FRESNO, CA (FHA|USDA|VA) | 12 | $4,730,000 | $394,167 | $11,630 | 7.07% |
| Fernley, NV (FHA|USDA|VA) | 18 | $4,640,000 | $257,778 | $14,018 | 5.46% |
| BATON ROUGE, LA (FHA|USDA|VA) | 27 | $4,505,000 | $166,852 | $8,391 | 4.70% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 6 | $4,500,000 | $750,000 | $32,753 | 4.71% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 7 | $4,345,000 | $620,714 | $13,517 | 7.00% |
| GAINESVILLE, GA (FHA|USDA|VA) | 13 | $4,285,000 | $329,615 | $8,953 | 6.93% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 26 | $4,270,000 | $164,231 | $6,519 | 5.99% |
| TYLER, TX (FHA|USDA|VA) | 20 | $4,040,000 | $202,000 | $11,448 | 4.94% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 8 | $3,830,000 | $478,750 | $13,394 | 7.05% |
| Red Bluff, CA (FHA|USDA|VA) | 15 | $3,825,000 | $255,000 | $11,719 | 6.18% |
| Rexburg, ID (FHA|USDA|VA) | 10 | $3,700,000 | $370,000 | $13,056 | 6.70% |
| COLUMBUS, OH (FHA|USDA|VA) | 16 | $3,680,000 | $230,000 | $8,594 | 5.90% |
| CARSON CITY, NV (FHA|USDA|VA) | 10 | $3,600,000 | $360,000 | $13,451 | 6.24% |
| VALLEJO, CA (FHA|USDA|VA) | 8 | $3,440,000 | $430,000 | $17,956 | 5.51% |
| BOULDER, CO (FHA|USDA|VA) | 12 | $3,390,000 | $282,500 | $6,639 | 6.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 12 | $3,350,000 | $279,167 | $9,687 | 6.03% |
| Susanville, CA (FHA|USDA|VA) | 16 | $3,170,000 | $198,125 | $10,595 | 6.55% |
| FORT COLLINS, CO (FHA|USDA|VA) | 9 | $3,165,000 | $351,667 | $10,876 | 5.40% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 10 | $3,030,000 | $303,000 | $9,372 | 6.47% |
| YUBA CITY, CA (FHA|USDA|VA) | 12 | $2,980,000 | $248,333 | $12,766 | 5.93% |
| RICHMOND, VA (FHA|USDA|VA) | 10 | $2,710,000 | $271,000 | $9,583 | 6.84% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 11 | $2,695,000 | $245,000 | $10,877 | 5.74% |
| YAKIMA, WA (FHA|USDA|VA) | 12 | $2,670,000 | $222,500 | $13,019 | 4.69% |
| HINESVILLE, GA (FHA|USDA|VA) | 12 | $2,520,000 | $210,000 | $9,283 | 6.21% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 7 | $2,445,000 | $349,286 | $10,641 | 5.51% |
| Hilo, HI (FHA|USDA|VA) | 4 | $2,420,000 | $605,000 | $15,037 | 6.96% |
| Ontario, OR-ID (FHA|USDA|VA) | 7 | $2,365,000 | $337,857 | $11,620 | 6.37% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 8 | $2,320,000 | $290,000 | $9,735 | 7.37% |
| COLUMBIA, SC (FHA|USDA|VA) | 9 | $2,215,000 | $246,111 | $8,529 | 6.96% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 6 | $2,190,000 | $365,000 | $11,906 | 6.46% |
| HAMMOND, LA (FHA|USDA|VA) | 17 | $2,185,000 | $128,529 | $10,556 | 4.37% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 7 | $2,125,000 | $303,571 | $6,499 | 7.21% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 5 | $2,125,000 | $425,000 | $11,811 | 6.53% |
| Warrensburg, MO (FHA|USDA|VA) | 8 | $2,120,000 | $265,000 | $5,496 | 6.65% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 8 | $2,110,000 | $263,750 | $9,219 | 6.44% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 7 | $2,095,000 | $299,286 | $7,285 | 7.23% |
| Shelby, NC (FHA|USDA|VA) | 8 | $2,040,000 | $255,000 | $8,513 | 6.69% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 6 | $1,980,000 | $330,000 | $9,285 | 7.04% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 4 | $1,940,000 | $485,000 | $7,988 | 6.34% |
| Sandpoint, ID (FHA|USDA|VA) | 5 | $1,895,000 | $379,000 | $18,336 | 6.55% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $1,875,000 | $1,875,000 | $0 | 7.50% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 14 | $1,860,000 | $132,857 | $8,918 | 4.60% |
| Blackfoot, ID (FHA|USDA|VA) | 8 | $1,850,000 | $231,250 | $11,242 | 6.63% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 8 | $1,840,000 | $230,000 | $7,158 | 6.37% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 6 | $1,770,000 | $295,000 | $12,607 | 7.54% |
| Fallon, NV (FHA|USDA|VA) | 6 | $1,760,000 | $293,333 | $15,123 | 5.52% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 6 | $1,710,000 | $285,000 | $12,171 | 7.81% |
| Ukiah, CA (FHA|USDA|VA) | 4 | $1,710,000 | $427,500 | $13,928 | 7.00% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $1,705,000 | $1,705,000 | $29,046 | 7.38% |
| MERCED, CA (FHA|USDA|VA) | 6 | $1,690,000 | $281,667 | $8,600 | 6.27% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 5 | $1,615,000 | $323,000 | $6,504 | 6.88% |
| Jefferson, GA (FHA|USDA|VA) | 5 | $1,575,000 | $315,000 | $8,283 | 7.12% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 6 | $1,560,000 | $260,000 | $7,814 | 4.58% |
| KNOXVILLE, TN (FHA|USDA|VA) | 6 | $1,560,000 | $260,000 | $9,306 | 6.75% |
| Moses Lake, WA (FHA|USDA|VA) | 12 | $1,530,000 | $127,500 | $9,430 | 4.19% |
| LONGVIEW, WA (FHA|USDA|VA) | 5 | $1,505,000 | $301,000 | $12,357 | 5.38% |
| Mountain Home, ID (FHA|USDA|VA) | 5 | $1,505,000 | $301,000 | $14,682 | 6.80% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 4 | $1,500,000 | $375,000 | $15,768 | 7.97% |
| Greeneville, TN (FHA|USDA|VA) | 5 | $1,475,000 | $295,000 | $12,537 | 6.47% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 4 | $1,460,000 | $365,000 | $11,785 | 6.56% |
| Newport, OR (FHA|USDA|VA) | 4 | $1,420,000 | $355,000 | $11,453 | 7.31% |
| WILMINGTON, NC (FHA|USDA|VA) | 3 | $1,345,000 | $448,333 | $4,935 | 6.54% |
| MORRISTOWN, TN (FHA|USDA|VA) | 4 | $1,340,000 | $335,000 | $12,569 | 5.34% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 2 | $1,320,000 | $660,000 | $15,390 | 6.75% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $1,295,000 | $431,667 | $16,624 | 6.79% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 2 | $1,240,000 | $620,000 | $8,690 | 7.19% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $1,235,000 | $1,235,000 | $0 | 8.25% |
| SPARTANBURG, SC (FHA|USDA|VA) | 5 | $1,215,000 | $243,000 | $10,797 | 6.84% |
| Forest City, NC (FHA|USDA|VA) | 6 | $1,200,000 | $200,000 | $9,488 | 6.33% |
| Statesboro, GA (FHA|USDA|VA) | 4 | $1,130,000 | $282,500 | $5,576 | 7.09% |
| Wilson, NC (FHA|USDA|VA) | 2 | $1,110,000 | $555,000 | $12,248 | 6.38% |
| GRANTS PASS, OR (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $11,862 | 6.96% |
| CHICO, CA (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $12,599 | 7.42% |
| Summerville, GA (FHA|USDA|VA) | 7 | $1,095,000 | $156,429 | $5,851 | 8.02% |
| Bonham, TX (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $14,285 | 7.21% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 6 | $1,090,000 | $181,667 | $8,675 | 7.04% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 4 | $1,070,000 | $267,500 | $8,275 | 7.28% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 3 | $1,045,000 | $348,333 | $12,545 | 6.50% |
| WALLA WALLA, WA (FHA|USDA|VA) | 4 | $1,040,000 | $260,000 | $8,752 | 5.56% |
| ROANOKE, VA (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $5,320 | 7.50% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 2 | $990,000 | $495,000 | $12,976 | 7.19% |
| BURLINGTON, NC (FHA|USDA|VA) | 6 | $970,000 | $161,667 | $6,061 | 4.73% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $9,343 | 6.88% |
| Athens, TX (FHA|USDA|VA) | 6 | $950,000 | $158,333 | $10,771 | 4.08% |
| Jackson, WY-ID (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $18,274 | 6.88% |
| Oak Harbor, WA (FHA|USDA|VA) | 2 | $930,000 | $465,000 | $14,702 | 6.44% |
| ROME, GA (FHA|USDA|VA) | 6 | $920,000 | $153,333 | $10,322 | 5.85% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 3 | $915,000 | $305,000 | $4,184 | 7.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 3 | $885,000 | $295,000 | $8,704 | 6.96% |
| VISALIA, CA (FHA|USDA|VA) | 2 | $870,000 | $435,000 | $9,248 | 7.13% |
| Astoria, OR (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $11,579 | 7.38% |
| Sulphur Springs, TX (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $13,060 | 6.49% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $8,013 | 6.78% |
| Elko, NV (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $11,274 | 4.71% |
| GOLDSBORO, NC (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $6,482 | 6.73% |
| Mount Airy, NC (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $6,217 | 6.79% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $800,000 | $400,000 | $11,927 | 7.56% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $6,015 | 7.44% |
| Prineville, OR (FHA|USDA|VA) | 2 | $780,000 | $390,000 | $16,644 | 6.63% |
| Key West, FL (FHA|USDA|VA) | 1 | $755,000 | $755,000 | $14,756 | 7.99% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $4,865 | 7.46% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $0 | 7.88% |
| Aberdeen, WA (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $14,429 | 6.79% |
| Rockport, TX (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $11,829 | 7.06% |
| Crescent City, CA (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $13,066 | 6.66% |
| Rockingham, NC (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $8,996 | 6.08% |
| Shelton, WA (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $12,609 | 6.13% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $20,117 | 6.25% |
| Boone, NC (FHA|USDA|VA) | 1 | $665,000 | $665,000 | $4,308 | 7.38% |
| Nogales, AZ (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $8,042 | 7.42% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $10,870 | 4.81% |
| GREENVILLE, NC (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $3,771 | 6.88% |
| MADERA, CA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $7,633 | 7.38% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $12,271 | 7.75% |
| Huntsville, TX (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $11,781 | 4.54% |
| LOGAN, UT-ID (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $9,848 | 7.56% |
| Kerrville, TX (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $12,102 | 6.75% |
| Thomasville, GA (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $11,346 | 7.13% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $585,000 | $585,000 | $17,165 | 7.88% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $9,342 | 8.13% |
| TULSA, OK (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $10,491 | 7.13% |
| TOPEKA, KS (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $4,437 | 6.75% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $3,117 | 6.75% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $5,539 | 7.13% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $9,613 | 6.75% |
| Morehead City, NC (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,894 | 7.50% |
| Ellensburg, WA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $12,322 | 7.06% |
| Gillette, WY (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $10,453 | 6.88% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $17,356 | 5.75% |
| Cullman, AL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $15,730 | 6.63% |
| Calhoun, GA (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 8.17% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $8,041 | 6.56% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $10,911 | 8.00% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $7,128 | 5.75% |
| Cornelia, GA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $10,220 | 6.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $18,823 | 6.69% |
| Freeport, IL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $6,506 | 7.25% |
| Las Vegas, NM (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $7,388 | 6.99% |
| Show Low, AZ (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $10,431 | 7.50% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $10,991 | 6.99% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 3.94% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $17,884 | 6.50% |
| Dayton, TN (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $16,726 | 5.75% |
| ROCKFORD, IL (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $0 | 5.00% |
| COLUMBIA, MO (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,249 | 8.38% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $18,193 | 5.75% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 7.50% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $13,922 | 6.63% |
| Elizabeth City, NC (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,424 | 6.63% |
| Ottawa, KS (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $4,268 | 6.75% |
| Corinth, MS (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $3,350 | 7.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $6,384 | 6.63% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $15,563 | 6.63% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $12,124 | 6.99% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $9,501 | 6.13% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 8.13% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $4,696 | 6.63% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $13,863 | 6.99% |
| The Dalles, OR (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $1,887 | 6.25% |
| Hailey, ID (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 5.75% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $900 | 6.63% |
| Pullman, WA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $12,453 | 3.50% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $8,643 | 4.88% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 7.13% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 6.63% |
| Athens, TN (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $6,024 | 4.38% |
| Marshall, MO (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $6,961 | 7.12% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $18,030 | 6.63% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,121 | 7.25% |
| Clearlake, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 7.50% |
| Eagle Pass, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $12,670 | 6.50% |
| Los Alamos, NM (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,433 | 7.63% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 8.50% |
| Albertville, AL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $6,695 | 6.63% |
| Martin, TN (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $11,200 | 3.19% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $11,387 | 5.75% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 7.63% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,092 | 7.25% |
| Sonora, CA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,071 | 6.63% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,408 | 6.99% |
| Bogalusa, LA (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $8,008 | 3.10% |
| Coos Bay, OR (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $9,649 | 6.99% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,487 | 6.63% |
| GREEN BAY, WI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,671 | 6.88% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,698 | 6.63% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,683 | 6.63% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $7,312 | 6.81% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 8.13% |
| BELLINGHAM, WA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,583 | 7.13% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 7.25% |
| Brookings, OR (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,533 | 6.88% |
| Newport, TN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $9,334 | 6.63% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $8,562 | 6.75% |
| Palestine, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $10,121 | 6.63% |
| Toccoa, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $11,024 | 6.00% |
| Henderson, NC (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $8,026 | 3.44% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $7,494 | 3.10% |
| DECATUR, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 7.75% |
| Martinsville, VA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,531 | 6.99% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $8,385 | 7.37% |
| Zanesville, OH (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 3.88% |
| Emporia, KS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,979 | 7.13% |
| Pittsburg, KS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 7.63% |
| Milledgeville, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,777 | 7.25% |
| Granbury, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $7,525 | 7.75% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,507 | 6.99% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,693 | 7.50% |
| Scottsboro, AL (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $2,317 | 3.63% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $7,262 | 7.63% |
| CHARLESTON, WV (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $8,890 | 6.25% |
| Kingsville, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $8,642 | 6.75% |
| Española, NM (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 7.63% |
| EL CENTRO, CA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,090 | 11.25% |
| Fort Payne, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $5,271 | 6.63% |
| Shawnee, OK (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.13% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,774 | 6.00% |
| Picayune, MS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $8,107 | 6.50% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,941 | 10.13% |
| CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 9.00% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $6,524 | 7.13% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 7.50% |
| Waycross, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $5,028 | 6.25% |
| Hood River, OR (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $4,907 | 9.38% |
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Product Mix
For 2024, Summit Funding's most frequently originated type of loan was Conventional, with 3,855 originations. Their 2nd most popular type was FHA, with 1,529 originations.
Loan Reason
For 2024, Summit Funding's most frequently cited loan purpose was Home Purchase, with 5,276 originations. The 2nd most popular reason was Refi, with 277 originations.
Loan Duration/Length
For 2024, Summit Funding's most frequently cited loan duration was 30 Year, with 5,510 originations. The 2nd most popular length was 15 Year, with 125 originations.
Origination Fees/Closing Costs
Summit Funding's average total fees were $11,306, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 2,538 originations.
Interest Rates
During 2024, Summit Funding's average interest rate for loans was 6.47%, while their most frequently originated rate bucket for loans was 6-7%, with 2,804 originations.
Loan Sizing
2024 saw Summit Funding place emphasis on $200k-400k loans with 2,764 originations, totaling $826,740,000 in origination value.
Applicant Income
Summit Funding lent most frequently to those with incomes in the $100k-150k range, with 1,559 originations. The second most popular income band? $75k-100k, with 1,222 originations.
Applicant Debt to Income Ratio
Summit Funding lent most frequently to those with DTI ratios of 50-60%, with 782 originations. The next most common DTI ratio? 30-36%, with 725 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.74%
Summit Funding has an average approval rate.
Pick Rate
Approvals leading to origination67.46%
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 | 5,889 | $1,975,015,000 | $335,374 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5,889 | $1,975,015,000 | $335,374 |