Summit Funding Mortgage Rates, Fees & Info
Sacramento, CALEI: 5493008VVXQIDO1EZ460
Tax ID: 91-1780488
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Mortgage Data
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: San Francisco, Sacramento, San Diego, Stockton, and Eugene among others. We have data for 293 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 an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/22/24 |
| 30 Year Conventional Purchase | 6.65% | 4/22/24 |
| 30 Year Conventional Refi | 6.71% | 4/22/24 |
| 30 Year Cash-out Refi | 6.97% | 4/22/24 |
| 30 Year FHA Purchase | 7.77% | 4/22/24 |
| 30 Year FHA Refi | 7.48% | 4/22/24 |
| 30 Year VA Purchase | 6.56% | 4/22/24 |
| 30 Year VA Refi | 6.23% | 4/22/24 |
| 30 Year USDA Purchase | 7.01% | 4/22/24 |
| 15 Year Conventional Purchase | 6.57% | 4/22/24 |
| 15 Year Conventional Refi | 6.31% | 4/22/24 |
| 15 Year Cash-out Refi | 6.31% | 4/22/24 |
| 15 Year FHA Purchase | 5.68% | 4/22/24 |
| 15 Year VA Purchase | 5.68% | 4/22/24 |
| 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
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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
25,437Origination Dollar Volume (All Markets)
$7,709,485,000Awards
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SUMMIT FUNDING - 2020
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For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1,215 | $616,075,000 | $507,058 | $7,424 | 3.14% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1,810 | $597,690,000 | $330,215 | $5,928 | 3.07% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 951 | $451,435,000 | $474,695 | $6,378 | 3.12% |
| STOCKTON, CA (FHA|USDA|VA) | 1,339 | $420,915,000 | $314,350 | $7,336 | 3.04% |
| EUGENE-SPRINGFIELD, OR (FHA|USDA|VA) | 1,213 | $362,775,000 | $299,073 | $6,883 | 3.26% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1,602 | $351,700,000 | $219,538 | $4,573 | 3.36% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 934 | $333,370,000 | $356,927 | $5,192 | 3.21% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1,006 | $321,250,000 | $319,334 | $7,936 | 3.21% |
| CHICO, CA (FHA|USDA|VA) | 905 | $283,175,000 | $312,901 | $4,712 | 3.28% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 557 | $260,925,000 | $468,447 | $8,925 | 3.08% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 752 | $224,300,000 | $298,271 | $6,559 | 3.08% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 821 | $211,855,000 | $258,045 | $5,728 | 3.20% |
| RENO, NV (FHA|USDA|VA) | 681 | $192,405,000 | $282,533 | $6,337 | 3.09% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 760 | $192,300,000 | $253,026 | $6,019 | 3.32% |
| TUCSON, AZ (FHA|USDA|VA) | 827 | $168,955,000 | $204,299 | $6,593 | 3.10% |
| SALINAS, CA (FHA|USDA|VA) | 393 | $166,385,000 | $423,372 | $5,963 | 3.10% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 348 | $159,430,000 | $458,132 | $7,047 | 3.13% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 682 | $148,050,000 | $217,082 | $6,721 | 2.73% |
| Outside of Metro Areas | 620 | $143,460,000 | $231,387 | $5,998 | 3.28% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 434 | $119,160,000 | $274,562 | $5,728 | 3.30% |
| BOISE CITY, ID (FHA|USDA|VA) | 442 | $111,670,000 | $252,647 | $7,763 | 3.24% |
| VALLEJO, CA (FHA|USDA|VA) | 299 | $108,105,000 | $361,555 | $6,357 | 3.17% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 468 | $83,780,000 | $179,017 | $7,113 | 3.43% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 244 | $82,270,000 | $337,172 | $6,337 | 3.20% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 243 | $74,435,000 | $306,317 | $6,922 | 2.80% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 358 | $73,820,000 | $206,201 | $4,988 | 3.04% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 140 | $70,890,000 | $506,357 | $6,402 | 3.28% |
| MODESTO, CA (FHA|USDA|VA) | 278 | $69,380,000 | $249,568 | $7,048 | 2.92% |
| BEND, OR (FHA|USDA|VA) | 174 | $59,770,000 | $343,506 | $7,417 | 3.22% |
| Centralia, WA (FHA|USDA|VA) | 199 | $53,375,000 | $268,216 | $6,088 | 3.05% |
| REDDING, CA (FHA|USDA|VA) | 200 | $52,850,000 | $264,250 | $6,305 | 3.28% |
| MERCED, CA (FHA|USDA|VA) | 184 | $50,880,000 | $276,522 | $6,992 | 3.12% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 159 | $49,885,000 | $313,742 | $5,602 | 3.29% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 194 | $43,390,000 | $223,660 | $6,181 | 2.98% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 210 | $42,170,000 | $200,810 | $5,230 | 3.48% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 130 | $40,620,000 | $312,462 | $5,668 | 2.93% |
| FRESNO, CA (FHA|USDA|VA) | 132 | $37,270,000 | $282,348 | $4,265 | 3.00% |
| Fernley, NV (FHA|USDA|VA) | 166 | $37,110,000 | $223,554 | $7,124 | 3.10% |
| Red Bluff, CA (FHA|USDA|VA) | 126 | $32,600,000 | $258,730 | $5,471 | 3.27% |
| SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) | 64 | $31,860,000 | $497,813 | $6,149 | 3.17% |
| BATON ROUGE, LA (FHA|USDA|VA) | 165 | $31,555,000 | $191,242 | $7,117 | 3.35% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 143 | $30,775,000 | $215,210 | $6,780 | 2.84% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 139 | $27,855,000 | $200,396 | $7,013 | 3.27% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 55 | $27,585,000 | $501,545 | $8,253 | 3.13% |
| YUBA CITY, CA (FHA|USDA|VA) | 105 | $26,145,000 | $249,000 | $6,636 | 2.93% |
| Crescent City, CA (FHA|USDA|VA) | 90 | $23,680,000 | $263,111 | $7,327 | 3.18% |
| LEWISTON, ID-WA (FHA|USDA|VA) | 117 | $23,335,000 | $199,444 | $7,378 | 3.30% |
| Roseburg, OR (FHA|USDA|VA) | 81 | $20,185,000 | $249,198 | $7,847 | 3.27% |
| Susanville, CA (FHA|USDA|VA) | 83 | $17,205,000 | $207,289 | $5,963 | 3.32% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 59 | $16,875,000 | $286,017 | $7,439 | 3.23% |
| NAPA, CA (FHA|USDA|VA) | 35 | $16,685,000 | $476,714 | $8,664 | 3.07% |
| Moscow, ID (FHA|USDA|VA) | 75 | $16,365,000 | $218,200 | $6,923 | 3.44% |
| MEDFORD, OR (FHA|USDA|VA) | 52 | $14,870,000 | $285,962 | $6,977 | 3.22% |
| Outside of Metro Areas | 49 | $14,445,000 | $294,796 | $6,890 | 3.16% |
| Klamath Falls, OR (FHA|USDA|VA) | 60 | $13,020,000 | $217,000 | $5,872 | 3.13% |
| FLINT, MI (FHA|USDA|VA) | 77 | $12,985,000 | $168,636 | $5,380 | 3.57% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 29 | $11,955,000 | $412,241 | $5,552 | 3.20% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 28 | $11,920,000 | $425,714 | $5,784 | 3.13% |
| POCATELLO, ID (FHA|USDA|VA) | 77 | $11,895,000 | $154,481 | $8,023 | 3.36% |
| Oak Harbor, WA (FHA|USDA|VA) | 45 | $11,845,000 | $263,222 | $7,553 | 2.79% |
| ANN ARBOR, MI (FHA|USDA|VA) | 47 | $11,825,000 | $251,596 | $4,532 | 3.40% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 45 | $11,645,000 | $258,778 | $7,344 | 3.13% |
| IDAHO FALLS, ID (FHA|USDA|VA) | 62 | $11,310,000 | $182,419 | $9,153 | 3.04% |
| Truckee-Grass Valley, CA (FHA|USDA|VA) | 28 | $10,680,000 | $381,429 | $6,677 | 3.19% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 48 | $10,620,000 | $221,250 | $5,299 | 3.47% |
| Fallon, NV (FHA|USDA|VA) | 52 | $10,490,000 | $201,731 | $7,952 | 2.94% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 28 | $10,210,000 | $364,643 | $6,754 | 3.31% |
| Astoria, OR (FHA|USDA|VA) | 29 | $9,745,000 | $336,034 | $7,301 | 3.15% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 44 | $9,410,000 | $213,864 | $7,294 | 3.25% |
| Clearlake, CA (FHA|USDA|VA) | 34 | $8,990,000 | $264,412 | $6,312 | 3.29% |
| SALEM, OR (FHA|USDA|VA) | 27 | $8,805,000 | $326,111 | $7,035 | 3.12% |
| Ukiah, CA (FHA|USDA|VA) | 22 | $8,470,000 | $385,000 | $6,618 | 3.54% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 26 | $7,750,000 | $298,077 | $5,903 | 3.33% |
| Kapaa, HI (FHA|USDA|VA) | 12 | $7,230,000 | $602,500 | $8,736 | 3.32% |
| HAMMOND, LA (FHA|USDA|VA) | 38 | $7,090,000 | $186,579 | $6,053 | 3.40% |
| Blackfoot, ID (FHA|USDA|VA) | 36 | $6,990,000 | $194,167 | $9,149 | 3.29% |
| MADERA, CA (FHA|USDA|VA) | 21 | $5,795,000 | $275,952 | $5,277 | 3.25% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 23 | $5,665,000 | $246,304 | $5,630 | 2.88% |
| VISALIA, CA (FHA|USDA|VA) | 24 | $5,500,000 | $229,167 | $4,819 | 3.20% |
| CORVALLIS, OR (FHA|USDA|VA) | 16 | $4,710,000 | $294,375 | $7,562 | 3.15% |
| CARSON CITY, NV (FHA|USDA|VA) | 18 | $4,680,000 | $260,000 | $6,421 | 2.87% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 11 | $4,535,000 | $412,273 | $4,202 | 3.36% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 13 | $4,275,000 | $328,846 | $6,653 | 3.23% |
| YAKIMA, WA (FHA|USDA|VA) | 26 | $4,260,000 | $163,846 | $7,838 | 2.48% |
| GRANTS PASS, OR (FHA|USDA|VA) | 16 | $4,230,000 | $264,375 | $7,496 | 3.15% |
| CLEVELAND, TN (FHA|USDA|VA) | 23 | $4,225,000 | $183,696 | $6,115 | 3.51% |
| MONROE, MI (FHA|USDA|VA) | 23 | $3,955,000 | $171,957 | $4,413 | 3.31% |
| Sonora, CA (FHA|USDA|VA) | 17 | $3,905,000 | $229,706 | $6,705 | 2.93% |
| Brookings, OR (FHA|USDA|VA) | 12 | $3,890,000 | $324,167 | $8,601 | 3.36% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 21 | $3,815,000 | $181,667 | $5,870 | 3.38% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 13 | $3,675,000 | $282,692 | $6,869 | 3.31% |
| GREELEY, CO (FHA|USDA|VA) | 14 | $3,670,000 | $262,143 | $7,726 | 3.04% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 13 | $3,665,000 | $281,923 | $7,389 | 3.10% |
| Pullman, WA (FHA|USDA|VA) | 14 | $3,520,000 | $251,429 | $5,606 | 3.21% |
| Gardnerville Ranchos, NV (FHA|USDA|VA) | 12 | $3,510,000 | $292,500 | $10,969 | 2.57% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 18 | $3,470,000 | $192,778 | $6,443 | 3.37% |
| SPARTANBURG, SC (FHA|USDA|VA) | 17 | $3,285,000 | $193,235 | $4,284 | 3.04% |
| Prineville, OR (FHA|USDA|VA) | 9 | $3,255,000 | $361,667 | $13,511 | 3.01% |
| Jackson, WY-ID (FHA|USDA|VA) | 12 | $3,250,000 | $270,833 | $8,453 | 3.04% |
| Albemarle, NC (FHA|USDA|VA) | 13 | $3,045,000 | $234,231 | $7,181 | 3.33% |
| WALLA WALLA, WA (FHA|USDA|VA) | 16 | $3,000,000 | $187,500 | $6,626 | 3.03% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 14 | $2,840,000 | $202,857 | $4,882 | 3.34% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 9 | $2,835,000 | $315,000 | $7,455 | 3.18% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 8 | $2,780,000 | $347,500 | $4,512 | 3.30% |
| Ontario, OR-ID (FHA|USDA|VA) | 8 | $2,720,000 | $340,000 | $10,263 | 3.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 9 | $2,685,000 | $298,333 | $7,774 | 3.26% |
| KNOXVILLE, TN (FHA|USDA|VA) | 10 | $2,490,000 | $249,000 | $5,504 | 3.32% |
| Moses Lake, WA (FHA|USDA|VA) | 17 | $2,395,000 | $140,882 | $7,975 | 2.44% |
| BOULDER, CO (FHA|USDA|VA) | 5 | $2,305,000 | $461,000 | $8,538 | 2.65% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 12 | $2,270,000 | $189,167 | $5,945 | 3.46% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 9 | $2,195,000 | $243,889 | $5,151 | 2.90% |
| Show Low, AZ (FHA|USDA|VA) | 8 | $2,160,000 | $270,000 | $7,320 | 2.56% |
| Coos Bay, OR (FHA|USDA|VA) | 10 | $2,150,000 | $215,000 | $7,455 | 3.12% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 7 | $2,145,000 | $306,429 | $4,319 | 3.32% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 6 | $2,120,000 | $353,333 | $5,947 | 3.08% |
| Hilo, HI (FHA|USDA|VA) | 4 | $2,080,000 | $520,000 | $6,688 | 2.66% |
| Athens, TX (FHA|USDA|VA) | 9 | $2,075,000 | $230,556 | $7,270 | 3.17% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $1,985,000 | $661,667 | $12,106 | 2.79% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 7 | $1,915,000 | $273,571 | $3,075 | 3.39% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 9 | $1,845,000 | $205,000 | $5,592 | 3.30% |
| Traverse City, MI (FHA|USDA|VA) | 7 | $1,835,000 | $262,143 | $4,856 | 3.41% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 5 | $1,765,000 | $353,000 | $4,039 | 3.20% |
| Sandpoint, ID (FHA|USDA|VA) | 6 | $1,730,000 | $288,333 | $6,230 | 3.37% |
| The Dalles, OR (FHA|USDA|VA) | 6 | $1,730,000 | $288,333 | $6,076 | 3.17% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 6 | $1,710,000 | $285,000 | $8,291 | 2.56% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 8 | $1,710,000 | $213,750 | $3,813 | 3.36% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 11 | $1,675,000 | $152,273 | $6,995 | 2.99% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 10 | $1,650,000 | $165,000 | $6,999 | 3.84% |
| AKRON, OH (FHA|USDA|VA) | 5 | $1,595,000 | $319,000 | $3,891 | 3.35% |
| DALTON, GA (FHA|USDA|VA) | 7 | $1,595,000 | $227,857 | $6,419 | 3.55% |
| Mountain Home, ID (FHA|USDA|VA) | 11 | $1,575,000 | $143,182 | $5,971 | 3.45% |
| BELLINGHAM, WA (FHA|USDA|VA) | 5 | $1,575,000 | $315,000 | $7,942 | 3.48% |
| Hermiston-Pendleton, OR (FHA|USDA|VA) | 6 | $1,500,000 | $250,000 | $6,874 | 3.50% |
| Newport, OR (FHA|USDA|VA) | 6 | $1,480,000 | $246,667 | $5,448 | 3.29% |
| Hailey, ID (FHA|USDA|VA) | 3 | $1,445,000 | $481,667 | $9,462 | 2.96% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 9 | $1,435,000 | $159,444 | $6,431 | 5.12% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 6 | $1,400,000 | $233,333 | $5,372 | 3.46% |
| ASHEVILLE, NC (FHA|USDA|VA) | 4 | $1,350,000 | $337,500 | $4,677 | 3.47% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 8 | $1,310,000 | $163,750 | $4,881 | 3.44% |
| Lewisburg, TN (FHA|USDA|VA) | 6 | $1,270,000 | $211,667 | $6,299 | 3.19% |
| Whitewater, WI (FHA|USDA|VA) | 4 | $1,250,000 | $312,500 | $3,209 | 3.00% |
| Nogales, AZ (FHA|USDA|VA) | 8 | $1,200,000 | $150,000 | $4,856 | 2.84% |
| TYLER, TX (FHA|USDA|VA) | 5 | $1,195,000 | $239,000 | $5,641 | 3.02% |
| WILMINGTON, NC (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $9,781 | 3.21% |
| Shelby, NC (FHA|USDA|VA) | 6 | $1,170,000 | $195,000 | $4,508 | 3.23% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 4 | $1,160,000 | $290,000 | $5,368 | 3.12% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $6,136 | 3.03% |
| Payson, AZ (FHA|USDA|VA) | 5 | $1,135,000 | $227,000 | $5,262 | 3.17% |
| SAGINAW, MI (FHA|USDA|VA) | 6 | $1,080,000 | $180,000 | $4,297 | 3.52% |
| LONGVIEW, WA (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $5,672 | 3.09% |
| EL CENTRO, CA (FHA|USDA|VA) | 4 | $1,060,000 | $265,000 | $3,815 | 3.15% |
| Winnemucca, NV (FHA|USDA|VA) | 5 | $1,015,000 | $203,000 | $9,136 | 2.93% |
| WACO, TX (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $5,435 | 3.22% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $4,779 | 3.28% |
| TULSA, OK (FHA|USDA|VA) | 4 | $1,000,000 | $250,000 | $6,502 | 3.72% |
| Rexburg, ID (FHA|USDA|VA) | 6 | $1,000,000 | $166,667 | $7,784 | 3.69% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $9,218 | 3.04% |
| Aberdeen, WA (FHA|USDA|VA) | 5 | $965,000 | $193,000 | $6,937 | 2.55% |
| JACKSON, MI (FHA|USDA|VA) | 5 | $965,000 | $193,000 | $5,446 | 3.40% |
| COLUMBUS, OH (FHA|USDA|VA) | 5 | $915,000 | $183,000 | $5,553 | 3.55% |
| MANKATO, MN (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $6,747 | 3.75% |
| LUBBOCK, TX (FHA|USDA|VA) | 4 | $860,000 | $215,000 | $5,938 | 3.37% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $6,509 | 3.06% |
| Adrian, MI (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $4,336 | 3.25% |
| MADISON, WI (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $8,507 | 3.50% |
| Warrensburg, MO (FHA|USDA|VA) | 5 | $815,000 | $163,000 | $4,089 | 3.48% |
| Cookeville, TN (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $6,501 | 3.41% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $5,825 | 3.25% |
| LOGAN, UT-ID (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $9,816 | 3.63% |
| Elko, NV (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $8,433 | 2.25% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $11,487 | 3.21% |
| Hood River, OR (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $9,667 | 2.99% |
| Lawrenceburg, TN (FHA|USDA|VA) | 3 | $675,000 | $225,000 | $6,103 | 3.50% |
| MIDLAND, MI (FHA|USDA|VA) | 2 | $670,000 | $335,000 | $2,913 | 3.18% |
| Shelton, WA (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $9,135 | 2.96% |
| JACKSON, TN (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $4,173 | 3.21% |
| Forest City, NC (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $4,797 | 3.04% |
| Steamboat Springs, CO (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $5,171 | 3.43% |
| Ellensburg, WA (FHA|USDA|VA) | 3 | $615,000 | $205,000 | $4,996 | 3.46% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 3 | $605,000 | $201,667 | $7,386 | 4.42% |
| Sulphur Springs, TX (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $12,328 | 3.81% |
| La Grande, OR (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $9,237 | 3.58% |
| Hillsdale, MI (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $3,796 | 3.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $7,544 | 2.81% |
| Stephenville, TX (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $6,925 | 3.04% |
| Othello, WA (FHA|USDA|VA) | 5 | $545,000 | $109,000 | $5,490 | 2.70% |
| KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $6,845 | 2.88% |
| Mason City, IA (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $2,396 | 4.08% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $5,715 | 3.63% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $7,839 | 3.13% |
| Nacogdoches, TX (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $7,207 | 2.88% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,443 | 2.56% |
| ST. JOSEPH, MO-KS (FHA|USDA|VA) | 2 | $500,000 | $250,000 | $4,447 | 3.25% |
| Bonham, TX (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $7,362 | 3.63% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,821 | 3.50% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $17,985 | 2.88% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $5,317 | 2.88% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $7,186 | 3.21% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $9,988 | 3.44% |
| Mount Pleasant, TX (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $6,041 | 3.31% |
| BAY CITY, MI (FHA|USDA|VA) | 4 | $460,000 | $115,000 | $4,094 | 3.40% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,982 | 2.88% |
| Port Angeles, WA (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $5,989 | 3.93% |
| Scottsboro, AL (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $3,140 | 3.21% |
| Shelbyville, TN (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $4,657 | 3.38% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $14,521 | 2.75% |
| WENATCHEE, WA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $6,539 | 3.50% |
| HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $5,269 | 3.31% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,693 | 3.25% |
| TOLEDO, OH (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $4,150 | 3.37% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $1,460 | 2.75% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 3 | $385,000 | $128,333 | $2,295 | 4.08% |
| Pella, IA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $10,328 | 3.25% |
| COLUMBIA, SC (FHA|USDA|VA) | 3 | $375,000 | $125,000 | $4,558 | 4.25% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $4,511 | 2.99% |
| ALBANY, GA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,407 | 2.88% |
| EL PASO, TX (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $5,431 | 3.06% |
| Ottawa, KS (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $4,594 | 3.38% |
| Washington Court House, OH (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $7,875 | 2.99% |
| Waycross, GA (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $11,398 | 2.49% |
| Summerville, GA (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $6,065 | 3.31% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,799 | 2.99% |
| Greeneville, TN (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,081 | 3.63% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 2.75% |
| Heber, UT (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,333 | 2.99% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $5,162 | 2.75% |
| Pahrump, NV (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $5,920 | 2.79% |
| Columbus, MS (FHA|USDA|VA) | 3 | $285,000 | $95,000 | $4,704 | 3.54% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,775 | 3.13% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,645 | 3.50% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,733 | 4.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,949 | 2.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $7,016 | 2.88% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,900 | 2.99% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,815 | 3.38% |
| Cullowhee, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,464 | 3.13% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $3,047 | 2.99% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,267 | 2.99% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,536 | 2.13% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $5,266 | 3.19% |
| Fremont, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $10,929 | 2.75% |
| PROVO-OREM, UT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $7,504 | 2.99% |
| Plymouth, IN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,621 | 2.88% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 4.25% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,129 | 3.99% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,529 | 4.38% |
| Holland, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $6,702 | 2.88% |
| Athens, TN (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $6,907 | 3.25% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,702 | 3.50% |
| Palestine, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $12,381 | 3.75% |
| Sturgis, MI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,878 | 2.75% |
| Bogalusa, LA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $7,310 | 3.63% |
| Wilson, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,105 | 2.99% |
| STAUNTON, VA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,869 | 2.88% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,134 | 3.88% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $8,015 | 2.75% |
| MACON-BIBB COUNTY, GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,028 | 2.99% |
| NILES, MI (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,224 | 2.99% |
| Sedalia, MO (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,423 | 2.99% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,385 | 2.99% |
| Evanston, WY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $9,524 | 3.63% |
| Connersville, IN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $5,498 | 3.75% |
| Calhoun, GA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,659 | 3.00% |
| AMARILLO, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $7,772 | 3.63% |
| ENID, OK (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $10,433 | 3.13% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,072 | 3.13% |
| North Wilkesboro, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,868 | 2.88% |
| AMES, IA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,599 | 2.99% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,677 | 2.88% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $3,179 | 2.88% |
| Jacksonville, TX (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,143 | 3.99% |
| Dyersburg, TN (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $5,282 | 4.17% |
| SAVANNAH, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,763 | 3.75% |
| Forrest City, AR (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $9,075 | 3.50% |
| Paris, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $5,164 | 2.75% |
| Huntsville, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,957 | 2.99% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $8,478 | 3.75% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,505 | 3.13% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 2.88% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $6,634 | 3.50% |
| TWIN FALLS, ID (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,090 | 3.50% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $7,803 | 3.75% |
| Wilmington, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $9,378 | 3.63% |
| Marion, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,112 | 4.38% |
| Lumberton, NC (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $6,827 | 5.00% |
| Portsmouth, OH (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,688 | 3.38% |
| Dayton, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $4,814 | 4.00% |
| Russellville, AR (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $5,007 | 3.50% |
| Ludington, MI (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,044 | 3.99% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,561 | 3.25% |
| SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,147 | 3.88% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $3,132 | 3.75% |
| LAFAYETTE, LA (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $4,077 | 5.50% |
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Product Mix
For 2020, Summit Funding's most frequently originated type of loan was Conventional, with 19,668 originations. Their 2nd most popular type was FHA, with 3,699 originations.
Loan Reason
For 2020, Summit Funding's most frequently cited loan purpose was Home Purchase, with 14,091 originations. The 2nd most popular reason was Refi, with 8,111 originations.
Loan Duration/Length
For 2020, Summit Funding's most frequently cited loan duration was 30 Year, with 23,054 originations. The 2nd most popular length was 15 Year, with 1,280 originations.
Origination Fees/Closing Costs
Summit Funding's average total fees were $6,536, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 8,035 originations.
Interest Rates
During 2020, Summit Funding's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 12,250 originations.
Loan Sizing
2020 saw Summit Funding place emphasis on $200k-400k loans with 12,964 originations, totaling $3,767,440,000 in origination value.
Applicant Income
Summit Funding lent most frequently to those with incomes in the $50k-75k range, with 5,807 originations. The second most popular income band? $100k-150k, with 5,713 originations.
Applicant Debt to Income Ratio
Summit Funding lent most frequently to those with DTI ratios of 20-30%, with 4,676 originations. The next most common DTI ratio? 30-36%, with 4,502 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.44%
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 origination77.54%
Summit Funding has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 25,437 | $7,709,485,000 | $303,082 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 473 | $91,405,000 | $193,245 |
| Single Family (1-4 Units):Site-Built | 24,964 | $7,618,080,000 | $305,163 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SUMMIT FUNDING, INC. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 16.7% |
| SUMMIT FUNDING, INC. | Conventional home mortgage | Closing on a mortgage | 1 | 16.7% |
| SUMMIT FUNDING, INC. | Conventional home mortgage | Trouble during payment process | 2 | 33.3% |
| SUMMIT FUNDING, INC. | FHA mortgage | Trouble during payment process | 1 | 16.7% |
| SUMMIT FUNDING, INC. | VA mortgage | Closing on a mortgage | 1 | 16.7% |