Sumter FHA Loan Rates, Closing Costs & Stats

SUMTER, SC

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Sumter's 77 lenders originated 405 FHA loans during 2024. The total origination value was $79,435,000, with an average FHA loan value of $196,136.

    Sumter FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Sumter averaged 6.23% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Sumter's average FHA mortgage closing costs are $6,816.

    The average rate for the prior week (2025-03-28) was 6.52% and one month ago for the week of 2025-02-28, the average rate was 6.21%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.8%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Sumter FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Sumter level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    RESOURCE FINANCIAL SERVICES, INC. 43 6.52% $9,862
    Gateway First Bank 33 6.41% $8,528
    QUICKEN LOANS, LLC 31 6.33% $9,680
    FBC MORTGAGE, LLC 22 5.24% $8,822
    GUILD MORTGAGE COMPANY 22 6.61% $8,650
    UNITED WHOLESALE MORTGAGE, LLC 19 6.32% $9,955
    MOVEMENT MORTGAGE, LLC 17 6.70% $9,434
    Trustmark National Bank 16 6.59% $9,270
    FREEDOM MORTGAGE CORPORATION 13 6.65% $9,993
    CROSSCOUNTRY MORTGAGE, LLC 9 6.51% $10,634
    Assurance Financial Group, L.L.C. 7 6.36% $9,967
    DHI MORTGAGE COMPANY, LTD. 6 5.04% $6,803
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.50% $8,091
    HOMESIDE FINANCIAL, LLC 4 6.41% $11,182
    Flagstar Bank, FSB 4 6.50% $7,633
    PLAZA HOME MORTGAGE, INC. 4 6.84% $7,902
    AMERICAN FINANCIAL RESOURCES, INC. 4 6.75% $9,854
    First-Citizens Bank & Trust Company 4 5.91% $6,620
    Carrington Mortgage Services, LLC 4 6.25% $8,367
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.25% $12,696
    GUARANTEED RATE, INC. 3 6.63% $10,501
    Equity Prime Mortgage LLC 3 6.04% $10,873
    BROKER SOLUTIONS, INC. 3 6.58% $8,311
    CALCON MUTUAL MORTGAGE LLC 3 6.33% $10,394
    First Federal Bank 3 6.00% $7,879
    AMERISAVE MORTGAGE CORPORATION 3 6.58% $11,822
    PENNYMAC LOAN SERVICES, LLC 3 6.33% $8,668
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.71% $13,023
    CMG MORTGAGE, INC. 2 6.56% $8,992
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 7.06% $9,865
    Prosperity Home Mortgage, LLC 2 6.00% $9,275
    Renasant Bank 2 6.19% $10,400
    NEWREZ LLC 2 6.19% $9,092
    First Heritage Mortgage, LLC 2 6.56% $14,680
    Ameris Bank 2 6.50% $10,471
    AMERICAN FINANCIAL NETWORK, INC. 2 6.75% $10,976
    The Federal Savings Bank 2 6.25% $13,090
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.69% $4,179
    TOTAL MORTGAGE SERVICES, LLC 2 7.37% $14,610
    INTERLINC MORTGAGE SERVICES, LLC 2 7.19% $7,403
    CARDINAL FINANCIAL 2 6.75% $12,431
    NATION ONE MORTGAGE CORPORATION 1 6.25% $6,969
    AMERICAN FINANCING CORPORATION 1 6.13% $9,025
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.25% $8,198
    Atlantic Coast Mortgage, LLC 1 8.25% $10,119
    AXIA FINANCIAL, LLC 1 7.75% $8,837
    BAY EQUITY LLC 1 6.63% $7,771
    DIRECT MORTGAGE LOANS, LLC 1 7.63% $6,005
    First Community Bank 1 6.50% $10,647
    First Palmetto Bank 1 6.63% $7,999
    First Reliance Bank 1 5.63% $7,596
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $11,038
    Home Mortgage Alliance Corp 1 6.63% $13,093
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 4.50% $12,368
    Lakeview Community Capital, LLC 1 7.25% $8,053
    LOANDEPOT.COM, LLC 1 6.75% $9,778
    LOANPAL, LLC 1 5.50% $7,587
    Magnolia Bank 1 6.99% $8,159
    MILEND, INC. 1 5.75% $8,323
    Mortgage Research Center, LLC 1 6.25% $6,271
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $9,635
    OCMBC, INC. 1 6.63% $5,318
    Plains Commerce Bank 1 6.25% $6,193
    PLANET HOME LENDING, LLC 1 5.75% $5,870
    PNC Bank 1 7.00% $5,273
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $8,474
    ROYAL UNITED MORTGAGE LLC 1 7.63% $6,944
    SENTE MORTGAGE, INC. 1 5.63% $4,410
    SOUTHWEST FUNDING, LP 1 7.75% $10,009
    STOCKTON MORTGAGE CORPORATION 1 5.75% $7,910
    T2 FINANCIAL LLC 1 6.75% $7,653
    TIDEWATER MORTGAGE SERVICES, INC. 1 7.00% $7,715
    TOP FLITE FINANCIAL, INC. 1 7.25% $7,940
    Truist 1 6.70% $6,169
    U.S. Bank 1 5.99% $7,302
    VERITAS FUNDING, LLC 1 6.75% $13,062
    VILLAGE CAPITAL MORTGAGE 1 6.38% $8,752

    The top Sumter FHA lender as defined by loan originations is RESOURCE FINANCIAL SERVICES, INC., with 43 FHA loans originated. Their average total fees are $9,862, which is $1,335 higher than the next largest lender, Gateway First Bank.

    The lowest fee Sumter FHA lenders (with over 10 loans originated) are Gateway First Bank ($8,528), GUILD MORTGAGE COMPANY ($8,650), FBC MORTGAGE, LLC ($8,822), Trustmark National Bank ($9,270) and MOVEMENT MORTGAGE, LLC ($9,434).

    The lowest rate Sumter FHA lenders (with over 10 loans originated) are FBC MORTGAGE, LLC (5.24%), UNITED WHOLESALE MORTGAGE, LLC (6.32%), QUICKEN LOANS, LLC (6.33%), Gateway First Bank (6.41%) and RESOURCE FINANCIAL SERVICES, INC. (6.52%).

    Sumter FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SUMTER, SC CLARENDON 2022 $420,680 $538,650 $651,050 $809,150
    SUMTER, SC SUMTER 2022 $420,680 $538,650 $651,050 $809,150
    SUMTER, SC CLARENDON 2023 $472,030 $604,400 $730,525 $907,900
    SUMTER, SC SUMTER 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Sumter (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $149,900 (-2.5%) $165,964 (-5.5%) 0.00 454
    2018-02-01 $152,000 (-1.4%) $167,045 (-4.7%) 0.00 444
    2018-03-01 $144,950 (-9.4%) $169,613 (-3.0%) 0.00 406
    2018-04-01 $154,500 (-4.8%) $175,156 (-1.7%) 0.00 429
    2018-05-01 $154,975 (-4.8%) $176,721 (-0.2%) 0.00 430
    2018-06-01 $159,450 (-2.7%) $180,243 (1.2%) 0.00 411
    2018-07-01 $162,400 (1.5%) $186,261 (5.5%) 0.00 407
    2018-08-01 $159,900 (0.8%) $185,766 (7.1%) 0.00 396
    2018-09-01 $157,900 (0.6%) $183,310 (7.4%) 0.00 393
    2018-10-01 $149,974 (-4.4%) $182,103 (6.3%) 0.00 398
    2018-11-01 $156,575 (1.0%) $183,779 (7.9%) 0.00 388
    2018-12-01 $155,000 (1.4%) $178,428 (6.2%) 0.00 375
    2019-01-01 $155,000 (3.4%) $178,704 (7.7%) 0.00 360
    2019-02-01 $159,900 (5.2%) $179,348 (7.4%) 0.00 375
    2019-03-01 $164,186 (13.3%) $177,871 (4.9%) 0.00 403
    2019-04-01 $172,200 (11.5%) $182,323 (4.1%) 0.00 429
    2019-05-01 $181,675 (17.2%) $191,221 (8.2%) 0.00 414
    2019-06-01 $183,900 (15.3%) $194,843 (8.1%) 0.00 383
    2019-07-01 $179,900 (10.8%) $192,134 (3.2%) 0.00 360
    2019-08-01 $179,919 (12.5%) $190,365 (2.5%) 0.00 373
    2019-09-01 $179,964 (14.0%) $188,509 (2.8%) 0.00 382
    2019-10-01 $180,000 (20.0%) $187,723 (3.1%) 0.00 389
    2019-11-01 $183,900 (17.5%) $187,797 (2.2%) 0.00 372
    2019-12-01 $179,063 (15.5%) $187,439 (5.1%) 0.00 343
    2020-01-01 $185,000 (19.4%) $190,248 (6.5%) 0.00 299
    2020-02-01 $185,000 (15.7%) $190,077 (6.0%) 0.00 282
    2020-03-01 $177,000 (7.8%) $188,507 (6.0%) 0.00 278
    2020-04-01 $177,975 (3.4%) $192,368 (5.5%) 0.00 285
    2020-05-01 $175,500 (-3.4%) $191,986 (0.4%) 0.00 262
    2020-06-01 $180,400 (-1.9%) $186,466 (-4.3%) 0.00 228
    2020-07-01 $175,750 (-2.3%) $191,498 (-0.3%) 0.00 180
    2020-08-01 $180,000 (0.1%) $195,407 (2.7%) 0.00 154
    2020-09-01 $176,625 (-1.9%) $204,197 (8.3%) 0.00 143
    2020-10-01 $175,250 (-2.6%) $210,664 (12.2%) 0.00 136
    2020-11-01 $184,950 (0.6%) $216,580 (15.3%) 0.00 133
    2020-12-01 $177,725 (-0.8%) $206,140 (10.0%) 0.00 133
    2021-01-01 $172,500 (-6.8%) $192,244 (1.1%) 0.00 124
    2021-02-01 $167,750 (-9.3%) $185,331 (-2.5%) 0.00 129
    2021-03-01 $174,833 (-1.2%) $200,188 (6.2%) 0.00 118
    2021-04-01 $177,817 (-0.1%) $199,030 (3.5%) 0.00 102
    2021-05-01 $188,000 (7.1%) $213,923 (11.4%) 0.00 82
    2021-06-01 $185,000 (2.6%) $307,499 (64.9%) 0.00 89
    2021-07-01 $187,000 (6.4%) $314,239 (64.1%) 0.00 89
    2021-08-01 $203,500 (13.1%) $269,604 (38.0%) 0.00 96
    2021-09-01 $194,950 (10.4%) $268,577 (31.5%) 0.00 98
    2021-10-01 $196,000 (11.8%) $257,016 (22.0%) 0.00 128
    2021-11-01 $209,000 (13.0%) $255,833 (18.1%) 0.00 141
    2021-12-01 $212,000 (19.3%) $269,786 (30.9%) 0.00 137
    2022-01-01 $234,000 (35.7%) $243,734 (26.8%) 0.00 126
    2022-02-01 $231,725 (38.1%) $234,570 (26.6%) 0.00 117
    2022-03-01 $245,123 (40.2%) $282,196 (41.0%) 0.00 106
    2022-04-01 $252,749 (42.1%) $306,265 (53.9%) 0.00 91
    2022-05-01 $261,675 (39.2%) $298,781 (39.7%) 0.00 137
    2022-06-01 $257,500 (39.2%) $273,714 (-11.0%) 0.00 191
    2022-07-01 $260,000 (39.0%) $275,663 (-12.3%) 0.00 211
    2022-08-01 $275,175 (35.2%) $283,337 (5.1%) 0.00 262
    2022-09-01 $268,500 (37.7%) $283,721 (5.6%) 0.00 293
    2022-10-01 $269,000 (37.2%) $281,256 (9.4%) 0.00 293
    2022-11-01 $277,000 (32.5%) $281,120 (9.9%) 0.00 299
    2022-12-01 $269,500 (27.1%) $276,364 (2.4%) 0.00 324
    2023-01-01 $280,573 (19.9%) $277,307 (13.8%) 0.00 318
    2023-02-01 $289,534 (25.0%) $289,436 (23.4%) 0.00 319
    2023-03-01 $286,838 (17.0%) $288,107 (2.1%) 0.00 285
    2023-04-01 $280,826 (11.1%) $289,209 (-5.6%) 0.00 290
    2023-05-01 $275,000 (5.1%) $280,611 (-6.1%) 0.00 271
    2023-06-01 $274,850 (6.7%) $291,016 (6.3%) 0.00 273
    2023-07-01 $278,917 (7.3%) $293,743 (6.6%) 0.00 261
    2023-08-01 $278,475 (1.2%) $296,815 (4.8%) 0.00 254
    2023-09-01 $279,900 (4.3%) $294,135 (3.7%) 0.00 277
    2023-10-01 $275,450 (2.4%) $298,679 (6.2%) 0.00 298
    2023-11-01 $271,995 (-1.8%) $295,334 (5.1%) 0.00 336
    2023-12-01 $272,970 (1.3%) $298,091 (7.9%) 0.00 310
    2024-01-01 $278,225 (-0.8%) $287,761 (3.8%) 0.00 317
    2024-02-01 $274,950 (-5.0%) $286,158 (-1.1%) 0.00 315
    2024-03-01 $279,900 (-2.4%) $293,386 (1.8%) 0.00 296
    2024-04-01 $277,575 (-1.2%) $293,846 (1.6%) 0.00 258
    2024-05-01 $266,947 (-2.9%) $292,810 (4.4%) 0.00 262
    2024-06-01 $260,000 (-5.4%) $286,101 (-1.7%) 0.00 285
    2024-07-01 $259,625 (-6.9%) $290,225 (-1.2%) 0.00 282
    2024-08-01 $265,000 (-4.8%) $301,756 (1.7%) 0.00 280
    2024-09-01 $269,500 (-3.7%) $301,291 (2.4%) 0.00 308
    2024-10-01 $284,373 (3.2%) $310,032 (3.8%) 0.00 318
    2024-11-01 $275,000 (1.1%) $299,012 (1.3%) 0.00 345
    2024-12-01 $269,350 (-1.3%) $291,842 (-2.1%) 0.00 336
    2025-01-01 $270,425 (-2.8%) $288,412 (0.2%) 0.00 315
    2025-02-01 $275,000 (0.0%) $288,110 (0.7%) 0.00 315
    2025-03-01 $273,500 (-2.3%) $289,019 (-1.5%) 0.00 344
    Sumter's median listing price for 2025-03-01 was $273,500, a difference of $-6,400 (-2.3%) versus the prior year and $-1,500 versus the prior month.

    Sumter's median listing price comes in at 0% of the national average.

    Sumter's average listing price for 2025-03-01 was $289,019, a difference of $-4,367 (-1.5%) versus the prior year and $909 versus the prior month.

    For the 2025-03-01 period, Sumter had 344 MLS listings, a difference of 29 listings (9%) versus the prior month and 48 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Sumter (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,856 sqft
    2018-02-01 0 days 1,863 sqft
    2018-03-01 0 days 1,854 sqft
    2018-04-01 0 days 1,898 sqft
    2018-05-01 0 days 1,912 sqft
    2018-06-01 0 days 1,911 sqft
    2018-07-01 0 days 1,931 sqft
    2018-08-01 0 days 1,963 sqft
    2018-09-01 0 days 1,923 sqft
    2018-10-01 0 days 1,856 sqft
    2018-11-01 0 days 1,904 sqft
    2018-12-01 0 days 1,907 sqft
    2019-01-01 0 days 1,908 sqft
    2019-02-01 0 days 1,922 sqft
    2019-03-01 0 days 1,942 sqft
    2019-04-01 0 days 1,985 sqft
    2019-05-01 0 days 2,042 sqft
    2019-06-01 0 days 2,030 sqft
    2019-07-01 0 days 2,019 sqft
    2019-08-01 0 days 1,984 sqft
    2019-09-01 0 days 1,987 sqft
    2019-10-01 0 days 1,994 sqft
    2019-11-01 0 days 2,029 sqft
    2019-12-01 0 days 1,979 sqft
    2020-01-01 0 days 2,004 sqft
    2020-02-01 0 days 2,000 sqft
    2020-03-01 0 days 1,961 sqft
    2020-04-01 0 days 1,947 sqft
    2020-05-01 0 days 1,925 sqft
    2020-06-01 0 days 1,921 sqft
    2020-07-01 0 days 1,889 sqft
    2020-08-01 0 days 1,921 sqft
    2020-09-01 0 days 1,911 sqft
    2020-10-01 0 days 1,933 sqft
    2020-11-01 0 days 2,004 sqft
    2020-12-01 0 days 1,942 sqft
    2021-01-01 0 days 1,927 sqft
    2021-02-01 0 days 1,877 sqft
    2021-03-01 0 days 1,922 sqft
    2021-04-01 0 days 1,913 sqft
    2021-05-01 0 days 2,017 sqft
    2021-06-01 0 days 1,956 sqft
    2021-07-01 0 days 1,935 sqft
    2021-08-01 0 days 2,025 sqft
    2021-09-01 0 days 1,935 sqft
    2021-10-01 0 days 1,957 sqft
    2021-11-01 0 days 1,978 sqft
    2021-12-01 0 days 1,959 sqft
    2022-01-01 0 days 2,038 sqft
    2022-02-01 0 days 2,186 sqft
    2022-03-01 0 days 2,117 sqft
    2022-04-01 0 days 2,130 sqft
    2022-05-01 0 days 2,159 sqft
    2022-06-01 0 days 2,063 sqft
    2022-07-01 0 days 2,076 sqft
    2022-08-01 0 days 2,156 sqft
    2022-09-01 0 days 2,125 sqft
    2022-10-01 0 days 2,108 sqft
    2022-11-01 0 days 2,151 sqft
    2022-12-01 0 days 2,115 sqft
    2023-01-01 0 days 2,147 sqft
    2023-02-01 0 days 2,162 sqft
    2023-03-01 0 days 2,125 sqft
    2023-04-01 0 days 2,140 sqft
    2023-05-01 0 days 2,086 sqft
    2023-06-01 0 days 2,106 sqft
    2023-07-01 0 days 2,143 sqft
    2023-08-01 0 days 2,152 sqft
    2023-09-01 0 days 2,106 sqft
    2023-10-01 0 days 2,105 sqft
    2023-11-01 0 days 2,060 sqft
    2023-12-01 0 days 2,097 sqft
    2024-01-01 0 days 2,088 sqft
    2024-02-01 0 days 2,084 sqft
    2024-03-01 0 days 2,158 sqft
    2024-04-01 0 days 2,137 sqft
    2024-05-01 0 days 1,997 sqft
    2024-06-01 0 days 1,915 sqft
    2024-07-01 0 days 1,933 sqft
    2024-08-01 0 days 2,000 sqft
    2024-09-01 0 days 2,037 sqft
    2024-10-01 0 days 2,130 sqft
    2024-11-01 0 days 2,083 sqft
    2024-12-01 0 days 2,013 sqft
    2025-01-01 0 days 2,058 sqft
    2025-02-01 0 days 2,000 sqft
    2025-03-01 0 days 1,962 sqft
    Sumter's median listing age (time on market) for 2025-03-01 was 0 days.

    Sumter's median square footage for active listings during the 2025-03-01 period was 1,962 sqft. One year prior, the average listing was 2,158 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).