Sumter FHA Loan Rates, Closing Costs & Stats

SUMTER, SC

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 -0.03% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

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

The average rate for the prior week (2025-06-27) was 6.65% and one month ago for the week of 2025-05-30, the average rate was 6.53%.

The average rate one year ago was 6.75%.

For refis of the same type during the week of 2025-07-04, the average rate was -0.46%.

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

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).