Sumter USDA Loans

SUMTER, SC

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Sumter's 19 lenders originated 58 USDA loans during 2021. The total origination value was $8,640,000, with an average USDA loan value of $148,966.

Sumter USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Sumter averaged 5.14% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.07% and one month ago for the week of 2022-04-08, the average rate was 5.03%.

The average rate one year ago was 3.05%.

For refis of the same type during the week of 2022-05-13, the average rate was 4.92%.

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

Sumter USDA Loan Lenders by Rates & Fees

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Gateway First Bank 15 2.88% $3,910
RESOURCE FINANCIAL SERVICES, INC. 13 3.02% $4,876
Magnolia Bank 6 2.81% $3,975
GUILD MORTGAGE COMPANY 3 2.71% $5,196
GUARANTEED RATE, INC. 3 3.04% $5,192
FINANCE OF AMERICA MORTGAGE LLC 3 2.88% $5,747
Trustmark National Bank 2 3.25% $3,327
United Community Bank 2 3.00% $4,517
MOVEMENT MORTGAGE, LLC 1 3.50% $7,523
NORWICH COMMERCIAL GROUP, INC. 1 2.75% $5,510
Prosperity Home Mortgage, LLC 1 2.50% $5,954
GUARANTY HOME MORTGAGE CORPORATION 1 2.75% $3,955
ANGEL OAK HOME LOANS LLC 1 3.50% $5,766
CALIBER HOME LOANS, INC. 1 2.75% $4,831
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 4.50% $6,919
CMG MORTGAGE, INC. 1 2.75% $6,648
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.88% $8,840
AMERICAN FINANCIAL NETWORK, INC. 1 3.25% $7,255
INTERLINC MORTGAGE SERVICES, LLC 1 3.63% $6,422

The top Sumter USDA lender as defined by loan originations is Gateway First Bank, with 15 USDA loans originated. Their average total fees are $3,910, which is $966 lower than the next largest lender, RESOURCE FINANCIAL SERVICES, INC..

The lowest fee Sumter USDA lenders (with over 10 loans originated) are Gateway First Bank ($3,910), RESOURCE FINANCIAL SERVICES, INC. ($4,876), .

The lowest rate Sumter USDA lenders (with over 10 loans originated) are Gateway First Bank (2.88%), RESOURCE FINANCIAL SERVICES, INC. (3.02%), .


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 $150,000 (-2.6%) $173,423 (-6.2%) 0.00 455
2018-02-01 $156,250 (2.5%) $175,076 (-1.6%) 0.00 443
2018-03-01 $147,900 (-6.4%) $178,863 (-1.5%) 0.00 408
2018-04-01 $156,500 (-3.4%) $184,136 (-1.0%) 0.00 430
2018-05-01 $157,700 (-2.7%) $184,729 (0.1%) 0.00 434
2018-06-01 $160,000 (-2.9%) $210,577 (13.1%) 0.00 412
2018-07-01 $164,900 (1.2%) $215,024 (16.9%) 0.00 407
2018-08-01 $161,750 (1.7%) $214,179 (19.6%) 0.00 394
2018-09-01 $159,900 (1.5%) $213,837 (20.2%) 0.00 392
2018-10-01 $155,900 (-2.2%) $211,658 (17.9%) 0.00 398
2018-11-01 $158,250 (0.8%) $213,019 (19.7%) 0.00 393
2018-12-01 $156,900 (0.3%) $206,710 (16.7%) 0.00 385
2019-01-01 $157,300 (4.9%) $209,223 (20.6%) 0.00 367
2019-02-01 $159,900 (2.3%) $207,501 (18.5%) 0.00 384
2019-03-01 $164,186 (11.0%) $207,162 (15.8%) 0.00 413
2019-04-01 $171,413 (9.5%) $208,545 (13.3%) 0.00 438
2019-05-01 $181,950 (15.4%) $218,468 (18.3%) 0.00 425
2019-06-01 $180,000 (12.5%) $196,276 (-6.8%) 0.00 390
2019-07-01 $179,900 (9.1%) $194,650 (-9.5%) 0.00 361
2019-08-01 $181,643 (12.3%) $191,729 (-10.5%) 0.00 368
2019-09-01 $184,750 (15.5%) $189,185 (-11.5%) 0.00 372
2019-10-01 $181,500 (16.4%) $202,696 (-4.2%) 0.00 393
2019-11-01 $184,900 (16.8%) $204,941 (-3.8%) 0.00 381
2019-12-01 $178,750 (13.9%) $204,917 (-0.9%) 0.00 350
2020-01-01 $185,000 (17.6%) $211,260 (1.0%) 0.00 311
2020-02-01 $185,000 (15.7%) $216,246 (4.2%) 0.00 293
2020-03-01 $183,000 (11.5%) $216,682 (4.6%) 0.00 284
2020-04-01 $181,950 (6.2%) $219,054 (5.0%) 0.00 291
2020-05-01 $178,500 (-1.9%) $220,168 (0.8%) 0.00 266
2020-06-01 $184,000 (2.2%) $215,011 (9.6%) 0.00 227
2020-07-01 $179,500 (-0.2%) $226,584 (16.4%) 0.00 180
2020-08-01 $179,900 (-1.0%) $238,458 (24.4%) 0.00 152
2020-09-01 $177,450 (-4.0%) $237,181 (25.4%) 0.00 140
2020-10-01 $175,900 (-3.1%) $242,309 (19.5%) 0.00 137
2020-11-01 $188,000 (1.7%) $254,234 (24.1%) 0.00 135
2020-12-01 $180,700 (1.1%) $239,692 (17.0%) 0.00 132
2021-01-01 $172,500 (-6.8%) $229,582 (8.7%) 0.00 122
2021-02-01 $167,750 (-9.3%) $210,161 (-2.8%) 0.00 123
2021-03-01 $175,348 (-4.2%) $221,357 (2.2%) 0.00 113
2021-04-01 $178,367 (-2.0%) $216,576 (-1.1%) 0.00 96
2021-05-01 $189,000 (5.9%) $236,640 (7.5%) 0.00 78
2021-06-01 $184,450 (0.2%) $323,936 (50.7%) 0.00 88
2021-07-01 $192,200 (7.1%) $336,139 (48.4%) 0.00 87
2021-08-01 $203,950 (13.4%) $277,191 (16.2%) 0.00 92
2021-09-01 $194,900 (9.8%) $268,723 (13.3%) 0.00 95
2021-10-01 $199,500 (13.4%) $259,000 (6.9%) 0.00 126
2021-11-01 $213,500 (13.6%) $255,046 (0.3%) 0.00 141
2021-12-01 $212,000 (17.3%) $271,546 (13.3%) 0.00 141
2022-01-01 $235,000 (36.2%) $250,477 (9.1%) 0.00 130
2022-02-01 $232,500 (38.6%) $244,289 (16.2%) 0.00 116
2022-03-01 $250,745 (43.0%) $295,758 (33.6%) 0.00 104
2022-04-01 $265,000 (48.6%) $326,021 (50.5%) 0.00 96
Sumter's median listing price for 2022-04-01 was $265,000, a difference of $86,633 (48.6%) versus the prior year and $14,255 versus the prior month.

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

Sumter's average listing price for 2022-04-01 was $326,021, a difference of $109,445 (50.5%) versus the prior year and $30,263 versus the prior month.

For the 2022-04-01 period, Sumter had 96 MLS listings, a difference of -8 listings (-8%) versus the prior month and 0 listings (0%) 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 1,876 sqft
2018-02-01 0 days 1,892 sqft
2018-03-01 0 days 1,888 sqft
2018-04-01 0 days 1,919 sqft
2018-05-01 0 days 1,936 sqft
2018-06-01 0 days 1,918 sqft
2018-07-01 0 days 1,946 sqft
2018-08-01 0 days 1,997 sqft
2018-09-01 0 days 1,949 sqft
2018-10-01 0 days 1,904 sqft
2018-11-01 0 days 1,923 sqft
2018-12-01 0 days 1,932 sqft
2019-01-01 0 days 1,917 sqft
2019-02-01 0 days 1,930 sqft
2019-03-01 0 days 1,970 sqft
2019-04-01 0 days 2,002 sqft
2019-05-01 0 days 2,045 sqft
2019-06-01 0 days 2,047 sqft
2019-07-01 0 days 2,024 sqft
2019-08-01 0 days 1,997 sqft
2019-09-01 0 days 2,017 sqft
2019-10-01 0 days 2,002 sqft
2019-11-01 0 days 2,034 sqft
2019-12-01 0 days 1,984 sqft
2020-01-01 0 days 2,019 sqft
2020-02-01 0 days 2,001 sqft
2020-03-01 0 days 2,000 sqft
2020-04-01 0 days 1,980 sqft
2020-05-01 0 days 1,966 sqft
2020-06-01 0 days 1,958 sqft
2020-07-01 0 days 1,931 sqft
2020-08-01 0 days 1,985 sqft
2020-09-01 0 days 1,988 sqft
2020-10-01 0 days 1,988 sqft
2020-11-01 0 days 2,105 sqft
2020-12-01 0 days 1,982 sqft
2021-01-01 0 days 1,925 sqft
2021-02-01 0 days 1,877 sqft
2021-03-01 0 days 1,922 sqft
2021-04-01 0 days 1,914 sqft
2021-05-01 0 days 2,041 sqft
2021-06-01 0 days 1,921 sqft
2021-07-01 0 days 1,945 sqft
2021-08-01 0 days 1,990 sqft
2021-09-01 0 days 1,927 sqft
2021-10-01 0 days 1,961 sqft
2021-11-01 0 days 1,975 sqft
2021-12-01 0 days 1,984 sqft
2022-01-01 0 days 2,059 sqft
2022-02-01 0 days 2,181 sqft
2022-03-01 0 days 2,181 sqft
2022-04-01 0 days 2,186 sqft
Sumter's median listing age (time on market) for 2022-04-01 was 0 days.

Sumter's median square footage for active listings during the 2022-04-01 period was 2,186 sqft. One year prior, the average listing was 1,914 sqft.