Sumter USDA Loan Rates, Closing Costs & Stats

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 10 lenders originated 13 USDA loans during 2023. The total origination value was $2,285,000, with an average USDA loan value of $175,769.

Sumter USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Sumter averaged 6.73% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

Sumter's average USDA mortgage closing costs are $4,681.

The average rate for the prior week (2024-05-10) was 6.37% and one month ago for the week of 2024-04-12, the average rate was 6.7%.

The average rate one year ago was 5.98%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.95%.

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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Sumter level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Trustmark National Bank 3 6.79% $7,140
CHURCHILL MORTGAGE CORPORATION 1 5.75% $7,867
DHI MORTGAGE COMPANY, LTD. 1 5.99% $4,947
Gateway First Bank 1 5.50% $7,754
GSF Mortgage Corporation 1 6.00% $6,787
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $5,358
MOVEMENT MORTGAGE, LLC 1 6.25% $9,365
Paramount Residential Mortgage Group, Inc. 1 6.63% $6,564
RESOURCE FINANCIAL SERVICES, INC. 1 6.25% $7,195
GUILD MORTGAGE COMPANY 1 6.50% $7,475

The top Sumter USDA lender as defined by loan originations is Trustmark National Bank, with 3 USDA loans originated. Their average total fees are $7,140, which is $727 lower than the next largest lender, CHURCHILL MORTGAGE CORPORATION.

The lowest fee Sumter USDA lenders (with over 10 loans originated) are .

The lowest rate Sumter USDA lenders (with over 10 loans originated) are .


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 $159,995 (-0.7%) $183,810 (-3.3%) 0.00 603
2018-02-01 $165,850 (3.7%) $186,713 (-0.8%) 0.00 588
2018-03-01 $163,900 (-0.6%) $188,786 (0.0%) 0.00 553
2018-04-01 $168,000 (0.8%) $194,416 (1.9%) 0.00 573
2018-05-01 $169,650 (2.8%) $196,130 (2.9%) 0.00 570
2018-06-01 $172,000 (4.0%) $199,104 (4.5%) 0.00 552
2018-07-01 $173,825 (4.1%) $205,484 (8.2%) 0.00 549
2018-08-01 $169,900 (3.0%) $204,259 (8.0%) 0.00 541
2018-09-01 $166,928 (1.2%) $200,399 (7.4%) 0.00 533
2018-10-01 $159,900 (-3.1%) $198,562 (5.5%) 0.00 540
2018-11-01 $164,900 (0.0%) $199,647 (6.6%) 0.00 528
2018-12-01 $167,000 (1.4%) $196,015 (6.8%) 0.00 514
2019-01-01 $167,425 (4.6%) $196,394 (6.9%) 0.00 478
2019-02-01 $169,925 (2.5%) $196,863 (5.4%) 0.00 501
2019-03-01 $179,605 (9.6%) $197,913 (4.8%) 0.00 544
2019-04-01 $184,600 (9.9%) $201,985 (3.9%) 0.00 580
2019-05-01 $189,500 (11.7%) $208,114 (6.1%) 0.00 569
2019-06-01 $193,620 (12.6%) $211,001 (6.0%) 0.00 532
2019-07-01 $189,450 (9.0%) $207,072 (0.8%) 0.00 502
2019-08-01 $186,409 (9.7%) $204,662 (0.2%) 0.00 509
2019-09-01 $187,023 (12.0%) $202,759 (1.2%) 0.00 508
2019-10-01 $187,432 (17.2%) $201,755 (1.6%) 0.00 504
2019-11-01 $188,500 (14.3%) $204,352 (2.4%) 0.00 486
2019-12-01 $186,750 (11.8%) $204,508 (4.3%) 0.00 457
2020-01-01 $194,652 (16.3%) $209,936 (6.9%) 0.00 411
2020-02-01 $199,000 (17.1%) $212,513 (8.0%) 0.00 398
2020-03-01 $194,977 (8.6%) $210,051 (6.1%) 0.00 390
2020-04-01 $194,529 (5.4%) $212,665 (5.3%) 0.00 392
2020-05-01 $190,000 (0.3%) $209,731 (0.8%) 0.00 360
2020-06-01 $189,500 (-2.1%) $209,590 (-0.7%) 0.00 319
2020-07-01 $189,500 (0.0%) $223,987 (8.2%) 0.00 275
2020-08-01 $190,450 (2.2%) $230,373 (12.6%) 0.00 243
2020-09-01 $189,750 (1.5%) $240,752 (18.7%) 0.00 226
2020-10-01 $191,400 (2.1%) $244,572 (21.2%) 0.00 215
2020-11-01 $200,547 (6.4%) $246,144 (20.5%) 0.00 209
2020-12-01 $188,250 (0.8%) $233,015 (13.9%) 0.00 202
2021-01-01 $185,000 (-5.0%) $225,825 (7.6%) 0.00 188
2021-02-01 $180,950 (-9.1%) $221,496 (4.2%) 0.00 186
2021-03-01 $184,900 (-5.2%) $234,719 (11.7%) 0.00 176
2021-04-01 $189,700 (-2.5%) $236,778 (11.3%) 0.00 154
2021-05-01 $199,000 (4.7%) $249,865 (19.1%) 0.00 121
2021-06-01 $189,950 (0.2%) $319,567 (52.5%) 0.00 129
2021-07-01 $194,950 (2.9%) $316,701 (41.4%) 0.00 137
2021-08-01 $212,200 (11.4%) $285,193 (23.8%) 0.00 131
2021-09-01 $207,000 (9.1%) $283,530 (17.8%) 0.00 138
2021-10-01 $200,000 (4.5%) $276,007 (12.9%) 0.00 156
2021-11-01 $223,500 (11.5%) $268,221 (9.0%) 0.00 178
2021-12-01 $219,700 (16.7%) $277,226 (19.0%) 0.00 176
2022-01-01 $249,900 (35.1%) $267,297 (18.4%) 0.00 168
2022-02-01 $254,739 (40.8%) $257,405 (16.2%) 0.00 152
2022-03-01 $261,641 (41.5%) $299,092 (27.4%) 0.00 140
2022-04-01 $270,170 (42.4%) $317,582 (34.1%) 0.00 131
2022-05-01 $269,000 (35.2%) $305,962 (22.5%) 0.00 178
2022-06-01 $269,450 (41.9%) $283,717 (-11.2%) 0.00 228
2022-07-01 $279,900 (43.6%) $292,771 (-7.6%) 0.00 254
2022-08-01 $289,700 (36.5%) $301,875 (5.9%) 0.00 331
2022-09-01 $285,163 (37.8%) $299,225 (5.5%) 0.00 364
2022-10-01 $284,563 (42.3%) $296,899 (7.6%) 0.00 375
2022-11-01 $284,111 (27.1%) $293,014 (9.2%) 0.00 388
2022-12-01 $275,000 (25.2%) $286,972 (3.5%) 0.00 399
2023-01-01 $284,573 (13.9%) $286,727 (7.3%) 0.00 396
2023-02-01 $293,249 (15.1%) $300,482 (16.7%) 0.00 394
2023-03-01 $293,105 (12.0%) $299,633 (0.2%) 0.00 360
2023-04-01 $285,000 (5.5%) $296,911 (-6.5%) 0.00 365
2023-05-01 $279,900 (4.1%) $291,776 (-4.6%) 0.00 338
2023-06-01 $282,948 (5.0%) $302,031 (6.5%) 0.00 348
2023-07-01 $285,000 (1.8%) $308,034 (5.2%) 0.00 331
2023-08-01 $285,950 (-1.3%) $312,511 (3.5%) 0.00 314
2023-09-01 $290,000 (1.7%) $312,036 (4.3%) 0.00 355
2023-10-01 $286,225 (0.6%) $311,290 (4.9%) 0.00 375
2023-11-01 $279,900 (-1.5%) $305,677 (4.3%) 0.00 410
2023-12-01 $287,257 (4.5%) $315,669 (10.0%) 0.00 383
2024-01-01 $290,000 (1.9%) $308,085 (7.5%) 0.00 387
2024-02-01 $287,000 (-2.1%) $305,916 (1.8%) 0.00 388
2024-03-01 $298,500 (1.8%) $315,273 (5.2%) 0.00 366
2024-04-01 $296,750 (4.1%) $324,675 (9.4%) 0.00 335
Sumter's median listing price for 2024-04-01 was $296,750, a difference of $11,750 (4.1%) versus the prior year and $-1,750 versus the prior month.

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

Sumter's average listing price for 2024-04-01 was $324,675, a difference of $27,764 (9.4%) versus the prior year and $9,402 versus the prior month.

For the 2024-04-01 period, Sumter had 335 MLS listings, a difference of -31 listings (-8%) versus the prior month and -30 listings (-8%) 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 1,906 sqft
2018-02-01 0 days 1,910 sqft
2018-03-01 0 days 1,908 sqft
2018-04-01 0 days 1,918 sqft
2018-05-01 0 days 1,929 sqft
2018-06-01 0 days 1,918 sqft
2018-07-01 0 days 1,924 sqft
2018-08-01 0 days 1,915 sqft
2018-09-01 0 days 1,889 sqft
2018-10-01 0 days 1,857 sqft
2018-11-01 0 days 1,900 sqft
2018-12-01 0 days 1,905 sqft
2019-01-01 0 days 1,908 sqft
2019-02-01 0 days 1,910 sqft
2019-03-01 0 days 1,945 sqft
2019-04-01 0 days 1,961 sqft
2019-05-01 0 days 1,990 sqft
2019-06-01 0 days 2,003 sqft
2019-07-01 0 days 1,954 sqft
2019-08-01 0 days 1,942 sqft
2019-09-01 0 days 1,953 sqft
2019-10-01 0 days 1,965 sqft
2019-11-01 0 days 1,992 sqft
2019-12-01 0 days 1,940 sqft
2020-01-01 0 days 1,981 sqft
2020-02-01 0 days 1,959 sqft
2020-03-01 0 days 1,910 sqft
2020-04-01 0 days 1,879 sqft
2020-05-01 0 days 1,877 sqft
2020-06-01 0 days 1,871 sqft
2020-07-01 0 days 1,877 sqft
2020-08-01 0 days 1,921 sqft
2020-09-01 0 days 1,903 sqft
2020-10-01 0 days 1,951 sqft
2020-11-01 0 days 1,984 sqft
2020-12-01 0 days 1,922 sqft
2021-01-01 0 days 1,871 sqft
2021-02-01 0 days 1,862 sqft
2021-03-01 0 days 1,850 sqft
2021-04-01 0 days 1,893 sqft
2021-05-01 0 days 1,968 sqft
2021-06-01 0 days 1,921 sqft
2021-07-01 0 days 1,873 sqft
2021-08-01 0 days 1,967 sqft
2021-09-01 0 days 1,923 sqft
2021-10-01 0 days 1,952 sqft
2021-11-01 0 days 1,942 sqft
2021-12-01 0 days 1,945 sqft
2022-01-01 0 days 1,996 sqft
2022-02-01 0 days 2,035 sqft
2022-03-01 0 days 2,024 sqft
2022-04-01 0 days 2,034 sqft
2022-05-01 0 days 2,048 sqft
2022-06-01 0 days 2,003 sqft
2022-07-01 0 days 2,031 sqft
2022-08-01 0 days 2,068 sqft
2022-09-01 0 days 2,035 sqft
2022-10-01 0 days 2,026 sqft
2022-11-01 0 days 2,026 sqft
2022-12-01 0 days 2,035 sqft
2023-01-01 0 days 2,039 sqft
2023-02-01 0 days 2,086 sqft
2023-03-01 0 days 2,071 sqft
2023-04-01 0 days 2,071 sqft
2023-05-01 0 days 2,008 sqft
2023-06-01 0 days 2,006 sqft
2023-07-01 0 days 2,050 sqft
2023-08-01 0 days 1,977 sqft
2023-09-01 0 days 2,004 sqft
2023-10-01 0 days 1,983 sqft
2023-11-01 0 days 1,936 sqft
2023-12-01 0 days 1,988 sqft
2024-01-01 0 days 2,015 sqft
2024-02-01 0 days 2,019 sqft
2024-03-01 0 days 2,072 sqft
2024-04-01 0 days 2,076 sqft
Sumter's median listing age (time on market) for 2024-04-01 was 0 days.

Sumter's median square footage for active listings during the 2024-04-01 period was 2,076 sqft. One year prior, the average listing was 2,071 sqft.