Sumter USDA Loans

SUMTER, SC

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    • 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.