Sumter USDA Loan Rates, Closing Costs & Stats

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 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 6.64% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.5% and one month ago for the week of 2024-03-15, the average rate was 6.38%.

    The average rate one year ago was 6.02%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

    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
    Sumter's median listing price for 2024-03-01 was $298,500, a difference of $5,395 (1.8%) versus the prior year and $11,500 versus the prior month.

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

    Sumter's average listing price for 2024-03-01 was $315,273, a difference of $15,640 (5.2%) versus the prior year and $9,357 versus the prior month.

    For the 2024-03-01 period, Sumter had 366 MLS listings, a difference of -22 listings (-6%) versus the prior month and 6 listings (2%) 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
    Sumter's median listing age (time on market) for 2024-03-01 was 0 days.

    Sumter's median square footage for active listings during the 2024-03-01 period was 2,072 sqft. One year prior, the average listing was 2,071 sqft.