Sumter VA Loans

SUMTER, SC

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

Sumter's 121 lenders originated 1,607 VA loans during 2021. The total origination value was $334,325,000, with an average VA loan value of $208,043.

Sumter VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in Sumter averaged 5.63% for the week of 2022-05-13, compared to the national average (all VA variants) of 5.158% for the same period.

The average rate for the prior week (2022-05-06) was 5.36% and one month ago for the week of 2022-04-08, the average rate was 4.78%.

The average rate one year ago was 3.2%.

For refis of the same type during the week of 2022-05-13, the average rate was 4.91%.

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

Sumter VA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for VA 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
Mortgage Research Center, LLC 188 2.88% $6,136
QUICKEN LOANS, LLC 98 2.52% $3,581
Trustmark National Bank 96 2.72% $5,911
FREEDOM MORTGAGE CORPORATION 87 2.52% $2,748
GUARANTEED RATE AFFINITY, LLC 72 2.75% $6,096
MOVEMENT MORTGAGE, LLC 71 2.73% $4,059
GUILD MORTGAGE COMPANY 61 2.88% $7,586
USAA Federal Savings Bank 52 2.87% $5,418
Gateway First Bank 51 2.91% $6,493
PENNYMAC LOAN SERVICES, LLC 49 2.53% $4,755
NAVY FEDERAL CREDIT UNION 49 2.51% $4,683
UNITED WHOLESALE MORTGAGE, LLC 41 2.54% $5,930
RESOURCE FINANCIAL SERVICES, INC. 37 2.95% $4,891
LAKEVIEW LOAN SERVICING, LLC 25 2.60% $2,110
CLEARPATH LENDING 24 2.44% $4,583
NEW DAY FINANCIAL, LLC 23 2.76% $4,728
VILLAGE CAPITAL & INVESTMENT LLC 22 2.28% $3,000
LOANDEPOT.COM, LLC 21 3.03% $5,360
Wells Fargo Bank 19 2.55% $3,531
Ameris Bank 16 2.59% $5,693
BAY EQUITY LLC 16 2.97% $6,550
SUCCESS MORTGAGE PARTNERS, INC. 13 2.83% $5,634
The Federal Savings Bank 12 2.67% $4,858
CALIBER HOME LOANS, INC. 12 2.73% $5,075
Mr. Cooper ( Nationstar Mortgage ) 11 3.13% $3,139
MORTGAGE SOLUTIONS OF COLORADO, LLC 11 3.13% $2,815
GUARANTEED RATE, INC. 11 2.55% $6,083
Carrington Mortgage Services, LLC 9 4.10% $2,948
Low VA Rates, LLC 9 2.33% $3,818
Prosperity Home Mortgage, LLC 8 2.84% $4,756
PENTAGON FEDERAL CREDIT UNION 8 2.41% $3,183
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 2.94% $4,937
NEWREZ LLC 8 2.97% $2,283
CROSSCOUNTRY MORTGAGE, LLC 7 2.96% $8,160
Barrington Bank & Trust Company, N.A. 7 3.11% $4,191
AMERICAN FINANCIAL NETWORK, INC. 6 2.75% $6,171
BROKER SOLUTIONS, INC. 6 2.85% $7,602
NBKC BANK 6 2.63% $5,296
Lakeview Community Capital, LLC 6 2.50% $2,373
Magnolia Bank 6 2.65% $5,917
AMERISAVE MORTGAGE CORPORATION 5 2.68% $4,750
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 2.96% $5,149
First Guaranty Mortgage Corporation 4 2.75% $4,702
HOME POINT FINANCIAL CORPORATION 4 2.47% $2,558
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 3.06% $11,285
First Federal Bank 4 2.69% $8,757
LENDUS, LLC 4 3.25% $4,742
PLANET HOME LENDING, LLC 4 2.50% $4,885
FINANCE OF AMERICA MORTGAGE LLC 4 2.88% $5,104
CONTOUR MORTGAGE CORPORATION 3 2.63% $4,978
BNC National Bank 3 2.21% $7,812
SOVEREIGN LENDING GROUP INCORPORATED 3 2.33% $4,462
LOANPAL, LLC 3 2.67% $4,815
North American Savings Bank, F.S.B. 3 2.42% $2,866
ACCELERATE MORTGAGE, LLC 2 1.75% $9,152
AMERICAN FINANCIAL RESOURCES, INC. 2 2.81% $3,871
AMERIFIRST FINANCIAL CORPORATION 2 3.75% $7,702
ANGEL OAK HOME LOANS LLC 2 2.94% $6,194
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.00% $5,341
Assurance Financial Group, L.L.C. 2 3.31% $6,954
CHURCHILL MORTGAGE CORPORATION 2 3.00% $5,866
CMG MORTGAGE, INC. 2 2.75% $2,359
First-Citizens Bank & Trust Company 2 2.69% $3,092
First Home Bank 2 3.25% $3,491
MUTUAL OF OMAHA MORTGAGE, INC. 2 3.00% $4,272
NTFN, INC. 2 3.00% $3,754
SOUTHWEST STAGE FUNDING, LLC 2 3.06% $0
SUN WEST MORTGAGE COMPANY, INC. 2 3.31% $3,216
U.S. Bank 2 2.88% $4,527
Wyndham Capital Mortgage, Inc. 2 2.31% $658
Mid-Continent Funding, Inc. 1 2.75% $2,952
MIDLAND MORTGAGE CORPORATION 1 2.25% $2,991
Hometown Equity Mortgage, LLC 1 3.75% $1,987
HOMESTAR FINANCIAL CORPORATION 1 2.88% $4,119
GUARANTY HOME MORTGAGE CORPORATION 1 2.75% $3,219
Flagstar Bank, FSB 1 3.00% $13,805
American Security Mortgage Corp. 1 2.50% $3,407
NATIONS DIRECT MORTGAGE, LLC 1 3.88% $2,944
Nations Lending Corporation 1 3.38% $3,694
First Savings Bank 1 3.25% $6,830
First Reliance Bank 1 3.25% $2,770
First Midwest Bank 1 2.25% $1,037
First Federal Bank of Kansas City 1 2.75% $9,318
FAMILY FIRST FUNDING LLC 1 3.50% $21,494
Northpointe Bank 1 2.88% $10,133
NP, Inc. 1 2.25% $3,934
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.13% $11,433
ON Q FINANCIAL, INC. 1 3.25% $3,357
PANORAMA MORTGAGE GROUP, LLC 1 3.25% $11,065
FAIR WAY LENDING LLC 1 2.38% $6,685
Equity Prime Mortgage LLC 1 2.63% $4,744
Colten Mortgage, LLC 1 3.00% $3,977
PLAZA HOME MORTGAGE, INC. 1 2.25% $2,719
POLARIS HOME FUNDING CORP. 1 2.63% $2,676
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 2.25% $2,074
Capital Bank 1 2.38% $1,892
CALCON MUTUAL MORTGAGE LLC 1 3.75% $6,421
Regions Bank 1 3.25% $3,424
Republic Bank & Trust Company 1 2.38% $1,473
RESIDENTIAL MORTGAGE SERVICES, INC. 1 3.75% $37
Bank of America 1 2.75% $2,765
South State Bank 1 2.25% $12,254
SOUTHWEST FUNDING, LP 1 4.00% $7,081
VAN DYK MORTGAGE CORPORATION 1 2.75% $8,323
BancorpSouth Bank 1 3.38% $6,002
STEARNS LENDING, LLC 1 2.38% $2,399
Stock Yards Bank & Trust Company 1 2.75% $7,506
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 2.38% $2,710
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.25% $20,239
Synovus Bank 1 3.00% $5,544
Armed Forces Bank 1 2.25% $5,134
THE MORTGAGE FIRM, INC. 1 3.00% $3,496
TJC Mortgage, Inc. 1 2.25% $3,924
AmRes Corporation 1 2.75% $5,241
AmeriHome Mortgage Company, LLC 1 2.99% $1,210
KS StateBank 1 2.25% $5,347
InterContinental Capital Group, Inc 1 2.75% $3,083
INTERCOASTAL MORTGAGE COMPANY 1 2.75% $2,099
Hometown Lenders, Inc. 1 3.75% $10,128
Manufacturers and Traders Trust Company 1 2.75% $3,022
MASON MCDUFFIE MORTGAGE CORPORATION 1 2.75% $11,169

The top Sumter VA lender as defined by loan originations is Mortgage Research Center, LLC, with 188 VA loans originated. Their average total fees are $6,136, which is $2,555 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Sumter VA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($2,110), FREEDOM MORTGAGE CORPORATION ($2,748), MORTGAGE SOLUTIONS OF COLORADO, LLC ($2,815), VILLAGE CAPITAL & INVESTMENT LLC ($3,000) and Mr. Cooper ( Nationstar Mortgage ) ($3,139).

The lowest rate Sumter VA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.28%), CLEARPATH LENDING (2.44%), NAVY FEDERAL CREDIT UNION (2.51%), QUICKEN LOANS, LLC (2.52%) and FREEDOM MORTGAGE CORPORATION (2.52%).


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.

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.