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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.