Sumter VA Loans

SUMTER, SC

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    • 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.