Summerville Mortgage Rates & Closing Costs

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  • Trends
  • Rates vs. Fees
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  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Summerville averaged 6.91% for the week of 2023-03-23, compared to the national average of 6.42% for the same period.

    The average rate for the prior week (2023-03-16) was 7.09% and one month ago for the week of 2023-02-16, the average rate was 6.61%.

    Summerville's average rate one year ago was 3.97%.

    For refis of the same type during the week of 2023-03-23, the average rate was 7.27%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-03-23 6.42%
    Summerville 30 Year Fixed Rate 2023-03-23 6.91%
    Summerville 30 Year Fixed Rate Refi 2023-03-23 7.27%
    Summerville 15 Year Fixed Rate 2023-03-23 6.55%
    Summerville 15 Year Fixed Rate Refi 2023-03-23 6.61%
    Summerville 30 Year FHA 2023-03-23 6.33%
    Summerville 30 Year FHA Refi 2023-03-23 6.37%
    Summerville 30 Year USDA 2023-03-23 6.27%
    Summerville 30 Year USDA Refi 2023-03-23 3.94%
    Summerville 30 Year VA 2023-03-23 6.05%
    Summerville 30 Year VA Refi 2023-03-23 5.48%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Summerville, GA.

    Summerville Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Summerville, GA market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    United Community Bank 16 5.02% $4,035
    FirstBank 13 4.82% $5,521
    QUICKEN LOANS, LLC 9 5.36% $6,338
    Regions Bank 7 4.05% $5,593
    UNITED WHOLESALE MORTGAGE, LLC 5 5.57% $4,723
    HOMESTAR FINANCIAL CORPORATION 4 4.78% $1,980
    PEACH STATE FEDERAL CREDIT UNION 4 4.72% $5,814
    Carrington Mortgage Services, LLC 3 4.54% $4,840
    South State Bank 3 4.17% $6,313
    LOANDEPOT.COM, LLC 3 4.29% $4,138
    MORTGAGE INVESTORS GROUP, INC. 2 4.75% $7,180
    TJC Mortgage, Inc. 2 5.81% $3,841
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.69% $5,381
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 5.00% $4,836
    MOVEMENT MORTGAGE, LLC 2 5.84% $5,701
    Mr. Cooper ( Nationstar Mortgage ) 2 4.88% $7,138
    NAVY FEDERAL CREDIT UNION 2 6.38% $4,987
    Independent Bank 1 3.50% $4,592
    LAKEVIEW LOAN SERVICING, LLC 1 5.88% $4,553
    ACOPIA, LLC 1 6.13% $4,421
    Mortgage Assurance Inc. 1 4.88% $4,342
    M&T Bank 1 4.88% $4,140
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.38% $5,057
    SANCTUARY HOME MORTGAGE LLC 1 4.13% $3,815
    SUMMIT FUNDING, INC. 1 5.88% $3,358
    SWBC MORTGAGE CORPORATION 1 6.63% $81
    Truist 1 6.10% $2,992
    Wells Fargo Bank 1 5.25% $9,687
    Willamette Valley Bank 1 6.13% $8,288
    Wyndham Capital Mortgage, Inc. 1 5.13% $4,267
    LAND HOME FINANCIAL SERVICES, INC. 1 7.25% $3,504
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $5,563
    ANGEL OAK MORTGAGE SOLUTIONS LLC 1 5.38% $10,219
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.88% $6,273
    BANKSOUTH MORTGAGE COMPANY, LLC 1 3.88% $5,959
    CALIBER HOME LOANS, INC. 1 3.65% $2,222
    CANOPY MORTGAGE, LLC 1 5.99% $10,195
    CROSSCOUNTRY MORTGAGE, LLC 1 4.25% $13,361
    DELTA COMMUNITY CREDIT UNION 1 4.88% $2,596
    Equity Prime Mortgage LLC 1 5.38% $11,400
    EVERETT FINANCIAL, INC. 1 3.88% $3,746
    First Federal Bank 1 4.63% $6,656
    FREEDOM MORTGAGE CORPORATION 1 5.88% $3,779
    GEORGIA UNITED 1 5.50% $5,200
    GUARANTEED RATE, INC. 1 5.95% $6,560
    GUILD MORTGAGE COMPANY 1 5.25% $6,212
    HOME POINT FINANCIAL CORPORATION 1 3.49% $2,907

    Summerville Average Closing Costs & Other Stats

    Summerville, GA's 47 lenders originated 429 loans during 2022. The total origination value was $65,485,000, with an average loan value of $152,646.

    Summerville's average closing costs are $4,988.

    The top Summerville lender as defined by loan originations is United Community Bank, with 16 loans originated. Their average total fees are $4,035, which is $1,486 lower than the next largest lender, FirstBank.

    The lowest fee Summerville lenders (with over 10 loans originated) are United Community Bank ($4,035), FirstBank ($5,521), .

    The lowest rate Summerville lenders (with over 10 loans originated) are FirstBank (4.82%), United Community Bank (5.02%), .

    Summerville, GA Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    United Community Bank $10,020,000 $12,200,000 21.8% 18.6%
    FirstBank $6,855,000 $6,255,000 -8.8% 9.6%
    QUICKEN LOANS, LLC $9,390,000 $3,555,000 -62.1% 5.4%
    HOMESTAR FINANCIAL CORPORATION $3,220,000 $3,485,000 8.2% 5.3%
    UNITED WHOLESALE MORTGAGE, LLC $405,000 $3,110,000 667.9% 4.7%
    Regions Bank $2,120,000 $3,095,000 46.0% 4.7%
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. $1,070,000 $1,720,000 60.7% 2.6%
    VANDERBILT MORTGAGE AND FINANCE, INC. $1,120,000 $1,530,000 36.6% 2.3%
    PEACH STATE FEDERAL CREDIT UNION $565,000 $1,175,000 108.0% 1.8%
    Truist $1,590,000 $1,075,000 -32.4% 1.6%
    MOVEMENT MORTGAGE, LLC $980,000 $1,070,000 9.2% 1.6%
    Mortgage Research Center, LLC $1,195,000 $970,000 -18.8% 1.5%
    Wells Fargo Bank $940,000 $910,000 -3.2% 1.4%
    LOANDEPOT.COM, LLC $1,630,000 $895,000 -45.1% 1.4%
    SUMMIT FUNDING, INC. $765,000 $870,000 13.7% 1.3%
    NAVY FEDERAL CREDIT UNION $365,000 $845,000 131.5% 1.3%
    South State Bank $1,405,000 $735,000 -47.7% 1.1%
    PENNYMAC LOAN SERVICES, LLC $1,085,000 $705,000 -35.0% 1.1%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $2,090,000 $660,000 -68.4% 1.0%
    TRIAD FINANCIAL SERVICES, INC. $660,000 n/a 1.0%
    NEW DAY FINANCIAL, LLC $705,000 $640,000 -9.2% 1.0%
    CANOPY MORTGAGE, LLC $625,000 n/a 1.0%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $1,610,000 $585,000 -63.7% 0.9%
    The Bank of LaFayette, Georgia $1,845,000 $585,000 -68.3% 0.9%
    Equity Prime Mortgage LLC $85,000 $570,000 570.6% 0.9%
    Mr. Cooper ( Nationstar Mortgage ) $1,305,000 $565,000 -56.7% 0.9%
    Flagstar Bank, FSB $610,000 $555,000 -9.0% 0.8%
    MORTGAGE INVESTORS GROUP, INC. $1,130,000 $540,000 -52.2% 0.8%
    LEADERONE FINANCIAL CORPORATION $560,000 $525,000 -6.3% 0.8%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $125,000 $500,000 300.0% 0.8%
    SUCCESS MORTGAGE PARTNERS, INC. $495,000 n/a 0.8%
    CROSSCOUNTRY MORTGAGE, LLC $480,000 n/a 0.7%
    ACOPIA, LLC $475,000 n/a 0.7%
    TENNESSEE VALLEY $765,000 $460,000 -39.9% 0.7%
    21ST MORTGAGE CORPORATION $310,000 $390,000 25.8% 0.6%
    Carrington Mortgage Services, LLC $385,000 n/a 0.6%
    EVERETT FINANCIAL, INC. $385,000 n/a 0.6%
    STOCKTON MORTGAGE CORPORATION $365,000 n/a 0.6%
    USAA Federal Savings Bank $365,000 $365,000 0.0% 0.6%
    BROKER SOLUTIONS, INC. $330,000 n/a 0.5%
    ANGEL OAK MORTGAGE SOLUTIONS LLC $325,000 n/a 0.5%
    CALIBER HOME LOANS, INC. $810,000 $320,000 -60.5% 0.5%
    HOME POINT FINANCIAL CORPORATION $170,000 $320,000 88.2% 0.5%
    LAKEVIEW LOAN SERVICING, LLC $300,000 $300,000 0.0% 0.5%
    RELIANCE FIRST CAPITAL, LLC $300,000 n/a 0.5%
    Ameris Bank $290,000 n/a 0.4%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $115,000 $280,000 143.5% 0.4%
    First Federal Bank $565,000 $265,000 -53.1% 0.4%
    Nations Lending Corporation $155,000 $255,000 64.5% 0.4%
    PNC Bank $175,000 $255,000 45.7% 0.4%
    Independent Bank $245,000 n/a 0.4%
    DAS Acquisition Company, LLC $665,000 $225,000 -66.2% 0.3%
    Renasant Bank $200,000 $225,000 12.5% 0.3%
    Willamette Valley Bank $225,000 n/a 0.3%
    TJC Mortgage, Inc. $240,000 $220,000 -8.3% 0.3%
    BANKSOUTH MORTGAGE COMPANY, LLC $215,000 n/a 0.3%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $215,000 n/a 0.3%
    Hometown Equity Mortgage, LLC $175,000 $215,000 22.9% 0.3%
    ANGEL OAK HOME LOANS LLC $205,000 n/a 0.3%
    GEORGIA UNITED $205,000 n/a 0.3%
    GUARANTEED RATE, INC. $210,000 $205,000 -2.4% 0.3%
    LOANPAL, LLC $205,000 n/a 0.3%
    CERTAINTY HOME LOANS, LLC $485,000 $195,000 -59.8% 0.3%
    HOMEOWNERS FINANCIAL GROUP USA, LLC $185,000 n/a 0.3%
    SOUTHEAST MORTGAGE OF GEORGIA, INC. $185,000 n/a 0.3%
    HOMESIDE FINANCIAL, LLC $75,000 $175,000 133.3% 0.3%
    Shamrock Home Loans, Inc. $175,000 n/a 0.3%
    Wyndham Capital Mortgage, Inc. $335,000 $175,000 -47.8% 0.3%
    First Citizens National Bank $165,000 n/a 0.3%
    Goldwater Bank, N.A. $165,000 n/a 0.3%
    GUILD MORTGAGE COMPANY $165,000 n/a 0.3%
    FIRST COMMUNITY MORTGAGE, INC. $405,000 $155,000 -61.7% 0.2%
    COUNTRYPLACE MORTGAGE, LTD. $145,000 n/a 0.2%
    LAND HOME FINANCIAL SERVICES, INC. $145,000 n/a 0.2%
    Mortgage Assurance Inc. $145,000 $145,000 0.0% 0.2%
    NEWREZ LLC $690,000 $145,000 -79.0% 0.2%
    US MORTGAGE CORPORATION $145,000 n/a 0.2%
    CSL Financial, LLC $180,000 $135,000 -25.0% 0.2%
    MORTGAGE SOLUTIONS OF COLORADO, LLC $135,000 n/a 0.2%
    PLANET HOME LENDING, LLC $145,000 $135,000 -6.9% 0.2%
    FAMILY SAVINGS $145,000 $125,000 -13.8% 0.2%
    LONGBRIDGE FINANCIAL, LLC $125,000 n/a 0.2%
    SANCTUARY HOME MORTGAGE LLC $125,000 n/a 0.2%
    SWBC MORTGAGE CORPORATION $380,000 $115,000 -69.7% 0.2%
    Figure Lending LLC $110,000 n/a 0.2%
    FREEDOM MORTGAGE CORPORATION $1,535,000 $105,000 -93.2% 0.2%
    AMERISAVE MORTGAGE CORPORATION $1,410,000 $95,000 -93.3% 0.1%
    Alcova Mortgage LLC $85,000 n/a 0.1%
    ROYAL UNITED MORTGAGE LLC $85,000 n/a 0.1%
    Fifth Third Bank $75,000 n/a 0.1%
    Lakeview Community Capital, LLC $65,000 n/a 0.1%
    M&T Bank $55,000 n/a 0.1%
    DELTA COMMUNITY CREDIT UNION $105,000 $45,000 -57.1% 0.1%
    ATLANTA POSTAL $35,000 n/a 0.1%

    Summerville's top lender by overall market share is United Community Bank, with 18.6% market share. In second place, with 9.6%, is FirstBank, having originated $6,255,000 in loans. In third place, with 5.4%, is QUICKEN LOANS, LLC, having originated $3,555,000 in loans. In fourth place, with 5.3%, is HOMESTAR FINANCIAL CORPORATION, having originated $3,485,000 in loans. In fifth place, with 4.7%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $3,110,000 in loans.

    Summerville Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Summerville (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 $99,900 (7.5%) $185,777 (-3.8%) 0.00 57
    2018-02-01 $106,000 (14.1%) $185,345 (-5.6%) 0.00 62
    2018-03-01 $100,000 (4.8%) $170,160 (-9.0%) 0.00 65
    2018-04-01 $97,500 (-2.5%) $159,013 (-15.9%) 0.00 73
    2018-05-01 $99,450 (4.0%) $149,054 (-16.7%) 0.00 71
    2018-06-01 $129,900 (38.3%) $172,947 (-2.1%) 0.00 70
    2018-07-01 $128,225 (28.2%) $173,000 (1.6%) 0.00 77
    2018-08-01 $128,325 (37.4%) $181,549 (8.3%) 0.00 74
    2018-09-01 $128,700 (20.3%) $195,487 (1.3%) 0.00 63
    2018-10-01 $117,425 (-7.9%) $177,121 (-10.8%) 0.00 69
    2018-11-01 $127,175 (-0.4%) $207,125 (2.7%) 0.00 69
    2018-12-01 $129,950 (4.0%) $241,893 (23.6%) 0.00 64
    2019-01-01 $148,700 (48.9%) $240,049 (29.2%) 0.00 59
    2019-02-01 $149,475 (41.0%) $246,212 (32.8%) 0.00 61
    2019-03-01 $150,814 (50.8%) $241,801 (42.1%) 0.00 61
    2019-04-01 $142,789 (46.5%) $229,136 (44.1%) 0.00 62
    2019-05-01 $147,250 (48.1%) $229,731 (54.1%) 0.00 68
    2019-06-01 $136,450 (5.0%) $230,071 (33.0%) 0.00 68
    2019-07-01 $134,450 (4.9%) $227,598 (31.6%) 0.00 74
    2019-08-01 $131,527 (2.5%) $230,449 (26.9%) 0.00 73
    2019-09-01 $130,106 (1.1%) $240,376 (23.0%) 0.00 74
    2019-10-01 $129,383 (10.2%) $251,246 (41.9%) 0.00 73
    2019-11-01 $125,000 (-1.7%) $231,604 (11.8%) 0.00 70
    2019-12-01 $122,200 (-6.0%) $200,100 (-17.3%) 0.00 68
    2020-01-01 $120,575 (-18.9%) $198,959 (-17.1%) 0.00 64
    2020-02-01 $120,000 (-19.7%) $216,120 (-12.2%) 0.00 65
    2020-03-01 $121,200 (-19.6%) $203,580 (-15.8%) 0.00 65
    2020-04-01 $123,500 (-13.5%) $188,425 (-17.8%) 0.00 67
    2020-05-01 $125,000 (-15.1%) $210,048 (-8.6%) 0.00 51
    2020-06-01 $161,150 (18.1%) $229,354 (-0.3%) 0.00 45
    2020-07-01 $167,225 (24.4%) $231,035 (1.5%) 0.00 38
    2020-08-01 $169,500 (28.9%) $193,303 (-16.1%) 0.00 35
    2020-09-01 $165,925 (27.5%) $186,691 (-22.3%) 0.00 25
    2020-10-01 $124,900 (-3.5%) $194,683 (-22.5%) 0.00 23
    2020-11-01 $124,925 (-0.1%) $164,090 (-29.2%) 0.00 22
    2020-12-01 $122,450 (0.2%) $163,045 (-18.5%) 0.00 19
    2021-01-01 $114,900 (-4.7%) $140,782 (-29.2%) 0.00 17
    2021-02-01 $124,425 (3.7%) $139,852 (-35.3%) 0.00 15
    2021-03-01 $132,500 (9.3%) $179,215 (-12.0%) 0.00 21
    2021-04-01 $166,625 (34.9%) $201,209 (6.8%) 0.00 19
    2021-05-01 $146,900 (17.5%) $176,995 (-15.7%) 0.00 18
    2021-06-01 $146,900 (-8.8%) $179,234 (-21.9%) 0.00 21
    2021-07-01 $179,900 (7.6%) $211,857 (-8.3%) 0.00 23
    2021-08-01 $201,725 (19.0%) $248,301 (28.5%) 0.00 25
    2021-09-01 $187,700 (13.1%) $266,144 (42.6%) 0.00 28
    2021-10-01 $249,900 (100.1%) $311,997 (60.3%) 0.00 33
    2021-11-01 $261,250 (109.1%) $368,258 (124.4%) 0.00 30
    2021-12-01 $268,124 (119.0%) $384,268 (135.7%) 0.00 36
    2022-01-01 $235,000 (104.5%) $358,866 (154.9%) 0.00 34
    2022-02-01 $208,675 (67.7%) $387,637 (177.2%) 0.00 33
    2022-03-01 $187,000 (41.1%) $357,846 (99.7%) 0.00 37
    2022-04-01 $235,000 (41.0%) $322,692 (60.4%) 0.00 37
    2022-05-01 $226,000 (53.9%) $339,756 (92.0%) 0.00 35
    2022-06-01 $249,225 (69.7%) $349,398 (94.9%) 0.00 37
    2022-07-01 $249,450 (38.7%) $362,153 (70.9%) 0.00 36
    2022-08-01 $279,725 (38.7%) $428,252 (72.5%) 0.00 34
    2022-09-01 $249,000 (32.7%) $356,700 (34.0%) 0.00 34
    2022-10-01 $229,950 (-8.0%) $352,285 (12.9%) 0.00 33
    2022-11-01 $224,675 (-14.0%) $326,681 (-11.3%) 0.00 38
    2022-12-01 $234,500 (-12.5%) $349,265 (-9.1%) 0.00 40
    2023-01-01 $226,175 (-3.8%) $330,905 (-7.8%) 0.00 42
    2023-02-01 $250,000 (19.8%) $362,790 (-6.4%) 0.00 38
    Summerville's median listing price for 2023-02-01 was $250,000, a difference of $41,325 (19.8%) versus the prior year and $23,825 versus the prior month.

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

    Summerville's average listing price for 2023-02-01 was $362,790, a difference of $-24,847 (-6.4%) versus the prior year and $31,885 versus the prior month.

    For the 2023-02-01 period, Summerville had 38 MLS listings, a difference of -4 listings (-10%) versus the prior month and 5 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Summerville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,542 sqft
    2018-02-01 0 days 1,586 sqft
    2018-03-01 0 days 1,696 sqft
    2018-04-01 0 days 1,658 sqft
    2018-05-01 0 days 1,616 sqft
    2018-06-01 0 days 1,595 sqft
    2018-07-01 0 days 1,533 sqft
    2018-08-01 0 days 1,574 sqft
    2018-09-01 0 days 1,595 sqft
    2018-10-01 0 days 1,548 sqft
    2018-11-01 0 days 1,603 sqft
    2018-12-01 0 days 1,684 sqft
    2019-01-01 0 days 1,780 sqft
    2019-02-01 0 days 1,626 sqft
    2019-03-01 0 days 1,631 sqft
    2019-04-01 0 days 1,641 sqft
    2019-05-01 0 days 1,778 sqft
    2019-06-01 0 days 1,848 sqft
    2019-07-01 0 days 1,831 sqft
    2019-08-01 0 days 1,799 sqft
    2019-09-01 0 days 1,698 sqft
    2019-10-01 0 days 1,608 sqft
    2019-11-01 0 days 1,386 sqft
    2019-12-01 0 days 1,372 sqft
    2020-01-01 0 days 1,465 sqft
    2020-02-01 0 days 1,568 sqft
    2020-03-01 0 days 1,396 sqft
    2020-04-01 0 days 1,384 sqft
    2020-05-01 0 days 1,588 sqft
    2020-06-01 0 days 1,708 sqft
    2020-07-01 0 days 1,663 sqft
    2020-08-01 0 days 1,703 sqft
    2020-09-01 0 days 1,693 sqft
    2020-10-01 0 days 1,466 sqft
    2020-11-01 0 days 1,241 sqft
    2020-12-01 0 days 1,307 sqft
    2021-01-01 0 days 1,344 sqft
    2021-02-01 0 days 1,502 sqft
    2021-03-01 0 days 1,494 sqft
    2021-04-01 0 days 1,874 sqft
    2021-05-01 0 days 1,635 sqft
    2021-06-01 0 days 1,566 sqft
    2021-07-01 0 days 1,774 sqft
    2021-08-01 0 days 1,826 sqft
    2021-09-01 0 days 1,903 sqft
    2021-10-01 0 days 2,119 sqft
    2021-11-01 0 days 2,326 sqft
    2021-12-01 0 days 2,347 sqft
    2022-01-01 0 days 1,848 sqft
    2022-02-01 0 days 1,638 sqft
    2022-03-01 0 days 1,604 sqft
    2022-04-01 0 days 1,710 sqft
    2022-05-01 0 days 1,599 sqft
    2022-06-01 0 days 1,713 sqft
    2022-07-01 0 days 2,095 sqft
    2022-08-01 0 days 2,267 sqft
    2022-09-01 0 days 1,924 sqft
    2022-10-01 0 days 1,884 sqft
    2022-11-01 0 days 1,870 sqft
    2022-12-01 0 days 1,828 sqft
    2023-01-01 0 days 1,757 sqft
    2023-02-01 0 days 1,804 sqft
    Summerville's median listing age (time on market) for 2023-02-01 was 0 days.

    Summerville's median square footage for active listings during the 2023-02-01 period was 1,804 sqft. One year prior, the average listing was 1,638 sqft.

    Summerville, GA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 223 $43,945,000 $197,063
    Cash Out Refi 77 $11,395,000 $147,987
    Refi 67 $5,645,000 $84,254
    Home Improvement 35 $2,155,000 $61,571
    Other 27 $2,345,000 $86,852

    Summerville's most frequently cited loan purpose was Home Purchase, with 223 originations. The 2nd most popular reason was Cash Out Refi, with 77 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    4-5% 108 $18,300,000 $169,444
    5-6% 100 $17,760,000 $177,600
    3-4% 96 $13,430,000 $139,896
    6-7% 48 $7,140,000 $148,750
    2.5-3% 34 $4,240,000 $124,706
    Over 8% 17 $1,605,000 $94,412
    7-8% 13 $1,705,000 $131,154
    <2.5% 6 $720,000 $120,000

    During 2022, Summerville's most frequently originated rate bucket was 4-5%, with 108 originations.

    Loan Sizing (Summerville, GA MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 183 $26,755,000 $146,202
    $100,000 or less 141 $8,165,000 $57,908
    $200k-400k 89 $22,695,000 $255,000
    $400k-600k 14 $6,620,000 $472,857
    $600k-1000k 2 $1,250,000 $625,000

    Summerville's loan sizing saw the bucket of loans from $100k-200k with 183 originations, totaling $26,755,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 178 $33,610,000 $188,820
    60-80% 91 $16,085,000 $176,758
    40-60% 55 $7,395,000 $134,455
    Under 20% 43 $1,455,000 $33,837
    20-40% 40 $3,090,000 $77,250
    Over 100% 11 $2,815,000 $255,909

    Summerville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 178 originations, totaling $33,610,000 in origination value.