Summerville Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Summerville averaged 7.27% for the week of 2024-04-25, compared to the national average of 7.17% for the same period.

    The average rate for the prior week (2024-04-18) was 7% and one month ago for the week of 2024-03-21, the average rate was 6.77%.

    Summerville's average rate one year ago was 6.49%.

    For refis of the same type during the week of 2024-04-25, the average rate was 7.67%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-25 7.17%
    Summerville 30 Year Fixed Rate 2024-04-25 7.27%
    Summerville 30 Year Fixed Rate Refi 2024-04-25 7.67%
    Summerville 15 Year Fixed Rate 2024-04-25 6.34%
    Summerville 15 Year Fixed Rate Refi 2024-04-25 6.84%
    Summerville 30 Year FHA 2024-04-25 7.08%
    Summerville 30 Year FHA Refi 2024-04-25 6.68%
    Summerville 30 Year USDA 2024-04-25 6.94%
    Summerville 30 Year USDA Refi 2024-04-25 7.04%
    Summerville 30 Year VA 2024-04-25 6.56%
    Summerville 30 Year VA Refi 2024-04-25 6.56%
    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    United Community Bank 12 6.85% $5,297
    QUICKEN LOANS, LLC 10 7.18% $5,818
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 7.23% $4,602
    UNION HOME MORTGAGE CORP. 4 7.00% $6,194
    Truist 4 7.09% $3,885
    UNITED WHOLESALE MORTGAGE, LLC 3 6.86% $5,074
    MOVEMENT MORTGAGE, LLC 2 7.68% $11,125
    TENNESSEE VALLEY 2 6.38% $6,912
    Synovus Bank 2 7.06% $5,596
    First Option Mortgage, LLC 2 7.69% $4,884
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.63% $5,179
    Mr. Cooper ( Nationstar Mortgage ) 1 7.99% $4,241
    NBKC BANK 1 5.88% $5,115
    Paramount Residential Mortgage Group, Inc. 1 6.88% $9,562
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.38% $7,279
    Regions Bank 1 6.38% $4,210
    Renasant Bank 1 8.99% $8,990
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 8.13% $5,499
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.00% $5,806
    SUMMIT FUNDING, INC. 1 5.63% $5,489
    SWBC MORTGAGE CORPORATION 1 6.88% $9,177
    THE MORTGAGE FIRM, INC. 1 6.50% $3,707
    21ST MORTGAGE CORPORATION 1 8.30% $5,311
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 7.63% $8,851
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.99% $5,093
    BancorpSouth 1 7.13% $5,968
    CARDINAL FINANCIAL 1 5.99% $7,683
    CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $11,612
    DAS Acquisition Company, LLC 1 6.50% $4,705
    DELTA COMMUNITY CREDIT UNION 1 6.50% $5,319
    EVERETT FINANCIAL, INC. 1 6.50% $14,948
    FirstBank 1 6.38% $5,686
    FIRST COMMUNITY MORTGAGE, INC. 1 6.75% $5,471

    Summerville Average Closing Costs & Other Stats

    Summerville, GA's 33 lenders originated 369 loans during 2023. The total origination value was $54,795,000, with an average loan value of $148,496.

    Summerville's average closing costs are $5,291.

    The top Summerville lender as defined by loan originations is United Community Bank, with 12 loans originated. Their average total fees are $5,297, which is $521 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Summerville lenders (with over 10 loans originated) are United Community Bank ($5,297), QUICKEN LOANS, LLC ($5,818), .

    The lowest rate Summerville lenders (with over 10 loans originated) are United Community Bank (6.85%), QUICKEN LOANS, LLC (7.18%), .

    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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    United Community Bank $12,200,000 $7,755,000 -36.4% 14.2%
    QUICKEN LOANS, LLC $3,555,000 $3,330,000 -6.3% 6.1%
    FirstBank $6,255,000 $2,880,000 -54.0% 5.3%
    The Bank of LaFayette, Georgia $585,000 $2,685,000 359.0% 4.9%
    SOUTHEAST FIRST NATIONAL BANK $1,855,000 n/a 3.4%
    LEADERONE FINANCIAL CORPORATION $525,000 $1,620,000 208.6% 3.0%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $660,000 $1,495,000 126.5% 2.7%
    TENNESSEE VALLEY $460,000 $1,420,000 208.7% 2.6%
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. $1,720,000 $1,185,000 -31.1% 2.2%
    Mortgage Research Center, LLC $970,000 $1,150,000 18.6% 2.1%
    VANDERBILT MORTGAGE AND FINANCE, INC. $1,530,000 $1,150,000 -24.8% 2.1%
    Flagstar Bank, FSB $555,000 $1,135,000 104.5% 2.1%
    The Citizens Bank of Georgia $1,055,000 n/a 1.9%
    Regions Bank $3,095,000 $1,010,000 -67.4% 1.8%
    EVERETT FINANCIAL, INC. $385,000 $995,000 158.4% 1.8%
    Renasant Bank $225,000 $990,000 340.0% 1.8%
    Cornerstone First Mortgage, Inc $960,000 n/a 1.8%
    UNION HOME MORTGAGE CORP. $935,000 n/a 1.7%
    CROSSCOUNTRY MORTGAGE, LLC $480,000 $910,000 89.6% 1.7%
    River City Bank $900,000 n/a 1.6%
    Truist $1,075,000 $900,000 -16.3% 1.6%
    MOVEMENT MORTGAGE, LLC $1,070,000 $880,000 -17.8% 1.6%
    SUMMIT FUNDING, INC. $870,000 $795,000 -8.6% 1.5%
    HOMESTAR FINANCIAL CORPORATION $3,485,000 $765,000 -78.0% 1.4%
    AMERISAVE MORTGAGE CORPORATION $95,000 $750,000 689.5% 1.4%
    BANKSOUTH MORTGAGE COMPANY, LLC $215,000 $750,000 248.8% 1.4%
    SWBC MORTGAGE CORPORATION $115,000 $715,000 521.7% 1.3%
    UNITED WHOLESALE MORTGAGE, LLC $3,110,000 $655,000 -78.9% 1.2%
    PENNYMAC LOAN SERVICES, LLC $705,000 $565,000 -19.9% 1.0%
    CRESCENT MORTGAGE COMPANY $515,000 n/a 0.9%
    SPRING EQ, LLC $505,000 n/a 0.9%
    Carrington Mortgage Services, LLC $385,000 $475,000 23.4% 0.9%
    21ST MORTGAGE CORPORATION $390,000 $470,000 20.5% 0.9%
    GEORGIA'S OWN $430,000 n/a 0.8%
    Paramount Residential Mortgage Group, Inc. $395,000 n/a 0.7%
    Mr. Cooper ( Nationstar Mortgage ) $565,000 $375,000 -33.6% 0.7%
    THE MORTGAGE FIRM, INC. $365,000 n/a 0.7%
    ITHINK FINANCIAL Credit Union $355,000 n/a 0.6%
    Pinnacle Bank $355,000 n/a 0.6%
    Synovus Bank $355,000 n/a 0.6%
    STOCKTON MORTGAGE CORPORATION $365,000 $310,000 -15.1% 0.6%
    NBKC BANK $305,000 n/a 0.6%
    TOWNE MORTGAGE COMPANY $305,000 n/a 0.6%
    FIRST COMMUNITY MORTGAGE, INC. $155,000 $300,000 93.5% 0.5%
    FINANCE OF AMERICA REVERSE LLC $270,000 n/a 0.5%
    First Option Mortgage, LLC $270,000 n/a 0.5%
    TRIAD FINANCIAL SERVICES, INC. $660,000 $270,000 -59.1% 0.5%
    1ST SIGNATURE LENDING, LLC $265,000 n/a 0.5%
    DELTA COMMUNITY CREDIT UNION $45,000 $255,000 466.7% 0.5%
    Goldwater Bank, N.A. $165,000 $255,000 54.5% 0.5%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $500,000 $225,000 -55.0% 0.4%
    NAVY FEDERAL CREDIT UNION $845,000 $215,000 -74.6% 0.4%
    MEMBER FIRST MORTGAGE, LLC $210,000 n/a 0.4%
    CARDINAL FINANCIAL $585,000 $205,000 -65.0% 0.4%
    Mortgage Assurance Inc. $145,000 $205,000 41.4% 0.4%
    DAS Acquisition Company, LLC $225,000 $195,000 -13.3% 0.4%
    FAMILY SAVINGS $125,000 $195,000 56.0% 0.4%
    Bank of England $175,000 n/a 0.3%
    MORTGAGE INVESTORS GROUP, INC. $540,000 $175,000 -67.6% 0.3%
    TJC Mortgage, Inc. $220,000 $175,000 -20.5% 0.3%
    BROKER SOLUTIONS, INC. $330,000 $165,000 -50.0% 0.3%
    LOANDEPOT.COM, LLC $895,000 $165,000 -81.6% 0.3%
    NEW DAY FINANCIAL, LLC $640,000 $165,000 -74.2% 0.3%
    Century Mortgage Company DBA Century Lending Company $155,000 n/a 0.3%
    LIBERTY HOME MORTGAGE CORPORATION $155,000 n/a 0.3%
    Magnolia Bank $155,000 n/a 0.3%
    PLANET HOME LENDING, LLC $135,000 $155,000 14.8% 0.3%
    CANOPY MORTGAGE, LLC $625,000 $145,000 -76.8% 0.3%
    PEACH STATE FEDERAL CREDIT UNION $1,175,000 $145,000 -87.7% 0.3%
    Discover Bank $140,000 n/a 0.3%
    AMERICAN FINANCIAL NETWORK, INC. $135,000 n/a 0.2%
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. $135,000 n/a 0.2%
    SOUTHWEST STAGE FUNDING, LLC $135,000 n/a 0.2%
    GUARANTEED RATE, INC. $205,000 $125,000 -39.0% 0.2%
    MUTUAL OF OMAHA MORTGAGE, INC. $125,000 n/a 0.2%
    SUCCESS MORTGAGE PARTNERS, INC. $495,000 $115,000 -76.8% 0.2%
    ACOPIA, LLC $475,000 $105,000 -77.9% 0.2%
    MID AMERICA MORTGAGE, INC. $105,000 n/a 0.2%
    BancorpSouth $95,000 n/a 0.2%
    SOUTHEAST MORTGAGE OF GEORGIA, INC. $185,000 $95,000 -48.6% 0.2%
    TOGETHER CREDIT UNION $85,000 n/a 0.2%
    Figure Lending LLC $110,000 $75,000 -31.8% 0.1%
    ATLANTA POSTAL $35,000 $65,000 85.7% 0.1%
    First Volunteer Bank $60,000 n/a 0.1%
    Citizens Bank $55,000 n/a 0.1%
    First National Community Bank $55,000 n/a 0.1%
    LGE COMMUNITY $55,000 n/a 0.1%

    Summerville's top lender by overall market share is United Community Bank, with 14.2% market share. In second place, with 6.1%, is QUICKEN LOANS, LLC, having originated $3,330,000 in loans. In third place, with 5.3%, is FirstBank, having originated $2,880,000 in loans. In fourth place, with 4.9%, is The Bank of LaFayette, Georgia, having originated $2,685,000 in loans. In fifth place, with 3.4%, is SOUTHEAST FIRST NATIONAL BANK, having originated $1,855,000 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 (-3.2%) 0.00 57
    2018-02-01 $106,000 (14.1%) $185,345 (-4.9%) 0.00 62
    2018-03-01 $100,000 (5.9%) $170,160 (-8.5%) 0.00 65
    2018-04-01 $97,500 (-2.5%) $159,013 (-15.4%) 0.00 73
    2018-05-01 $99,450 (4.7%) $149,054 (-16.1%) 0.00 71
    2018-06-01 $129,900 (38.3%) $172,947 (-1.4%) 0.00 70
    2018-07-01 $128,225 (29.6%) $173,000 (2.3%) 0.00 77
    2018-08-01 $128,325 (38.1%) $181,549 (9.1%) 0.00 74
    2018-09-01 $128,700 (22.7%) $195,487 (2.4%) 0.00 63
    2018-10-01 $117,425 (-7.9%) $176,939 (-10.9%) 0.00 69
    2018-11-01 $128,175 (0.4%) $206,288 (2.3%) 0.00 70
    2018-12-01 $130,000 (4.1%) $240,489 (22.8%) 0.00 65
    2019-01-01 $146,250 (46.4%) $238,597 (28.4%) 0.00 60
    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 (42.0%) 0.00 73
    2019-11-01 $125,000 (-2.5%) $231,604 (12.3%) 0.00 70
    2019-12-01 $122,200 (-6.0%) $200,100 (-16.8%) 0.00 68
    2020-01-01 $120,575 (-17.6%) $198,959 (-16.6%) 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
    2023-03-01 $249,900 (33.6%) $385,035 (7.6%) 0.00 38
    2023-04-01 $232,400 (-1.1%) $326,150 (1.1%) 0.00 45
    2023-05-01 $205,950 (-8.9%) $312,183 (-8.1%) 0.00 52
    2023-06-01 $228,450 (-8.3%) $352,641 (0.9%) 0.00 60
    2023-07-01 $249,000 (-0.2%) $353,120 (-2.5%) 0.00 54
    2023-08-01 $268,425 (-4.0%) $366,668 (-14.4%) 0.00 48
    2023-09-01 $299,000 (20.1%) $436,281 (22.3%) 0.00 42
    2023-10-01 $269,000 (17.0%) $406,708 (15.5%) 0.00 43
    2023-11-01 $247,175 (10.0%) $396,110 (21.3%) 0.00 50
    2023-12-01 $225,000 (-4.1%) $367,772 (5.3%) 0.00 51
    2024-01-01 $260,850 (15.3%) $421,195 (27.3%) 0.00 49
    2024-02-01 $293,450 (17.4%) $435,101 (19.9%) 0.00 51
    2024-03-01 $264,900 (6.0%) $408,867 (6.2%) 0.00 53
    Summerville's median listing price for 2024-03-01 was $264,900, a difference of $15,000 (6.0%) versus the prior year and $-28,550 versus the prior month.

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

    Summerville's average listing price for 2024-03-01 was $408,867, a difference of $23,832 (6.2%) versus the prior year and $-26,234 versus the prior month.

    For the 2024-03-01 period, Summerville had 53 MLS listings, a difference of 2 listings (4%) versus the prior month and 15 listings (39%) 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 1,548 sqft
    2018-02-01 0 days 1,605 sqft
    2018-03-01 0 days 1,726 sqft
    2018-04-01 0 days 1,671 sqft
    2018-05-01 0 days 1,616 sqft
    2018-06-01 0 days 1,595 sqft
    2018-07-01 0 days 1,512 sqft
    2018-08-01 0 days 1,586 sqft
    2018-09-01 0 days 1,608 sqft
    2018-10-01 0 days 1,562 sqft
    2018-11-01 0 days 1,610 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 1,788 sqft
    2019-06-01 0 days 1,824 sqft
    2019-07-01 0 days 1,809 sqft
    2019-08-01 0 days 1,762 sqft
    2019-09-01 0 days 1,679 sqft
    2019-10-01 0 days 1,527 sqft
    2019-11-01 0 days 1,371 sqft
    2019-12-01 0 days 1,372 sqft
    2020-01-01 0 days 1,458 sqft
    2020-02-01 0 days 1,568 sqft
    2020-03-01 0 days 1,396 sqft
    2020-04-01 0 days 1,378 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 1,675 sqft
    2020-09-01 0 days 1,612 sqft
    2020-10-01 0 days 1,514 sqft
    2020-11-01 0 days 1,262 sqft
    2020-12-01 0 days 1,341 sqft
    2021-01-01 0 days 1,299 sqft
    2021-02-01 0 days 1,502 sqft
    2021-03-01 0 days 1,538 sqft
    2021-04-01 0 days 1,874 sqft
    2021-05-01 0 days 1,800 sqft
    2021-06-01 0 days 1,593 sqft
    2021-07-01 0 days 1,698 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 2,349 sqft
    2022-01-01 0 days 1,979 sqft
    2022-02-01 0 days 1,638 sqft
    2022-03-01 0 days 1,625 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
    2023-03-01 0 days 1,753 sqft
    2023-04-01 0 days 1,568 sqft
    2023-05-01 0 days 1,563 sqft
    2023-06-01 0 days 1,608 sqft
    2023-07-01 0 days 1,545 sqft
    2023-08-01 0 days 1,570 sqft
    2023-09-01 0 days 1,800 sqft
    2023-10-01 0 days 1,891 sqft
    2023-11-01 0 days 1,565 sqft
    2023-12-01 0 days 1,515 sqft
    2024-01-01 0 days 1,820 sqft
    2024-02-01 0 days 1,937 sqft
    2024-03-01 0 days 1,878 sqft
    Summerville's median listing age (time on market) for 2024-03-01 was 0 days.

    Summerville's median square footage for active listings during the 2024-03-01 period was 1,878 sqft. One year prior, the average listing was 1,753 sqft.

    Summerville, GA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 191 $36,225,000 $189,660
    Refi 51 $5,725,000 $112,255
    Other 47 $4,695,000 $99,894
    Cash Out Refi 44 $6,460,000 $146,818
    Home Improvement 36 $1,690,000 $46,944

    Summerville's most frequently cited loan purpose was Home Purchase, with 191 originations. The 2nd most popular reason was Refi, with 51 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 135 $22,505,000 $166,704
    7-8% 100 $13,830,000 $138,300
    Over 8% 58 $6,560,000 $113,103
    5-6% 27 $4,885,000 $180,926
    <2.5% 4 $50,000 $12,500
    4-5% 2 $340,000 $170,000

    During 2023, Summerville's most frequently originated rate bucket was 6-7%, with 135 originations.

    Loan Sizing (Summerville, GA MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 151 $8,005,000 $53,013
    $100k-200k 138 $20,640,000 $149,565
    $200k-400k 65 $16,755,000 $257,769
    $400k-600k 9 $4,345,000 $482,778
    $600k-1000k 4 $2,940,000 $735,000
    $Over $1MM 2 $2,110,000 $1,055,000

    Summerville's loan sizing saw the bucket of loans from $100,000 or less with 151 originations, totaling $8,005,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 141 $27,995,000 $198,546
    60-80% 54 $8,280,000 $153,333
    20-40% 50 $3,810,000 $76,200
    Under 20% 47 $1,695,000 $36,064
    40-60% 28 $4,770,000 $170,357
    Over 100% 5 $1,125,000 $225,000

    Summerville's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 141 originations, totaling $27,995,000 in origination value.