Purchase Originations
3,790
Ranked #133 nationally
Median Total Costs
$10,925
+63.5% vs national ($6,680)
↑ $726 vs prior year
Median Rate
6.625%
+2.1% vs national (6.490%)
↓ 0.125% vs prior year
Median Origination
$5,156
Median Lender Credits
$750
Cost Rank (500+ vol.)
#564
among lenders with 500+ originations
Denial Rate
4.1%
vs national avg (9.0%)
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 2,135 | 6.875% | $8,658 | $5,090 |
| fha | 1,296 | 6.500% | $14,397 | $5,165 |
| va | 345 | 6.375% | $11,597 | $5,690 |
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Oregon | 639 | 6.625% | $12,969 | #13 |
| California | 542 | 6.625% | $12,922 | #71 |
| Texas | 303 | 6.500% | $11,568 | #154 |
| Tennessee | 275 | 6.625% | $9,903 | #60 |
| Georgia | 260 | 6.625% | $11,001 | #83 |
| Missouri | 200 | 6.875% | $4,266 | #57 |
| Illinois | 192 | 6.990% | $7,445 | #102 |
| Washington | 182 | 6.781% | $12,664 | #67 |
| Nevada | 165 | 6.500% | $13,025 | #45 |
| Florida | 152 | 6.750% | $10,616 | #189 |
| Idaho | 145 | 6.250% | $13,407 | #37 |
| Kansas | 137 | 6.875% | $3,852 | #51 |
| Colorado | 112 | 6.750% | $10,650 | #101 |
| Arizona | 110 | 6.750% | $10,308 | #96 |
| Virginia | 107 | 6.375% | $11,809 | #123 |
| North Carolina | 63 | 6.625% | $8,182 | #183 |
| Louisiana | 42 | 6.670% | $9,495 | — |
| Pennsylvania | 28 | 6.875% | $8,834 | — |
| New Mexico | 27 | 6.875% | $7,573 | — |
| South Carolina | 17 | 6.625% | $8,054 | — |
| Massachusetts | 16 | 7.062% | $10,902 | — |
| Hawaii | 11 | 7.500% | $12,412 | — |
| Alabama | 9 | 6.500% | $7,601 | — |
| Maryland | 7 | 6.375% | $15,267 | — |
| Michigan | 7 | 6.990% | $5,489 | — |
| Rhode Island | 7 | 6.750% | $11,548 | — |
| Wisconsin | 6 | 6.933% | $5,358 | — |
| Delaware | 5 | 6.500% | $14,944 | — |
| Indiana | 5 | 7.250% | $5,642 | — |
| Oklahoma | 4 | 6.562% | $12,358 | — |
| New Jersey | 3 | 6.990% | $11,083 | — |
| Wyoming | 3 | 6.500% | $22,138 | — |
| Connecticut | 2 | 7.312% | $9,821 | — |
| Minnesota | 2 | 6.812% | $6,306 | — |
| Arkansas | 1 | 6.500% | $21,818 | — |
| Mississippi | 1 | 6.750% | $6,816 | — |
| Montana | 1 | 6.625% | $6,204 | — |
| Ohio | 1 | 7.625% | $3,406 | — |
| Utah | 1 | 6.500% | $10,237 | — |
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $3,642 | 6.875% | — | 111 | −$7,283 | |
| 2 | $4,111 | 6.875% | — | 123 | −$6,814 | |
| 3 | $7,352 | 6.990% | — | 140 | −$3,573 | |
| 4 | $9,684 | 6.875% | — | 49 | −$1,241 | |
| 5 | $10,114 | 6.375% | — | 41 | −$811 | |
| 6 | $10,235 | 6.812% | — | 116 | −$690 | |
| 7 | $10,661 | 6.875% | — | 44 | −$264 | |
| 8 | $10,974 | 7.000% | — | 49 | +$49 | |
| 9 | $11,263 | 6.750% | — | 73 | +$338 | |
| 10 | $11,405 | 6.875% | — | 43 | +$480 | |
| 11 | $12,280 | 6.500% | — | 106 | +$1,355 | |
| 12 | $12,661 | 6.625% | — | 344 | +$1,736 | |
| 13 | $12,746 | 6.500% | — | 86 | +$1,821 | |
| 14 | $12,792 | 6.625% | — | 41 | +$1,867 | |
| 15 | $13,051 | 6.875% | — | 46 | +$2,126 | |
| 16 | $13,306 | 6.375% | — | 94 | +$2,381 | |
| 17 | $13,513 | 6.500% | — | 61 | +$2,588 | |
| 18 | $13,699 | 6.625% | — | 44 | +$2,774 | |
| 19 | $13,911 | 6.500% | — | 122 | +$2,986 | |
| 20 | $17,866 | 6.125% | — | 68 | +$6,941 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2025. Sorted by median total loan costs.
Peer set: the 50 highest-volume U.S. mortgage lenders in 2025 (min. 8,254 purchase originations).
| Metric | Summit Funding, Inc. | Top-50 peer median | Difference |
|---|---|---|---|
| Median loan amount | $345,000 | $335,000 | +$10,000 (+3.0%) |
| Median total closing costs | $10,925 | $7,127 | +$3,798 (+53.3%) |
Other high-volume lenders side-by-side.
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Data source: HMDA Modified Loan Application Register 2025, published by the Consumer Financial Protection Bureau (CFPB).
Statistics reflect originated first-lien purchase mortgages on owner-occupied principal residences. Medians exclude loans with exempt or unreported fee disclosures. Learn more at ffiec.cfpb.gov.