SUMMIT FUNDING, INC. closing costs and rates (2024)
In 2024, SUMMIT FUNDING, INC. originated 4,170 purchase mortgages at a median interest rate of 6.75% and median total closing costs of $10,199. That ranks #111 nationally by origination volume. For total closing costs among lenders with 500+ originations, SUMMIT FUNDING, INC. ranks #555. That is $3,458 above the national median of $6,741. SUMMIT FUNDING, INC. is most active in Oregon with 682 originations there.
Purchase Originations
4,170
Ranked #111 nationally
Median Total Costs
$10,199
+51.3% vs national ($6,741)
Median Rate
6.750%
+2.0% vs national (6.620%)
Median Origination
$5,063
Median Lender Credits
$624
Cost Rank (500+ vol.)
#555
among lenders with 500+ originations
Breakdown by loan type
| Loan type | Volume | Median Rate | Median Total Costs | Median Origination |
|---|---|---|---|---|
| conventional | 2,365 | 6.990% | $8,355 | $5,097 |
| fha | 1,368 | 6.625% | $14,103 | $5,366 |
| va | 404 | 6.438% | $9,281 | $2,906 |
| usda | 33 | 6.125% | $9,736 | $4,374 |
Active states
| State | Volume | Median Rate | Median Total Costs | State Rank |
|---|---|---|---|---|
| Oregon | 682 | 6.625% | $12,055 | #12 |
| California | 577 | 6.625% | $12,716 | #65 |
| Texas | 527 | 6.625% | $10,376 | #114 |
| Georgia | 338 | 6.875% | $9,559 | #72 |
| Missouri | 240 | 6.990% | $4,753 | #48 |
| North Carolina | 232 | 6.625% | $6,639 | #98 |
| Tennessee | 227 | 6.750% | $9,957 | #66 |
| Washington | 198 | 6.990% | $13,348 | #69 |
| Illinois | 157 | 7.000% | $7,783 | #117 |
| Florida | 150 | 6.625% | $10,945 | #199 |
| Nevada | 144 | 6.625% | $11,814 | #48 |
| Idaho | 133 | 6.625% | $12,507 | #37 |
| Kansas | 107 | 6.990% | $3,976 | #64 |
| Arizona | 106 | 6.990% | $10,289 | #92 |
| Virginia | 79 | 6.625% | $9,859 | #144 |
| Colorado | 68 | 6.875% | $8,840 | #123 |
| Louisiana | 61 | 6.500% | $9,105 | #71 |
| South Carolina | 29 | 6.625% | $9,130 | — |
| New Mexico | 20 | 6.990% | $7,579 | — |
| Ohio | 13 | 7.125% | $9,491 | — |
| Alabama | 11 | 6.750% | $6,283 | — |
| Massachusetts | 11 | 6.990% | $5,414 | — |
| Maryland | 11 | 6.990% | $11,471 | — |
| Hawaii | 9 | 6.990% | $22,191 | — |
| Rhode Island | 9 | 6.500% | $5,204 | — |
| Wyoming | 4 | 7.062% | $17,642 | — |
| Indiana | 3 | 6.750% | $4,545 | — |
| Minnesota | 3 | 6.750% | $18,224 | — |
| Oklahoma | 3 | 6.625% | $9,070 | — |
| Arkansas | 2 | 7.125% | $5,710 | — |
| Connecticut | 2 | 6.250% | $13,248 | — |
| Kentucky | 2 | 6.370% | $9,872 | — |
| Michigan | 2 | 6.625% | $6,197 | — |
| Mississippi | 2 | 6.875% | $5,729 | — |
| Pennsylvania | 2 | 7.438% | $8,275 | — |
| Utah | 2 | 7.188% | $13,917 | — |
| Wisconsin | 2 | 6.933% | $6,408 | — |
| Maine | 1 | 7.250% | $9,342 | — |
| West Virginia | 1 | 6.250% | $8,890 | — |
Top counties by origination volume
| Rank | Lender | Median Total Costs ↑ | Median Rate ↕ | Median Origination ↕ | Volume ↕ | vs. Median |
|---|---|---|---|---|---|---|
| 1 | $3,758 | 6.990% | — | 80 | −$6,441 | |
| 2 | $4,746 | 6.990% | — | 143 | −$5,453 | |
| 3 | $5,102 | 6.990% | — | 41 | −$5,097 | |
| 4 | $7,793 | 7.125% | — | 126 | −$2,406 | |
| 5 | $9,346 | 6.875% | — | 123 | −$853 | |
| 6 | $10,041 | 6.562% | — | 126 | −$158 | |
| 7 | $10,259 | 6.500% | — | 49 | +$60 | |
| 8 | $10,382 | 6.500% | — | 87 | +$183 | |
| 9 | $10,607 | 6.688% | — | 44 | +$408 | |
| 10 | $10,901 | 6.500% | — | 45 | +$702 | |
| 11 | $11,216 | 6.625% | — | 81 | +$1,017 | |
| 12 | $11,727 | 6.990% | — | 48 | +$1,528 | |
| 13 | $12,053 | 6.625% | — | 346 | +$1,854 | |
| 14 | $12,317 | 6.625% | — | 47 | +$2,118 | |
| 15 | $12,586 | 6.625% | — | 85 | +$2,387 | |
| 16 | $12,654 | 6.750% | — | 44 | +$2,455 | |
| 17 | $12,851 | 6.625% | — | 121 | +$2,652 | |
| 18 | $13,394 | 6.995% | — | 60 | +$3,195 | |
| 19 | $14,129 | 6.875% | — | 53 | +$3,930 | |
| 20 | $16,778 | 5.995% | — | 56 | +$6,579 |
Includes lenders with 1+ purchase originations in top counties. Source: HMDA 2024. Sorted by median total loan costs.
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Data source: HMDA Modified Loan Application Register 2024, 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.