Ground Figures
Lenders → Summit Funding.Inc

Summit Funding.Inc

Independent mortgage co. · #133 by purchase decisions in 2025 · Conventional 60% · FHA 32%. Above 50% DTI on fha files it approved 96% of 413.

FHA · above 50% DTI
96%

approved of 413 decisions. Across all bands and programs: 95% of 3,611.

Purchase decisions
3,940
Approved, all
95%
Lender type
Independent mortgage co.
States with 50+ decisions
16

Approval by DTI band

Each row is approved versus denied among files whose decision used that ratio. Read the 50–60% row against the ≤43% row: a gap is the signature of a wall at 50.

Conventional

DTI bandDecisionsApproved · deniedDenials citing DTI
≤43%1,468
97%
6%
44–45%234
98%
40%
46–49%608
97%
24%

FHA

DTI bandDecisionsApproved · deniedDenials citing DTI
≤43%452
97%
8%
44–45%135
98%
0%
46–49%245
97%
14%
50–60%413
96%
71%

Rates and costs

Compared with the national market in the same LTV band and points-paid cell; 30-year fixed conforming purchase loans. Builder-owned lenders buy rates down as a sales incentive, which is paid for in the house price.

Conventional rate vs market
+25 bps
Conventional median, no points
7%
FHA rate vs market
+25 bps
FHA median, no points
6.5%
VA rate vs market
+25 bps
VA median, no points
6.375%
Conventional median loan costs
$8,625
FHA median loan costs
$14,375
VA median loan costs
$11,875
Why it says no: first-listed denial reason, 2025 WHY IT SAYS NO: FIRST-LISTED DENIAL REASON, 2025 Debt-to-income ratio Debt-to-income ratio: 45% approved of 76 45% Collateral Collateral: 18% approved of 30 18% Other Other: 13% approved of 22 13% Unverifiable information Unverifiable information: 8% approved of 13 8% Credit history Credit history: 8% approved of 13 8% Insufficient cash Insufficient cash: 4% approved of 7 4% Approval by loan-to-value band, all programs APPROVAL BY LOAN-TO-VALUE BAND, ALL PROGRAMS LTV ≤80% LTV ≤80%: 95% approved of 1,177 95% LTV 80–95% LTV 80–95%: 95% approved of 1,134 95% LTV >95% LTV >95%: 96% approved of 1,602 96%

Where it lends

California (609), Oregon (587), Texas (304), Tennessee (268), Georgia (261), Missouri (233), Illinois (199), Idaho (192), Florida (171), Washington (170).

Compare Summit Funding.Inc with every lender in a state on the approvals, rates and fees pages.

Questions

Does Summit Funding.Inc approve loans with a DTI over 50%?

On fha purchase files in 2025, Summit Funding.Inc approved 96% of 413 applications with a DTI between 50 and 60 percent. The table on this page shows every band.

Are Summit Funding.Inc's rates competitive?

In 2025 its closed conventional loans were priced 25 basis points above the market median after matching LTV band and points paid.

Why does Summit Funding.Inc deny applications?

Its most common first-listed denial reason in 2025 was debt-to-income ratio (45% of denials), followed by collateral (18%).

Where does this come from?

Summit Funding.Inc's own 2025 HMDA filing, as published by the CFPB. Purchase loans on site-built, one-unit, owner-occupied homes. Decisions, not policy: files screened out before a formal application never appear. Credit score is withheld from the public file.

Method

Approvals from the approvals dataset (originated vs. denied by DTI band). Rates: HMDA interest rate on 30-year fixed conforming purchase originations, compared cell by cell with the national market. Costs: Closing Disclosure total loan costs, binned to $250. Denial reasons: first reason listed on denied files. Lender type assigned from the name.

Corrections

Every figure traces to Summit Funding.Inc’s own filing. If a number looks wrong, write to us and we will re-run it.