# Summit Mortgage Corporation

> **Canonical URL:** https://saferate.com/lenders/summit-mortgage-mn


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Summit Mortgage Corporation is a independent mortgage company, headquartered in Plymouth, MN, serving borrowers across 23 states, with 1,332 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 71% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 36% for loan approval success

## Overview

- **Institution Type:** Independent Mortgage Company
- **LEI (Legal Entity Identifier):** 5493001YIUWLFRXQUO81
- **Headquarters:** Plymouth, MN
- **Geographic Reach:** Multi-Region
- **States Served:** 23
- **State List:** AZ, CA, CO, FL, GA, IA, ID, IL, LA, MI, MN, MT, NC, NJ, OR, PA, SC, SD, TX, UT, VA, WA, WI
- **Markets (MSAs):** 14
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Acceptable 🙂
- Score: 29/100
- Rating: ●●○○○ (2/5)

### Pull Through: Strong 😀
- Score: 64/100
- Rating: ●●●●○ (4/5)

### Pricing Details
- **Average Rate Spread:** +0.385%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $3,175
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 1,332
- **Dollar Volume:** $407 million
- **Applications Received:** 1,789
- **Market Share:** 4.00%

## Typical Borrower Profile

- **Average Loan Amount:** $305,916
- **Average Borrower Income:** $131,032
- **Average Property Value:** $390,398

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 72/100 | 998 | +0.377% | $3,158 | Strong 😀 |
| FHA | 71/100 | 212 | +0.720% | $3,704 | Strong 😀 |
| VA | 67/100 | 70 | -0.302% | $2,408 | Strong 😀 |
| Jumbo | 41/100 | 11 | +0.329% | $2,759 | Sound ☺️ |
| USDA | 80/100 | 41 | +0.246% | $2,382 | Strong 😀 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 931 loans, Score: 72/100 (Strong)
- Refinance: 67 loans, Score: 51/100 (Sound)

**FHA:**
- Purchase: 194 loans, Score: 70/100 (Strong)

**VA:**
- Purchase: 63 loans, Score: 67/100 (Strong)

**USDA:**
- Purchase: 41 loans, Score: 80/100 (Strong)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 74/100 | 1,239 | $380M | +0.385% | Strong 😀 |
| Refinance | 53/100 | 93 | $28M | +0.388% | Sound ☺️ |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| MN | 639 | 0.99% | 84/100 |
| PA | 208 | 0.17% | 70/100 |
| FL | 154 | 0.05% | 61/100 |
| CO | 114 | 0.14% | 63/100 |
| NC | 45 | 0.03% | 50/100 |
| WI | 41 | 0.06% | 53/100 |
| LA | 25 | 0.07% | 48/100 |
| ID | 23 | 0.09% | 47/100 |
| CA | 19 | 0.01% | 40/100 |
| OR | 17 | 0.04% | 44/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Minneapolis | MN-WI | 468 | 82/100 |
| Non |  | 277 | 66/100 |
| Duluth, MN | MN-WI | 88 | 72/100 |
| Denver | CO | 66 | 60/100 |
| Naples | FL | 65 | 79/100 |
| Cape Coral | FL | 41 | 59/100 |
| Colorado Springs, CO | CO | 40 | 58/100 |
| Montgomery County | PA | 38 | 58/100 |
| Jacksonville, FL | FL | 24 | 50/100 |
| Scranton | PA | 23 | 53/100 |
| Boise City, ID | ID | 21 | 48/100 |
| Charlotte | NC-SC | 18 | 45/100 |
| Greensboro | NC | 11 | 42/100 |
| Lafayette, LA | LA | 10 | 41/100 |

## Where This Lender Ranks

Summit Mortgage Corporation appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🏆 **#7** in Minnesota for USDA Loans (Mortgage Companies)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/mortgage-companies/usda-loans)
- 🏆 **#7** in Duluth, MN Mortgage Companies
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/mortgage-companies)
- 🏆 **#9** in Duluth, MN for FHA Loans (Mortgage Companies)
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/mortgage-companies/fha-loans)
- 🏆 **#11** in Duluth, MN for Conventional Loans (Mortgage Companies)
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/mortgage-companies/conventional-loans)
- 🏆 **#11** in Naples Mortgage Companies
  - [View Full Rankings](https://saferate.com/naples/best-mortgage-lenders/mortgage-companies)
- 🏆 **#12** in Duluth, MN for FHA Loans
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/fha-loans)
- 🏆 **#12** in Naples for Conventional Loans (Mortgage Companies)
  - [View Full Rankings](https://saferate.com/naples/best-mortgage-lenders/mortgage-companies/conventional-loans)
- 🏆 **#13** in Minnesota for Jumbo Loans (Mortgage Companies)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/mortgage-companies/jumbo-loans)
- 🏆 **#13** in Duluth, MN
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders)
- 🏆 **#14** in Minnesota for USDA Loans
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/usda-loans)
- 🏆 **#15** in Minneapolis Mortgage Companies
  - [View Full Rankings](https://saferate.com/minneapolis/best-mortgage-lenders/mortgage-companies)
- 🏆 **#16** in Minneapolis for Conventional Loans (Mortgage Companies)
  - [View Full Rankings](https://saferate.com/minneapolis/best-mortgage-lenders/mortgage-companies/conventional-loans)
- 🏆 **#17** in Minnesota Mortgage Companies
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/mortgage-companies)
- 🏆 **#19** in Minnesota for Conventional Loans (Mortgage Companies)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/mortgage-companies/conventional-loans)
- 🏆 **#19** in Minneapolis for FHA Loans (Mortgage Companies)
  - [View Full Rankings](https://saferate.com/minneapolis/best-mortgage-lenders/mortgage-companies/fha-loans)
- 🏆 **#19** in Duluth, MN for Conventional Loans
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/conventional-loans)

## Frequently Asked Questions

### What loan types does Summit Mortgage Corporation offer?

Summit Mortgage Corporation offers the following mortgage loan types: FHA, Conventional, VA, Jumbo, USDA. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Summit Mortgage Corporation offer mortgages?

Summit Mortgage Corporation offers mortgages in 23 states: AZ, CA, CO, FL, GA, IA, ID, IL, LA, MI, MN, MT, NC, NJ, OR, PA, SC, SD, TX, UT, VA, WA, WI.

### How competitive are Summit Mortgage Corporation's mortgage rates?

Summit Mortgage Corporation has a pricing score of 29/100 (Acceptable), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.385% above market average.

### What type of lender is Summit Mortgage Corporation?

Summit Mortgage Corporation is a non-depository lender that specializes in mortgage origination, headquartered in Plymouth, MN.

### What is Summit Mortgage Corporation's loan approval success rate?

Summit Mortgage Corporation has a pull-through score of 64/100 (Strong). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/summit-mortgage-mn

### How to Cite

> "Summit Mortgage Corporation Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/summit-mortgage-mn

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