SEO

Get Ready to Finance Your Second Home

Since the risks and advantages of loan products vary for each borrower, it’s best to talk to a licensed loan professional to determine what’s best for you. After you settle into home ownership, it’s natural to start thinking about buying a second home. A house by the lake. A cabin in the mountains. A condo […]

LEARN MORE
SEO

How debt and income shape your home-buying budget

Unless you won the lottery and are going to pay in cash, it’s always good to talk to lender to find out what you can afford before you start shopping for a home. But there are steps you can take before then to prepare yourself, mentally and financially. In fact, it only takes a simple […]

LEARN MORE
SEO

What to Know Before Buying a House During the Pandemic

Buying a home remains an important aspect of the American Dream for many people. But how has the pandemic affected that dream? The COVID-19 pandemic indeed not only changed how we live and work, but also how we view and manage our finances. Is selling or purchasing a home during these challenging times a good […]

LEARN MORE
SEO

Pre-Qualified vs. Preapproved: What’s the Difference?

A very common question that we get asked as our clients get ready to buy a home, is what is the difference between pre-qualification and pre-approval? Are they the same? Is one better that the other? The truth is they sound very similar, and in fact they are similar in many ways. But the differences between […]

LEARN MORE
SEO

Simple ways to find when you’ll break even on points

When you’re considering a mortgage with lender credits or discount points, it helps to determine how long it will take to break even. Simply stated, you break even when the savings from one of these loan features even out with its cost. You can ask your lender to share this information with you. But it’s […]

LEARN MORE
SEO

Key things to know about closing costs

As if securing a down payment and qualifying for a mortgage isn’t difficult enough for first-time homebuyers, you also need to factor closing costs into your budget. These fees and taxes typically add 2%–6% to the cost of your purchase. And if you are not prepared, they can become the difference between moving in and […]

LEARN MORE
SEO

Your Guide To 2/1 Buydown Loans

During the home loan process, you may hear the term 2/1 buydown thrown around, but what exactly does this mean? This quick article will help you understand what a 2/1 buydown is and how you could benefit from one when purchasing your home.  What is the 2/1 Buy Down Loan? A 2/1 buydown loan is […]

LEARN MORE
SEO

ARM Loans & Who They Are Right For

ARM loans are something you may have heard a lot about right after the 2008 mortgage crisis. Although they have a bad reputation, they can be a smart mortgage strategy for the right borrower. ARM loans are known for their complex interest rate adjustments but have come a long way since 2008. Lending guidelines have […]

LEARN MORE
SEO

Buying Your Home Virtually With Summit Funding

We are living in one of the most stressful and rapidly changing times in history. While some of us are ready to go back to normal, many of us are worried about exposing ourselves to Coronavirus and prefer to stay at home. We have ensured we are ready to help you through the loan process […]

LEARN MORE
SEO

15 Year Vs. 30 Year Fixed-Rate Mortgages

When selecting the right loan product for your family, you will need to choose what type of loan you want. Depending on the product, you will often get a choice between a fixed-rate mortgage and an adjustable-rate mortgage. If you are looking for less risk, (which is most families), you will opt for a fixed-rate […]

LEARN MORE