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What You Can Expect At Your Closing

It can be a whirlwind 30 days from the moment the sellers accepted your offer and signed the sales contract to the final settlement. Once the contract is executed by both parties, it all begins. You’ve already provided your lender with your paperwork needed to get your preapproval letter, so now it’s time for various […]

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5 Questions to Ask If You’re Thinking of Buying Your First Home

There’s no doubt buying your first home can be a little intimidating. It’s certainly a big commitment and even though you’ve read rent vs. buy articles convincing you buying is better, it’s still no small decision. And that’s okay! All homeowners can remember when they bought their very first home. Suddenly there were new terms bandied […]

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Demystifying How Rate Locks Work

Rate locks can freeze an interest rate on a mortgage for a specified period of time, typically for 30, 45 or 60 days (but can vary), and can strategically be used to benefit the home buyer.  But how exactly do they work? Let us help demystify just how rate locks work. When you first get […]

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Introducing our Smooth Start Program!

Purchasing a new home can be a big step for many home buyers. Relieve some of your stress and ease into owning a home with Summit Funding’s Smooth Start Program! Through an agreement with your home’s seller, you can temporarily reduce your interest rate for first 2 or 3 years of your loan term. Program […]

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Yes, You Can Be Your Dog’s Hero!

  How many of you love dogs as much as we do here at Summit Funding? Have you ever caught yourself thinking or talking about how much more you love dogs than humans? I know I am personally guilty of the latter. There’s nothing quite like the love of a dog! They love you unconditionally, […]

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Changes to the Summit Jumbo Program

Some exciting changes have happened with the Summit Jumbo Program for home buyers! (effective with loans locked on or after 09/15/17) The Summit Jumbo Program is now available as an 80% LTV and 95% LTV Important Highlights: Up to $1M loan amount Maximum 38% DTI on LTVs over 90% Loan amounts increased on 95% LTVs […]

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Major Changes for Home Buyers from Fannie Mae

Some exciting changes have happened from Fannie Mae for home buyers! At the end of July, they put in place some major underwriting changes for loans submitted to Fannie Mae’s Desktop Underwriter (DU) system. These changes are making it easier for those looking to buy a home qualify for a loan. Important Highlights: The maximum […]

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Hey Home Buyer, Don’t Let This Major Misconception Hold You Back!

Did you know, you don’t need a 20% down payment to buy a home in today’s market? If you didn’t, you’re not alone. According to a recent survey by Genworth, 28% of participants, mortgage industry professionals, said that “consumers still mistakenly believe that a 20 percent down payment is a requirement for purchasing a home.” […]

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Student Loan Cash-Out Refi Program Now Offered by Summit Funding!

Summit Funding is excited to announce we now offer the Student Loan Cash-Out Refinance program from Fannie Mae! This innovative program is a cost-effective alternative to use home equity to pay off student loan debt. This program is a huge advantage not only to homeowners who have their own student loan debt, but also to […]

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5 Simple Steps to Buy Your First Home

It’s an exciting moment when you make the decision to stop renting and start making moves toward buying your first home. As thrilling as the decision can be, many newbies get hung up by how unfamiliar and overwhelming the home buying process can seem. So what can you do to prepare? Here are a few […]

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