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Use This Checklist To See If You Have A Strong Pre-Qualification

Getting a mortgage can feel like a daunting task. You may not know where to start, who to talk with or if it is possible at all. The first step of the mortgage process is getting pre-qualified. When getting pre-qualified by a lender, you will sit down and evaluate your current financial situation. You will […]

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Top 3 Homebuying Fears

As home prices increase, mortgage rates fluctuate, and competition between buyers remains fierce, many first-time homebuyers have become skittish to even consider homeownership.  Even when prices, rates, and competition have favored buyers, many still have reservations. Standard concerns, such as fear of revealing your credit score, scared the process will be too complicated, or anxiety […]

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What is PMI and How Can I Avoid It?

The mortgage process can feel like a whirlwind of confusing new terms, costs for items you haven’t heard of before and daily documentation requests from your lender. One of the terms that may come up during your lending process is PMI (private mortgage insurance) or MI (mortgage insurance).  This is important to learn as it can […]

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Is Now the Right Time to Refinance?

As we approach the holiday season and the end-of-the-year chaos, the idea of how much you will be spending and how much you need to be saving is probably in the back of your mind. Holiday spending can be a huge financial weight, especially with the season’s added stress and a large pile of bills […]

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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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