Our Suite of Lending Products

It’s important that homeowners understand the features of their home loan, and make sure it meets their financial needs. Summit Mortgage can help.

As a direct lender with the flexibility to also act as a broker, we provide choice, convenience, and control throughout the loan process. We offer a full suite of lending products because we recognize the importance of having the right loan for every situation. Here are some of the mortgage programs available with Summit:

We offer our borrowers a wide variety of fixed-rate mortgages from 30 years to 8 year so that you can get the payoff schedule that’s right for you. These loan programs have the same interest rate for the life of the loan and monthly payments (principal and interest) that never change.

If you escrow your property taxes and insurance, those expenses can change, which will affect your monthly payments. Fixed-rate mortgage may be a good choice if you plan to stay in your home for a long time or if you feel more comfortable knowing your payment cannot change.

An ARM is a mortgage in which the interest rate and payments are adjusted periodically based on a pre-selected index. Also known as 3/1, 5/1, 7/1, and 10/1 ARM programs, the rate and payments on an ARM loan rise and fall with the market and borrowers are protected by to certain limits.

Our 3/1, 5/1, 7/1, and 10/1 ARMs allow you to pay a lower introductory interest rate than many fixed-rate mortgages offer. Your interest rate and payment are fixed for the initial fixed rate period of 3, 5, 7, or 10 years, depending on the program you select. After the initial fixed period, your interest rate and payment will follow the movement of the index up and down, with certain limits.

We offer residential mortgage loans insured by the Federal Housing Administration (FHA). FHA-insured loans offer many benefits, including lower costs, smaller down payments, easier qualification, and more protection to keep your home.

Great for Fixer-Uppers, the FHA Renovation Loan Program provides you with the money to purchase a home and renovate it, all with one convenient loan. This program is ideal for purchasing foreclosures and improving their value with needed repairs and upgrades.

The VA loan program can make it much easier for veterans to secure a home loan by requiring little or no down payment. This home loan is available to veterans and guaranteed by the U. S. Veteran’s Administration, and it frequently offers lower interest rates than ordinarily available. In addition, with a VA-guaranteed loan, there is no private mortgage insurance requirement.

Government Sponsored Entities, Fannie Mae and Freddie Mac, new conforming-jumbo loan limits make it easier and more affordable for more buyers to “move up” and purchase higher-value homes, or save substantially by refinancing their jumbo loan. Lower FICO score and down payment requirements, lower-than-jumbo rates, and loans amounts of up to $729,750 in some areas create a powerful alternative to a traditional jumbo loan.

Many municipalities have established bond programs to help first-time homebuyers with down payment assistance, obtaining a lower rate, and qualifying more easily for a home loan.

As an experienced jumbo and super jumbo mortgage lender, we offer a variety of programs with competitive rates and beneficial features. Fixed rate, adjustable rate, and interest-only payment options are available. We also provide jumbo and super jumbo loans for investment properties and second homes, as well as cash-out refinancing.

For the more sophisticated borrower seeking total financial integration and leverage for wealth maximization, we offer Private Mortgage Lending. With direct access to private capital, we specialize in delivering personalized, advantageous solutions that can’t be found anywhere else. For bridge, swing, renovation, and liquidity solutions contact us for a confidential consultation.

Let’s Find the Right Loan Option for You