FIND YOUR FIT
Selecting the right loan program is no easy task, but Summit is known for offering MORE.
With MORE loan programs, MORE lending flexibility, and MORE Loan Officer experience, we get it done and ensure that youre ready to conquer the journey to homeownership.
CONVENTIONAL
HAVE A STRONG DOWN PAYMENT?
Looking to purchase with a large down payment, a vacation home, or an investment property - this may be the right loan for you!
MIMIMUM FICO SCORE
620 min FICO or 640 with MI
*Contact your MI company for details
DOWN PAYMENT
3% minimum
OCCUPANCY
Primary residence, 2nd home, & investment properties
No mortgage insurance with 20% down
100% gift funds allowed
Up to 9% seller contribution
FHA
DON’T HAVE CASH FOR A LARGE DOWN PAYMENT?
FHA loans have flexible qualifications and only requires a small down payment.
MINIMUM FICO SCORE
580-620 with DTI limits
580 high balance with limits
DOWN PAYMENT
3.5% min borrower
OCCUPANCY
Primary residence
UPMIP financed
Monthly mortgage insurance required
100% gift funds allowed
Up to 6% seller contribution
VA
YOU'VE SERVED US, NOW LET US SERVE YOU!
VA loans offer low upfront costs and monthly mortgage payments for Service Members, Veterans, and eligible surviving spouses.
MINIMUM FICO SCORE
620 with DTI Limits
640 high balance with limits
DOWN PAYMENT
No down payment required
OCCUPANCY
Primary residence
Upfront funding fee financed
No monthly mortgage insurance required
100% gift funds allowed
Up to 4% seller contribution
USDA
LOOKING TO GET AWAY FROM THE CITY LIFE?
USDA requires 0% down payment and the possibility of financing your closing costs. Great for borrowers looking to become a homeowner in qualifying rural areas.
MINIMUM FICO SCORE
620 with manual UW
640 standard guides
DOWN PAYMENT
No down payment required
OCCUPANCY
Primary residence
Annual fee required
Up to 6% seller contribution
Up to 6% seller contribution
JUMBO
LOOKING FOR A HOME ABOVE $484,350?
We offer a variety of jumbo products that will help you purchase homes with a larger loan amount..
MINIMUM FICO SCORE
680
DOWN PAYMENT
5% minimum borrower
OCCUPANCY
Primary residence, 2nd home, & investment properties
Loans from $453,100 to $2,500,000
No mortgage insurance
First time homebuyers eligible
REVERSE MORTGAGE
OVER 62 AND LOOKING FOR EXTRA CASH IN YOUR POCKET?
Convert a portion of your home equity into tax-free money.
DEBT CONSOLIDATION
HOME IMPROVEMENT
WEALTH MANAGEMENT
FORECLOSURE AVOIDANCE
*This communication is for informational purposes only, this is not a commitment to lend. Individual buyer's financial circumstances may be different and may result in different interest rates, costs, and payments. All programs are subject to change or cancelation at any time and without notice. Please consult your licensed Loan Originator to learn more about mortgage products, your eligibility, and ask for an official Loan Estimate before choosing your loan.