Ever wondered why a cousin or parent might co-sign on your loan - or why someone might choose to co-borrow with you? Both roles can help you qualify for a mortgage, but they come with different rights, responsibilities, and relationship dynamics. At Summit Mortgage, we’re here to clarify it ... More
As a homeowner, your property isn't just a place to live—it's a valuable asset. One way to tap into this value is through a cash-out refinance. This financial tool can provide funds for various needs, but it's essential to understand how it works and whether it's the right choice ... More
What FICO Credit Scores Do Mortgage Lenders Use? Your credit score is a critical factor in determining if you can purchase a house, what programs you will qualify for, how much you’ll need to have saved for a down payment and what interest rate you’ll pay ... More
In the ever-evolving real estate landscape, flexibility is key for both buyers and sellers. One arrangement that offers this kind of flexibility is the rent-back agreement—a strategy that can benefit both home buyers and sellers when used wisely. Let’s break down what rent-back agreements are, when ... More
If you're exploring home financing options, you've likely come across the names Fannie Mae and Freddie Mac. But what exactly are these entities, and how do they impact the mortgage market? Understanding their role can help you navigate the home loan process with greater confidence. More
Buying a home is the largest investment most of us make in our lifetimes, and choosing the right mortgage is one of the most important decisions homebuyers face. Two of the most common options are FHA loans and More
It seems like everyone has a side hustle these days. With the cost of living through the roof and the price of just about everything seemingly on the rise, many of us are looking for ways to boost our earnings, reduce our living expenses, and make “adulting” just a little ... More
While we may not all jump for joy at the thought of living with our In-Laws, multigenerational living, where multiple generations of a family live together in one home, is experiencing a popularity boom in the United States. While this type of living arrangement has been common in other cultures ... More
