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Category: Homebuyer strategies (46 Articles)

Jul 10, 2025 | 3 min. read

Co-Signing and Co-Borrowing: What You Need to Know

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

Jun 26, 2025 | 4 min. read

Cash out refinancing – is it right for you?

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

Jun 24, 2025 | 5 min. read

What Credit Score Do I Need to Buy a House?

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

Jun 12, 2025 | 2 min. read

Rent-back agreement and how they impact the buyers and sellers

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

Apr 23, 2025 | 3 min. read

What are Fannie Mae and Freddie Mac?

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

Mar 25, 2025 | 3 min. read

FHA Vs Conventional: What Homebuyers Need to know

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

Feb 19, 2025 | 5 min. read

Living With Renters: What You Need to Know Before Sharing your Home

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

Feb 5, 2025 | 3 min. read

The Rising Trend of Multigenerational Living: A Cultural and Economic Shift

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

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