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
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
When looking for a mortgage, we’re well aware you have a lot of options. However, if knowledgeable loan officers, exceptional customer service, and a flexible process are some of your top priorities, the list really narrows down. Summit Mortgage Corporation ... More
For many homeowners, the equity they’ve built up in their home can be used as a valuable financial asset. As property values increase and mortgage balances decrease, home equity grows as a valuable tool that can help unlock new opportunities. Whether you’re looking to renovate your home, consolidate ... More
Understanding the factors influencing property taxes and strategies to manage these costs is important knowledge for first-time homebuyers and seasoned homeowners alike. While the principal and interest portion of a fixed-rate mortgage payment doesn’t change from year to year, total mortgage payments can be impacted due to changing property ... More
After a volatile 2024, most experts and trusted forecasts from the Mortgage Bankers Association predict a more stable market in the new year. More
If you have aging parents, it’s likely you’ve had conversations about their current and future living conditions. Most aging parents hope to stay in their home for as long as possible. Doing so helps them retain a sense of independence. However, they will likely reach a stage when ... More
What comes to mind when you think of a “starter home”? Historically, the terms “Cheap,” “run-down,” and “bad investment” may have popped up. However, in recent years first-time buyers are turning the notion of a More
