Getting to know ESCROW
If you’re a current homeowner or in the process of buying a home, you’ve probably heard the word “escrow”. It’s one of those mortgage terms that gets used often but isn’t always clearly explained. So, let’s break it down. More
PMI: The Not-So-Secret Cost of Putting Less Down
Saving for a down payment is one of the biggest hurdles to buying a home. For many buyers (especially first-time buyers), coming up with 20% upfront just isn’t realistic. The good news? You don’t always need to put that much down to buy a home. The catch? You may ... More
Getting The Lay of The Land Trusts
If you’ve been keeping an eye on the housing market, you’ve probably noticed one thing: buying a home feels harder than it used to. Rising prices, limited inventory, and growing competition have pushed homeownership out of reach for many would-be buyers. That’s where community land trusts come ... More
Preparing For a Home Sale or Purchase in Winter
Winter may not be the first season that comes to mind when you think about buying or selling a home, but for many homeowners and buyers, it can be one of the smartest times to make a move. At Summit Mortgage, we work with clients year-round and see firsthand ... More
Summit Perspectives: USDA/ Rural Development Loans
When most people hear the term “rural home loan”, they picture remote farmland or a life far from modern conveniences. In reality, USDA / Rural Development loans are one of the most powerful (and often misunderstood) home financing options available today. At Summit Mortgage, we believe great home financing decisions ... More
Why Assumable Loans Are Making Headlines – And What They Mean For You
In a housing market defined by higher interest rates, lower inventory, and fierce competition, a once-overlooked mortgage feature is suddenly in the spotlight: assumable loans. If you‘ve heard the term trending in real estate circles or seen headlines about buyers chasing “unicorn” mortgage rates, you’re not imagining ... More
Longer Terms, Lower Payments? Understanding the 50-Year Mortgage Debate
As home prices continue to rise and affordability becomes one of the biggest hurdles for buyers, a new idea has re-entered the national conversation: the 50-year mortgage. Supports argue that longer terms could ease monthly payments and help more Americans achieve homeownership. Critics warn it could make housing even more ... More
Pros And Cons of Buying and Selling in the fall and winter
As the leaves change color and Fall begins to set in, the air isn’t the only thing that begins to cool. The real estate market also experiences this seasonal shift. While spring and summer are traditionally considered the “busy season” for home buying and selling, there are actually plenty ... More
