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
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
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
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
From Renter to Homeowner: Budget Impacts to Consider
Becoming a homeowner means more than just buying four walls and a roof to call your own. Transitioning from renting to owning a home represents an investment in your future and is one of the most exciting financial milestones in life. Before taking the leap, however, it’s important ... More
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
The Top 5 Reasons You Should Choose Summit Mortgage
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
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
