Is bigger always better? For decades, that was the general sentiment when it came to buying a home. More square footage, more bedrooms, and more storage space were common goals for many buyers. Today, however, a growing percentage of homebuyers are intentionally choosing smaller homes and in ... More
A common question many homebuyers ask is, “What if I buy a home and then mortgage rates go down?” It’s a fair concern. Nobody wants to feel like they missed out on a better deal. The good news is that lower rates after closing don’t mean you’... More
If you’re self-employed, you already know the tradeoff: more freedom, but less predictability. This is especially true on paper, and when it comes to securing financing for a home purchase, lenders tend to focus heavily on consistency and documentation. That doesn’t mean buying a home is out ... More
When you think of buying a home, the first thing that comes to mind might be debt. After all, a mortgage is the largest financial obligation that most people will ever take on. The often overlooked part, however, is that buying a home doesn’t just add debt to your ... More
Many first-time homebuyers are already used to making a significant monthly rent payment. So, it’s not usually the monthly mortgage payment that stands as a barrier to homeownership. More often, it’s the significant amount of upfront cash needed to cover a down payment and the closing costs on ... More
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
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
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
