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
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
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
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
If you’re currently renting, the idea of homeownership and taking on the responsibility of a mortgage may seem overwhelming. While buying your first home is a major milestone that requires careful planning and ongoing attention, it isn’t a decision you have to make alone. 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
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
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
