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 the loan.   It’s not uncommon for.. View Article

The post Stacking Strategies: Combining Down Payment Assistance + Seller Credits appeared first on Summit Mortgage.

As the snow continues to melt and the sunshine lasts through your evening commute, another natural cycle begins to shift – the Spring housing market.   Balancing affordability pressures, rising inventory, and renewed buyer interest, the Spring 2026 housing market is primed for launch after several years of elevated mortgage rates and lower sales activity... View Article

The post Summit Perspectives: Spring 2026 Housing Market Update appeared first on Summit Mortgage.

 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.

The post Getting to know ESCROW appeared first on Summit Mortgage.

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 be required to pay for something.. View Article

The post PMI: The Not-So-Secret Cost of Putting Less Down appeared first on Summit Mortgage.

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 in. Land trusts are legal entities (often nonprofit.. View Article

The post Getting The Lay of The Land Trusts appeared first on Summit Mortgage.

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 how winter transactions can offer.. View Article

The post Preparing For a Home Sale or Purchase in Winter appeared first on Summit Mortgage.

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 start with great information... View Article

The post Summit Perspectives: USDA/ Rural Development Loans appeared first on Summit Mortgage.

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 things. Assumable loans are having a moment,.. View Article

The post Why Assumable Loans Are Making Headlines – And What They Mean For You appeared first on Summit Mortgage.

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 expensive in the long run... View Article

The post Longer Terms, Lower Payments? Understanding the 50-Year Mortgage Debate appeared first on Summit Mortgage.

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 of advantages to making a move.. View Article

The post Pros And Cons of Buying and Selling in the fall and winter appeared first on Summit Mortgage.