The housing market has been turbulent over the last few years, to say the least. Homebuilders were finally ramping up construction to keep up with surging demand. Then, mortgage rates shot into the stratosphere. As a result, many homebuilders pumped the brakes, which made the shortage worse. With new homes hard to come by, you... View Article

The post A Boost in Homebuilder Sentiment as Mortgage Rates Trend Down appeared first on Summit Mortgage.

Is your stress about making the down payment stopping you from taking the plunge and buying a home? We get it; the thought of putting a huge sum of money down can be daunting. The good news, though, is that there are some great down payment assistance programs out there to help first-time homebuyers keep... View Article

The post Down Payment Assistance Programs in 2024: Support for First-Time Homebuyers appeared first on Summit Mortgage.

Learn how top real estate agents find and vet the loan officers they recommend to their clients. Even if you’re not a real estate agent, you can learn from the pros what to look for in a mortgage loan officer as you secure the financing to buy your home or vacation property.

The post How Top Real Estate Agents Vet Loan Officers appeared first on Summit Mortgage.

What comes to mind when you think of a “starter home”? “Cheap,” “run-down,” and “bad investment” are all popular associations with the term. However, more first-time buyers are turning the notion of a starter home on its head. If you’re buying your first home for the long run, there are a few great strategies to... View Article

The post Your First Home Can Be Your Dream Home, Here’s How appeared first on Summit Mortgage.

The homebuying process can be a lot like a movie story structure. There’s the exposition of deciding to buy, the rising action of mortgage applications and house hunting, and the climax of closing day. While new homeowners may be ready for the story to end after the document-signing marathon of closing day, there are still... View Article

The post Your Do’s and Don’ts After Closing Day appeared first on Summit Mortgage.

You should never settle for less than your dream home. If you find one that’s “close enough” if it had a little tweak here or an improvement there, you can still finance a home and your improvements with only one loan. Understanding the nuances of renovation home loans will help you decide if you are... View Article

The post Your Guide to Renovation Home Loans appeared first on Summit Mortgage.

During your homebuying process, you’ll have a close relationship with your personal lender. After closing day, however, your loan will be managed by a loan servicer who may or may not be the lender who assisted with your loan during the home buying process. Either way, the loan servicer will provide notice of their service... View Article

The post What Does My Lender Need to Know After Closing Day? appeared first on Summit Mortgage.

Before you start looking for your first home, you’ll want to meet with your lender for mortgage pre-approval. This is an essential first step to secure most types of loans, including conventional, fixed-rate home loans. A mortgage pre-approval is a document from a lender indicating that you have met the initial criteria to qualify for... View Article

The post What Do I Need for Mortgage Pre-Approval? appeared first on Summit Mortgage.