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 to understand how your budget might... View Article

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Imagine your child’s teacher, the police officer next door, or a nurse at your local clinic – all struggling to find home’s they can afford in the community they serve. That’s the “middle housing gap” in action. This sector is often squeezed between low-income subsidized units and high-end market homes. At Summit Mortgage, we believe... View Article

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Ever wondered why a cousin or parent might co-sign on your loan – or why someone might choose to co-borrow with you? Both roles can help you qualify for a mortgage, but they come with different rights, responsibilities, and relationship dynamics. At Summit Mortgage, we’re here to clarify it all, so whether or not someone... View Article

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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 for you.

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What FICO Credit Scores Do Mortgage Lenders Use? Your credit score is a critical factor in determining if you can purchase a house, what programs you will qualify for, how much you’ll need to have saved for a down payment and what interest rate you’ll pay over the life of your home loan. You could... View Article

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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 is a privately-owned mortgage lender in Minnesota and industry leader, providing the full spectrum of... View Article

The post The Top 5 Reasons You Should Choose Summit Mortgage appeared first on Summit Mortgage.

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 they’re used, how they work, and the pros and... View Article

The post Rent-back agreement and how they impact the buyers and sellers appeared first on Summit Mortgage.

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.

The post  From Renter to Homeowner: How Our Workshop Can Help You Get There appeared first on Summit Mortgage.