Loan options
Work with one of our experienced loan officers to determine which mortgage or refinance option is best for you. You can also use our Quick Start Form to start the purchase or refinance process and we’ll help you find a loan that fits your specific needs.
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Conventional Fixed-Rate Loans
Fixed-rate mortgages offer buyers predictable monthly payments with an interest rate that will remain the same over the entire term of the loan. A fixed-rate mortgage is ideal for buyers who plan to live in their home for several years or longer.
Explore conventional fixed-rate loans
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FHA Loan
The Federal Housing Administration (FHA) designed these loans to meet the needs of buyers with low or moderate incomes. With only a 3.5% minimum down payment required and flexible qualifying guidelines, this is a great option for young and first-time homebuyers.
Explore an FHA home loan
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Low Down Payment Programs
If you don’t have enough money saved up for a large down payment, you can still qualify for an FHA or conventional fixed-rate loan as long as you’re comfortable taking on mortgage insurance.
See low down payment mortgage options
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Down Payment Assistance Programs
Buyers who don’t have the funds for a down payment can combine gift funds from friends and family, loans, grants, tax credits, and other financial sources to help lower the upfront cost of buying a home and maintain affordable monthly payments.
View down payment assistance programs
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Home Improvement Loans
A home improvement loan can help turn that fixer-upper into your dream home by rolling the purchase price of the property and the renovation cost into a single, low fixed-rate loan.
Consider a home improvement loan
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Adjustable-Rate Mortgage (ARM)
An adjustable-rate mortgage (ARM) generally offers buyers a lower initial interest rate than fixed-rate mortgages. However, after the introductory period, the interest rate may adjust to reflect market conditions on a predetermined date each year.
See how adjustable-rate mortgages work
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Jumbo Loans
Some homeowners dream big. Others dream really big. A jumbo loan might be the best option if you need a loan that exceeds $510,400, have a higher-than-average income, and a great credit score.
Learn how jumbo loans work
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USDA Loans
The US Department of Agriculture (USDA) offers low and no down payment mortgages for eligible rural and suburban homes. Buyers who live outside major metropolitan areas and are unable to secure financing for traditional mortgages may want to consider a USDA loan.
Learn more about USDA loans
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VA Loans
VA loans are guaranteed by the U.S. Department of Veterans Affairs (VA) to help qualified veterans, active-duty service members, and their spouses afford a home. 100% financing is available on qualified transactions without private mortgage insurance (PMI).
Take advantage of a VA home loan
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Refinance
We’ve made refinancing simple for all types of homeowners. Summit Mortgage offers two types of refinancing options: Rate & Term Refinance and Cash-Out Refinance.
Learn more about your refinance options
