LOAN TYPES

US Department of Agriculture (USDA) home loans are special loans designed for eligible properties in rural areas. These home loans provide affordable homeownership opportunities with the benefits of zero down payment and fixed interest rates.

Refinancing a home is a reassessment of your current home loan in order to possibly obtain a better loan term or interest rate. Refinancing your home loan is all about the bottom line: What will it cost and will it make financial sense for you?

Obtaining a home loan in a different state can be a challenging process and may take a bit longer than if you were to apply for a mortgage in your home state. Summit Mortgage Corp. has the right tools and resources to help you with the relocation process.

Loans whose amount exceed conforming loan limits set by Fannie Mae & Freddie Mac.  The conforming loan limit in the Portland/Metro Area is currently $484,350. A jumbo home loan helps qualifying home buyers purchase a high-priced or luxury home.

High balance loans are conventional mortgages in which the loan amount exceeds conforming loan limits, but does not exceed loan limits for the high-cost area where the property is located. These loans are for high-cost areas like San Francisco, Los Angeles, San Diego, etc.

These loans allow homeowners or home buyers to finance their home and a home renovation through a single mortgage. These programs allow homeowners or home buyers to borrow based on the home's expected value after the renovations are complete.

Investment properties can be a great way to blend fun vacations with sound investing. Residential investment loans may be for you if you're dreaming about vacation homeownership near your favorite location or buying a second home.

Reverse mortgages, also known as a Home Equity Conversion Mortgage (HECM), are excellent mortgage programs that allow borrowers aged 62-years and older to withdraw equity on their home.