Fixed Rate Mortgages
Fixed Rate mortgages guarantee that the interest rate you start with will remain constant throughout the life of the loan. We offer loan terms from 10 to 30 years to meet your needs. We can even customize your loan with features such as a buydown, which reduces your payment amount for the first few years, or a bi-weekly, which reduces the term and total interest payments over the life of the loan. We have pioneered the "piggy-back" mortgage, where we couple a second trust with our first trust. This eliminates the need for private mortgage insurance which reduces your monthly payment. We offer piggybacks with fixed or adjustable rate mortgages.
FHA & VA
Summit First Financial provides both FHA and VA loans to meet your needs. If you are a veteran and have a "Certificate of Eligibility," you may want to use it to purchase a home with no down payment. If you are not a veteran, you may qualify for a FHA loan with a small down payment. Talk to us today to help you make the right decision that best fits your situation.
Adjustable Rate Mortgages
Adjustable rate mortgages have an interest rate that may increase or decrease depending on market conditions. The starting rate will generally be lower than a fixed rate mortgage. The change in the rate may occur at various intervals depending on the product you choose. We have interest rates with the first adjustment from one to ten years.
Jumbo Loans
If your hard work has paid off and you're looking to build a distinguished home, we offer a jumbo loan that will make your dream a reality. The more you borrow, the more you may be able to maximize your tax deduction for mortgage interest.
You'll benefit from a quick application process with flexible underwriting. And, of course, you'll have the choice of a fixed or adjustable rate.
Permanent Loan
If you've already completed the arrangements for construction financing, we offer a wide variety of permanent financing options. Programs range from fixed and adjustable rates to FHA/VA financing. Talk to your Loan Originator about our competitive rates and programs.
Please contact your Loan Officer for additional information.
Programs subject to change without notice.