American Fork, UT's Top Mortgage Solutions

Types of Home Loans

Your circumstances are specific to you. We feature a diverse selection of mortgage solutions built around your unique needs. We have programs for first-time buyers, veterans, doctors, those looking to refinance, and much more—just reach out. Whatever the goal, we will help you secure the right mortgage loan that fits your budget and dreams of owning a home.

Conventional Loans

These are loans available from non-government lenders, such as banks and credit unions. Our team provides conventional loan programs with as little as 3% down while offering the best mortgage loan rates throughout the United States.Complete gift funds may be applied to cover your down payment with no initial fees needed!

Pros: Reduced fees as opposed to government-backed loans such as FHA or VA loans, and they offer flexible loan terms.

Cons: Usually, you must come up with at least 3% to 5% down to reduce the risk of extra costs, such as mortgage insurance. They also often have more demanding credit and income qualifications compared to government-supported mortgage programs.

Exploring Refinancing Options

Refinancing can be a great option to free up monthly cash flow—to do this, you refinance your home loan with one that has a lower interest rate. We extend a zero-cost mortgage review for those exploring better home loan terms. Also, skip all hidden fees by refinancing your mortgage loan through us.

Advantages: Refinancing your mortgage can help build wealth by lowering your interest payments over time, freeing up funds for other priorities. Additionally, it lets you access the equity you’ve built. You can use your home’s equity for remodeling projects, reducing financial burdens, or financing life’s big moments.

Disadvantages: While mortgage refinancing offers many benefits, it can lengthen your repayment timeline and ultimately lead to higher lifetime interest costs. Also, if you don't intend on owning the property for many years, this might not be the ideal path.

The Essentials of Retirement Mortgage Options

You can use a reverse mortgage to access your home equity for funds without having to sell your home or pay additional monthly bills. Our dedicated mortgage consultants

Residential Construction Loans

At Summit, we believe that building your own home is so much more than construction, it’s a dream. We offer construction loans that are designed to offer you the freedom and funding to begin construction confidently. It’s up to you to work with an experienced builder or direct the project yourself. Whichever option you choose, we will help you lock in the financing that suits your specific needs and timeframe—this also includes a 180-day lock option, securing your mortgage loan rate for 180 days.

Advantages: You get the flexibility of having the funds to create your property just the way you want.

Disadvantages: Construction loans require a long-term financing solution once the project is completed, but we are here to support you with that next part of your loan and help you find the most competitive mortgage loan rate.

Our skilled team understands construction lending and will keep your build on course with the budget and structure..

Government-Backed FHA Loans

Here, we help make buying a home more accessible—whether you're new to the market, recovering financially, or starting with a minimal down payment. Supported by the Federal Housing Administration, FHA loans are built to support borrowers who are looking for more leeway without compromising on great terms or lasting value.

Benefit: We offer even more flexibility than the typical FHA requirements, with down payments as low as 1.5% and a credit score requirement of 580.

Drawback: These loans have specific loan limits that vary by county, making it challenging to secure funding for more expensive properties in certain areas. Call one of our American Fork, UT mortgage loan specialists to find out more about FHA loans.

No Down Payment? We’ve Got You Covered with a USDA Mortgage

If you’re planning to move to a qualifying rural region, the government offers accommodating loans that promote homeownership and community development in these areas. Get approved for a government-backed USDA mortgage loan with a FICO score as low as 580 and 100% financing available. Contact us now for a stress-free preapproval process.

Advantages: Affordable monthly payments due to competitive interest rates and lower mortgage insurance premiums.

Disadvantages: These loans have guidelines based on the area you're buying in and your household size. Let’s see if you meet the requirements with one of our experienced mortgage consultants.

Recommended Military Mortgage Options

Government-backed VA home loans assist veterans, active-duty members, and surviving spouses purchase a home. Conveniently located by Hill AFB, our loan officers proudly honors veterans. With as little as zero down, no PMI, and the most competitive rates, we’re proud to offer a high-quality mortgage solution to military homebuyers.

Pros: VA mortgage programs provide zero-down financing, so no down payment is required. This makes it easier to support those who serve and their loved ones to become first-time homeowners. Also, unlike conventional loans, VA loans do not mandate monthly private mortgage insurance.

Cons: VA loans often require a single upfront government funding charge, which may raise your total financing cost.

Buy a Prestigious Home With Top-Tier Jumbo Loan Options

For home loans over the conventional limit, our team provides highly competitive Jumbo loan solutions across the Wasatch Front. With minimal down and no private mortgage insurance, this is an exclusive Jumbo program. We accept applications with FICOs as low as 680 or higher with no processing or origination charges.

Advantages: Jumbo Elite Loans offer mortgage loan rates that are more reasonable than traditional jumbo loans.

Disadvantages: Applicants need to prove solid financial capacity for these loans.

Why a Nationwide High Balance Loan Might Be Right for You

Nationwide High Balance Loans offer the perfect middle ground between traditional loans and jumbo loans. Access more than standard conventional loans but still benefit from lower interest rates and flexible qualifying criteria. Especially for high-cost regions, these mortgage loans offer increased limits with more relaxed criteria, making it more affordable for you to buy that dream home you’ve always wanted.

Benefit: High Balance Loans typically feature less money down when compared to Jumbo financing, helping buyers afford homes in expensive areas.

Drawback: Even though Nationwide High Balance Loans are higher than standard conventional loan limits, the total loan value is still restricted to your area's conforming limit. Discover the applicable limit today by connecting with one of our expert mortgage loan specialists near American Fork, UT.

Tailored Commercial Loans

As an independent mortgage brokerage, we help lower financing expenses for all mortgage types. The same goes for commercial loans. You can expect prompt loan handling, a wide range of loan programs, and great interest rates on all commercial loan products. Get in touch today for details about our commercial loan programs. We offer more than traditional home loans to help your success in other ventures outside of home buying.Commercial loans usually cover company operations or property purchases. Commercial loans come in different types, such as SBA-backed funding, commercial real estate financing, and interim loans. We can help you find the best fit for your company.

Advantages: Commercial loans can provide your business with the funds it needs, especially during seasonal and demand fluctuations.

Disadvantages: In some cases, you may need to use collateral, such as company property or individual assets, to qualify for a commercial loan. Speak with one of our knowledgeable lending professionals anytime to discuss your commercial loan options.

A Smarter Way for Doctors to Buy a Home

Don’t let your student loans stop you from purchasing a home. Physician loans simplify the process for you to get the home you’ve been dreaming of. If you’re in or have recently completed a fellowship, doctor loans let you exclude student debt when calculating your debt ratio. Qualify for reduced down payments as low as 3% with a FICO score of 720+. No origination or processing fees on our home loans.

Advantages: Physician home loans are created for doctors and other clinicians, making homeownership more affordable and achievable.

Disadvantages: Doctor mortgage loans are specialized and only offered by select lenders. We are proud of our doctor loans and are honored to extend their advantages to doctors and healthcare providers near American Fork, UT.

Customized Mortgage Options for Every Stage of Life

We're a loan brokerage. We have access to all the products that our clients require. Unable to find your loan program?. Reach out to us and ask. We’re sure to have a mortgage loan plan to match your goals. If that’s not the case, then we will work with you to build a roadmap to attain your homeownership aspirations.