Reliable Home Loan Specialists

Mortgage Loan Types

Your circumstances are specific to you. We provide a wide range of financing programs tailored to your individual situation. We have programs for first-homebuyers, those who have served, healthcare workers, homeowners wanting to refinance, and much more—just let us know how we can help. Whatever the situation, we will help you secure the ideal financing option that matches your budget and housing needs.

Standard Mortgage Loans

One of the most trusted and reliable mortgage loan options on the market is a conventional loan—and there's a reason it's so trusted. These loans are backed by financial institutions instead of the government, which means you have more flexibility when it comes to loan terms, home types, and overall loan structure. If you’re in great shape financially with proven credit strength, we can get you a flexible mortgage solution with the best mortgage loan rates currently available.

Advantages: One of the top perks of conventional loans is that they often come with reduced costs compared to government-backed loans, such as VA or FHA loans.

Disadvantages: However, your down payment will need to be at least three percent to skip additional charges, like added insurance requirements.

Exploring Refinancing Options

Indeed, reworking your mortgage is a smart financial move that may reduce your expenses over time. The biggest advantage? You could get access to a much better mortgage loan rate—cutting your payment costs and saving tens of thousands over the life of your loan. Even a minor cut in your monthly mortgage payment can have a major impact—redirecting funds toward other financial priorities like investing in your future.

Advantages: Refinancing your home can enhance your long-term savings by saving you on interest over the years, letting you keep more of your hard-earned money. Additionally, it gives you the ability to use your home equity. You can use your home’s equity for renovations, reducing financial burdens, or handling unexpected costs.

Disadvantages: While refinancing offers several financial perks, it can extend your home loan and ultimately lead to higher lifetime interest costs. Also, if you’re not planning on staying in your home for a long time, this might not be the most beneficial choice.

Key Information About Reverse Mortgages

A perfect option for seniors aged 62+, a reverse mortgage loan offers you the consistent monthly cash flow for long-term stability. Instead of paying the lender, the lender gives you money—with the equity you’ve already built in your home. The money from your reverse mortgage can be provided: as a full amount at once, through fixed monthly distributions, or as a home equity credit line. What makes it even better is that the loan won’t need to be repaid until you sell the home, no longer live in the home, or pass away.

Pros: You can make the most of your home’s value in retirement. There are no monthly payments required, and the loan is paid off when you no longer live in the home or at the end of life.

Cons: To qualify for a reverse mortgage, you must be 62 or above, have meaningful home equity, and be prepared for mandatory mortgage insurance premiums.

Get in touch with our team, and we’ll assist you in deciding whether a reverse mortgage makes sense for you.

Build Your Dream Home Financing

Construction loans are made to offer quick financing, so you can create your dream home or undertake a large renovation project. They are typically high-interest mortgage loans structured to be repaid once the construction is brought to completion. Unlike standard loans, building loans consist of progressive fund releases as each stage of construction is completed. You’ll find several kinds of construction loans, and one of our expert lenders would be glad to find the right one for you.

Advantages: You enjoy the flexibility of having the funds to make your house just the way you want.

Disadvantages: Construction loans require a permanent mortgage once the construction is complete, but we are here to help you with that next part of your loan and help you find the lowest mortgage loan rate.

Our experienced team knows construction lending and will keep your build on schedule with the budget and structure..

Qualify for FHA Financing

Here, we help make buying a home easier—whether you're a first-time buyer, fixing your credit, or have a limited budget. Insured by the Federal Housing Administration, FHA loans are designed to assist homebuyers who need extra flexibility without sacrificing favorable conditions or lasting value.

Benefit: Our programs provide even more flexibility than the traditional FHA requirements, with entry points beginning at 1.5% down and a minimum FICO score of 580 or higher.

Drawback: These loans have set loan limits that vary by county, making it harder to get approved for a loan for higher-priced homes in certain areas. Call one of our Centerville, Utah mortgage loan advisors to find out if a FHA loan is right for you.

USDA Home Loans

A USDA loan is a government-backed mortgage designed for low-to-moderate-income homebuyers in eligible non-urban locations, offering 100% financing and affordable interest rates. With us, you may be eligible with a credit standing as low as 580 and enjoy no hidden costs.

Pros: It’s a helpful solution for anyone short on savings, because it requires no money down. In most cases, USDA loans come with more affordable mortgage insurance than other loans, allowing you to keep more money in your pocket.

Cons: These home loans are exclusively for homes in designated regions, only valid for approved neighborhoods.. Eligibility is partly based on income, so higher-income borrowers may not qualify.

Assisting American Veterans By Offering Military Home Loans

The Department of Veterans Affairs offers a home loan program that helps active-duty service members, veterans, and surviving spouses buy a house with favorable terms and no down payment. With a Veterans Affairs loan, enjoy more manageable payments and the best interest rates tailored for veterans.

Benefit: When appropriate, you can quickly decrease your monthly rate with a VA Interest Rate Reduction Refinance Loan (IRRRL).

Drawback: VA loans are intended for your main home, meaning you can’t use them to purchase a rental home.

Expand Your Home Options Using a Jumbo Elite Loan

Exclusive estates demand financing that fits their scope and refinement, which is why Jumbo Elite loans are a great option. Jumbo Elite loan programs are for buyers who need more than what conforming mortgage loan limits allow without compromising on affordable rates or smooth processing. With our experienced team guiding the process, getting financing for a luxury home feels anything but complicated.

Benefit: You don’t need a flawless credit score for a Jumbo Elite Loan. At Summit Home Loans, you can benefit from perks like 10% down, no PMI, and loan options for buyers with FICOs beginning at 680.

Drawback: A smaller-sized down payment lets you to get into your home quicker, but it also means you’re financing a higher portion of the home's cost. Over time, this could raise your overall monthly payments and finance charges, especially for extended mortgage loan terms.

Buy a High-Cost Home with More Attractive Terms

For those of you who wish purchase properties in high-cost areas where home prices are higher than average, a Nationwide High Balance Loan may be the perfect option. Unlike jumbo loans, Nationwide High Balance loans are backed by Fannie Mae and Freddie Mac and generally come with better mortgage loan rates. We’re proud to be one of the select lenders across the country who can provide this exclusive lending option.

Advantages: Nationwide High Balance Loans help you afford the residences you want in a high-cost market. Also, these loans are typically cheaper than jumbo loans and have simpler qualification requirements, making them a solid choice.

Disadvantages: Nationwide High Balance Loans may only be accessed in officially recognized high-cost markets. When buying in a region that isn’t eligible, this loan may not be offered. Speak to one of our mortgage loan experts near Centerville, Utah to find out more.

Commercial Loans for Businesses

As an independent mortgage brokerage, we strive to help people spend less across various mortgage options. The same goes for commercial properties. You can expect fast service, diverse financing choices, and great interest rates on all commercial loan products. Speak with us today to find out more about our commercial loan programs. We go beyond traditional home loan services to assist your success in business ventures beyond the home.Commercial loans typically fund company operations or property purchases. Commercial loans are offered in a range of formats, such as SBA loans, commercial property loans, and short-term financing. Let us guide you to the right loan for your business.

Pros: Commercial financing options enable you to get major financing to buy, refinance, or develop commercial property.p>

Cons: These types of loans typically come with higher borrowing costs versus typical mortgage loans because they carry more risk. At times, you may need established credit, well-prepared documentation, and a large down payment to get approved.

Physician Loans

We get that becoming a medical professional takes years of training, but we believe homeownership shouldn’t have to be delayed.Which is why we’ve developed the best mortgage solutions, tailored just for doctors like you. Whether you're in residency or a licensed physician, our physician mortgage is here to support you.

Advantages: Physician home loans are created for those in the medical field, making homeownership more simple and attainable.

Disadvantages: Physician home loans are specialized and available at a limited number of lenders. We take pride in our doctor loans and are pleased to extend their special options to doctors and healthcare providers near Centerville, Utah.

Tailored Home Loan Solutions for Every Life Stage

Life is always changing, and we’re here to help at every stage of your journey. As a full-service brokerage, we can personalize loans to meet your needs. Even if you think you may not qualify for a certain mortgage, we can look at your options and offer a solution based on your unique situation.