Reliable Mortgage Professionals

There’s a Mortgage Loan for Your Situation.

There’s no such thing as a one-size-fits-all mortgage loan, because every homeowner has different needs. We all have different requirements, plans, and aspirations. That’s why we go the extra mile to get to know your individual requirements and craft a financing solution that’s aligned with your needs.

We assist people from all walks of life:

• New homeowners
• Homebuyers with limited income
• Medical professionals managing student loan debt
• Builders of high-end homes
• Current and former military personnel
• And countless others

If you’re worried you won’t get approved for a home loan or don’t have enough money saved for a down payment, don’t rule yourself out. Give one of our knowledgeable team members a call, and you’ll be amazed by how many options are available for you at Summit Home Loans.

Things to Know About Traditional Home Loans

One of the most popular and broadly applicable mortgage loan options in today’s market is a conventional loan—with good cause. These loans are supported by financial institutions as opposed to the government, which gives you more options when it comes to rate structures, eligible properties, and loan customization. If you’re financially well-qualified with a good credit score, we can get you a traditional mortgage with the best mortgage loan rates nationwide.

Benefit: You can get started with only a 3% down payment by applying entirely gifted funds options. And of course, zero upfront charges at us.

Drawback: Conventional loans often have more rigorous debt-to-income ratio thresholds, meaning you need to show a healthy balance between income and debt.

Conventional loans are a strong option, but they might not be suitable for all applicants. We’re committed to guiding you in navigating all your financing solutions and ensuring you choose the loan that meets your long-term goals.

Save More by Refinancing Your Mortgage

Refinancing can be a beneficial option to lower your monthly expenses—to do this, you replace your current mortgage with one that has a more favorable interest rate. We deliver a complimentary refinance consultation for those looking to improve get the best mortgage loan rate. Also, bypass all loan origination fees by refinancing your mortgage loan with our expert team.

Advantages: Refinancing your mortgage can put you on the path to financial freedom by saving you on interest over the years, which can translate into major long-term savings. Additionally, it enables you to turn equity into usable funds. You can use your home’s equity for enhancing your living space, paying off high-interest debt, or financing life’s big moments.

Disadvantages: While mortgage refinancing offers numerous advantages, it can increase your loan term and ultimately mean paying more interest over time. Plus, if you’re not planning on keeping your home for the foreseeable future, this might not be the ideal path.

Reverse Mortgages

A great solution for people 62 and older, a reverse mortgage loan delivers the financial stability you need for a more secure future. Rather than paying the mortgage lender, the lender pays you—through the equity you’ve accumulated in your home. You can receive your reverse mortgage funds: as a lump sum, through consistent monthly payments, or as a revolving line of credit. A key benefit is that the loan doesn’t need to be repaid until you sell the home, transition to a new residence, or pass away.

Pros: It's easier than you think to increase retirement income. There are no monthly payments required, and the loan is taken care of when you move out or after you’ve passed.

Cons: To apply for a reverse mortgage, you must be 62 or above, have strong equity in your home, and be prepared for mandatory mortgage insurance premiums.

Call now to speak with someone, and we’ll discuss if a reverse mortgage loan fits your personal goals.

Get Started on Your Dream Home With Flexible Construction Financing

Construction loans are meant to offer fast financing, so you can create your dream home or undertake a large-scale renovation project. They are typically high-interest mortgage loans designed to be settled once the construction is finished. Unlike standard loans, construction loans consist of progressive fund releases as each stage of construction is completed. We offer several kinds of construction loans, and a knowledgeable loan specialist would be glad to match you with the right option.

Benefit: Most construction loans ask for payments on interest only during the development stage.

Drawback: Construction loans usually call for a substantial down payment. You’ll also need detailed plans, a construction schedule, and a licensed contractor in place before being approved.

Our expert team specializes in construction lending and will keep your build moving forward financially and structurally..

Qualify for FHA Financing

We're an FHA-approved mortgage company, and we’re dedicated to showing you the benefits and features of FHA loan offerings. FHA financing options help those purchasing a home for the first time and those with lower incomes, featuring more flexible requirements than non-FHA mortgages. Lower than average FHA criteria, we ask as little as 1.5% down and a credit rating of 580..

Benefit: You’ll find our programs offer even more flexibility than the typical FHA requirements, with down payments as low as 1.5% and a minimum FICO score of 580 or higher.

Drawback: Government-backed FHA mortgages have specific loan limits that change from one county to another, making it challenging to obtain financing for more expensive properties in specific locations. Reach out to one of our Eagle Mountain, Utah mortgage loan specialists to learn more about FHA loans.

Purchase a Home in a Qualifying Rural Location with a USDA Mortgage

If you’re dreaming of remote landscapes and a house that offers a genuine getaway, a USDA loan could help bring that dream to life. USDA loans are for specific non-urban regions, and they allow 100% of the cost to be financed, which means no down payment. Purchasing a house in a rural area is a chance to invest in a place you love without the burden of a large down payment.

Benefit: USDA-backed loans are flexible with credit history, making it easier for people from various credit backgrounds to qualify.

Drawback: Since USDA loans necessitate additional approval from the USDA itself, the funding timeline can require a bit extra time than standard loans.

Mortgage Lending Options to Support Veterans

VA home loans assist military veterans, military personnel, and surviving spouses get a house. Serving the Hill AFB area, our loan officers proudly supports military veterans. With 0% down, no mortgage insurance, and great rates, we’re proud to offer a top-tier mortgage solution to our valued veteran clients.

Pros: VA loans come with zero-down financing, meaning you don’t need a down payment. This helps simplify the process for eligible service members, veterans, and their loved ones to become first-time homeowners. Also, compared to standard home loans, VA-backed loans don’t require extra PMI costs.

Cons: VA-backed loans often require a lump-sum funding fee, which can add to the total cost of the loan.

Tap Into More Buying Power With Exclusive Jumbo Mortgage Loan Programs

Exclusive estates call for funding that complements their scope and luxury, which is why Jumbo Elite loan programs are a fantastic option. Jumbo Elite loan programs are for buyers who require more than what conventional loan caps allow without settling on competitive rates or smooth processing. With our knowledgeable team leading the process, securing financing for a luxury home feels anything but complicated.

Pros: You can obtain higher sums than conventional loans, which is perfect for buying high-end homes. With competitive mortgage loan rates, Jumbo loans offer multiple loan terms, providing freedom for prospective homeowners who seek a larger mortgage.

Cons: While competitive, Jumbo Elite home loan rates can be greater than those of conventional loans, resulting in bigger monthly payments.

Why a Nationwide High Balance Loan Could Be The Right Choice for You

For those of you who are looking to purchase properties in high-priced areas where home prices are higher than average, a Nationwide High Balance Loan might be the answer. Unlike jumbo loans, Nationwide High Balance loans are backed by Fannie Mae and Freddie Mac and often come with more competitive mortgage loan rates. We’re proud to be one of the limited lenders across the country who can extend this exclusive program.

Benefit: High Balance Loans typically offer less money down than traditional Jumbo loans, making high-cost homes more accessible.

Drawback: Even though Nationwide High Balance Loans surpass standard conventional loan limits, the total loan value is still limited at your regional conforming cap. Discover the applicable limit today by contacting one of our expert home loan advisors near Eagle Mountain, Utah.

Drive Your Business Success With a Tailored Commercial Loan

As an independent mortgage brokerage, we aim to reduce costs for our clients with any kind of mortgage loan. This also holds true for commercial loans. We provide fast service, a wide range of loan programs, and low rates on all commercial loan products. Reach out at any time for details about our commercial loan programs. We go beyond traditional mortgage lending to assist your success in business ventures as well.Commercial loans usually finance business growth or acquisitions. Commercial loans come in different types, such as SBA loans, commercial property loans, and short-term financing. We can guide you to the right loan for your company.

Benefit: We offer competitive rates to assist you in managing your costs as you scale your business.

Drawback: Based on the loan type and your financial profile, a bigger down payment could be required.

Loans for Doctors

Don’t let your student loans prevent you from purchasing a home. Loans for doctors simplify the process for you to get the home you've always wanted. If you’re in or just finished a medical residency, physician loans let you exclude student debt when calculating your debt ratio. Get access to reduced down payments as low as three percent with a FICO score of 720. Absolutely no origination or processing fees on our loan programs.

Benefit: You stand to save hundreds per month since Private Mortgage Insurance is usually not required.

Drawback: Not many lenders provide doctor mortgage programs, but we are pleased to be a provider. Reach out today and take the first step for your dream home..

More Loan Options

Life constantly changes, and we’re here to help at any stage in life. As a comprehensive mortgage brokerage, we can customize loans to fit your specific needs. Even if you believe you may not qualify for a certain mortgage, we can consider other options and find a solution that fits your needs.