Reliable Mortgage Professionals

There’s a Mortgage Loan for Your Goals.

There’s no such thing as a single loan that fits all, because no two people are the same. We all have different requirements, objectives, and dreams. That’s why we take the time to learn about your goals and tailor a loan option that’s built around you.

We work with people from every background:

• New homeowners
• Low-income borrowers
• Healthcare workers with student loan obligations
• Luxury home builders
• Current and former military personnel
• And many more

If you’re concerned you won’t qualify for a mortgage loan rate or don’t have enough funds set aside, 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.

What to Know About Conventional Loans

One of the widely chosen and reliable mortgage loan options out there is a conventional loan—and there's a reason it's so trusted. These loans rely on non-government entities rather than the government, which provides more options when it comes to rate structures, eligible properties, and repayment setup. If you’re well-positioned financially with great credit, you can qualify for a competitive home loan with the best mortgage loan rates in the U.S..

Benefit: You can put down just three percent by applying 100% gift funds to cover your down payment. And of course, absolutely no origination costs when you work with us.

Drawback: Conventional loans often have more conservative debt-to-income requirements, meaning you can’t have too much existing debt.

Conventional loans are a powerful option, but they are not the right fit for everyone. We’re dedicated to guiding you in finding the right path forward and helping you pick the loan that meets your long-term goals.

Understanding Home Refinancing

Refinancing your home involves revising your current home loan to pay off your original mortgage, typically to save on interest over time. We extend a free pre-qualification for anyone looking to refinance. We don’t charge loan origination fees or underwriting fees, making us your smartest mortgage partner.

Advantages: Refinancing your home can enhance your long-term savings by lowering your interest payments over time, letting you keep more of your hard-earned money. Additionally, it grants you access to funds without selling your home. You can use your home’s equity for enhancing your living space, eliminating costly debt, or funding other important projects.

Disadvantages: While mortgage refinancing offers several financial perks, it can increase your loan term and ultimately lead to higher lifetime interest costs. Also, if you don't intend on staying in your home for a long time, this might not be the ideal path.

Breaking Down Retirement Mortgage Options

An ideal choice for individuals aged 62 and older, a reverse mortgage loan gives you access to the monthly funds you require for your needs. Rather than paying the mortgage lender, the lender provides you with payments—with the value you’ve accumulated in your home. There are flexible ways to receive your reverse mortgage proceeds: as a full amount at once, through monthly payments, or as a line of credit you can access as needed. Perhaps the most appealing aspect is that the loan isn’t due until you sell the home, leave the home for good, or in the event of your death.

Benefit: With a reverse mortgage, the money you receive is tax-exempt, which means you don’t need to stress about paying taxes on the amount you receive.

Drawback: Reverse mortgages often involve various closing charges, including mandatory insurance and appraisal expenses. Regardless, Summit Home Loans will give you the best value and never burden you with processing or origination fees.

Call us today, and we’ll guide you in deciding if a reverse mortgage meets your financial goals.

Build Your Home, Your Style With Construction Financing

Construction loans are temporary loans that deliver financing to build a primary residence or for making major upgrades. Secure your residential construction loan through our streamlined process. Our quick and painless loan process provides you a wholesale rate plus fewer closing costs out of pocket. We offer a six-month lock option along with that. No setup fees and no extra charges.

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

Disadvantages: Construction loans demand a final loan option once the home construction is done, but we are here to support you with that next step of your loan and secure the lowest mortgage loan rate.

Our knowledgeable team understands construction lending and will keep your build on course financially and structurally..

How to Qualify for FHA Financing

Here, we make purchasing a home possible—whether you're a first-time buyer, rebuilding credit, or have minimal upfront funds. Supported by the Federal Housing Administration, FHA loans are designed to assist buyers who are looking for extra flexibility without giving up great terms or lasting value.

Pros: Government-backed FHA loans are easier to qualify for because they have lower credit score and income standards than standard mortgages.

Cons: Government-backed FHA loans require both initial and recurring mortgage insurance, which increase your long-term borrowing cost.There are also defined limits on how much you can borrow, which may not be sufficient for expensive properties.

Zero Down Needed? No Problem with a USDA Mortgage

A USDA loan is a government-backed mortgage designed for qualified borrowers in eligible non-urban locations, offering 100% financing and low interest rates. With us, you may be eligible with a FICO score as low as 580 and take advantage of no hidden costs.

Benefit: These loans are more credit-friendly, making it easier for a wide range of buyers to qualify.

Drawback: Given that USDA loans involve additional approval from the USDA as an agency, the approval timeline can require a bit more time than traditional loans.

Supporting American Veterans By Offering VA Mortgage Options

The U.S. Department of Veterans Affairs offers the best mortgage loan that assists active-duty service members, veterans, and surviving spouses buy a house with favorable terms and no down payment. With a Veterans Affairs loan, enjoy lower monthly payments and the lowest available mortgage rates available to you.

Benefit: If needed, it’s possible to lower your rate with a VA Interest Rate Reduction Refinance Loan (IRRRL).

Drawback: VA-backed loans are for primary residences only, meaning they can’t be used to purchase a rental home.

Increase Your Loan Limit With High-Value Jumbo Financing

When your home loan exceeds traditional thresholds, our team provides exceptional rates and flexible loan options in communities all over the Wasatch Front. Thanks to a low down payment of just 10% and no PMI, we deliver industry-leading Jumbo loan products. We work with FICOs as low as 680 or higher with no processing or origination charges.

Benefit: You don't need to worry about having a flawless credit score for a Jumbo Elite Loan. At Summit Home Loans, you can experience features like 10% down, no private mortgage insurance, and loan options for buyers with FICOs of 680 and above.

Drawback: A smaller down payment lets you to purchase your home faster, but it also means you’re borrowing a higher portion of the home's cost. Over time, this could raise your overall payments and interest charges, especially for extended mortgage loan durations.

Nationwide High Balance Mortgages

Enjoy the larger house without the higher rate. Just 10% down required with no private mortgage insurance required. FICOs as low as 680. And no fees for origination or processing. Only a limited number of lenders provide this program across the country.

Advantages: Nationwide High Balance Loans make it possible to buy the residences you desire in a more expensive market. Also, these loans are usually less expensive than jumbo loans and feature more flexible qualifications, making them a smart choice.

Disadvantages: Nationwide High Balance Loans are accessible solely within government-defined high-cost locations. If you plan to buy in a region that doesn’t meet the requirements, this loan may not be offered. Talk to one of our loan specialists near Eden, Utah to explore your options.

Smart Commercial Loans Options

As an independent mortgage brokerage, we help help people spend less with any kind of mortgage loan. This also holds true for commercial loans. You can expect quick turnaround times, customizable loan solutions, and great interest rates on all business property loans. Connect with us at any time to discover more about our commercial financing options. We go beyond traditional mortgage lending to help your success in business ventures too.Commercial loans usually fund business expansion or property purchases. Commercial loans come in multiple options, such as SBA-backed funding, property financing, and bridge loans. Let us find a loan that fits for your goals.

Advantages: Commercial loans can support your business with the capital it needs, especially during seasonal and economic changes.

Disadvantages: You might need to use collateral, such as business property or individual assets, to obtain a commercial loan. Reach out to one of our expert loan officers now to explore your business financing choices.

Loans for Doctors

Don’t let your medical education loans prevent you from buying a home. Physician loans simplify the process for you to own the home you deserve. If you’re in or just finished a fellowship, doctor loans allow you to exclude student debt when calculating your debt-to-income ratio. Take advantage of minimized upfront costs as low as three percent with a FICO score of 720+. Absolutely no origination or processing fees on our mortgage loans.

Pros: Doctor home loans typically offer low or no down payments. This helps medical professionals to become homeowners early on. These loans usually don’t require extra insurance fees, which can save you money every month.

Cons: Doctor loans offer great benefits, but they may come with slightly higher mortgage loan rates than traditional mortgages because of the perceived risk. Doctor home loans are usually only designed for physicians, dentists, and other specified medical personnel.

Personalized Mortgage Programs for All Phases

Life evolves, and we’re here to assist you at any stage in life. As an all-in-one brokerage, we have the capacity to personalize loans to meet your needs. Even if you think you might not qualify for a specific loan, we can look at your options and offer a solution based on your unique situation.