Fruitland, UT's Top Mortgage Loans

A Mortgage Loan That Matches Your Needs.

There’s no such thing as a standard home loan for everyone, because no two people are the same. We all have different financial situations, goals, and desires. That’s why we make it a priority to understand what makes you unique and craft a mortgage loan that’s a perfect fit for your lifestyle.

We assist people from all life stages:

• New homeowners
• Homebuyers with limited income
• Doctors navigating student debt
• Developers of upscale properties
• Active-duty personnel and vets
• And a wide range of other clients

If you’re nervous you won’t be eligible or don’t have enough money saved for a down payment, don’t count yourself out. Give one of our trusted loan specialists a call, and you’ll be impressed by how many options are available for you at Summit Home Loans.

Is This the Right Time for a Conventional Mortgage?

Conventional loans operate differently than federally backed loans. They are made available through non-government lenders, like major banks and credit unions. At Summit Loans, we deliver you a standard loan with as little as just 3% down and allow total gift funds for your down payment. This is entirely available to you with no loan processing or transaction fees.

Advantages: One of the most appealing aspects of conventional loans is that they often come with reduced costs compared to loans backed by the government, such as FHA or VA loans.

Disadvantages: However, your down payment will need to be at least 3% to reduce out-of-pocket fees, like monthly insurance premiums.

Conventional loans are a highly effective option, but they aren’t the perfect solution for everyone. We’re focused on helping you in finding the right path forward and connecting you to the loan that fits your bigger picture.

Understanding Home Refinancing

It’s true, refinancing your home loan is a great strategy that may help you save money in the long run. The primary reason to refinance? You could get access to a far more competitive rate—slashing your monthly payments and building major long-term savings. Even a slight decrease in your home loan payment can free up meaningful cash flow—freeing up money for other financial priorities like paying off debt.

Benefit: Refinancing from an ARM (adjustable-rate mortgage) to a stable-rate loan helps you ensure steady payments and protect yourself from future interest increases—providing financial stability throughout your mortgage.

Drawback: The closing costs associated with refinancing can be significant, but we remove any initial lender fees, making us the leading lender for home loan refinancing.

Senior Home Loans

A unique option for those 62 years old and older, a reverse mortgage loan offers you the consistent monthly cash flow for a more secure future. Rather than paying the mortgage lender, the lender pays you—through the equity you’ve accrued in your house. You can access the money from your reverse mortgage: as a single upfront payout, through fixed monthly distributions, or as a flexible credit line. The great thing is the loan doesn’t have to be paid back until you decide to sell your home, relocate permanently, or after death.

Advantages: You may continue to reside in your home for as long as you continue living there. You or your heirs will not be responsible for more than the home’s value at closing, even if the loan amount exceeds the home’s value.

Disadvantages: As the loan balance increases, it impacts the equity you can transfer to your beneficiaries.

Reach out to us, and we’ll help clarify whether a reverse mortgage is a smart choice for you.

Construction Loans: Personalized Financing for Your Future Home

Here, we understand that building your own home goes beyond bricks and mortar, it’s where your future begins. Our construction loans are structured to give you the flexibility and financial support to break ground with confidence. You can find a builder or become your own project manager. Either way, we can help you lock in the financing that aligns with your financial goals and schedule—this comes with a 180-day lock option, securing your mortgage loan rate for 180 days.

Advantages: You enjoy the flexibility of using the funds to create your property exactly how you envision it.

Disadvantages: Construction loans demand a final loan option once the build is done, but we are here to help you with that next step of your loan and find the best loan rate.

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

Easier Homeownership with FHA Financing

FHA home loans are protected by the FHA and designed to help low-income buyers or first-time homebuyers. We're an FHA-approved broker, giving our clients many advantages with FHA financing programs. We offer FHA home loans with an initial payment of only 1.5% down and a credit score of 580. 100% gift funds are allowed, with no fees for origination or processing.

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

Drawback: Government-backed FHA mortgages have specific loan limits that depend on the county, making it harder to obtain financing for more expensive properties in specific locations. Speak to one of our Fruitland, UT mortgage loan experts to find out more about FHA loans.

USDA Loans

If your heart is set on wide-open spaces and a home that feels like a true escape, a USDA loan could help bring that dream to life. This loan program supports eligible small-town and suburban areas, and they offer 100% financing, which means no down payment. Moving to the countryside is a chance to put down roots where you’re happy without the stress of major upfront costs.

Advantages: Lower monthly payments made possible by below-market rates and reduced insurance costs.

Disadvantages: These loans have qualification standards based on the location and the size of your family. Find out if you’re eligible with one of our friendly loan advisors.

Home Loans to Support Eligible Veterans

Government-backed VA loan programs help veterans, military personnel, and surviving spouses get a house. Based near Hill Air Force Base, our loan officers proudly supports those who've served. With zero down payment, no private mortgage insurance, and great rates, we’re proud to offer a top-tier financing option to the veterans we serve.

Pros: VA loans feature full financing, so no down payment is required. This helps simplify the process to support military service members, veterans, and their families to own a home for the first time. Also, unlike typical mortgages, VA mortgage programs don’t require extra PMI costs.

Cons: VA mortgage programs often include a single upfront VA funding fee, which may increase the overall loan amount.

Invest in an Exclusive Residence Using Jumbo Loan Options

If you're ready to purchase a high-value home, we’re here to turn that into reality. Jumbo Elite Loans are specifically tailored for high-net-worth individuals who wish to finance luxury or high-priced loans that go beyond conventional limits. We accept as little as 10% down and don’t require mortgage insurance.

Pros: You can borrow greater amounts than regular mortgage options, which is ideal for investing in expensive homes. With competitive mortgage loan rates, Jumbo loans offer multiple term options, providing flexibility for prospective homeowners who are looking for a bigger loan.

Cons: While competitive, Jumbo Elite home loan rates can be higher than those of standard loans, resulting in increased monthly payments.

Purchase a High-Cost Home with More Favorable Terms

Get the bigger house without the higher rate. As little as a 10% down payment required with no mortgage insurance required. FICOs of 680 and above. And no fees for origination or processing. Only a limited number of lenders provide this program nationwide.

Benefit: These home loans typically come with less money down than Jumbo loans, helping buyers afford homes in expensive areas.

Drawback: Although Nationwide High Balance Loans exceed traditional conventional loan limits, the loan amount is still capped by the conforming limit in your area. Discover the applicable limit today by consulting one of our expert mortgage loan specialists near Fruitland, UT.

Flexible Commercial Loans

When it’s time to grow your business, you need funding that works as hard as you do. Our commercial loans make it easier to grow your business—whether you're acquiring commercial real estate, upgrading your facilities, buying equipment, or expanding into a new area. Use our smart commercial loans built around your business goals, income cycle, and growth plans—so you can keep your attention on scaling up.

Pros: Commercial financing options let you borrow more to acquire, restructure, or build business property.p>

Cons: Commercial loans may carry higher borrowing costs versus typical mortgage loans because they come with higher risk. In some cases, you may need established credit, a business plan, and a large down payment to get approved.

Benefit from Our Doctor Mortgage Loan Programs

Don’t let your student loan debt hold you back from purchasing a home. Physician loans help make it easier for you to buy the home you deserve. If you’re still completing or just finished a medical residency, doctor loans let you exclude student debt when calculating your debt-to-income ratio. Enjoy down payments as low as 3% with a FICO score of 720. No loan origination or processing fees on our home loans.

Pros: Doctor loans often come with minimal or zero down payments. This enables healthcare providers to get into a home at the start of their careers. These loans generally don’t require Private Mortgage Insurance, which can save you money every month.

Cons: Doctor loans offer strong advantages, but they may come with somewhat higher mortgage loan rates than regular financing because of the added lender risk. Medical professional loans are typically only available to physicians, dental professionals, and other specified healthcare providers.

Don't See a Loan Option that Suits You?

Life is always changing, and we’re here to help at every stage of your journey. As a comprehensive mortgage brokerage, we have the capacity to personalize loans to match your goals. Even if you think you don’t qualify for a certain mortgage, we can explore your options and find a solution tailored to your individual situation.