|Loan Amount||Up to $4,000,000|
|Loan Term (Years)||15 - 40|
Where does Summit Funding do business?
Summit Funding is a direct lender based in Sacramento, CA. The company was founded in 1995 and offers mortgage refinancing to borrowers in 33 states across the USA.
What is the maximum loan term for a mortgage refinance via Summit Funding?
The term of a mortgage refinance will determine the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Summit Funding offers mortgages refinancing with terms ranging from 15 to 40 years.
Does Summit Funding charge a mortgage origination fee?
Yes, Summit Funding may charge a loan origination fee.
What mortgage programs does Summit Funding offer?
Summit Funding offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
- VA: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses.
What property usage types does Summit Funding allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Summit Funding allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- South Carolina