Summit Funding Mortgage Refinance
Summit Funding Mortgage Refinance
in Mortgage Refinance from Summit Funding · NMLS ID #3199

Summit Funding Mortgage Refinance

in Mortgage Refinance from Summit Funding · NMLS ID #3199
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Loan Amount Up to $4,000,000
Loan Term (Years) 15 - 40 years

Summit Funding Mortgage Refinance Review

Summit Funding Mortgage Refinance is offered by Summit Funding (NMLS #3199), a direct lender founded in 1995 and based in Sacramento, CA. Summit Funding Mortgage Refinance are available in 33 states across the USA.

Key Takeaways

  • 3 different mortgage programs offered. Summit Funding Mortgage Refinance refinances FHA, USDA, VA, conforming, and conventional mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Non-standard interest rates available. Summit Funding Mortgage Refinance offers hybrid mortgages, and fixed-rate mortgages.
  • Considers personal use and investment properties. Refinancing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Long loan terms. Summit Funding Mortgage Refinance offers mortgage terms of up to 40 years. Most mortgage refinancing loans have a maximum term of 30 years.

Summit Funding Mortgage Refinance Pros & Cons

Pros Cons
  • Available in 33 states.
  • Charges an origination fee.
  • Charges prepayment fees.

Summit Funding Mortgage Refinance FAQ

What is the maximum loan term for a mortgage refinance via Summit Funding Mortgage Refinance?

The term of a mortgage refinance will impact 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 Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 40 years.

How long does Summit Funding Mortgage Refinance take to refinance?

Generally, it takes Summit Funding Mortgage Refinance between 14 and 30 days to complete a refinance. Of course, this is just an estimate. The exact time will vary depending on the lender and the market.

Does Summit Funding Mortgage Refinance charge a mortgage origination fee?

Yes, Summit Funding Mortgage Refinance will charge a loan origination fee.

What mortgage programs does Summit Funding Mortgage Refinance offer?

Summit Funding Mortgage Refinance 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 Mortgage Refinance allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Summit Funding Mortgage Refinance allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
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Other Services by Summit Funding


  Available in 33 states
  • Alabama
  • Arizona
  • California
  • Colorado
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Michigan
  • Minnesota
  • Mississippi
  • New Hampshire
  • New Jersey
  • New Mexico
  • North Carolina
  • Ohio
  • Oregon
  • South Carolina
  • Tennessee
  • Texas
  • Vermont
  • Virginia
  • Washington
  • Wisconsin
  • Wyoming

Feature Breakdown

Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Loan Term 15 - 40 years
Loan Amount Up to $4,000,000
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs
  • FHA
  • USDA
  • VA

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