Home Affordability Calculator
Home Loans & Mortgages
Get Started
Compare Rates
Save on Closing Costs With Our Homebuyer Bonuses!
-
First-Time Homebuyer Bonus: $1,100 Cash Back OR Off Closing Costs * -
Home Purchase Bonus: $600 Cash Back OR Off Closing Costs *
Feel at Home With a Summit Credit Union Mortgage
-
A free preapproval in less than 15 minutes * (see why this is such a smart first step) -
The flexibility to submit your application now and lock in your rate anytime up to 7 days before closing (great in a rising rate environment) -
Local mortgage service for the life of the loan -
Helpful
Meet With Us
Get a Preapproval
Mortgage and Loan Options for Homebuying
comparison of Fixed-Rate and Adjustable-Rate Mortgages
Fixed-Rate Mortgage
-
You love the stability of knowing what your payments will be. -
You expect to stay in your home for a while.
Explore Option
Meet With Us
Adjustable-Rate Mortgage (ARM)
-
You’re looking for a more affordable payment early on. -
You don’t plan to stay in your home for the long haul. -
You want a down payment option as low as 10% and the savings of no mortgage insurance requirement.
How do ARM loans work?
Explore Option
Meet With Us
Bridge Loan
-
You don’t want to worry about having to sell your home before buying your next home.
Get Started
Meet With Us
Jumbo Loan
-
You’re looking for a home loan over the conventional loan limit. Conventional Loan LimitThe current limit is $806,500. This amount may change on a yearly basis.
Get Started
Meet With Us
Homeownership May Be Closer Than You Think. We’re Here To Help!
Meet With Us
What Are the Benefits of a Free, 15 Minute Preapproval?
-
Your most recent 30 days of pay stubs and two years of W-2s. -
Your non-Summit statements for all bank accounts and loan balances.
Get a Preapproval
Let’s Help You Take the Next Step
Already Applied?
Log In
Compare Two Mortgage Loans
Rent or Buy? Calculator
Daily Expense Worksheet
FAQs
Why should I consider getting pre-approved before buying a home?
A pre-approval tells you how much the lender is willing to let you borrow based on your income, expenses and credit score using an automated underwriting process. But more importantly, you’ll look at those numbers too and get a feel for how much you are comfortable paying each month. Nothing says you have to borrow up to the limit. Leave yourself a cushion, because you’ll probably want to buy a couch—and who knows what else.
Pre-approval also gives you more credibility than other potential buyers who aren't yet approved. Once you decide it’s time to start looking at a home, Get Preapprovedschedule an appointment
What are your mortgage rates?
You canreview our mortgage purchase ratesreview our mortgage refinance rates
on our rates page
What are the closing costs for my mortgage?
The specific amount of your closing costs will vary because appraisal fees, title charges, and closing fees may all vary from state to state and also from lender to lender.
To assist you in evaluating our fees, we've grouped them as third-party fees, taxes and other unavoidable costs, and lender fees:
Third-party fees include the appraisal fee, the credit report fee, the settlement or closing fee, the survey fee, tax service fees, title insurance fees, flood certification fees, and courier/mailing fees.
We will collect these fees and pass them on to the person who actually performed the service.
For example, an appraiser is paid the appraisal fee, a credit bureau is paid the credit report fee, and a title company or an attorney is paid the title insurance fees.
Taxes and other unavoidable costs include State/Local Taxes and recording fees.
These fees will most likely have to be paid regardless of the lender you choose.
If some lenders don't quote you fees that include taxes and other unavoidable fees, don't assume that you won't have to pay them. It probably means that those lenders have not done the research necessary to provide accurate closing costs.
Lender fees such as points, document preparation fees, and loan processing fees.
These fees are retained by the lender and used to provide you with the lowest rates possible.
This is the category of fees that you should compare very closely from lender to lender before making a decision.
Can I make bi-weekly payments on my 1st mortgage?
Automatic payments to a 1st mortgage can only be set up as monthly.
You can make additional payments directly to your principal in online banking at any time, once your regular minimum monthly payment has been satisfied.
Do you have any deals for first time home buyers?
We offer Down Payment Assistance Programs for eligible buyers.
Other Options to Make Your Home Work for You
Featured Products
Financial Education
About
Help & Support
Stay on SummitCreditUnion.com
Go
Consumer Financial Protection Bureau's website.
