SUMMIT MORTGAGE CORPORATION | NMLS 3236 • Equal Housing Opportunity
Information is not guaranteed and should be verified.  Licensed in CA by the Department of Business Oversight. Loans will be arranged or made pursuant to the California Financing Law. Questions and concerns may be directed to support@go-summit.com. NMLS Consumer Access - Summit Mortgage Corporation/3236. Not a commitment to lend. Duke Home Loans is a division of Summit Mortgage Corporation.  Duke Clinton is licensed to originate mortgage loans in OR/WA/ID

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LOAN TYPES

Your Questions Answered

CONVENTIONAL HOME LOANS

Mortgages that conform to established guidelines for the size of the loan and specific financial situation. Conventional home loans are the most commonly used and most widely known loan type.  These home loans are often fixed-rate or adjustable-rate mortgages (ARM).

FHA HOME LOAN

FHA home loans are designed for people who want to own a home, but don't have enough saved up for a conventional loan. You might have to pay little bit more in the long run because of higher interest rates and mortgage insurance, but this can be an affordable option to buy your dream home sooner.

VA HOME LOAN

Veterans Affairs (VA) home loans are mortgages designed to offer long-term financing to eligible veterans (or surviving spouses) of the United States military.

USDA HOME LOANS

US Department of Agriculture (USDA) home loans are special loans designed for eligible properties in rural areas. These home loans provide affordable homeownership opportunities with the benefits of zero down payment and fixed interest rates.

REFINANCING HOME LOANS

Refinancing a home is a reassessment of your current home loan in order to possibly obtain a better loan term or interest rate. Refinancing your home loan is all about the bottom line: What will it cost and will it make financial sense for you?

RELOCATION

Obtaining a home loan in a different state can be a challenging process and may take a bit longer than if you were to apply for a mortgage in your home state. Summit Mortgage Corp. has the right tools and resources to help you with the relocation process.

JUMBO HOME LOANS

Loans whose amount exceed conforming loan limits set by Fannie Mae & Freddie Mac.  The conforming loan limit in the Portland/Metro Area is currently $484,350. A jumbo home loan helps qualifying home buyers purchase a high-priced or luxury home.

CONFORMING HIGH BALANCE HOME LOANS

High balance loans are conventional mortgages in which the loan amount exceeds conforming loan limits, but does not exceed loan limits for the high-cost area where the property is located. These loans are for high-cost areas like San Francisco, Los Angeles, San Diego, etc.

REMODEL & REHAB LOANS

These loans allow homeowners or home buyers to finance their home and a home renovation through a single mortgage. These programs allow homeowners or home buyers to borrow based on the home's expected value after the renovations are complete.

RESIDENTIAL INVESTMENT LOANS

Investment properties can be a great way to blend fun vacations with sound investing. Residential investment loans may be for you if you're dreaming about vacation homeownership near your favorite location or buying a second home.

REVERSE MORTGAGES

Reverse mortgages, also known as a Home Equity Conversion Mortgage (HECM), are excellent mortgage programs that allow borrowers aged 62-years and older to withdraw equity on their home.

SELF-EMPLOYED HOME LOANS

Self-employed individuals can qualify for home loans in today's tougher lending environment. We understand the entrepreneurial spirit of the Northwest and specialize in mortgage loan programs for self-employed borrowers.

ENERGYSPARK HOME LOAN PROGRAM

The EnergySpark home loan is a type of Energy Efficient Mortgage and is among the newest, greenest home loan programs from the Washington State Housing Finance Commission.

GOOD NEIGHBOR NEXT DOOR PROGRAM

The Good Neighbor Next Door program is a HUD-sponsored incentive that offers a 50% discount on the list price of eligible single family homes for law enforcement officers, pre-Kindergarten through 12th grade teachers, firefighters, and emergency medical technicians.

HOME ADVANTAGE LOAN PROGRAM

The Home Advantage loan program is available for qualified residents of WA state. Home Advantage offers below market interest rates to low- to moderate-income home buyers who meet program qualifications. This loan program also offers down payment assistance of up to 4% of the first mortgage loan amount.

HOUSE KEY OPPORTUNITY PROGRAM

House Key Opportunity is a program funded by the state of Washington and offers below market mortgage rates for a select group of first-time home buyers and is often combined with a second mortgage for down payment assistance.