Summit Mortgage Bankers, Inc. is a full service mortgage banking entity. We have been in the mortgage business since 1992 and helped thousands of customers achieve their dream of homeownership in America. We serve our customers with honesty, integrity and competence. We provide home loans to our customers with the lowest interest rates and closing costs possible.
Furthermore, we pledge to help borrowers overcome roadblocks that can arise while securing a loan. Summit Mortgage Banker, Inc strives to ensure that its services are accessible to people with disabilities.
Furthermore, we pledge to help borrowers overcome roadblocks that can arise while securing a loan. Summit Mortgage Banker, Inc strives to ensure that its services are accessible to people with disabilities.
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Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes.
Applying for a mortgage can seem like a daunting and scary process. To help, we've created a checklist of things for you to compile, complete and acknowledge before applying. Credit history is a recorded file of past and current credit that is utilized to compile a credit score. A closing cost is a payment required to finalize a home loan and is separate from a down-payment.
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan's lifetime. Adjustable-rate mortgages include interest payments which shift during the loan's term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.
It's generally a good time to refinance when mortgage rates are 2% lower than the current rate on your loan. It may be a viable option even if the interest rate difference is only 1% or less. Any reduction can trim your monthly mortgage payments. Example: Your payment, excluding taxes and insurance, would be about $770 on a $100,000 loan at 8.5%; if the rate were lowered to 7.5%, your payment would then be $700, now you're saving $70 per month.
Reviews (2)
Lixing F.
Feb 01, 2021
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I worked with Ivy Zhang on the refinancing of my home in Bay Area. I didn't know this bank initially so was a little doubtful. However, Ivy solved all my puzzles. She was extremely responsive and fast, and walked through everything together with me with great rate. I had a jumbo loan but still got the best rate I can found in the market. Also the whole process was finished in a month. I have done multiple refinancing due to the interest rate change in the market, but Ivy is the best, fastest, and most responsible banker!
Rudyalway W.
Jan 22, 2019
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The loan agents are quite nice and responsive. Shan Liu (Rachel) and Aimee helped on my case when purchasing my first home. They are very professional and productive. My case is complicate in several aspects, they managed to think ahead and helped me prepare early. When it came to the loan process, it is quite smooth. I really appreciate their help on my case and I would love to recommend her!
