Summit Mortgage has the ability to do FHA and VA loans. The borrower has to be a veteran in order to obtain a VA loan. Any one has the ability to use the FHA financing. You do not have to be a first time home buyer to get an FHA loan. FHA has monthly mortgage insurance and an upfront mortgage insurance fee.  Because you pay the upfront mortgage insurance the monthly insurance is cheaper then a conventional loans mortgage insurance. For a FHA purchase you will need at least 3.5% down. You can obtain a gift from a family member for the down payment. Call today for more details. 260-338-1888

There are 2 different ways to avoid the PMI on your loan. The first way to avoid the PMI is to pay a single premium as a part of your closing cost.  You pay a one time fee to not have PMI on the loan. The second way is to pay a one time fee but to have that fee financed into the loan amount so it doesn't cost you anything upfront. Give us a call today and talk to one of our experienced Loan Originators. 260-338-1888

You can get 100% financing with a Rural Development loan. If you are a first time homebuyer, you are required to take a homebuyers education course in order to get this type of financing. USDA RD charges a fee that can be rolled into the loan amount. The property that is being purchased can not be in the city limits. You will have to get water test completed on this property as well. These types of loans typically take about 45 days to close. This type of loan also has income limits in place. 260-338-1888 is our number if you have any questions.

Indiana Housing is a government program.  There are income limits and loan limits for the Indiana Housing program. There is a reservation fee of .125% of the loan amount. You will have to complete the home buyers education course in order to be approved for this type of a loan. For more details call us today at 260-338-1888 and ask for any one of our experienced loan officers.