Financing at the Summit

One of the most important factors in deciding whether or not investing in a condominium is a right for you is the available financing programs. With the negative effects of the downturned economy also come the opportunity of historically low interest rates. While there are many options for financing, we're happy to help you find out which is best for you.

• Fannie Mae/FHA Loan Programs

  A Summit Condo can qualify for Fannie Mae or FHA lending programs for most buyers. These government-backed lending programs feature some of the lowest interest rates and are some of the most attractive options for most homebuyers. These loan programs are facilitated by select mortgage companies and banks who use guidelines set by government agencies. Assuming that you want to put down at least 20% of the value of your condo and that you or a family member will occupy the unit, a Summit Condo will meet the government guidelines for most buyers. Please call us today and we can help you choose a lender who can tell you more about a Fannie Mae/FHA Loan.

• Conventional Loans

  These loans are offered by banks and typically offer rates slightly higher than FHA or Fannie Mae. Banks often hold onto these loans for the life of the loan and they can sometimes offer terms beyond what Fannie Mae or FHA will allow. Conventional Loans are a good option if your unit will be occupied by someone you are not related to, or if you need for your initial investment to be less than 20% of the value of your condo.

• Developer Financing

  If you are not able to qualify for a Fannie Mae/FHA loan or Conventional lending, we can usually make arrangements for owner financing on select units. Call us today to find out more!

• 100% Financing

  With interest rates at historically low levels, it makes sense for many buyers to finance up to 100% of their purchase. For select buyers, we can help you get up to 100% financing. Please call us or email for more information.