Call: (707) 398-1523
Email: [email protected]
NMLS# 2125723
Loan Programs
Loan Programs
Find the Right Loan for Your Unique Journey
No two homebuyers are the same. Whether you're purchasing your first home, refinancing, or exploring investment opportunities, we offer a range of loan programs tailored to fit your needs, budget, and long-term goals. Explore your options below.
Construction Loans
Construction loans provide short-term financing for building a new home or major renovation. Funds are typically released in stages as construction milestones are met. Once the project is complete, borrowers can refinance into a permanent mortgage. These loans require detailed plans, a licensed builder, and strong credit.
Home Equity Loans
Home equity loans let you borrow against the equity you’ve built in your home, often as a lump sum with a fixed interest rate. They’re ideal for large expenses like home improvements, debt consolidation, or tuition. The amount you can borrow depends on your home’s current value and remaining mortgage balance. Interest may be tax-deductible when used for home renovations.
Conventional Fixed Rate Mortgages (FRM)
Fixed Rate Mortgages offer stable monthly payments with interest rates that never change over the life of the loan. They're a great option for buyers who plan to stay in their home long term and want predictable budgeting. Terms typically range from 10 to 30 years. This traditional option is often best for borrowers with strong credit and income.
Adjustable Rate Mortgages (ARM)
Adjustable Rate Mortgages start with a lower interest rate that remains fixed for an initial period (e.g., 5, 7, or 10 years), then adjusts annually based on market rates. ARMs can be ideal for buyers who plan to move or refinance before the rate changes. These loans offer initial savings but come with potential rate increases. Understanding the adjustment terms is key to choosing the right ARM.
Jumbo Loans
Jumbo loans are used to finance high-value properties that exceed conforming loan limits set by Fannie Mae and Freddie Mac. They typically require higher credit scores, larger down payments, and strong financial documentation. These loans are common in luxury real estate markets or for buyers purchasing large properties. Competitive rates are available for well-qualified borrowers.
Refinance Mortgage Loans
Refinancing allows homeowners to replace their existing mortgage with a new one—often to secure a lower rate, shorten the loan term, or tap into home equity. It can lower monthly payments or help consolidate debt. There are rate-and-term refinances and cash-out options depending on your goals. VA IRRRLs and FHA Streamlines offer simplified refinancing for eligible loans.
FHA Mortgage Loans
FHA loans are government-backed mortgages that help make homeownership more accessible, especially for first-time buyers and those with less-than-perfect credit. With down payments as low as 3.5%, FHA loans offer flexible qualification requirements. Mortgage insurance is required, but the overall accessibility makes this a popular program. Great for those with steady income but limited savings.
Reverse Mortgage Loans
Reverse mortgages are designed for homeowners aged 62 and older, allowing them to convert home equity into cash without selling their home. Payments are not required until the borrower moves out, sells the home, or passes away. This loan can supplement retirement income, cover healthcare costs, or eliminate monthly mortgage payments. It’s important to understand the long-term impact on estate planning.
VA Mortgage Loans
VA loans offer exceptional benefits to veterans, active-duty service members, and eligible surviving spouses. These include no down payment, no private mortgage insurance (PMI), and favorable interest rates. Backed by the Department of Veterans Affairs, they’re one of the best options available for those who’ve served. Buyers must obtain a Certificate of Eligibility (COE) to qualify.
Self-Employed Borrowers
Self-employed borrowers may not have traditional pay stubs but can still qualify for a mortgage using tax returns, bank statements, or profit-and-loss statements. We work with lenders who understand business owners and freelancers. With the right documentation, financing options are flexible and competitive. Preparation and expert guidance are key to approval.
Borrowers With Considerable Assets
Asset-based lending can help high-net-worth individuals qualify for a mortgage using investment accounts, retirement funds, or other liquid assets instead of income alone. These loans are ideal for retirees, investors, or those with variable income. Lenders calculate your ability to repay based on asset reserves. This approach offers flexibility without sacrificing loan terms.
Real Estate Investors
We offer a range of loan programs designed for real estate investors, including DSCR loans, fix-and-flip financing, and portfolio loans. These options make it easier to scale your rental property portfolio or fund renovation projects. Fast closings and flexible underwriting help you stay competitive in hot markets. Ideal for both first-time and experienced investors.
Foreign Buyers
Buying property in the U.S. as a non-citizen is possible through specialized foreign national loan programs. These loans often allow alternative documentation and may require larger down payments. Whether you're investing, relocating, or purchasing a second home, we guide you through each step. We also help you navigate currency conversion, visa status, and legal requirements.
Buyers With Blemished Credit Histories
Don’t let past credit challenges hold you back from owning a home. We offer programs tailored for buyers with low credit scores, past bankruptcies, or collections. Government-backed loans like FHA or VA can provide accessible pathways to approval. With time, budgeting, and the right lender, homeownership is still within reach.
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Contact Info
[email protected]
(816) 268-4025
Copyright ©2022
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Copeland Mortgage Company DBA Summit Lending | Arizona Mortgage Broker License #MB1013966NMLS #1850081 | Licensed In: AL, AZ, AR, CA, CO, FL, ID, GA, IA, KS, LA, MI, MN, MO, MT, NE, NC, OK, OR, PA, SC, TN, TX, UT, WA, WY, & VA |
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