Home Loans
A mortgage priced for members, not shareholders
Our 30-year fixed sits at 6.375% APR with no lender origination fee, underwritten by people who work in the same towns you are buying in.
Why members finance with Summit
Four things that change what you actually pay, not four things that sound good in an ad.
No lender origination fee
On a $350,000 loan, a typical 1% origination fee is $3,500. We do not charge one, so that money stays in your closing budget.
Local underwriting
Your file is reviewed in-house, not shipped to a national processing center. If something about your income needs explaining, you can explain it to the person deciding.
90-day rate lock
Lock your rate for 90 days at no cost while you shop. If rates fall before you close, you may relock once at the lower rate.
Terms that actually differ
Fixed terms from 10 to 30 years and two adjustable options, so you can trade payment size against interest paid deliberately.
Purchase rates and terms
Sample rates for a single-family primary residence with 20% down and strong credit.
Rates current as of July 2026 and subject to change. Membership eligibility required. This is a demonstration website; rates, products, and figures shown are illustrative only.
Fixed or adjustable
Choosing between a fixed rate and an ARM
A 30-year fixed never changes, which is why most members choose it. But if you have a clear reason to expect a move or a payoff inside seven years, an adjustable rate can be the cheaper honest answer.
From application to keys
Most Summit purchase loans close in 28 to 32 days from a complete application.
Get pre-approved
We verify income, assets, and credit up front and issue a letter good for 90 days. Sellers treat it as seriously as cash because the underwriting is already done.
Find the house and lock
Once your offer is accepted, lock your rate for 90 days at no cost. Your loan officer confirms the lock in writing the same day.
Appraisal and underwriting
We order the appraisal and finish the file in-house. Expect two to three weeks, and expect to hear from a person rather than a portal.
Close and move in
You receive your closing disclosure three business days ahead so there are no surprises at the table. Sign, fund, and the keys are yours.
Common questions
How much do I need for a down payment?
Twenty percent avoids private mortgage insurance, but we write conventional purchase loans with as little as 3% down. Our First-Time Buyer Program can supply up to $7,500 toward that amount.
What does the 90-day rate lock cost?
Nothing. Many lenders charge for locks beyond 30 or 45 days; ours is included. If market rates drop by 0.25% or more before closing, you may relock once at the lower rate.
If there is no origination fee, what do I still pay at closing?
Third-party costs that are not ours to waive: appraisal, title work, recording fees, and prepaid taxes and insurance. On a typical $350,000 purchase those run about $4,500 to $6,000.
What credit score do I need?
Our conventional purchase loans generally start at a 620 score, and the best pricing shows up around 740. Because we underwrite locally, a thin file with strong reserves gets read by a human rather than rejected by a rule.
Will Summit sell my loan?
We retain servicing on the large majority of the mortgages we originate, so you keep paying Summit and calling Summit. If a loan is ever sold, servicing stays with us.
Can I buy a second home or an investment property?
Yes. Second homes price about 0.25% above primary residence rates and investment properties about 0.75% above, with a 20% minimum down payment on second homes and 25% on rentals.
Start with a real pre-approval
Fifteen minutes online gets you a letter that sellers respect, and it costs nothing whether or not you use us.