Summit Funding Advisors

Breaking News: The Fed Lowers Rates! What Does This Mean for Mortgage Rates? There's often confusion about how the Fed's rate decisions affect mortgage rates, so let's break it down: 🔸Fed and Mortgage Rates Misconception: The Fed doesn’t directly set mortgage rates; instead, it controls the short-term Fed Funds Rate, which influences overnight bank lending rates. 🔸Fed Funds Rate: This rate affects loans between big banks that last less than 24 hours and is set within a 0.25% margin. 🔸Mortgage Rates: These are typically tied to long-term loans (3-10 years) and dictated by the bond market—not the Fed’s short-term rate. 🔸Prime Rate Exception: Some lines of credit tied to the Prime Rate may adjust with Fed rate hikes, but this has minimal impact on 30-year fixed mortgages. 🔸Fed’s Influence: While the Fed doesn’t directly set mortgage rates, its policies (like Quantitative Easing) can significantly affect long-term interest rates. 🔸Timing and Market Expectations: The bond market often reacts in advance of Fed announcements, causing mortgage rates to adjust before official rate changes. 🔸Market Reaction: Interestingly, mortgage rates may move opposite to the Fed's actual rate change, as markets price in future expectations based on speeches and data. Have questions about how this impacts your mortgage options? Reach out, and let's talk! 🏡 Contact Us by Email: https://lnkd.in/eYu3VJVT - Or - Call Us: 404-835-6500 #MortgageRates #FedRateCut #HomeLoans #SummitFundingAdvisors Summit Funding Advisors, LLC 2675 Paces Ferry Rd SE Suite 320 Atlanta, Georgia 30339 Summit Funding Advisors LLC NLMS #947748 GA Lender License #35285 FL Lender License #MLD2429 SC Lender License #947748 TN Lender License #947748

🚨 Exciting Update for FHA Homebuyers! 🚨 Great news! FHA has updated its guidelines, making it even easier for buyers using gift funds to purchase their dream home. 🎁 ✨ What’s New? Donors are no longer required to provide a copy of their bank statement when gifting funds for an FHA mortgage transaction! This change streamlines the process, saves time, and reduces paperwork—because buying a home should be simple and stress-free. 🏡 If you’ve been thinking about homeownership and have loved ones ready to help with gift funds, now is the perfect time to explore your options! 💬 Ready to learn more? Let’s chat and make your dream of homeownership a reality. Contact Us by Email: https://lnkd.in/eYu3VJVT - Or - Call Us: 404-835-6500 #FHALoans #MortgageTips #GiftFunds #HomeownershipMadeEasy #MortgageLender #DreamHomeGoals Summit Funding Advisors, LLC 2675 Paces Ferry Rd SE Suite 320 Atlanta, Georgia 30339 Summit Funding Advisors LLC NLMS #947748 GA Lender License #35285 FL Lender License #MLD2429 SC Lender License #947748 TN Lender License #947748

🎉 Exciting News for Atlanta Homebuyers and Homeowners! 🏠 The 2025 FHA and Conforming Loan Limits are here, bringing more opportunities to achieve your homeownership dreams! 🌟 For the Atlanta area, the new limits are: 📌 FHA Loans: • Up to $688,850 📌 Conforming Loans (backed by Fannie Mae & Freddie Mac): • Single-family homes: $806,500 What does this mean for you? ✅ More Buying Power: You can finance higher-priced homes with lower down payments and favorable terms. ✅ Expanded Opportunities: Easier qualification for borrowers with FHA or conventional loans. ✅ Lower Rates: Take advantage of competitive interest rates and updated loan programs! Atlanta's real estate market is thriving—now's the time to make your move. Whether you're a first-time buyer or ready to refinance, let's chat about how these new limits can help you! 💼 📞 Contact us today to get started. Together, we'll find the perfect loan for your dream home! Contact Us by Email: https://lnkd.in/eYu3VJVT - Or - Call Us: 404-835-6500 #MortgageNews #HomeownershipGoals #AtlantaRealEstate #FHALoans #ConformingLoans #DreamHome Summit Funding Advisors, LLC 2675 Paces Ferry Rd SE Suite 320 Atlanta, Georgia 30339 Summit Funding Advisors LLC NLMS #947748 GA Lender License #35285 FL Lender License #MLD2429 SC Lender License #947748 TN Lender License #947748

🎄🏡 There’s Still Time to Get Your Dream Home for the Holidays! 🎁✨ Imagine celebrating the holidays in your dream home – the cozy fireplace, a tree by the window, and space for family gatherings. It’s not too late to make it happen! Our team at Summit Funding Advisors is here to help you navigate the mortgage process quickly and easily so you can move in just in time to deck the halls. 🎅🎄 📞 Let’s get started today! Reach out to us to explore your options and make this holiday season unforgettable. Contact Us by Email: https://lnkd.in/gChuVCeD - Or - Call Us: 404-835-6500 #HomeForTheHolidays #MortgageMadeSimple #DreamHomeGoals #SummitFundingAdvisors Summit Funding Advisors, LLC 2675 Paces Ferry Rd SE Suite 320 Atlanta, Georgia 30339 Summit Funding Advisors LLC NLMS #947748 GA Lender License #35285 FL Lender License #MLD2429 SC Lender License #947748 TN Lender License #947748

🍂🦃 Happy Thanksgiving from Summit Funding Advisors! 🏡💛 This season, we’re grateful for our amazing clients, partners, and team who make the dream of homeownership possible. Your trust means the world to us! Wishing you a day filled with love, laughter, and plenty of pie! 🥧🍁 #Thanksgiving #Gratitude #HomeSweetHome #SummitFundingAdvisors Summit Funding Advisors, LLC 2675 Paces Ferry Rd SE Suite 320 Atlanta, Georgia 30339 Summit Funding Advisors LLC NLMS #947748 GA Lender License #35285 FL Lender License #MLD2429 SC Lender License #947748 TN Lender License #947748

Temporary vs. Permanent Buydowns: What’s the Difference? 🏠💡 If you're considering lowering your interest rate to make your dream home more affordable, you may have heard of buydowns. But what’s the difference between temporary and permanent buydowns? Let’s break it down: While both options involve lowering your interest rate, temporary and permanent buydowns have key differences: * Reduction Amount: Temporary buydowns offer a more significant initial reduction (up to 3%) compared to permanent buydowns (typically 0.125% – 0.5%). * Loan Structure: Temporary buydown funds are held in an escrow account and used to supplement your monthly payments. In a permanent buydown, the lender reduces the actual interest rate on the loan. * Buyer Qualification: For a temporary buydown, you need to qualify for the full loan amount and original interest rate even though you’ll pay lower rates initially. Conversely, you only need to qualify for the reduced interest rate with a permanent buydown 💡 Which is right for you?
It depends on your goals, financial situation, and how long you plan to stay in your home. Our team at Summit Funding Advisors can walk you through the numbers to find the perfect fit for your budget and lifestyle! 📞 Ready to explore your options? Let’s chat! Contact Us by Email: https://lnkd.in/gChuVCeD - Or - Call Us: 404-835-6500 #MortgageTips #BuydownOptions #HomeOwnership #SummitFundingAdvisors Summit Funding Advisors, LLC 2675 Paces Ferry Rd SE Suite 320 Atlanta, Georgia 30339 Summit Funding Advisors LLC NLMS #947748 GA Lender License #35285 FL Lender License #MLD2429 SC Lender License #947748 TN Lender License #947748

Here is the breakdown of how your FICO score is based: • Payment history: 35% of your FICO score is based on your payment history. This includes whether you've paid your bills and other obligations on time. • Amounts owed: 30% of your FICO score is based on the amount you owe. • Length of credit history: 15% of your FICO score is based on how long you've had credit. • New credit accounts: 10% of your FICO score is based on how many new credit accounts you've opened. • Types of credit used: 10% of your FICO score is based on the types of credit you have, such as credit cards, mortgages, and car loans. These are ways to help maintain a good credit score: 1. Pay Bills on Time - Late payments can negatively impact your credit score. Always pay at least the minimum due by the due date. 2. Keep Credit Utilization Low - Aim to use no more than 33% of your available credit limit. Lower utilization rates are better for your score. 3. Avoid Opening Too Many Accounts Quickly - Opening multiple credit accounts in a short period can make you appear risky to lenders. 4. Maintain Older Credit Accounts - The age of your credit accounts contributes to your score. Avoid closing old accounts unless necessary. 5. Diversify Credit Types - Having a mix of credit types, like installment loans (e.g., mortgages) and revolving credit (e.g., credit cards), can positively impact your score. Please reach out to any of your Summit Funding Advisor Team. We can do a quick Pre approval and credit check for a potential buyer(s) which will be valid for 120 days. We’re here for you! Contact Us by Email: https://lnkd.in/gChuVCeD - Or - Call Us: 404-835-6500 #CreditTips #FinancialHealth #HomeBuyingJourney Summit Funding Advisors, LLC 2675 Paces Ferry Rd SE Suite 320 Atlanta, Georgia 30339 Summit Funding Advisors LLC NLMS #947748 GA Lender License #35285 FL Lender License #MLD2429 SC Lender License #947748 TN Lender License #947748

Contact Us by Email: https://lnkd.in/gChuVCeD - Or - Call Us: 404-835-6500 #GrowthMindset #KeepClimbing Summit Funding Advisors, LLC 2675 Paces Ferry Rd SE Suite 320 Atlanta, Georgia 30339 Summit Funding Advisors LLC NLMS #947748 GA Lender License #35285 FL Lender License #MLD2429 SC Lender License #947748 TN Lender License #947748

To those in uniform serving today and to those who have served in the past, we honor you today and every day. Happy Veterans Day! At Summit Funding Advisors, we proudly offer VA Loans designed to help you achieve homeownership with benefits like no down payment, competitive rates, and flexible credit requirements. It’s our way of giving back to those who’ve given so much. Thank you for your service! #VeteransDay #VALoans #SummitFundingAdvisors #ThankYouVeterans" Contact Us by Email: https://lnkd.in/gChuVCeD - Or - Call Us: 404-835-6500 Summit Funding Advisors, LLC 2675 Paces Ferry Rd SE Suite 320 Atlanta, Georgia 30339 Summit Funding Advisors LLC NLMS #947748 GA Lender License #35285 FL Lender License #MLD2429 SC Lender License #947748 TN Lender License #947748

🌟 𝗕𝗥𝗘𝗔𝗞𝗜𝗡𝗚 𝗡𝗘𝗪𝗦 🌟 🏡 Homeownership Dreams Fulfilled! 🏡 🎉 We're thrilled to share a heartwarming testimonial from a recent transaction. 🌈 A huge shoutout to our incredible loan officer, Glenda Adams, who went above and beyond to make dreams come true. 🚀 🗣 "If you are looking for an outstanding loan officer, look no further than Glenda Adams. As a Realtor in a transaction, you count on the team you put in place to close the transaction, such as the closing attorney, repairmen, home inspector, and most importantly, the lender. I recently had a situation where the lender the buyer chose was a well-known bank, and they did not perform in a timely manner. With much concern, and 12 days before the transaction was scheduled to close escrow, we contacted Glenda Adams with Summit Funding Advisors. What a ROCK STAR! Glenda made it happen in record time with little to no stress for the buyers. She was even able to get them a better rate than what they were going to have from the bank! It was unbelievable that within 8 days, the loan was fully approved. We were able to have a successful closing due to the hard work, persistence, and dedication from Glenda and her team at Summit Funding Advisors. If you are looking for an outstanding lender, Glenda and the Summit Funding Advisors team will give you exceptional service. Thank you, Glenda! You saved the day for us!” - R.M. 🌟 At Summit Funding, we're dedicated to turning dreams into reality, one home at a time. 🏡 ✨ Thank you for choosing us for your homeownership journey. 🙌 #CustomerTestimonial #ExceptionalService #RockStarLender Co. NMLS# 947748