Summit Credit Union Mortgage Rates
When it comes to securing a mortgage, finding competitive rates and flexible options is key to achieving your homeownership goals. Summit Credit Union, a trusted financial institution, offers a variety of mortgage products tailored to meet diverse borrower needs. Whether you’re a first-time homebuyer or looking to refinance, understanding Summit Credit Union mortgage rates can help you make informed decisions. In this article, we’ll dive into the specifics of mortgage rates at Summit Credit Union, including their 30-year mortgage rates and mortgage refinance rates, to provide you with a clear picture of what to expect in 2025. We’ll also include a comparison table to highlight how Summit’s offerings stack up and share insights to guide your home financing journey.
Why Choose Summit Credit Union for Your Mortgage?
Summit Credit Union stands out as Wisconsin’s #1 mortgage lender, known for its member-focused approach and competitive rates. With a commitment to personalized service, Summit offers a range of mortgage options, including fixed-rate, adjustable-rate (ARM), and refinance loans, designed to suit different financial situations. Their rates are often lower than the national average, and they provide benefits like low or no closing costs for certain products. Additionally, Summit’s mortgage experts are available to guide you through the process, ensuring you find the best loan for your needs. Let’s explore the specifics of Summit Credit Union mortgage rates to see why they’re a top choice for borrowers.
Current Summit Credit Union Mortgage Rates
As of August 18, 2025, Summit Credit Union mortgage rates are competitive and reflect a discount for electronic payments and an established Summit checking account. Below are the current rates for some of their most popular mortgage products, based on a $235,000 loan for a primary residence in Dane County, WI, with a 75% loan-to-value A solid loan-to-value (LTV) ratio, a strong 740 credit score, and a debt-to-income (DTI) comfortably sitting under 40%—that’s the kind of financial profile lenders love to see.”
- 30-Year Fixed Mortgage: 6.500% Rate, 6.603% APR
- 20-Year Fixed Mortgage: 6.000% Rate, 6.130% APR
- 15-Year Fixed Mortgage: 5.750% Rate, 5.852% APR
- 10-Year Fixed Mortgage: 5.500% Rate, 5.641% APR
- 15/15 ARM: 7.000% Rate, 6.658% APR
- 10/1 ARM: 6.750% Rate, 6.741% APR
- 7/1 ARM: 6.375% Rate, 6.591% APR
- 5/1 ARM: 6.000% Rate, 6.519% APR
- 3/1 ARM: 5.625% Rate, 6.525% APR
Rates may vary depending on your credit profile, loan-to-value ratio, and a few other key factors.For the most accurate and up-to-date rates, it’s best to contact Summit directly or check their official website.
Summit Credit Union 30-Year Mortgage Rates
The Summit Credit Union 30-year mortgage rates are particularly popular among borrowers seeking predictable payments over a long term. As noted, the current rate for a 30-year fixed mortgage is 6.500%, with an APR of 6.603%. This option is ideal for those who plan to stay in their home for an extended period and prefer the stability of fixed monthly payments. Compared to the national average 30-year fixed mortgage rate of 7.04% as of December 31, 2024, Summit’s rate is notably competitive, potentially saving borrowers thousands over the life of the loan.
For example, on a $235,000 loan, a 6.500% rate translates to a monthly payment of approximately $1,484 (excluding taxes and insurance). This affordability makes it an attractive choice for first-time homebuyers or those with long-term homeownership goals.
Summit Credit Union Mortgage Refinance Rates
For homeowners looking to lower their monthly payments or tap into their home’s equity, Summit Credit Union mortgage refinance rates offer compelling options. Summit provides both traditional and express refinance programs, with terms ranging from 8 to 30 years. Here are the current refinance rates as of August 18, 2025:
- 8-Year Fixed Express Refinance: 5.750% APR, $13.02 monthly payment per $1,000
- 12-Year Fixed Express Refinance: 6.000% APR, $9.76 monthly payment per $1,000
- 20-Year Fixed Express Refinance: 6.625% APR, $7.53 monthly payment per $1,000
- 15-Year Fixed Traditional Refinance: 5.750% Rate, 5.852% APR
- 30-Year Fixed Traditional Refinance: 6.500% Rate, 6.603% APR
- 15/15 ARM Traditional Refinance: 7.000% Rate, 6.658% APR
The express refinance option is designed for those seeking shorter terms to pay off their mortgage faster, with the added benefit of no or low closing costs. Traditional refinance options, like the 30-year fixed, offer stability for those prioritizing predictable payments. Summit also offers cash-out refinance options, allowing borrowers to access home equity for other financial goals, such as debt consolidation or home improvements.
Comparison Table: Summit Credit Union vs. National Averages
To help you evaluate Summit Credit Union mortgage rates and mortgage refinance rates, here’s a comparison table highlighting key mortgage products against national averages (as of late 2024):
| Loan Type | Summit Credit Union Rate/APR | National Average Rate/APR | Notes |
| 30-Year Fixed Mortgage | 6.500% / 6.603% | 7.04% / ~7.15% | Summit’s rate is lower, ideal for long-term stability. |
| 15-Year Fixed Mortgage | 5.750% / 5.852% | 6.39% / ~6.50% | Summit offers savings for shorter-term loans. |
| 5/1 ARM | 6.000% / 6.519% | 6.60% / ~6.75% | Summit’s ARM is competitive for short-term affordability. |
| 8-Year Fixed Refinance | 5.750% APR | Not widely available | Unique express option with low closing costs. |
| 30-Year Fixed Refinance | 6.500% / 6.603% | 7.04% / ~7.15% | Summit’s refinance rate aligns with purchase rates, offering consistency. |
Note: National averages are based on industry data from late 2024. Your actual rate may differ depending on your credit score, loan-to-value ratio, and a few other key factors. Always request a personalized quote for accuracy.
Benefits of Choosing Summit Credit Union
- Competitive Rates: Summit’s mortgage rates and refinance rates are often below national averages, helping you save on interest.
- Low or No Closing Costs: Express refinance and certain HELOC options come with minimal or no closing costs, reducing upfront expenses.
- Flexible Options: From 3/1 ARMs to 30-year fixed mortgages, Summit caters to various financial needs.
- Personalized Service: With over 40 mortgage loan officers, Summit provides tailored guidance, including evening and weekend appointments.
- Member Benefits: Rates reflect discounts for electronic payments and an established Summit checking account, adding value for members.
Factors Affecting Summit Credit Union Mortgage Rates
The mortgage and refinance rates you’ll get at Summit Credit Union aren’t set in stone—they depend on a mix of personal and financial factors that shape your overall eligibility.
- With a credit score of 740 or above, you’re usually in line for the most competitive rates lenders can offer.
- Loan-to-Value (LTV) Ratio: Lower LTV ratios (e.g., 75%) often result in lower rates.
- Debt-to-Income (DTI) Ratio: A DTI below 40% is ideal for favorable rates.
- Loan Amount and Term: Shorter repayment periods—say a 10-year fixed mortgage—often come with lower interest rates compared to the traditional 30-year option. While the monthly payments may feel heavier, the overall interest you’ll pay across the life of the loan is usually much less..
- Market Conditions: Rates fluctuate based on economic factors, so locking in a rate at the right time is crucial.
What’s the Process for Getting a Mortgage with Summit Credit Union?
Applying for a mortgage with Summit is straightforward:
- Check Rates: Visit Summit’s website or call 800-236-5560 to review current mortgage rates at Summit Credit Union.
- Get Preapproved: Obtain a free preapproval in under 15 minutes to understand your borrowing power.
- Choose a Loan Type: Select from fixed-rate, ARM, or refinance options based on your goals.
- Submit Application: Apply online or meet with a mortgage loan officer for personalized assistance.
- Seal the deal quickly with Summit—where speedy approvals meet pocket-friendly closing costs.
Tips for Securing the Best Mortgage Rates
- Improve Your Credit Score: Pay down debt and avoid late payments to boost your score.
- Compare Options: Use Summit’s refinance calculator or mortgage toolbox to evaluate savings.
- Lock in Rates Early: With rates subject to change, locking in a competitive rate can protect you from future increases.
- Consider Shorter Terms: Opt for a 10- or 15-year mortgage for lower rates if your budget allows.
- Leverage Member Benefits: Set up electronic payments and a Summit checking account to qualify for rate discounts.
To sum it up
Summit Credit Union mortgage rates and mortgage refinance rates offer a compelling option for borrowers in 2025, with competitive rates, flexible terms, and member-focused benefits. Whether you’re eyeing a 30-year mortgage for long-term stability or an express refinance to pay off your loan faster, Summit provides tailored solutions to fit your needs. By understanding their offerings, comparing rates, and leveraging their tools, you can confidently navigate the home financing process. Ready to take the next step? Contact Summit Credit Union or visit their website to explore your options and secure the best mortgage rates at Summit Credit Union for your financial future.
FQA
What are the current Summit Credit Union mortgage rates in 2025?
Summit Credit Union’s 30-year fixed mortgage rate is 6.500% with a 6.603% APR, which is lower than the national average. Rates vary depending on credit score, LTV ratio, and other factors.
Does Summit Credit Union offer refinance options?
Yes, Summit provides both express and traditional refinance options, with terms ranging from 8 to 30 years. Express refinance often comes with low or no closing costs.
How do Summit Credit Union mortgage rates compare to national averages?
Summit’s rates are generally more competitive, with lower APRs on popular products like the 30-year and 15-year fixed mortgages.
What’s the advantage of the 30-year mortgage at Summit Credit Union?
It offers predictable monthly payments, long-term stability, and often comes at a lower rate compared to national lenders—ideal for first-time buyers and long-term homeowners.
What factors affect my mortgage rate at Summit Credit Union?
Your credit score, debt-to-income ratio, loan-to-value ratio, loan term, and market conditions all influence the rate you qualify for.
