Need mortgage rates? Online Pre-qualification? Know all your options?

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CONTACT: Steve Dubin, PR Works, 781-878-9533, sdubin@prworkzone.com

Need mortgage rates? Online Pre-qualification? Know all your options?
Help is just a click away at www.summitloan.com

DATELINE: BOSTON, MA, ISSUED JULY 15, 2002... Catering to the specific needs of homebuyers and real estate investors, Summit Mortgage has recently unveiled their sophisticated new Web site, summitloan.com, serving as a complete mortgage reference guide in addition to providing loan and rate information and mortgage/investment calculation tools. Rapidly expanding in the Boston area, Summit offices are located in Andover, Boston, Wakefield, and Marlborough, MA.

As a privately held mortgage brokerage firm providing residential financing to the public and real estate investors, Summit Mortgage now provides an intensive site to better facilitate the needs of consumers and investors at www.summitloan.com.

Boston Skyline
Dramatically setting the tone for Summit Mortgage, Web site visitors of summitloan.com are welcomed to the site with a chic aerial entrance to Boston's breathtaking skyline complete with classical music playing in the background.

Apply Online
Minus a stuffy lending atmosphere, the easily navigable summitloan.com offers a complete roster of what loan seekers and real estate investors need to know in just a few clicks. At summitloan.com's "Mortgage Center" page, not only may site visitors access daily loan and rate information, they may also choose to apply online with a secure online mortgage application, which greatly speeds up the loan process.

Mortgage Tools
With numerous details to think of when financing and investing, summitloan.com's "Mortgage Tools" section streamlines calculations for consumers by allowing them to go online and quickly calculate Pre-Qualification for a loan; Monthly Payment; Amortization (paying back/off the loan); and APR (Annual Percentage Rate).

Educating Consumers
Designed to walk first-time customers through the process and give seasoned loan applicants a new "spin", summitloan.com's "Mortgage Education" section details six different important mortgage aspects:

The "Glossary" defines financing terms such as Adjustable Rate Mortgage, Escrow, Equal Credit Opportunity Act, Loan-to-value Ratio and many others.

An indispensable "Five Steps for Financing Your Home" is another page that gives in-depth detail of the steps needed, such as where and how to find a lender with the best rates and service to closing the loan.

A "Mortgage Options" page gives the particulars about Conventional Mortgage Programs, Fixed Rate Conventional Mortgages and Adjustable Rate Conventional Mortgages. The "Rent vs. Own" section illuminates what potential homebuyers or renters need to think about, and the "Closing Costs/Fees Guide" gives an in-depth account of all fees associated with closing costs.

Finally, visitors can browse through the "Credit Q&A" section to gain specific information about credit ratings and credit reporting agencies.

"We wanted to create a "go to" site that facilitated loan seekers as well as real estate investors. At the site, we define the particular loan terminology used, in addition to answering some of the in-depth questions we are frequently asked on a regular basis. Everything is now at the visitor's fingertips—if they want to know about the Right of Rescission or Loan-to-Value Ratio, they can find it on our site. If they are contemplating whether to rent or buy, visitors can use our calculation tools to get an idea of what their loan payment and interest will be. We have a section that illustrates what potential first time buyers should consider before buying, and we offer an online pre-qualification application to speed the loan process, and that's naming just a few items," said Summit Mortgage president, Rick Fedele. He continued, "If visitors have a question that is not readily answered on the site, they can inquire at our contact page or telephone one of our offices--we are more than happy to assist."

PEAK OF CUSTOMER SERVICE
ABOUT SUMMIT MORTGAGE
Summit Mortgage, a mortgage brokerage firm with two locations in Boston's Back Bay and Waterfront and in Andover, Marlborough, and Wakefield, MA, offers many innovative residential financing programs for individuals and real estate investors. As a division of Pacific Guarantee Mortgage Company (PGM), the largest mortgage broker in the United States with an annual volume in excess of $15 billion, a stand-alone subsidiary of the Royal Bank of Canada, Summit Mortgage has established relationships with over 250 institutional lenders nationwide that offer an unmatched array of loan programs and superior pricing.

Complimentary brochures are available to explain mortgage terms, what to expect during the mortgage process, how to evaluate mortgage program options, etc. To obtain complimentary brochures, or for additional information on services offered by Summit Mortgage, please call 617-859-0900. Or visit www.summitloan.com.









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