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Dias Opens New Summit Mortgage Branch In Waipio

Tony Dias at new VA Loans Hawaii and Summit Mortgage offices in Waipio.

Summit Mortgage Corporation, a national mortgage lender based in Minneapolis, has opened its first branch office on Oahu.

Tony Dias, president of VA Loans Hawaii, has been named manager of the new branch, the company’s 69th, located in Waipio Gentry. A Big Island branch was opened in December.

“About six months ago, I started looking for a direct lender who might be interested in opening on Oahu. After working for a mortgage brokerage for the past year and a half, I was eager to get back to direct lending which is where I started my career in mortgage financing,” Dias said. “There were four companies I considered before making the decision that Summit was the right choice based on both my own objectives and their company profile.

“As the president of VA Loans Hawaii, which I established three years ago, my first concern was that Summit could provide the types of loans we have been offering our veterans and their families. There are specific VA guidelines that the Department of Veterans Affairs publishes and each lender has its own overlays, which could rule out certain veterans for certain loans. For example, if a veteran has a credit score of say 625, some lenders might not approve that loan because their guidelines call for a minimum score of 660. I wanted to be sure we could maintain flexibility in serving our clients. After meeting with Summit at their home office in Minneapolis, I confirmed that they would be a perfect fit with VA Loans Hawaii.”

Dias noted that, in addition to VA home loans, Summit is a direct lender for FHA and USDA programs and conventional, fixed rate mortgages.

Summit Mortgage Corporation and VA Loans Hawaii have moved into new offices in Waipio Gentry with a total staff of nine. Located at 94-539 Puahi Street, the offices include a VA Loans Hawaii training room where Dias said he expects to begin offering his free VA Home Loan seminars starting on Saturday, February 27, at 10 a.m. with an update on VA maximum loan amounts for 2010.

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