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Connecticut 100% Home Purchase Mortgage Loans

100% Home Purchase Financing Options

 

Hello everyone,

 

We are Drew Raney and Michael Meyer from Northeast Financial located right in downtown Middletown, Connecticut.  We are your local mortgage resource for all of Connecticut.  Our area of specialty is the home purchase market.  We have a team of staff that here to help us underwrite and process your loan quickly (because we understand on a home purchase – time is of the essence).  We offer a variety of mortgage loan types to best fit your needs.  Here is an overview of what we offer:

 

1. CHFA Loans. This Loan program allows you to borrow up to 100% financing.  Eventhough this loan is for all Connecticut Residents – it offers special discount rates for teachers, police officers, or people buying homes in determined geographic areas.  This loan requires that you either be a first time home buyer or you have not owned a home in the last 3 years.

 

2. 100% Financing USDA Loans.  This loan program covers most areas in the state of CT.  The requirements for this loan is that the property you are buying most fall within the rural criteria set by the USDA.  Most people do not realize that the USDA covers most areas in Connecticut and has a very low PMI charge.

 

3. FHA Home Purchase.  This loan program requires you put 3.5% down and is a great resource for first time homebuyers.

 

4. NO PMI Home Loan.  This loan will not allow you to borrow 100%, but it will allow you to borrow up to 95% and pay no PMI.  The rates on this type of loan are a bit higher that conventional rates – but allows for a lower monthly payment due to the lack of the monthly PMI.

 

5. Veteran Mortgages. This Loan is for Veterans or current Military personnel and the loan allows for up to 100% financing with No PMI payments

 

Please give us a call today and we can help assist you with your home financing needs.

 

Thanks, Mike (NMLS#117875) and Drew (NMLS#117309)
860-788-7237
drew@northeast-mortgage.com
mike@northeast-mortgage.com
210 South Main St Middletown, CT
Company NMLS: 117273

 

 

FHA Disclosure

NMLS# 117273, Northeast Financial, 860-788-7237

The principal and interest payment on a 203,500 30 year FHA fixed rate loan at 3.25% on 96.5% loan to value is 1,025.99 with 0 points due at closing.  The APR is 4.491%.  Payments include a one time upfront mortgage insurance premium (MIP) at 1.75% of the base loan amount and monthly MIP is calculated at .85% of the base loan amount.  The .85% monthly MIP is required for a specific period of time regardless of your down payment or equity in your home.  The principal, mortgage insurance, and interest payment does not include property taxes or home owner’s insurance premiums, which will result in a higher actual monthly payment.  Rates current as of 6/26/17