Connecticut Alternatives to FHA Home Loans

Posted on July 8, 2015 · Posted in Connecticut First Time Mortgage

We specialize in offering multiple 3% down programs as alternatives to FHA. Many of our Conventional 97% programs are often a lower payment for your client than FHA.

 

  • Home Possible Advantage features reduced pricing adjustments, is not limited to first time buyers and has no income limits if the property is in an under-served area.
  • MyCommunity (MCM) offers your first time home buyers one of the lowest payments available with reduced Mortgage Insurance premiums and capped pricing adjustments.
  • Both MyCommunity & Home Possible allow for 100% gifted down payments.

 

Call us today to talk about how we can help you or your client get a home loan.

Thank you,

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Michael Meyer
Senior Vice President of Northeast Financial
NMLS#117875
Mike@northeast-mortgage.com
860-876-0572
210 S. Main St Middletown, CT 06457

Company NMLS#117273 

http://www.zillow.com/profile/MichaelMeyer8/

https://www.linkedin.com/company/north-east-financial

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Residential Clients: Click Here For Application

 

1% down disclosure

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

Borrower contributes 1% down, lender contributes 2% down of the loan up to $5,000.00 for the down payment, and the borrower is responsible for any difference to get the required 3% down.  The principal and interest payment of a 200K 30 year Fixed Rate Loan at 4.375% and 97% loan to value is 998.57 with 0 points due at closing.  The annual percentage rate is 4.633%.  The principal and interest payment does not include property taxes and home insurance premiums, which can result in a higher actual monthly payment.  Rates current as of 06/20/2017

 

 

3% down disclosure

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

The principal and interest payment on a 200K 30 year Fixed Rate Loan at 4.375% and 97% loan to value is 998.57 with 0 points due at closing.  The annual percentage rate is 4.433%.  The principal and interest does not include taxes and home insurance premiums, which can result in a higher actual monthly payment.  Rate current as of 06/20/2017