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Connecticut FHA Home Mortgage Loans

FHA loans have been helping people become homeowners since 1934.   How do they do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.

  • Low down payments
  • Low closing costs
  • Easy credit qualifying

What does FHA have for you?

Buying your first home?     FHA might be just what you need. Your down payment can be as low   as 3.5% of the purchase price, and most of your closing costs and fees   can be included in the loan. Available on 1-4 unit properties.

Want a fixer-upper?     FHA has a loan that allows you to buy a home, fix it up, and   include all the costs in one loan. Or, if you own a home that you want   to re-model or repair, you can refinance what you owe and add the cost   of repairs – all in one loan.

Financial help for seniors     Are you 62 or older?  Do you live in your home?  Do you own it   outright or have a low loan balance? If you can answer “yes” to all of   these questions, then the FHA Reverse Mortgage might be right for you.    It lets you convert a portion of your equity into cash.

Want to make your home more energy efficient?     You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.

How about manufactured housing and mobile homes?     Yes, FHA has financing for mobile homes and factory-built   housing. We have two loan products – one for those who own the land that   the home is on and another for mobile homes that are – or will be –   located in mobile home parks.

Content for this overview is from the US Hud.Gov website.

Northeast Financial, located in Middletown Connecticut, provides FHA loans throughout the state of Connecticut and are here to help advise you on which program is best suited for you.  We are able to offer both FHA Purchase, FHA Refinance, and FHA Streamline options.

Please give me a call today and lets discuss your FHA options.

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 

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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