Connecticut Home Purchase Loan Options

Posted on October 31, 2014 · Posted in Connecticut First Time Mortgage, Connecticut Home Purchase Mortgage

Hello My name is David Tortora from Northeast Financial and today I would like to talk about the many different types of programs we offer to purchase your home.  Northeast Financial offers home loan financing to Connecticut residents.  We work with first time buyers and seasoned home buyers.  Below is an overview of the loan programs we offer:

 

Conventional Loans-

This program is for the borrower that has the higher credit score.  Some of the benefits of this program are

1.   Only 5 percent down payment

2.   No Mortgage insurance options

3.   Lowest interest rates.

 

FHA loans-

This program is meant for the borrower that is looking to put minimal down.

1.   Lower credit scores qualify

2.  Only 3.5 percent needed for a down payment

3.  Higher debt ratios which allow the borrower to buy a bigger home

 

USDA Loans-

This is a great program for the borrower who finds a home they like in a rural area. Some of the benefits are:

1.   Zero down payment

2.   30 year fixed term

3.   Minimal mortgage  insurance

4.   Financed closing costs

 

VA Loans-

This is a great program for current and former military. Some benefits of this program are:

1.   100 percent financing

2.   no mortgage insurance

3.   Very low interest rates

 

Jumbo Purchase Money Loans-

This is a great program we offer for the borrower you is looking to purchase a home over the 417,000 mark. Some benefits I can offer with this program are:

1.   Loan to Value as high as 85 percent

2.   Primary and secondary homes allowed

3.   Debt ratios as high as 49 percent

4.   740 plus credit scores

 

 

Please give me a call with any questions you may have and I will be happy to go over all these programs with you.

 

IMG_0126David Tortora NMLS 88166
Company NMLS 117273
210 South Main Street
Middletown CT 06457
tortora@northeast-mortgage.com
860-788-7237

 

 

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