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Connecticut Mortgage Broker Programs

Working with a Connecticut Mortgage Broker can provide you with many more options than that of your local bank or a large out of state Mortgage Banker.  As a mortgage broker we are able to offer you comparative or better rates than that of banks or bankers.  The reason for this is that we simply have more options.

We have programs for refinancing and purchasing.   We work with first time home buyers, seasoned buyers, Veterans, rural borrowers, people seeking a reverse mortgage options, people seeking to get rid of PMI, Rehab borrowers, and people looking for a conventional mortgage.

We are able to offer mortgage loans for almost any type of borrower and property in Connecticut.  We also are able to provide free one on one consultations to discuss your options with you and we are willing to come out to you to meet in person – something your local bank and out of state mortgage companies simply can not do.  We work with you every step of the way to get you loan closed.

Here is an overview of some of our programs we offer:

1) FHA:

-600 Minimum FICO
-3.5% equity or down-payment required
-Maximum loan amount
-$417,000
-Great for low to moderate income borrowers
-Flexible guidelines on collection account, charge-offs, etc
-Rehab Options are available

2) USDA:

-620 Minimum FICO
-NO Down payment required
-Property must be in area they deem “eligible”
-There are income qualifications (call me for details)

3) VA:

– 620 Minimum FICO
-NO Down payment required
-NO Mortgage Insurance
-Must obtain Certificate of Eligibility

4) Conventional:

-620 Minimum FICO
-Max loan amount $417,000
-Minimum 3%equity or down payment
-680 FICO = 5% down, NO PMI
-Rehab options are available

5) CHFA:

-640 Minimum FICO -3.5% Down payment
-Some of the lowest rates in the nation
-660 Minimum FICO w/ Down Payment Assistance Program
-Finance closing costs without seller concessions

6) Investment Property Loans:

-660 Minimum Fico
-Stated Income Programs Available
-Three to four week closing
-Can close in a LLC or as an individual

 

As you can see, we offer many different programs.  Call us today for a free consultation at 860-788-7237 or call me directly at the number below.

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

https://www.facebook.com/pages/Northeast-Financial-Mortgage/143761005796033

 

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

 

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