Connecticut Mortgage Company Loan Options

Northeast Financial

Hello my name is David Tortora and I am a Senior loan Officer here at North East Financial in Middletown, CT.  I would like to talk about my company today and let everyone know what we can offer to all the residents in Connecticut. Here is a list of the programs my company offers.


1. Conventional Loans

A conventional loan is a loan that is backed up by Freddie Mac or Fannie Mae. It can be a fixed rate loan or an adjustable rate loan. Fifty percent of all loans are a conventional.  These rates are typically very low and competitive – and can be used for a purchase or refinance.


2. FHA Loans

A FHA loan is a loan made by a lender and guaranteed by the Federal Housing Authority. The purpose of these loans is to help people who don’t meet the criteria of a conventional loan. These loans offer lower down payment amounts (only 3.5% down) and allow for a lower credit score then conventional mortgages.


3. Jumbo Loans

A jumbo loan is a loan that has a higher loan amount then the conventional loan limits will allow (417K and higher).


4. VA Loans

A VA loan is a loan that is eligible for veterans of this country. They offer 100% financing with very competitive rates.  There is also no PMI on Veteran Mortgages – which make them very appealing.


5. USDA Loans

A USDA loan is a loan offered on rural properties. These loans can only be used on home purchased and the property must be USDA zoned. These are great loans that do offer 100% financing with very low rates.


6. CHFA Loans

A CHFA loan is a loan offered to first time home buyers.  Rates are some lowest in the nation and if you qualify – you can get up to 100% financing.


7. Reverse Mortgages

A reverse mortgage is a mortgage offered to individuals over 62 years of age. They are designed to help people live a better quality of life by being able to use the equity in there home to afford a better lifestyle. These loans have some restrictions, but are a great option for individuals that fall within the guidelines.



As you can see we are your go to mortgage source in the State of Connecticut. We have been established since 2006 and we are fully prepared to answer all your mortgage questions and cater to all of your mortgage needs. Please call my office and I will be more then happy to explain what each program does and what best fits your needs.




IMG_0126David Tortora NMLS 88166
Company NMLS 117273
210 South Main Street
Middletown CT 06457



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