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Connecticut Mortgage: “No PMI” Home Loans

Northeast Financial is your Connecticut Mortgage Company.  We offer several solutions for financing your home to help you get rid of that monthly PMI payment (which can mean a huge monthly savings).

For people that believe they have 20% equity or more in their property – they would simply need to have your mortgage professional prepare your loan packet and order an appraisal.  If the appraisal comes in at under 80% Loan to Value then you can refinance and rid the PMI payments.  If you are buying a home, and have 20% to put down, then it works the same way.

Another option, if you do not have 20% or more of equity in your property (or putting down 20% on a purchase), you can apply for something called a Lender Paid PMI Loan.  The majority of lenders are going to want you to have a minimum of 5% equity in your property for this type of mortgage.  If you qualify for this type of loan, the lender will pay the monthly PMI within the rate they give you.

Please give me a call so we can discuss your options.  We offer a free consultation to all Connecticut Residents.

 

Thanks,

 

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Drew Raney/NMLS#117309
President of Northeast Financial
210 S. Main ST. Middletown, CT
drew@northeast-mortgage.com
860-788-7237

 

 

 

Company NMLS#117273 

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