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Connecticut Mortgage Options: No PMI Home Loans

Northeast Financial is your Connecticut Mortgage resource for when you are looking to refinance or get a home purchase loan.  We offer several solutions for financing your home that will help you get rid of monthly PMI payments (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 as a refinance would.

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%-10% 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 Connecticut Residents

Thanks,

 

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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