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Northeast Financial’s Mortgage Loans

Posted on April 23, 2013 · Posted in Connecticut First Time Mortgage, Connecticut Mortgage Company

At Northeast Financial we offer a variety of residential Loan Programs:

VA Loans
This loan program was established by the United States Department of Veterans Affairs to help veterans and their families obtain home financing. The Department of Veterans Affairs do not directly originate VA loans; instead, they establish the rules for those who may qualify, dictate the terms of the mortgages offered and insure VA loans against default.

NorthEast Financial Group’s experienced staff of Loan Officers will guide you step by step through the process of acquiring your financing needs in a professional, easy and understandable manner.

FHA Loans
FHA loans are designed for low to moderate income borrowers who are unable to make a large down payment. FHA loans allow the borrower to borrower up to 96.5% of the value of the home. The 3.5% down payment requirement can come from a gift or a grant, which makes FHA loans popular with first-time buyers.

NorthEast Financial Group’s experienced staff of Loan Officers will guide you step by step through the process of acquiring your financing needs in a professional, easy and understandable manner.

CHFA Loans
This loan program is specifically designed for Connecticut first time buyers. The Connecticut Housing Finance Authority (CHFA) offers a special, low interest rate mortgage to make dream of homeownership more affordable to Connecticut first time homebuyers of up to 100% finacning.

NorthEast Financial Group’s experienced staff of Loan Officers will guide you step by step through the process of acquiring your financing needs in a professional, easy and understandable manner.

Rural Housing Loans (USDA)
This loan program is designed to serve rural residents who have a steady, low or modest income and yet are unable to obtain adequate housing though conventional financing. These loans enable such rural residents to acquire modestly priced housing for their own use as a residence through the purchase of a new or existing dwelling or the purchase of a new manufactured home.

NorthEast Financial Group’s experienced staff of Loan Officers will guide you step by step through the process of acquiring your financing needs in a professional, easy and understandable manner

 

Call Us Today with Any questions about our Loan Programs at 860-788-7237 or email us at info@northeast-mortgage.com

 

Company NMLS 117273

 

 

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