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Resources for Connecticut Realtors

Posted on February 10, 2014 · Posted in Connecticut Home Purchase Mortgage, Connecticut Mortgage Company
Hello again everyone, this is John Vecchitto, a loan officer with North-East Financial located in Middletown, CT. Since 2006 we have been helping clients all over the state navigate the mortgage process. We are known for giving you the best rate while delivering exceptional customer service. Today, I want to switch gears and speak to all the real estate agents out there. For the last 8 years, we have developed strong business relationships and, in turn, made realtors more successful. On the realtor side of business we pride ourselves with strong communication so all parties are on the same page. In addition to being a mortgage corr. lender, we are available to broker loans to other lenders giving YOUR client the best possible rate.


Here is some helpful information on some of the loans we offer:


USDA Loans:


-Minimum credit score is 620
-DTI 29% / 41%
Some income qualifications to be met
-Subject property must be in eligible area
-To find out if a property qualifies, click here.


CHFA Loans:

-Minimum credit score is 660
-DTI 31% / 43%
-Allows borrower to obtain 100% FINANCING
Competitively low interest rates
-Discounts offered for teachers, police, and the military.



-Minimum credit score 620
-DTI 31% / 43%
-Requires as little as 3.5% down
-Condo must be FHA approved
-Click here to see if subject property qualifies


NO PMI Loans:

-Can Put less than 20% down
-With NO PMI, buyer can have Lower Monthly Payments
-Every situation is different
-Can typically borrow 97% of the purchase price


Please call me today for a free consultation


johnv_picJohn Vecchitto / Loan Officer
NMLS# 1127163
210 S. Main St. First Floor
Middletown, CT 06457
860-918-0251 (Cell)
860-788-7237 (Office Phone)
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