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48 Meriden Rd, Suite 1, Middlefield, CT 06455
844.788.7237

Category: Uncategorized

Is There Really a New, Unfair Mortgage Tax on Those With High Credit?

Seemingly overnight, the internet is awash with news regarding a “new,” unfair tax on mortgage borrowers with higher credit scores. Some have gone so far as to suggest that someone could intentionally lower their credit score in order to get a better deal. Before you stop paying your bills in the hope of cashing in,…
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Rates May be Falling, But Other Mortgage Costs Are Going Up

Mortgage rates have fallen quite a bit since hitting a long term peak in late October. By the middle of this week, the average 30yr fixed rate was more than 1.25% lower from the highs and at the best levels in more than 4 months. Rates have fallen due to improvement in the bond market,…
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The Real Reason Mortgage Rates Are Dropping at a Record Pace

Mortgage rates have been all over the map recently, both in terms of their movement and in their variation between lenders.  The disconnects are so big as to require a deeper explanation. Let’s quantify “big.”  Best-case-scenario rates for a conventional 30yr fixed are down about half a point from last week on average and more than…
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Fed Talking About Big Rate Hikes, But Mortgage Rates Moved Lower

It was a week for paradoxes on several fronts, most notably when mortgage rates moved lower just after the Fed floated the idea of an even bigger hike. There’s a popular misconception that the Fed sets mortgage rates, or controls them directly in some way.  They don’t. The Fed sets the Fed Funds Rate (FFR)…
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Mortgage Rates Hit 6%. World is Not Ending. May Just Be Beginning

In a year where mortgage rate volatility has been extreme, this week made everything else look tame by comparison.  While it will never show up in weekly survey numbers, the 3-day jump between last Thursday and this Tuesday was one of the biggest on record, taking the average 30yr fixed quote from 5.55% to 6.28%…
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New 2022 FHA Loan Limits

FHA LOAN LIMITS  Increased to $420,680 in 2022 Up from $356,362 in 2021 The Federal Housing Administration (FHA) just announced an increase of the FHA loan limits for 2022.The loan limit for one-unit properties will rise to $420,680 in most parts of the country, up from $356,362in 2021. Loan limits are also increasing in high-cost…
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One-Time Close Construction Loan(s)

Why choose a one-time close construction loan and what options are available to you?   A one-time close construction loan is a viable option for borrowers when they need to provide the builder with initial and interim financing for construction. This product has a single closing to save you on closing costs from having multiple…
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2 Reasons to consider shorting your mortgage term

15 vs. 30:  Two reasons some people take on a 15-year mortgage  The primary difference between a 30 year mortgage and a 15 year mortgage is simply the length of the loan. One amortizes over 30 years, the other over 15.  (Wikipedia says that an “amortizing loan is one where the principal is paid down…
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Early Access to 2022 Conventional Limits

Working with your local independent mortgage broker has its benefits.  One of which is access ground breaking products and exciting enhancements ahead of the big banks.  We are proud to announce that we are currently accepting applications for conventional loans using the new increased loan limits to be set soon for 2022.  Effective immediately Northeast…
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No Money Down Options

Navigating both low and no money down payment programs can be difficult and often confusing for new and experienced home buyers.  Here at Northeast Financial LLC we have several options available to the public. Are you a veteran that serviced for our armed forces?  If so ask us about our 100% VA Financing for both…
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