Northeast Financial of Connecticut is your state-wide mortgage company for all of your home loan needs. We specialize in Connecticut Land Loans and Home Construction Mortgages. Furthermore, we are able to offer you both loans in one closing.
With the FHA One Time Close you are able to finance both the land and the construction. Even more, we will work with you every step of the way. We pride ourselves on our customer service as well as our knowledge in Land and Construction underwriting. As a result, your loan will close with ease.
Some helpful information about the Mortgage:
- Minimum 620 credit score
- 3.5% down-payment
- One time appraisal, closing costs, underwriting and approval
- No payments until construction is complete!
- No requalification
- Designed for manufactured, modular, and stick-built housing
How do Connecticut Land Loans work?
- The land can be currently owned (build on own land): recently purchased or free & clear -or even with a mortgage(s)
- Land may even be gifted
- Land equity will be used as your down payment.
- Seller Concessions are allowable to maximum FHA guidelines. Therefore, if you own the land and have equity, you may be able to come to the table with no money down!
Your dream of building a home just got closer to a reality. Call me today for a free consultation so we can discuss your upcoming Connecticut Land Loan and Construction Mortgage options
Mortgage Loan Originator/NMLS 99004
210 S. Main St Middletown, CT 06457