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48 Meriden Rd, Suite 1, Middlefield, CT 06455
844.788.7237
info@northeast-mortgage.com

Connecticut USDA Loan

Connecticut

 Connecticut USDA Loan Program

A Connecticut USDA loan is a great mortgage option in our state.  Most noteworthy about the USDA Loan is that it allows for up to 100% financing for those that qualify.  Borrowers should also be aware that this type of mortgage loan does not allow for working farms, multi-family properties, or for the home to be income producing.

USDA loans have very attractive features for homebuyers:

  • $0 down payment. 100% purchase program for those that qualify.
  • Low monthly mortgage insurance compared to other mortgage programs such as FHA
  • This program also has limited reserve requirements
  • Finally, interest rates are comparable to FHA and VA loans.

You do have to meet a few qualifications in order to get a USDA loan:

  • The property has to be in an eligible area.
  • The program has income limits.

Connecticut USDA loans are sometimes overlooked because they are believed to be just for rural properties. Much of Connecticut is eligible for USDA loans.

If you have any questions or to see if you qualify please contact me today.

Thank You,

walsh

Patrick Walsh
Mortgage Loan Originator/NMLS 99004
860-213-1398
Patrick@northeast-mortgage.com
48 Meriden Rd Middlefield, CT 06455

Company NMLS#117273

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General Disclosure

When discussing programs that allow for 3.5% down, 0% down, or a percentage down – the borrower is not required to only put that exact percentage down. FHA, USDA, VA, CHFA, Jumbo, and Conventional Mortgages allow borrowers to put down more of a percentage if they desire to. The percentages mentioned in the information provided is the minimum down payment that these programs require. Each one of these programs have specific credit score, debt-to-income ratio, and payment history requirements to qualify for the minimum down payment.

Disclaimer

Northeast Financial is presently in the process of applying for their Mortgage Broker’s license in the state of New York.  Website authorization by the New York State Department of Financial Services is pending.  Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. If you are a New York Resident – please do not submit any information through our website.

 

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The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans arranged through third party providers. Does not make loans, issue a pre-qualification or pre-approval in the state of New York.

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