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48 Meriden Rd, Suite 1, Middlefield, CT 06455

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Preparing ahead for your mortgage application.

Get your income information sorted. • Gather at least two paystubs and two years of your W-2s and federal tax returns, including all schedules. It is ideal to be at your current employer for at least two years. • Ask your loan advisor about additional documentation requirements if you are self-employed. • Contact your loan…
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My loan application is in underwriting, what happens now?

This is the final stage of the process before you close. The mortgage underwriter reviews everything and issues an “Approval with Conditions”.  They issue a list for your loan officer to help obtain any additional documentation. During this time, once all conditions from the underwriter are met, you will be able to officially schedule your…
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Renovation loans

Renovation loans are a great choice for borrowers because they only have to deal with one single loan to cover both the purchase price and the renovations. This means only one payment with lower interest rates. There are several loan options to choose from if you decide to buy a home that is in need…
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What is the mortgage process when buying a home?

Many home buyers are new to the process of buying a home and we put together a guide of what to expect when applying for a mortgage.   Do I need a pre-approval? A pre-approval is the first step when buying a home. You may find a home online that you would like to view,…
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Understanding Closing Costs

Loan estimate documents are issued within three days of receiving your mortgage loan application. In them, you’ll find all the costs associated with your particular loan. Some of these costs may change before you close on your loan, while others are set unless you’re provided a revised document. Let’s take a look at the three…
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Mortgage Statement: What Am I Really Paying For?

Individuals who are not so savvy to homeownership may face some confusion when paying their first couple mortgage statements.  They first may be skeptical about why their statement not being serviced by the same financial institution that they signed so many documents with.  Well… that’s not so abnormal.  The truth is, most mortgages are sold…
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6 Reasons to Refinance

Here are a few reasons to refinance now: 1. Lower your monthly payment by refinancing to a lower rate or by extending your loan. 2. Convert an adjustable-rate mortgage to a fixed-rate mortgage and lock in a guaranteed rate that will never increase. 3. Get cash with a cash-out refinance that lets you access the…
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Ready to become a homeowner?

Here are a few important things to consider when making this major life decision: Understand your finances. • Talk to a professional loan advisor about your assets, debts, and credit history to see if you prequalify for a mortgage. Get your paperwork in line. • Your lender will require a lot of personal information to…
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SELLER CONCESSIONS : WHAT ARE THEY AND SHOULD YOU ASK FOR THEM WHEN PURCHASING A HOME?

SELLER CONCESSIONS WHAT ARE THEY AND SHOULD YOU ASK FOR THEM WHEN PURCHASING A HOME? The whole mortgage process can have many components.  I’m going to address the closing costs area first.  Closing costs are fees associated with your home purchase that are paid at the transfer of the property from seller to buyer.  Some…
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Important loan documentation tips

To determine whether a borrower is credit worthy, lenders require borrowers to provide past and present financial documentation.   The format of the documentation being submitted must be exact, providing evidence of the ability to repay your loan.  Here are some things to know when preparing documentation to for a home loan. Core Documents for Preapproval…
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