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

Protect yourself with a home inspection

May 18, 2021

Protect yourself with a home inspection. When it comes to buying a home, the more you know about it, the more confident you can be in making the right decision. That’s why home inspections are a must for every buyer. Home inspections give you detailed information on the physical condition of the house and can…
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Preparing ahead for your mortgage application.

May 11, 2021

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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Renovation loans

May 3, 2021

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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Understanding Closing Costs

April 26, 2021

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?

April 19, 2021

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

April 12, 2021

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?

April 7, 2021

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?

March 31, 2021

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

March 30, 2021

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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Myth Busted – 20% Down Payment Purchases   

March 29, 2021

I bet you still think you need 20% down on your first-time purchase. Well that is just not true. There are many different programs available to all buyers with less than 20% down payment. Below is the list of programs offered to first time homebuyers. Conventional Options: The options available for Conventional vary based on…
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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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Complaint Policy

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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