Investment Property Purchase Loans Northeast Financial is your Connecticut resource for purchasing investment property in our State. We offer two great programs that assist investors with getting their loans closed. Residential Property Investment Loans: Non owner occupied investment properties have to be from 1-4 units (condos as well). Generally you will need to put 25%…
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Self Employed Mortgage Loans Several years ago it was very easy for people that were self employed to obtain a mortgage. If the borrower showed a strong annual income and assets then getting a conventional or FHA loan was relatively easy. Also several years ago there were programs that really catered to self employed mortgage loans. This…
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No Money Down Mortgage First of all, no money down mortgage options do exist. You may be surprised to learn that you may qualify to purchase a new home with little or no money down. At North East Financial, there are many different options available for 100 % financing or little money down. 100%…
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USDA Mortgages: Their History and How They Work The Goal of the USDA Mortgage Program is to “Help improve the economic and quality of life in rural America.” They do this through loans, grants and guarantees. They promote economic development by offering loans to business and homeowners. The USDA has a portfolio of $216…
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Northeast Financial of Connecticut offers Stated Commercial Mortgage options. Whether you are looking to purchase or refinance we are here to help. In addition, we cover all of New England, New York, and the surrounding states. Furthermore, we pride ourselves on great customer services and will work with you every step of the way. Below…
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FHA Home Mortgage Program The FHA Home Mortgage program has been around for some time. The Great Depression caused many to lose their jobs. As a result, they were unable to pay their mortgages payments and then banks were forced to foreclose on these properties. In 1934, the National Housing Act created the Federal Housing…
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Connecticut Veteran Mortgage Program Are You A Connecticut Veteran? Do you know what the benefits are and steps that need to be taken in order to get a Veteran Mortgage (also known as a VA Loan)? If you have chosen to bravely protect our country, there is a tremendous opportunity for you to take…
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Reverse Mortgage History I think many would be surprised to find out that the first reverse mortgage (also known as an HECM) was done over 50 years ago. The first reverse mortgages were originated in Portland Maine. A local banker came up with the idea that allowed the widow of his high school football…
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Differences between a Conventional and an FHA Home Loan The two most common types of mortgage options today are conventional loans and FHA mortgages. These programs are both used for either purchasing or refinancing a home. Conventional and an FHA home loan have a few differences. These differences are mostly based on the criteria required…
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Why do I have a low credit score? First of all, many potential home buyers find themselves with low credit scores. Unfortunately, it can be overwhelming to some to begin working on improving their score. The first place to start is to know exactly where you stand. You need to have a complete credit report.…
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