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Why Do Mortgage Rates Change? Mortgages have been around for a long time. Mortgages Rates have been around for a long time as well. However, mortgage interest rates have only been recorded since 1971. Looking back at over 40 years of data, we have seen rates peak at over 18% in the early 1980’s and…
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The Steps For Getting A Mortgage First of all, I am Michael with Northeast Financial in Connecticut.  We are a mortgage company that works with borrowers all throughout the state. The following video series gives an overview of what to expect during the mortgage process from beginning to end.  This is helpful for both first…
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HUD Mortgage Program Hello, my name is Ramazan Sinani and I am a Loan Officer with Northeast Financial in Middletown, Connecticut. Our company provides mortgages throughout all of Connecticut.  Today I would like to talk about the HUD Mortgage Program and how it works. Sadly, many people face hard times and some loose their homes…
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What Type of Mortgage is Right for Me? To answer that question, you must first must decide what type of property you are purchasing to get a mortgage? Is it a: • Primary Home • Second Home • Rental Property • New Construction • Fixer upper or Flip Is the property a Single Family, Multi-Family,…
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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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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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