| Connecticut Mortgage |
| Contact - Click Here |
 |
| 860-225-5731 / 712-5553 |
| Email : |
| Info@MortgagesInCt.com |
|
|
|
|
|
|
|
|
Mortgages for Less Than Perfect Credit
We look at more than just your credit score to find you the best mortgage in Connecticut for your individual situation and needs. Not everyone has great credit but there is no reason that you cant get a mortgage to buy a home, refinance and pay off credit card debt, build a home, or get a lower rate on an existing loan. 100% financing, high qualifying ratios (to 55%), one day out of bankruptcy, low credit, bad credit, or no credit are no longer insurmountable obstacles, enabling you to own a home, get out of debt, and enjoy your life.
Mortgages with Easy Terms - Qualifying ratios to 55% - OK. 100% mortgage financing with one day out of bankruptcy - OK. Challenged credit - OK. No credit score mortgages - OK. Use social security, disability, or pension income (usually 125% of gross). No income or asset verification mortgages. LTV to above 100%.
Mortgages for Refinancing Save many, many thousands of dollars on interest payments by refinancing to a lower rate mortgage. Pay off high interest non tax deductible credit card debt. Take cash out for what ever reason. Even if your credit is not that great you can still save lots money.
Mortgages for Buying a Home Usually the single best investment that you can make. 100% financing. Seller concessions to 6%. Purchase with very very little out of pocket. No PMI. If you can afford rent, you can usually afford to own your own home. One four units.
Mortgages for Building a Home Construction loans with no payments during building phase. Up to one year to build. Converts to a permanent mortgage. Use land as a down payment. Challenged credit OK.
Mortgages for Investors Real estate investors can purchase or refinance with 10% down. Get cash flow and appreciation with little down payment. One four units.
Mortgages for Rehabbing a Property amount based upon completed value of the project
Why a mortgage?
Tax Advantages Considering a $200,000 mortgage, with borrowers in the 29% tax bracket, with a before tax APR of 7.744% - the after tax APR would be 5.576%. Contrast this to credit card debt, the interest of which is not tax deductible with interest rates averaging around 19%.
Home Ownership Usually the best investment that you can make. You do not need to save for a big down payment or be denied because of a challenged credit history. After making your mortgage payments for a couple of years, you can usually refinance at excellent rates and terms. Paying a mortgage significantly increases your credit score. If you can afford to pay rent, you can usually afford to own your own home. Owning is many times cheaper than renting.
Pay Off Credit Card Debt - IF you make only an absolute minimum payment of 2% of the remaining balance per month, with an interest rate of 17% : The following EXAMPLE would apply :
Balance
Total Cost
Total Time to Repay
$1,000
$2,590.35
17 years & 3 months
$2,500
$7,733.49
30 years & 3 months
$5,000
$16,305.34
40 years & 2 months
These numbers will change if your interest rate is different, or if you make more than the minimum payment. If you make new credit card purchases or incur fees such as late fees, over-limit fees, or cash advance fees, it could take even longer and cost even more to repay a credit card balance.
