| Connecticut Mortgage |
| Contact - Click Here |
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| 860-225-5731 / 712-5553 |
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| Info@MortgagesInCt.com |
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| The Myths | The Application | The Processing | The Underwriting | The Closing | |||
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Blemished credit, bankruptcy, collection accounts will prevent me from buying a home or refinancing.
Not true – We can usually finance 100% of a purchase price or appraised value with a 600 credit score and one day out of bankruptcy with no PMI. We can finance people with even lower credit scores with an LTV of 90% or lower. Alas, we cannot help everyone, but most people can qualify.
I should wait until I have saved for a 20% down payment to buy a home.
Not true. You will miss out on appreciation and the benefits of home ownership for the years it would take you to save for a down payment. Appreciation in Hartford CT County from Feb 2004 - Feb 2005 was 13.2 % according to the Hartford Board of Realtors.
It takes at least three months to get a mortgage and the application process is extremely cumbersome requiring a mountain of paper work.
Not true. We can approve you in as little as 48 hours and fund your loan within two weeks from the time we receive your application and materials. We will take your application, guide you through the mortgage process, so all you have to do is provide the information and documents, read, sign, and move in.
Closing costs seem rather high, I should just keep making my credit card payments which eventually will go away
Not true. Credit card interest rates are 16%-22% and almost always not tax deductible. Interest and closing costs on a mortgage are almost always tax deductible giving you an after tax rate on a 7% APR mortgage with a 32% tax bracket (federal and state) of 4.85%. Your payments will drop dramically. You can easily save tens of thousands of dollars by refinancing to pay off credit card debt or to get a lower rate.
Call 860-225-5731/712-5553
