Hartford, New Britain and Middletown FHA Loans

If you are interested in moving to Hartford, New Britain or Middletown, right now is a great time to apply for an FHA loan. The Federal Housing Administration (FHA) has been around since 1934, during which time it has helped millions of Americans become first time homeowners. Today, the FHA and US Department of Housing and Urban Development (HUD) are helping more people than ever by offering really great benefits to those who apply. Here are a few of the different types of mortgages currently available through the FHA.

FHA Mortgage

If you are looking for a one to four-unit family property that requires no repairs, you’ll want to apply for a standard FHA mortgage. With this home loan you’ll be able to finance up to 96.5% of the total value of the property. You will also get to take advantage of low interest rates and won’t have to pay for private mortgage insurance (PMI). The other great benefits of this mortgage include easy approval, streamline refinancing and flexible repayment options.

203(k) Mortgage

The 203(k) mortgage was designed to help people rehabilitate old homes. With conventional loans, in order to renovate a property you would have to take out a separate loan for purchasing the house, repairing it and a third loan for the final value of the house. These all typically have high interest rates and low amortizations, making the renovation process very expensive. With a 203(k), you get all three loans rolled into one, affordable mortgage.

Energy Efficiency Mortgage

If you have a family home to buy that you would like to upgrade to be more energy efficient, then you’ll want to apply for the Energy Efficiency Mortgage (EEM). This loan rolls the cost of acquiring the house plus all upgrades into the total cost of the loan. These upgrades can include anything from installing solar panels to weatherproofing doors and windows. Be sure to check out the HUD’s website for a complete list of acceptable renovations and upgrades.

Get Started Today!

You can start the loan process today by getting pre-approved with us. Simply fill out our online form and we’ll have you pre-qualified for a new mortgage in minutes. The process is simple, free and has no obligation.

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