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Health & Fitness

FHA Connecticut Mortgage Loans

Hello everyone, this is John Vecchitto, a local loan officer with North-East Financial in Middletown, CT. Not sure if your current finances will let you qualify for a mortgage? A FHA mortgage could be your solution.

Run by the Federal Housing Administration, FHA home loans were created to make it easier for home owners to qualify for a loan, whether to buy a home or refinance a mortgage. FHA home loans can benefit almost all home buyers and refinancers – first-time home buyers, military families, lower-income families and homeowners who don’t want to tie up a lot of cash in their homes.

Qualifying for a FHA loan is less difficult than other loan options. With a FHA mortgage, you can buy a home with a down payment as small as 3.5% and lower credit scores. There are also no income limits for a FHA loan, which you might find with other programs.

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With an FHA loan, you are able to use gifts (such as borrowed money or a monetary gift from a family member) towards down payments and closing costs. Additionally, there are no prepayment penalties with a FHA mortgage, allowing you to pay off your home early without having to worry about paying an extra fee.

So if your one of the thousands of people everyday thinking about purchasing a home, give me a call to go over all your options. Feel free to call or txt me on my cell which is 860-918-0251, or email me at johnv@northeast-mortgage.com.

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