FHA Loans

If you have looked for a home in Connecticut before, but were discouraged by the substantial down payment requirements, FHA Mortgage Loans may be the answer for you. We at Case Financial Services can easily assist those with an interest in an FHA loan.These funding programs were designed to help home-buyers realize their dream of home ownership without a large down payment. Via an FHA loan, buyers can potentially purchase their home with a down payment as low as 3.5%, thus making it more affordable than conventional loans.

Since FHA Loans are secured by the government, Case Financial Services can help you find lenders who can offer you a loan with reduced restrictions. FHA Loans have become increasingly popular for Connecticut homeowners due to their relaxed qualifications, plus they require less money down than conventional loans.

You can qualify for an FHA Loan with credit scores as low as 500, yet certain income and credit requirements must be met to ensure buyers can make their monthly mortgage payments.

Our experienced loan officers at Case Financial Services can sit down with you and be proficient resources in the process of exploring your FHA loan options.

The average home sales price in Connecticut is currently $237,000, with several options available for you to choose from that won’t exceed the maximum loan amount. However, be advised that there are some limits on the amount you can borrow on your FHA mortgage.

The loan limits for FHA Loans in Connecticut vary by county and are as follows:

County     Loan Limit
New Haven $305,900
Middlesex     $353,050
Fairfield     $601,450
Hartford     $353,050
Tolland     $353,050
New London $280,600

 

There are some up-front costs like mortgage insurance premiums, and monthly costs like mortgage insurance that are added to the loan. Case Financial Services can properly educate you and analyze all of your options to help you make the best possible selection.

We’ve been serving the great state of Connecticut since 2000, and have helped countless home buyers find the right loan to fit their needs.

Call us today at (203) 245-7900 or fill out our quick online form to schedule a free, no obligation consultation!