Connecticut FHA Loans by Mortgage Loan Factors
Welcome and thank you for visiting the Mortgage Loan Factors web portal. We specialize in government mortgage loans such as FHA and VA. Our mortgage professionals will also work hard to get the lowest possible rates for conventional refinancing for Connecticut consumers.
Whether you're looking to reduce your interest rate from your existing loan, or want to buy your first home, but you have bad credit and do not have much money to use as a down-payment, Mortgage Loan Factors is the lender who puts your financial needs first.
Down Payment
Consumer like the FHA mortgage loans because the credit requirements are much more lenient than conventional and even many sub-prime lending guidelines. At this time FHA only requires 3% down payment compared to 10% or 20% deposit that most conforming lenders require.
VA home loans allow for 100% home financing, but you need to be a veteran to qualify for this zero down home loan.
|
Connecticut FHA Mortgage Loan Limits by County |
|
County |
Loan Limit |
|
FAIRFIELD |
$362,790 |
|
HARTFORD |
$333,735 |
|
LITCHFIELD |
$285,000 |
|
MIDDLESEX |
$333,735 |
|
NEW HAVEN |
$293,075 |
|
NEW LONDON |
$303,050 |
|
TOLLAND |
$333,735 |
|
WINDHAM |
$200,160 |
Question. Can FHA Secure refinance allow me to qualify even if I have late payments on my mortgage?
Answer. Yes, if your late mortgage payments occurred after your home mortgage rate adjusted, the FHA Secure makes an exception that allows you to refinance into a fixed rate loan.
Question. Does FHA have a minimum credit score for loan qualifying?
Answer. No. FHA home lending guide lines do not set forth a minimum fico requirement for purchasing or refinancing a home.
