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Making Connecticut Your Next Home - The Best Connecticut Mortgage Rates, Resources & Information
Are you considering buying or refinancing a home in Connecticut? Or tapping into your home equity to consolidate high interest debt? If so you've found the right place.
Our information will help you learn about all types of Connecticut home loans and our helpful list of specific CT Mortgage Resources & services is specifically tailored for our state. Having some knowledge of how mortgage loans work wherever you live in Connecticut can help you select a home and keep it for years to come. Whether you're looking for a Mobile new home loan or a Birmingham mortgage refinance, it pays to do your homework.
Connecticut has a lot to offer both existing and potential residents. CNN has named it the second smartest state in America, and Connecticut has appeared on too many "best places to live" lists to count. And according to WebMD, Connecticut is one of the five healthiest states to live in. The state is also rich in history and has a wide range of outdoor activities available to natives and visitors alike. The median home price in Connecticut is $295,000, and the cost of living is 23.58% higher than the U.S. average.
Finding Your Connecticut Mortgage
While you are here, request competing quotes from our lender database of reputable Connecticut mortgage lenders by filling the form to above.
For most of us, buying a home is the largest investment we'll make in our lives, so take the time to contact different lenders and see what rate offers are available to you. Getting several competing quotes and getting the best offer can save you thousands over the course of your loan.
Connecticut homebuyers and homeowners enjoy a variety of resources that can assist first time home buyers and current homeowners. The Connecticut Housing Finance Agency (CHFA) provides home buyer assistance and mortgage loans at fixed rates through its approved lenders. In addition, CHFA provides information about community home buyer programs, FHA and other government programs,and specialized mortgage lending options including a reverse mortgage program for homeowners 62 and above.
As in other states, Connecticut residents buying or refinancing can get their best deal by shopping around and using mortgage calculators to compare offers.
Mortgage Foreclosure and Your Day in Court
Connecticut law provides two methods of foreclosing a mortgage, and both are administered through the court system. The first is called a "strict foreclosure," and is the usual way mortgage foreclosure is handled. In a strict foreclosure, everyone who has a recorded interest in the property is sued by the mortgage company. The property may be sold or a mortgage refinanced by defendants to acquire the funds for redemption.
Connecticut law also allows foreclosure through sale of the property. This method may be preferable if there is a lot of equity in the property being foreclosed. Although the property may be redeemed prior to the sale date, this is no longer an option after the sale occurs. Foreclosure law in Connecticut is complex; if you're facing foreclosure, please consult an attorney specializing in real estate law.
Mortgage Tools
Also we are here to help, so please make use of our mortgage loan calculators which include a refinance calculator, a mortgage loan rate comparison calculator, and an amortization calculator & amortization chart. There's also a mortgage calculator to tell you your monthly payments, and an affordability calculator that looks as how much you can spend, and your expenses to show you how much home you can afford.
Connecticut Home Buyer & Homeowner Mortgage Guide
- HUD Connecticut. The US Department of Housing & Urban Development's Connecticut site.
- Explanation of Connecticut Property Taxes. Property taxes for Connecticut are administered by each city and town in Connecticut based upon a mil rate on your home.
- Tax rate (estimates by State). Statewide estimate for property taxes in Connecticut
- Connecticut Housing Finance Agency (CHFA). Promotes affordable housing in Connecticut
- Home Buyer Programs. Connecticut Homebuyer Education Programs for first time homebuyers
- Home Buyer Mortgage Program. Mortgage program with the CHFA.
- Home Buyer Education Course Schedule. Schedule for homebuyer education programs.
- Emergency Mortgage Assistance Program. Information for Connecticut homeowners with adjustable rate mortgage loans (ARMs)
- Reverse Annuity Mortgage Program. Connecticut information on reverse mortgages.
- Information About Predatory Lending. Predatory lending information from the Connecting Housing Finance Agency
- Connecticut Attorney General- Consumer Fraud Information. General consumer fraud information for Connecticut residents
- Connecticut Department of Banking. Organization to protect consumers of financial services by requiring banks and other institutions comply with the law.
- Connecticut State Judicial Branch Foreclosure Information. Information and laws on foreclosure in Connecticut.
- National Foundation for Credit Counseling (links to local providers). National organization for credit counseling if you face debt or foreclosure issues.
- Veterans Administration Loan Guaranty Program. Homeowner / homebuyer loan program information for US Veterans.