Own Your First Home

First Time Homebuyer (FTHB): Complete our free Homebuyer Education Course and receive a $600.00 credit towards your closing costs. This credit is for first home purchases only and subject to qualification, credit approval and closing. The discount will be applied at the time of closing. Additional details below.
Consult a loan representative for more details.

FTHB 7/1 ARM:
Complete our free Homebuyer Education Course and receive $600.00 credit towards your closing costs. This credit is for first home purchases only and subject to qualification, credit approval and closing. The discount will be applied at the time of closing.

The 7/1 ARM interest rate is fixed for the initial seven (7) years. After the fixed period, the rate may adjust annually. At each adjustment, the interest rate may increase or decrease by a maximum of 2%. Over the life of the loan, the interest may not increase or decrease by more than 6% from the initial rate. Additional details below.
Consult a loan representative for more details.

FTHB ACCESS:
Complete our free Homebuyer Education Course and receive $1,000.00 credit towards your closing costs. This credit is for first home purchases only and subject to qualification, credit approval and closing. The discount will be applied at the time of closing.

*An additional interest rate reduction may be available for properties in low-to-moderate census tracts or eligible low-to-moderate income (LMI) borrowers, where permitted by program guidelines. Eligibility for any rate adjustment is subject to property location verification, borrower qualification, and loan program requirements.
Additional details below.  Consult a loan representative for more details.

FTHB ACCESS 7/1 ARM:
Complete our free Homebuyer Education Course and receive $1,000.00 credit towards your closing costs. This credit is for first home purchases only and subject to qualification, credit approval and closing. The discount will be applied at the time of closing.

The 7/1 ARM interest rate is fixed for the initial seven (7) years. After the fixed period, the rate may adjust annually. At each adjustment, the interest rate may increase or decrease by a maximum of 2%. Over the life of the loan, the interest may not increase or decrease by more than 6% from the initial rate.

*An additional interest rate reduction may be available for properties in low-to-moderate census tracts or eligible low-to-moderate income (LMI) borrowers, where permitted by program guidelines. Eligibility for any rate adjustment is subject to property location verification, borrower qualification, and loan program requirements.
Additional details below. Consult a loan representative for more details.

Additional details:

Maximum loan limit is $832,750.00. Interest rate reduction available. Payment example: $100,000.00 loan at 6.750% for 360 months (30 years) is a monthly payment of $648.60. Payment assumes a 20% down payment. Payment includes principal and interest. Payment will increase if taxes and/or insurance are escrowed. Properties with underground oil storage tanks are not eligible. May require flood insurance.

Loans under this program with a down payment of less than 20% may require Private Mortgage Insurance (PMI). Eligible properties must be owner-occupied one to two-family homes located in Connecticut. Minimum 3% down payment on single-family homes and 5% down on two-family homes. The application fee ranges from $689.83 to $808.94 for single family properties or $839.83 to $958.94 for two family homes; includes the cost of the appraisal and credit reports. 60-day rate commitment, any change after a commitment will result in a $400.00 fee.  Interest rates are subject to change without notice.

^PMI is automatically removed once your loan balance reaches 78% of your home’s original loan value, provided loan is current.

** Down payment assistance availability is based on program guidelines and funding availability.  Consult a loan representative for more details on programs and availability.