First Time Home Buyer in CT? We Are Here to Help
Homeownership in Connecticut is possible with the savings and flexibility of an FHA loan (Federal Housing Administration). This mortgage option requires a low down payment and is ideal for those with less-than-perfect credit.
FHA Loan Perks
Did you know that as a Connecticut resident, you can use an FHA loan to buy a new home even if you're not a first time home buyer? Whether you are looking to buy a new home or refinance your existing mortgage, we can help you save!
Low Down Payment
Expert Advice
Credit Flexibility
FHA Loan CT Requirements
FHA loans are backed by the Federal Housing Administration and have different requirements from other mortgages. Check out if you qualify by reviewing what is required:
- Minimum credit score of 500.
We believe in second chances. Take advantage of an FHA loan as you work to rebuild your credit.
- Minimum down payment of 3.5%.
If you have a credit score of 580 or higher, expect to pay at least 3.5%. If your score is lower, a 10% down payment is required. - Debt-to-income ratio of 50% or less.
Debt-to-income ratios are determined by adding all your monthly debt payments and dividing them by your gross monthly income.
- Mortgage insurance is required.
An upfront mortgage insurance premium and an annual mortgage insurance premium are required.
Your Personal Mortgage Advisor
- Expert Trusted AdviceWe are experienced with doing mortgages specifically in Connecticut.
- Custom Mortgage OptionsWe are with you every step of the way providing solutions to your unique needs.
- Relationship Not Just a TransactionWe have a passion for helping people like you to look out for your best interest.
We Are Here For You!
One Step Closer To Your New Home
If you're a Connecticut first time home buyer searching for an affordable mortgage, you can save big with a Finex Credit Union FHA loan. Apply online 24/7 and stash away your savings for your next "first!"
- Low down payment requirements.
- No need for a perfect credit score.
- Relax and let us handle the details.
- Apply online 24/7 from anywhere.
Refinance Rates That Save You More
When mortgage rates and refinance rates are lower than what you are currently paying, you can choose to refinance. Refinancing can help by:
- Reduce your monthly mortgage payment by refinancing with a longer term.
- Pay off your mortgage faster by refinancing with a shorter term.
- Consolidate your debt or make improvements by using the equity in your home.
A Loan That's Just The Right Size
If the kids are out of the house and it's time to downsize, look no further than Finex Credit Union! We have the rates and terms you need to stay on budget with your next home purchase.
- 10 - 30 year fixed terms.
- Adjustable rate mortgage options.
- No down payment is required.
- Borrow the entire amount of the cost of your new home (100% financing).
How Much House Can I Afford in CT?
What our members are saying...
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