The Background of Election Day

November 5, 2019
Author: New England Home Mortgage
Election Day in the United States of America is the Tuesday following the first Monday in November. It can fall on or between November 2 and November 8. It is the day when popular ballots are held to select public officials. These include national, state and local government representatives at all levels up to the president.
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NEHM's TRICK or TREAT Safety Tips

October 29, 2019
Author: New England Home Mortgage
Halloween is all about great costumes, candy, and fun. Consider taking some of these simple safety precautions before taking your kids out trick-or-treating in the neighborhood this year.
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What is the average time it takes to close on a home?

October 29, 2019
Author: New England Home Mortgage
On average most homes can close in about 45 days. This is the timeframe from application to “loan funding”, which is when the home is officially yours. The type of loan program you get can also make a difference.
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Connecticut winter can be fierce. Is your home prepared?

October 29, 2019
Author: New England Home Mortgage
According to The Old Farmers Almanac winter is approaching. Is your home prepared? Here are a few helpful tips to get you started.
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Service Deserves Its Rewards

October 29, 2019
Author: New England Home Mortgage
We recently became an affiliate mortgage specialist with a national program called Homes for Heroes®.
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New Condominium Approval Policy for FHA Financing

September 24, 2019
Author: New England Home Mortgage
Beginning October 15, 2019, the Federal Housing Administration (FHA), will have new condominium approval rules. 
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Do you have a Home Maintenance Fund?

September 17, 2019
Author: New England Home Mortgage
You know that buying a home comes with many costs, with the down payment and closing costs as just the beginning. Once you make the move and become official homeowners, it is essential to consider additional costs: home maintenance and emergency costs. 
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5 Types of PMI

September 10, 2019
Author: New England Home Mortgage
Private Mortgage Insurance, or PMI, allows you to buy a home while putting less than 20% down. Mortgage loans today allow buyers to put down as little as 3-5% when purchasing a home. But paying less upfront means more risk for lenders. That is where PMI comes in; it’s insurance to protect the lender. 
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How much can I afford?

September 3, 2019
Author: New England Home Mortgage
It’s one of our most asked questions: How do you determine how much we can afford? Don’t worry - it’s not a guessing game. There is a concrete mathematical equation that helps us determine what you can comfortably pay each month without stretching your limits.
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What's the difference between Banks, Credit Unions, and Mortgage Lenders?

August 27, 2019
Author: New England Home Mortgage
Mortgage loans help to finance one of the most significant purchases of your life. There are a number of decisions to make when applying for a loan: Do you want an FHA or Conventional loan? Do you qualify for a VA or zero down payment option? Would you like a 30-year or 15-year mortgage? Fixed-rate or ARM? On top of these options, there are different lenders that can loan you money for a mortgage. We review types of lenders that may supply your loan.
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Mortgage Rates Drop to a 3-year Low

August 20, 2019
Author: New England Home Mortgage
Mortgage interest rates hit a 3-year low earlier this month, the lowest they have been since November 2016. For fixed-rate 30-year mortgages, FHA loans are currently in the mid 3’s. Conventional loans vary a bit more, as they are more dependent on credit scores, but we presently see rates in the high 3’s to low 4’s.
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Full Disclosure: Rehab Loans

August 13, 2019
Author: New England Home Mortgage
Rehab loans, or renovation loans, allow you to buy and upgrade a house that needs some work done. Many houses with issues, such as an old roof, will not get appraised, which means a traditional mortgage loan will not go through. With a rehab loan, you can account for the purchase price of the house and the costs to fix issues. 
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Refinance or Prepay?

August 9, 2019
Author: New England Home Mortgage
A 30-year loan is the most popular option among homeowners. When buying a home, the expenses of a down payment, closing costs, and moving costs are significant. So when comparing 30-year and 15-year mortgages, the lower monthly payment that goes along with the long-term option is more manageable for the majority of homeowners. After a few years in the home, there could be a time when your financial situation becomes more secure, and you are able to pay more than the minimum amount due. You can decide to make larger monthly payments and prepay your mortgage or refinance your loan to a shorter term.
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Multifamily Financing Options

August 9, 2019
Author: New England Home Mortgage
Owning a multifamily property in a good location can be an excellent investment choice. But when you are just getting started in real estate investment, you must determine the best way to secure financing. Whether you want to go small with a duplex or a larger multifamily complex, there are several options if you have good credit and a down payment saved.
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Full Disclosure: Market Trends in Hartford County

August 9, 2019
Author: New England Home Mortgage
What’s happening in Hartford County with real estate this year? People often ask how the market is doing. Working with buyers to obtain mortgages and get into a new home as quickly as possible, we stay up to date with market shifts and trends. Recently, the Brians sat down to disclose what is happening in the real estate market in Connecticut, why buyers should lean on their Realtor, and reasons not to worry about getting a good deal. 
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