Why Winter Can Be the Best Time of Year to Buy a House

December 10, 2019
Author: New England Home Mortgage
While it's true that things tend to slow down in the winter, that's not necessarily a bad thing. Yes, it's cold. Yes, fewer homes could be for sale. Yes, moving in a snowstorm is a pain no one should experience.
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FHFA Announces Maximum Conforming Loan Limits for 2020

December 3, 2019
Author: New England Home Mortgage
In most of the U.S., the 2020 maximum conforming loan limit for one-unit properties will be $510,400, an increase from $484,350 in 2019.
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Are You Appraisal Waiver Eligible?

November 19, 2019
Author: New England Home Mortgage
Still time to save some money for the Holidays with refinancing your home without the cost of an appraisal. Just because you’re refinancing does not mean you have to go through the hassle of getting a new appraisal.
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What is PMI?

November 12, 2019
Author: New England Home Mortgage
Home buyers are no longer confined to a 20% down payment in order to qualify for a loan. Both FHA and conventional loans offer options with down payments between 3% and 5%. Because lenders are taking a bigger risk with the borrower putting less money down, private mortgage insurance (PMI) may be required.
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The Background of Election Day

November 12, 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

November 12, 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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