4 great reasons to buy a home this year People decide to buy a new home based on a variety of factors. In most cases, life events dictate the need to enter the housing market. Some common reasons include job relocation, an expanding family, a desire to move from an urban to a suburban area or vice versa, or …
More flood insurance options for homeowners with FHA mortgages
Connecticut has many rivers and beautiful coastal areas throughout its cities, towns, and tribal areas. Flooding is a part of life in Connecticut due to heavy rainfall and snowmelt during the Spring months and other times of the year. Historically, flooding has caused many federally declared disaster areas in …
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How does a bridge loan work?
A bridge loan helps a potential homebuyer who wants to buy a new home before selling their current home. Most homebuyers plan to use the proceeds from selling an existing home as a down payment for a new home. Therefore, they will include this stipulation in the purchase and sale agreement when submitting an offer as a …
Learn the secret of adjustable-rate mortgages
With fixed rates up and home prices still on the rise, many Connecticut homebuyers are investigating adjustable-rate mortgages (ARMS), so how do you know if an ARM is right for you? Certainly, ARMs are not for everyone; however, in a rising rate environment, many first-time homebuyers will look to an ARM which may have …
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What you need to know about closing costs
What you need to know about closing costs When planning to buy a new home saving for the down payment and applying for a mortgage are usually top of mind, but there are other costs associated with paying for a new home. Closing costs are fees that the borrower must pay to third-party vendors who provide services …
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9 steps to becoming a homeowner
As a first-time homebuyer in Connecticut, you might be excited to find your dream home but also intimidated by the process. Real estate terms can be challenging to understand. And then there is the preparation you must do to get financed. We get it. Understanding all that goes into the process will help if your goal is …
