Serving Clients Across Connecticut
Since 1996

Mortgage Types & Pre-Approval


If you intend to buy your first home in Connecticut you should consider the CHFA program! It is the best loan program in Connecticut and is made available through the Connecticut Housing Finance Authority (CHFA). The CHFA program provides homeownership opportunities to low- and moderate-income families throughout the state. Qualified borrowers must fit the Authority’s criteria in order to participate in the program, including loan and income limits. Borrowers benefit from low interest rates, an easy lending process, and low down payments. It offers homeownership opportunities to those who might not benefit from conventional lending programs.

If you are looking to buy your first home, you owe it to yourself to check out this great opportunity! The CHFA program is the envy of other states throughout the nation!


FHA Mortgages help low-to-moderate-income homebuyers purchase homes with low down payments (3.5% or more) and flexible qualifying guidelines. Qualifying for a FHA loan is easier than any other loan. If you don't have a 20% down payment you should consider this loan type. These loans are insured by the Federal Housing Administration (FHA), which sets loan limits that vary by area. With an FHA mortgage, you can use a gift or unsecured loan for down payment and closing costs. FHA mortgages are available in fixed-rate and adjustable-rate mortgage options.

Using this loan type will get you into a home with the least amount of cash. It will also get you more house with a limited amount of cash than other loan programs. Loan limits vary by county, for loan limits please contact us or visit the FHA website at


A VA mortgage is a home loan that is guaranteed by the Department of Veterans Affairs (VA) and, like its FHA sister loan, is known as a government mortgage.

A VA mortgage is a no down payment loan that is ideal for the first time homebuyers if they are veterans of or active duty members of the U.S. Armed Forces with the requisite remaining eligibility. Loan amounts can be as great as $240,000 with no money down and as high as $307,000 with a down payment. If you've been in the military, you owe it to yourself to explore this opportunity.


Conventional loans are probably the most popular loan of all and are used to purchase or refinance single family houses, 2-4 family houses, condominiums, planned unit developments and vacation homes. They are generally available in 10 to 40 year terms. As opposed to an FHA or VA loan, a conventional mortgage is not insured or guaranteed by the federal government.

Minimum down payments are 5%, and loans with 20% down payments don't require the additional expense for mortgage insurance. They usually adhere to Fannie Mae/Freddie Mac approval guidelines.

Pre-Purchase Approvals

Don't ever sign a contract to buy a home without first being approved for the mortgage. Why contract to buy the home you want without knowing whether you can get the mortgage. It can only lead to anxiety and disappointment.