FHA Loan New Britain CT

Recently, the most popular mortgage product for homebuyers has been the FHA loan. As part of the Economic Stimulus Act of 2008, Congress raised the FHA loan limits so that they are viable for purchasing a moderate home in high cost areas like California and Hawaii.

Local Companies

Barnum Financial Group, an Office of MetLife
(860)895-6324
100 Great Meadow Rd.
Wethersfield, CT
Allstate Agent Kevin Tobin
203-237-2227
477 South Broad St
Meriden, CT
National Credit Fixers
860-282-6181
330 Roberts Street
East Hartford, CT
National Credit Fixers
860-282-6181
330 Roberts Street
East Hartford, CT
McCue Mortgage Co the
(860) 224-2683
New Britain, CT
Nutmeg State Federal Credit Union
(860) 224-2667
55 Curtis St
New Britain, CT
Polaris Mortgage Group
(860) 928-6600
7 Beeches Ln
Woodstock, CT
Black Diamond Commercial Finance
(203) 425-9507
281 Tresser Blvd
Stamford, CT
Southstar Funding
(860) 676-7882
406 Farmington Ave
Farmington, CT
Sound Federal Savings
(203) 348-8800
Stamford, CT

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Recently, the most popular mortgage product for homebuyers has been the FHA loan. As part of the Economic Stimulus Act of 2008, Congress raised the FHA loan limits so that they are viable for purchasing a moderate home in high cost areas like California and Hawaii. No longer are FHA loans just for low income families that can't otherwise afford a home.

The greatest part of all is homeowners that do not want to move can still reap the benefits of these changes with an FHA refinance. Like any conventional refinance, this allows a savvy homeowner to tap the equity that he or she has built up in a property from principal pay down and appreciation.

Proceeds from paying off your previous mortgage can be used in any way the owner likes. Of course, the smartest would be to invest this money either back into the house or in some other way. In many cases, it's smart to pull some cash out to update a house in order to increase the value. If the remodeling is done in the right areas of the house it would be possible to profit by doing nothing! Technically, it wouldn't be "nothing" but one could refinance his or her home, use those proceeds to hire out the work and increase the value by more than was spent.

FHA Refinance Requirements

  • Owner must have owned and lived in home for 12 months..

  • Owner must have good credit and timely payments for 12 months.

  • All borrower’s credit must qualify.

  • Loan amounts must be below the maximum for that area.

Click here to read article at HomeConstructionImprovement.Com

Featured Local Company

Barnum Financial Group, an Office of MetLife

We help our clients grow and protect their assets.

(860)895-6324
100 Great Meadow Rd.
Wethersfield, CT
http://

Barnum Financial Group's business is advancing your financial life. More than 100,000 people rely on our 300 financial professionals for both a comfortable lifestyle today and a secure financial future tomorrow. For the 4th year in a row, we have been ranked MetLife's #1 agency.

You work hard for your money. We work hard to help protect and increase it. Everything we do is designed to protect, manage or grow your financial assets.

At BFG, we also believe in giving back to the community. In 2007, we donated more than $75,000 and 711 volunteer hours to a host of worthy causes including:

Mortgage elimination for a family on ABC TV's
Extreme Makeover: Home Edition"
Back to school clothes for 34 underprivileged kids
Bikes and helmets to 300 kids
Golf Tournament to benefit the Foundation for Life
Charity Gala to benefit the Foundation for Life


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