USDA Home Loans in Connecticut - Made Easy!

A great loan program available in the State of Connecticut is the USDA loan program. This program is designed to help borrowers purchase their home with 0 down payment, lower than conventional credit scores, flexible debt rations, and lower mortgage insurance requirements than FHA financing.

To qualify for a USDA loan the home has to be located in an eligible area. Over half of Connecticut is eligible for USDA financing. Also the program has income limits. However a couple buying a property can earn almost $100,000 and still be eligible for the program.

Some highlights of the program that make it attractive are as follows

$0 down payment required. One of the few programs where borrowers do not have to have a down payment. FHA requires 3.5% down and most conforming loans require 5% down.
Credit scores can be as low as 620.
Debt ratios can be as high as 47.99% again conforming loans will have hard time approving a loan over 45%.

For any questions please do feel free to reach out to me.

Craig Thibeau
Senior Loan Officer
North East Financial Middletown, CT
Ph 860-334-1354
NMLS 398576 Company NMLS 117273
craig@northeast-mortgage.com
www.northeast-mortgage.com