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A: Why use a Connecticut Mortgage Broker?
Connecticut Mortgage brokers.
Apply for a Connecticut Home Equity Loan
Apply for a Connecticut Home Mortgage Loan
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First Time Buyer in Connecticut Seminar Sign Up
Get Pre-Approved or Pre-Qualified
Las Vegas Loan Modification
Refinance your Connecticut Home Mortgage Loan
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Mortgage Glossary
Acorn Home Mortgage works with homeowners from prequalification to closing. Whether you are a First Time Home Buyer in Connecticut or trading up, we will assist you to find the best mortgage product for your specific needs. It is about what you can afford and your monthly payment. We personally meet our clients in CT.
Considering refinancing your Connecticut Mortgage, then let our experienced mortgage professionals evaluate your mortgage and debts to determine if you can save at least a month's worth of salary? Refinancing is all about restructuring your total debt to reduce your total monthly payment.
A B C D E F G H I J L M N O P Q R S T U V W Y Z
Office of Thrift Supervision (OTS)
The regulatory and supervisory agency for federally chartered savings institutions. Formally known as Federal Home loan Bank Board
One-year adjustable
CT mortgage whose annual rate changes yearly. The rate is usually based on movements of a published index plus a specified margin, chosen by the lender.
Open-End Mortgage
A mortgage that provides that the outstanding loan balance may be increased upon mutual agreement of the lender and the borrower.
Operating Expenses
The cost of maintaining a multi-unit property.
Option ARM
The Option ARM in CT has been developed to offer a client an opportunity to decide monthly how much money to pay toward the mortgage. The Option ARM payment may be a low introductory rate below prime, interest only, 30 year fixed, or 15 year fixed. The homeowner selects what payment fits each month. This mortgage is usually calculated off an index such as the LIBOR, COSI, or COFI. (These indices are tracked daily in most financial papers.) These indexes are more stable than the bond and therefore are less likely to incur large swings.
Origination Fee
The fee charged by a lender to prepare Connecticut home loan documents, make credit checks, inspect and sometimes appraise a property; usually computed as a percentage of the face value of the Connecticut home loan.
Owner Financing
A property purchase transaction in which the party selling the property provides all or part of the financing.
Owner Occupant
A borrower who will be residing in the subject property as his principal residence.
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