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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
Contact Us
First Time Buyer in Connecticut Seminar Sign Up
Get Pre-Approved or Pre-Qualified
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
Quick Claim Deed
A deed that releases any claim or interest in a property. This deed is used very often in a divorce situation where one spouse quick claims his interest in the home owned jointly. It is important to remember that this does not limit the liability for paying the mortgage. Both parties are still on the note and mortgage. If the spouse who receives the house in the divorce does not make mortgage payments in a timely manner, the other spouse who has quick claimed the property will be responsible for the mortgage payments. Any late mortgage payments will also show up on both spouse's credit reports. This has surprised many divorced people trying to get a new mortgage.
Qualification
Qualification is the initial process to verify that a borrower has enough cash and sufficient income to purchase a home. Qualification is not an approval because necessary documents have not been collected and check from the borrower. At Acorn Home Mortgage CT, we will have made credit enquiries to access the credit worthiness of the borrower and the likely interest rate that they would pay. Without this, we cannot estimate the maximum amount of money that the borrower could borrow. Once pre-approved, a lender has actually confirmed the current interest rate at which they would be prepared to lend, subject to satisfactory documentation.
Qualifying Ratios
Calculations used to determine if a borrower can qualify for a CT mortgage. They consist of two separate calculations: a housing expense as a percent of income ratio and total debt obligations as a percent of income ratio.
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