Mortgage Interest Rates
Fair Housing Act Notice
|| Online Loan Center - Residential Mortgages
Fairfield County Bank offers a complete menu of mortgage financing programs. Whether you are purchasing your first home or next home, building or refinancing, we can meet your specific needs. Be sure to ask about our pre-approval program. You can apply for a mortgage, or home equity line of credit online.
We offer financing on properties located throughout Connecticut and Northern Westchester County, New York.
Fixed Rate Mortgage Programs
Enjoy the security of a fixed interest rate on a fully amortized loan where the monthly payment remains the same for the life of the loan. This type of loan is ideal for borrowers who do not want the risks associated with changing or adjustable interest rate mortgage payments.
Adjustable Rate Mortgages (ARM)
This program allows borrowers to buy more home for their money, which can help reduce their monthly housing expenses. With this type of loan, your interest rate and payment can change. ARMs typically have a lower initial interest rate than fixed rate mortgages. Interest-rate caps are provided on all ARM products for your protection.
Jumbo mortgages are available at fixed or variable interest rates, for customers requiring financing above Freddie Mac and Fannie Mae loan amounts (up to $3 million).
Investor mortgages are available for one- to four-family homes, condos, and large commercial complexes.
Federal Housing Authority (FHA) mortgages generally offer lower down payments plus flexible qualifying guidelines. You can obtain either a fixed-rate level payment plan or an adjustable rate mortgage.
Mortgages guaranteed by the Veterans Administration allow up to 100% financing. VA mortgages are available to eligible veterans and others who qualify.
The Connecticut Housing Finance Authority (CHFA) offers low rate mortgages to help low and moderate income residents purchase a home. Up to 100% financing of the mortgage and closing costs is available for eligible borrowers.
Bridge Loans offer interim financing between the sale of a present home and the purchase of a new one.
Home Equity Lines of Credit
Tap into the equity you have built in your home with our Home Equity Line of Credit. Enjoy the convenience of an instant cash reserve ready for virtually any financing purpose: home improvements, college tuition, major purchases (like a car or boat), and debt consolidation. Once you qualify, simply write a check for any amount up to your approved credit line limit. Plus, a home equity line of credit can provide a significant tax advantage - you may be able to deduct up to 100% of the interest from your taxes! Be sure to consult with your tax advisor regarding the deductibility of interest.
Home Equity Loans
If you prefer the security of fixed monthly payments or have a one-time purchase or expense in mind, a Home Equity Loan may be the right solution for your needs. Fixed monthly payments for the life of your loan make it easier to plan your budget. And since the interest may be fully tax-deductible, you can save at tax-time too! Consult with your tax advisor regarding the deductibility of interest.
For more information about our Residential Mortgage Loan programs, call us at (203) 431-7550 or toll-free at 1-877-431-7431. Or send us an e-mail.
The SmartMove Homeownership fund enables homebuyers to purchase homes in southwestern Connecticut. For qualified borrowers, SmartMove provides low-interest (3%) 20-year second mortgages of up to 20% of the purchase price. SmartMove borrowers do not have to pay for mortgage insurance and also benefit from lower mortgage payments. Borrowers can put down as little as 1% of the purchase price towards the purchase of their home. There is a $2,000-$2,500 service fee for SmartMove borrowers. This fee is not included in the loan amount and will be added to closing costs. This program is made possible through the Housing Development Fund (HDF) located in Stamford Connecticut. For a map and list of towns in the HDF service area click here or send us an e-mail.