Ready to Own Mortgage
This program is specifically tailored to meet the needs of first-time home buyers or those who have not owned a home for a period of three years.
- Down payments as low as 3%
- Lower interest rates including a 1/8% rate discount
Welcome Home Mortgage
This unique Newtown Savings Bank mortgage is designed for first-time home buyers or those who haven't owned a home in three years. Our Welcome Home Mortgage Program is specifically designed to make buying a home easier and more affordable in low to moderate income areas.
- Down payments as low as 3%
- Preferred low fixed interest rates
- Combined Loan to Value (CLTV) of up to 105%
- Ability to use an approved down payment assistance program to help pay closing costs
- Down Payment Assistance from Newtown Savings Bank
Welcome Home Mortgage is subject to application and approval. Home buyer education is required. Purchase price sales of home may not exceed low to- moderate-income (LMI) tract limits established for the specific LMI tract within the towns within Newtown Savings Bank’s Community Reinvestment Act (CRA) areas. Subordinate financing must be from a community agency (meeting GSE Requirements). Financing is for existing single-family homes and warrantable condominiums. Other conditions apply – speak with us for details.
Government Sponsored Mortgages...
CHFA Mortgages
CHFA Mortgages are subject to application and approval. Home buyer education is required. Home price and income limits apply. Other conditions apply – speak with us for details.
FHA Mortgages
FHA Mortgage Loans are subject to application and approval. Monthly Mortgage Insurance Premiums (MIP) and Upfront Mortgage Insurance Premiums (UFMIP) apply. Maximum loan amounts vary by county.
Get pre-qualified before you shop for a home
When shopping for a home, a pre-qualification offers major advantages because realtors and sellers see you as a serious qualified buyer. In today’s housing market, many realtors and sellers may require a pre-qualification prior to home purchasing price negotiations. A pre-qualification not only gives you negotiating power, it lets you know your home purchase price range. Speak with one of our helpful Mortgage Bankers today for your free pre-qualification.