Mortgage/Home Equity/FHA Loans
Farmington Bank Mortgage ProductsAs a leading mortgage lender in Central Connecticut, Farmington Bank offers you a wealth of benefits:
- Very competitive mortgage rates
- Closing costs that may save you money
- Mortgage calculators you can use to estimate your monthly payments to see what you can afford
- Personal attention that makes the home buying process more pleasant and easy.
Our wide selection of mortgage products include:
- Pre-Approved Mortgages
- Fixed and Variable Rate Mortgages
- Construction Loans
- Land Loans
- Equity Loans
Today's Rates
Farmington Bank Home Equity Products
If you own your own home and have equity in it, you have the ability to tap into a convenient, cost-effective way to borrow and it may be tax-deductible, (Consult your tax advisor for details on tax deductions).
Use one of our home equity loans to make home repairs or improvements, buy a new car, finance a child's education, consolidate debt or anything else you can think of!
| HOME EQUITY LOAN | HOME EQUITY LINE OF CREDIT |
|---|---|
| - Fixed Annual Percentage Rate (APR) | - Variable Annual Percentage Rate, (APR may change after consummation) |
| - Flexible loan terms | - Interest only monthly, principal payments at your discretion * |
| - No Application fees or closing costs on loan amounts of $250,000 or less | - No Application fees or closing costs on loan amounts of $250,000 or less |
| - Loan amounts up to 80% of the appraised value of your home less the first mortgage balance | - Loan amounts up to 80% of the appraised value of your home less the first mortgage balance |
| - Annual membership fee of $35 after the first year | |
| - Prepayment Penalty applies on all accounts closed within 24 months of origination |
* Minimum payments under the plan will not be sufficent to repay the outstanding balance. A single payment of the entire outstanding balance is required at maturity.
FHA First-time Homebuyer & Affordable Mortgages Products
Whether you’re a first-time homebuyer or you’re seeking an affordable mortgage at a great rate, the Federal Housing Administration (FHA) offers mortgage programs with the following benefits:
• Low down payment
• Low closing costs
• Various credit qualifying programs
Our Mortgage Specialists can help you determine if an FHA mortgage is right for you.
