We make it easy for you to buy, refinance or build a home.

Whether you're a first-time homebuyer or are looking to refinance, you’ll find the home loan that's right for you at Farmington Bank. Our experienced Home Loan Specialists will guide you through the entire process, from application to closing. Available in CT and MA.

Choose the Mortgage That’s Right for You:

Farmington Bank offers financing in Connecticut and Massachusetts.

Mortgage1 Ideal if you: What is it? Benefits:

Fixed-Rate Mortgages

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Prefer a consistent and predictable monthly payment.

Need a loan for $417,000 or less.
A home loan with a rate and payment that remain the same for the entire term of the loan. Peace of mind that your monthly payments won’t increase.

No pre-payment penalties.

Variety of terms available.

Adjustable–Rate Mortgages (ARM)

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Plan to stay in your home for a shorter period of time.

Are purchasing or refinancing when fixed rates are relatively high.
A home loan with an interest rate that typically changes to reflect market conditions. These loans may initially have a lower payment but could go up or down after the initial fixed rate period ends.
Usually offers a lower interest rate and monthly payment for the first few years of the loan.                 

No pre-payment penalties.

Variety of terms available.

Construction & Home Renovation Loans

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Are buying a newly built home in a development

Are building a custom home from the ground up.

Are making improvements or repairs to a home.
A loan, typically used to pay for the cost of building or renovating a home. One closing.

Speak with one of our helpful Home Loan Specialists to understand the benefits of a construction loan for your specific situation.

Jumbo Loans

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Need a loan for more than $417,000. A home loan for larger amounts between $417,001 and $1,500,000. Offers a larger amount of financing.

Fixed and adjustable options with a variety of terms available.

Connecticut Housing Finance Authority (CHFA)2

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Are a first-time homebuyer purchasing a home in Connecticut.

Have limited cash for a down payment.
A government home loan through CHFA that offers below-market interest rates for people who have not owned a primary residence in the last three (3) years. There are also specialized loan programs for teachers, police officers and military personnel. Potential to finance the down payment and closing costs.

Ability to use a family gift as the down payment.

Reduced interest rates for CHFA's targeted areas.

Federal Housing Administration (FHA) Mortgages

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Have less-than-perfect credit.

Can afford a 3.5% down payment.

Are buying a multifamily home.
A government home loan insured by the Federal Housing Administration with an interest rate that remains the same for the entire term of the loan. FHA loans require the borrower to pay mortgage insurance for the life of the loan. Typically easier to qualify for.

Requires a lower down payment than many other mortgages.

Home4You Mortgages

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Are a first-time homebuyer purchasing a home in Connecticut or Massachusetts.

Have limited cash for a down payment.
A home loan for larger amounts between $417,001 and $1,500,000. Offers a larger amount of financing.

Fixed and adjustable options with a variety of terms available.

Veterans Affairs (VA) Fixed-Rate Mortgages

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Are a U.S. veteran or an unremarried surviving spouse of a U.S. veteran. A government home loan guaranteed by the U.S. Department of Veterans Affairs offering long-term financing to eligible American veterans or their surviving spouses. The interest rate remains the same for the entire term of the loan. No down payment required.

Reduced closing costs.

No monthly mortgage insurance.

Home Refinancing

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Would like to have a lower interest rate on your mortgage and market conditions have improved.                 

Have built equity in your home.
A new loan used to pay off an existing loan. Reasons for refinancing may include achieving a lower interest rate or monthly payment, changing the terms of your existing loan or converting some of the equity in your home to cash which may be used for a variety of reasons. Opportunity to secure a lower interest rate based on market conditions.

Allows you to convert a variable loan to a fixed loan.

Provides option to draw on your home’s equity to pay for home repairs or education, consolidate existing debt and more.

Federal Housing Administration (FHA) Mortgage Refinancing

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Would like to have a lower interest rate on your FHA mortgage and market conditions have improved. A new loan used to pay off an existing FHA loan. Reasons for refinancing may include achieving a lower interest rate or monthly payment, or changing the terms of your loan. Opportunity to secure a lower interest rate based on market conditions.

 
For Home Loans without "Apply Now"  green buttons, you must apply over the phone or at your local branch office.

1 All loans are subject to the credit approval process.
  1. 2 There are income and purchase price limits for homes purchased through this program.

All home loans feature...

Local Underwriting
Competitive Rates
Flexible Terms
Simple Applications

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