CHARTER OAK FCU ADDS FHA MORTGAGES TO LOAN OFFERINGS
FHA Mortgages Will Help Borrowers Relieve the Pressure for Large Down Payments
Groton, CT-January 31, 2012- Charter Oak Federal Credit Union, Eastern Connecticut’s #1 Mortgage Lender, continues to add to its list of mortgage products in order to better serve the region’s residents. Beginning February 1, 2012, members can apply for an FHA mortgage which allows financing for up to 96.5% of a home’s value for purchases and 97.75% for refinances with terms of 15 or 30 years. Featuring a fixed rate, the program is open to individuals who purchase or refinance an owner occupied 1-4 family home in New London or Windham County.
Charter Oak Federal Credit Union added FHA loans in order to better serve the borrowing needs of its field of membership. FHA loans make it possible for more area residents to realize the dream of homeownership by eliminating the requirement for a large down payment.
Brian Orenstein, Chief Executive Officer stated, “With today’s low mortgage rates, a low down payment will allow even more borrowers to become homeowners. We have specific programs for all borrowers, with our Accelerator, Cost-Saver, USDA and now, FHA products.”
For more information about Charter Oak Federal Credit Union’s line of mortgage products, please visit www.charteroak.org. To speak to a mortgage specialist, please call 860-446-8085 extension 201.
