CHARTER OAK FCU TO OFFER GOVERNMENT GUARANTEED HOME LOAN PROGRAM
Guaranteed Loans Will Offer 100% Financing on Owner-Occupied Single Family Residences
Groton, CT-May 13, 2011 –Charter Oak Federal Credit Union, the leading mortgage lender in Eastern Connecticut in 2010, has added Government Guaranteed Home Loans to its list of mortgage products. Beginning Tuesday, May 17th, qualified members will be eligible for the government insured loans, which offer a 30 year fixed rate, 100% financing and no mortgage insurance requirement.
Offered through the USDA, the program is open to individuals who plan on purchasing an owner-occupied single family residence in certain areas of New London and Windham counties. In order to qualify, applicants must meet specific income requirements. Serving over 70,000 members, Charter Oak is adding the Government Guaranteed Mortgage to its product offering in order to better serve the residents of New London and Windham Counties. Supplementing the Credit Union’s philosophy of “people helping people,” the program’s 100% financing will make the dream of home ownership a reality for many area residents who in the past, could not qualify for conventional mortgages without a large down payment.
Those interested in this beneficial mortgage program are encouraged to speak with one of Charter Oak’s mortgage professionals by calling 860-446-8085 extension #201. For more information about Charter Oak Federal Credit Union’s mortgage products, including its Government Guaranteed Mortgages, please visit: http://www.charteroak.org.
