September 18, 2009
Official HUD Seal from fha.gov
Ever wonder about FHA mortgages and how they work? I read recently that HUD gave Connecticut over $40 million for special lending programs. That may make you wonder about the programs available.
You can start with the official HUD/FHA web site. There you can learn about the programs available to you as a home owner.
FHA loans were designed for the less than perfect borrower. One who needs to put a little less down, or may have lower than average income. I myself took advantage of an FHA program years ago when I bought my first home with only 3% down.
If you find a program that you think you'd qualify for and you'd like to pursue it, you should then find a local lender who can help you apply for the special program you have in mind. There is a search feature on the site that will help you find a lender. I looked quickly and found several local banks in the area that offer them such as Farmington Savings Bank, Windsor Federal, Sovereign Bank, Webster Bank, Rockville Bank and Liberty Bank.
For more information: Ever wonder how affordability is calculated when applying for a home loan?