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Mortgage Refinancing Help: Connecticut
“For both new buyers and refinancers, it's important to understand what a no-cost mortgage loan or a no-cost refinance loan really means. "No cost" does not mean that closing costs (also known as settlement costs) have been erased. It means that the closing costs will be factored into the interest rate associated with the loan. Of course, this also means that, all other things being equal, the interest rate associated with a no-cost mortgage will always be higher than one where the borrower pays the closing costs up front.
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Mortgage Refinancing Help
: Business: Financial Services: Banking Services: Banks and Institutions: Regional: North America: United States
: Connecticut (21)
 Carefully review the estimated closing costs. If you decide to lock in the rate, the lender will send you a "good faith estimate" of your closing costs within three days. Go over the numbers carefully, and compare them to the ones that appear on the final settlement statement (the HUD-1) from your previous mortgage.
 See also:
 First County Bank »
A savings bank providing personal and business banking services to the residents of lower Fairfield County, Connecticut.
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 Jewett City Savings Bank »
Serving Brooklyn, Central Village, Jewett City and surrounding communities.
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 NewAlliance Bank »
Personal and business banking services plus wealth management. Locations statewide.
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 The Savings Institute »
Independent mutual savings bank offers a full array of banking services to Eastern Connecticut.
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 Essex Savings Bank »
Personal and business banking for Chester, Deep River, Essex, Lyme, Old Lyme, Old Saybrook, Westbrook, and surrounding communities.
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 Naugatuck Valley Savings and Loan Association »
A state chartered mutual savings and loan with offices in 3 locations.
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 National Iron Bank »
Northwest Connecticut's National Iron Bank and National Iron Mortgage Company provide personal and commercial banking, deposit and loan products with 24-hour access.
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 Rockville Bank »
Provides personal and business banking in Rockville, Connecticut.
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 The Community's Bank »
Provides personal and business banking for Beardsley, Bloomfield, and Blue Hills.
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 First National Bank of Suffield »
Consumer banking services, with locations in Suffield, West Suffield and East Granby.
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 Fairfield County Savings Bank »
A full service community bank headquartered in Fairfield, Connecticut.
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 Liberty Bank »
Serving the Hartford, New Haven and New London regions.
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 The Milford Bank »
Community bank serves the Milford area with 3 locations.
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 First National Bank of Litchfield »
Consumer banking services at branch locations in Litchfield, Goshen, Roxbury, Marble Dale, Torrington and Washington Depot.
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 People's Bank »
Independent bank based in Fairfield County with branches statewide. Information on products and services, with directory of branches organized by county.
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 The Simsbury Bank »
Provides personal and business banking in Simsbury, Avon and Granby.
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 Webster Bank »
Operates banking offices and mortgage centers throughout Southern New England.
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 Union Savings Bank »
Danbury based mutual savings bank with branches in 9 locations
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 BankNorth Connecticut »
Information on products, rates, locations, investment planning and management. Branch locations statewide.
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 Farmington Bank »
Consumer banking services with locations throughout central Connecticut.
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 Savings Bank of Danbury »
Community bank with 6 branches in the greater Danbury area.
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 Close inactive credit card accounts to improve your credit score, making you eligible for lower interest rate loans. You will need to notify the credit card companies in writing that you wish the accounts closed on your request. Next, check your credit report after 30 days to be sure closed accounts include the comment "Closed at Customer's Request." You want future lenders to know it was your request and not bad credit that closed your accounts. Also, take the time to check for any mistakes in your credit report that could negatively impact your credit score.
Be specific about the loan you want. The more precise you are, the easier it will be for a loan officer or mortgage broker to find the best rate. For example, do you want a 15-year or 30-year mortgage? Do you need a "jumbo" mortgage (more than $333,700)? Are you willing to pay points to reduce the interest rate? The answers to these questions will depend on several factors, including when you plan to sell the house and how soon you want to retire your debt. Only you know the answers, but the sooner you know them, the better.
If you have bad credit, find a lender who is willing to work with you and offer you reasonable loan terms.
Homeowners who want to refinance but can't because they owe more on their home than their home is worth (also known as "upside down") should focus their time and energy on making more money. Adding a part-time job or starting a side business will bring extra income into the household, income that can be used to make extra payments a mortgage.
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