Mortgage Loans
Calling all dreamers! Make your house the home of your dreams. Pay for college tuition and expenses. Consolidate your debt. No matter the dream, Cencap can help.
FIXED SECOND MORTGAGE/HOME EQUITY
- Principle and Interest payments
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10 year draw period
- 10 year payback
- Set term repayment period
The terms of repayment, which reflect the repayment obligations over the full term of the loan, including any balloon payment (i.e., a sample payment example), such as “48 monthly payments of $27.83 per $1,000 borrowed.”
The APR and if the rate may be increased after consummation, that fact (for adjustable rate mortgages)
Once the payment example is posted, if the advertisement is for credit secured by a first lien on a dwelling, the following statement should be posted: the payments do not include amounts for taxes and insurance premiums, if applicable, and the actual payment obligation will be greater.
Inquire about the term and rate.
HOME EQUITY LINE OF CREDIT (HELOC)
- Prime minus .50%
- Interest only payments
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10 year draw period
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10 year payback
Maximum loan amount conditions and loan to value conditions apply. Maximum loan to value 75%, $20,000 minimum loan amount. $300,000 maximum loan amount. Loans will be made against your primary residence, 1-4 family homes located in the states of CT. Property insurance is required. The highest prime rate published in the Wall Street Journal minus .50%. The exact rate will be established at closing. INTEREST RATE CAPS: Home Equity Line of Credit carries a lifetime maximum cap of 18% and a minimum floor of 4.00%.
Contact 860.722.8110 to apply
FIRST MORTGAGE
- Conventional mortgage programs
- Adjustable rate mortgages for 3, 5 and 7 years
- Fixed mortgage terms for 10, 15, 20, and 30 years