Mortgage/Refinance
Keep your mortgage close to home.
Owning a home can provide a real sense of security. So can knowing that the people who service you and your mortgage are close by. Connex offers a variety of home buying and refinancing options with local support that makes all the difference.
Our members can take advantage of these convenient mortgage solutions:
- No Pre-Payment Penalties
- Single Family and Multi-family Homes
- Condominiums and Vacation Homes
- Low Down Payment Options
- Zero Point Options
- Rate Lock Up to 60 Days
- Fixed and Adjustable Rates
Your approval awaits for you!
Apply Online Today
Or contact any branch manager or you can contact our Home Loan Consultant
Free First Time Homebuyer Guide
You can also contact us at 1.877.428.6678.
If you want to make monthly budgeting easier, this traditional type of loan can help. Fixed rate loans maintain their original interest rate throughout the life of the loan. So the principal and interest payments will not change where they could with an adjustable rate loan.
When it comes to your home, don’t settle for anything less than the local, reliable service offered by Connex Credit Union.
- Save time with quick online pre-approval
- Save money with low closing costs
- Enjoy convenience with multiple financing options
Get started today.
Apply
You can also start the process by contacting our Home Loan Consultant Mark Frank (203.603.5811)
For additional information or assistance, you can also call 1.877.428.6678.
Let's face it, adjustable rate mortgages have gotten a bad rap as of late. That's because banks haven't always been up front about the details. At Connex, our ARM comes with a really low rate that could save you a lot of money. But it also comes with something more important - honest advice. We'll match the advantages and risks of an ARM to your needs and expectations. Then together we decide if it's right for you. That's the part banks forget to do.
Adjustable Rate Mortgages (ARMs) provide you with initial lower interest rates and payments and increased purchasing power, but are subject to rate adjustments later on. In addition to standard programs that adjust every 6 months, our programs provide an initial fixed rate for up to ten years before the rate adjusts.
Enjoy flexibility
Whether you are buying your first home or you have mortgage needs that don’t fit within the traditional loan frameworks, our mortgage professionals will listen and help you explore the options.
When it comes to your home, don't settle for anything less than the local, reliable service offered by Connex Credit Union.
- Save time with quick online pre-approval
- Save money with low closing costs
- Enjoy convenience with multiple financing options
Get started today.
Apply
You can also start the process by contacting our Home Loan Consultant Mark Frank (203.603.5811)
For additional information or assistance, you can also call 1.877.428.6678.
There are a variety of reasons that you may want refinance your mortgage.
The mortgage specialists at Connex can help guide you through the options and help you to choose the loan that will meet your goals. No matter what your goal is we can deliver the right match.
- Lower your monthly mortgage payment
- Reduce your interest rate
- Switch to a fixed-rate or variable-rate loan
- Pay-off your mortgage sooner
We are committed to providing money and time-saving home loan options. That’s why we offer our free Home Loan Savings Analysis. With just a few pieces of information, we will review the information provided and will be in touch within one business day with some great news.
You can also apply for a mortgage refinance online with no obligation.
Apply
Whether you are buying a home or you have mortgage needs that don't fit within the traditional loan amounts, our mortgage professionals will help you explore the adjustable and fixed rate options for a jumbo loan up to $1,000,000.
What is a jumbo loan?
A jumbo mortgage, also called a jumbo loan, is a mortgage that exceeds conforming loan limits. In Connecticut the conforming loan limit for a one-unit property is $806,500.(In Fairfield County, the conforming loan limit for a one-unit property is $851,000.)
Jumbo loans are available for purchases or refinances, and approval is based on the same basic formula as any other mortgage. Eligibility depends mainly on income, cash reserves, credit score, debt, employment status, and property type.
When it comes to your home, don’t settle for anything less than the local, reliable, service offered by Connex Credit Union.
- Save time with quick online pre-approval
- Save money with low closing costs
- Enjoy convenience with multiple financing options
Get started today.
Apply
You can also start the process by contacting our Home Loan Consultant Mark Frank (203.603.5811)
For additional information or assistance, you can also call 1.877.428.6678.
Connex is there to help first-time homebuyers to become new homeowners. Our mortgage specialists can talk you through the process and loan options from start to finish. In addition to unparalleled guidance, we offer up to $1,0002 credit at closing! Receive a $500 credit at closing just for being a first-time homebuyer, and if you attended one of our free First-Time Homebuyers seminars or complete the HomeViewTM course you are eligible for an additional $500 credit at closing.
HomeViewTM
No matter your goals or background, we’re here to guide you.
Connex members can take advantage of HomeViewTM, a learning platform provided by Fannie Mae designed to help guide you through every step of your homeownership journey. HomeViewTM is a comprehensive first-time homebuyer course, available in both English and Spanish, that will provide you with the information you need to take the next steps towards homeownership.
You can also start the process by contacting our Home Loan Consultant Mark Frank (203.603.5811)
1 First-time homebuyer is an individual who has not owned a principle residence for 3 years. If joint applicant, only one of the applicants must meet this criteria.
2The $500 learning credit (for attending a Connex First-Time Homebuyer Webinar or completing the HomeViewTM course) and the $500 credit for being a First-time homebuyer apply only when closing on a Connex mortgage through Member’s Mortgage. Member is responsible for providing a certificate of course completion or promo code for credit eligibility. Credits at closing have no cash value and cannot be used toward any other service. Closing credits are subject to change at any time and may be withdrawn without notice.
Pay Your Connex Loan With Funds From Your Connex Checking / Savings Account:
Log into Online Banking via laptop, computer or tablet; or Mobile Banking via smartphone and use the "Transfer Funds" option to make your loan payment.
Pay Your Connex Loan With Funds From Another Financial Institution
It's easy to set up Connex loan payments using funds from another financial institution. Simply log into Online Banking and click on the Move Money Button from the top navigational menu then choose Loan Payment and follow the directions on the screen.
You can also use Mobile Banking to make your Connex Loan Payments. Simply log into the app and click on the "more" button. For iPhone users, click on the three dots in the lower right hand corner of the app. For Android users, click on the three lines in the top left corner of the app. Click on the Loan Payment link and then follow the directions on the screen.
Pay In Person
You can also make loan payments in person at one of our branches or any Shared Branching location.
If you prefer to mail your payments, please send to:
Connex Credit Union
P.O. Box 477
North Haven, CT. 06473
Low Income / Low Down Payment Options
With HomeReady®, you'll be surprised how little cash you need to buy a home.
- Income limitations apply
- Down payment requirements as low as 3% for fixed rate products and purchases of single-family primary residences
- Flexible underwriting guidelines
- Reduced mortgage insurance coverage requirements for financing greater than 90%
- Gift funds from acceptable sources allowed
- Homebuyer education is required for at least one borrower
The HomeReady™ Mortgage (HomeReady) program is sponsored by Fannie Mae and helps lenders serve today's market of creditworthy, low- and moderate-income borrowers.
HomeReady loans allow as little as 3% down payment which is lower than most conventional loans. With conventional mortgages, there may be restrictions on the source of your down payment.
Most mortgages require a "minimum contribution" from the borrower. This means that the borrower must come up with a certain portion of the down payment on their own. Beyond that minimum contribution, borrowers can usually make up the rest of their down payment with other sources of funds such as gifts or down payment assistance programs. However, HomeReady mortgages are more flexible-100% of the down payment to can come from gifts, or other sources. In other words, a relative or friend can give the entire down payment and closing costs to the borrower.
FHA loans are popular among homebuyers who cannot qualify for a conventional loan.
- Down payment requirements as low as 3.5 % for purchases of single-family primary residences
- Provides a possible option for borrowers with credit challenges
- Flexible underwriting guidelines
- Monthly mortgage insurance premiums (MIP) and Upfront Mortgage Insurance Premiums (UFMIP) apply
- Homebuyer education is required
An FHA loan is a mortgage insured by the Federal Housing Administration (FHA). FHA loans are popular among homebuyers who cannot qualify for a conventional loan, either because of a low credit score or because they don’t have a large enough down payment. FHA loans can only be used to finance a primary residence.
FHA Loans require mortgage insurance. FHA Mortgage Insurance is generally more expensive than conventional mortgage insurance because FHA lenders take on more risk approving loans to lower-credit-score borrowers. You’ll pay FHA mortgage insurance regardless of your down payment.
Connex Credit Union Community Lending program provides low income to Moderate income families the opportunity for homeownership.
- First-Time Homeowner Mortgage Loan Program
- First-Time Homebuyer Down Payment Assistance Program
- First-Time Homebuyer Rehabilitation Program
Please contact Jeannette Lucky at (203)907-4487, [email protected] for more information regarding eligibility.
View Pending Mortgage Application
Home Loan Originator NMLS Status - Check your loan originator's status here.
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