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First-Time Homebuyers

Dreaming of owning a home? Take advantage of the First-Time Homebuyer Program from Thomaston Savings Bank – made available with an allocation of $1,000,000 earmarked for our special first-time homebuyers here in Connecticut. With competitive rates and personalized service, open the door to your new home. You Get More When You’re Next Door.

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Mortgages for Connecticut's First-Time Homebuyers

Thomaston Savings Bank offers this special first-time homebuyer program to assist low- and moderate-income individuals purchasing homes in low- and moderate-income communities – and so you can grow in the community that we know.

Program Highlights:

3% minimum down payment
No P.M.I. (Personal Mortgage Insurance)
Rate reduced .50% (50 basis points) below our current rate
Rebate of full appraisal fee at closing
Non-traditional or limited credit history

Alternate Credit Underwriting:

One year employment history
Self employed - two years of steady income
Utility bills and rents - used for credit history

Program Details:

$175,000 maximum loan amount
Owner-occupied, 1-4 family and condos
Income limits apply (CHFA income limits)*
Various fixed rate options available
No pre-payment penalty
No balloon payment
Homebuyer education program required
Property must be located in a low- or moderate-income census tract within our assessment area

Contact One of Our Mortgage Loan Officers Today

Jason Alldredge
NMLS ID 457926
Work: 860-283-3441
Mobile: 203-212-9061

Vania Guerrera
NMLS ID 457927
Work: 860-283-3487
Mobile: 203-525-0364

Bob Frazee
NMLS ID 103851
Work: 860-283-3406
Mobile: 860-559-0353

Peter Aylward
NMLS ID 106105
Work: 860-283-3681
Mobile: 203-685-9550

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Comments

*The Connecticut Housing Finance Authority (CHFA) establishes maximum household income limits on most borrowers eligible for CHFA mortgages. The income limits vary by town and city to correspond with differences in cost of living and median incomes throughout the state. The income limits also differ between households of less than three residents and households of three or more residents.

**Your information will be sent securely through our system, directly to a Mortgage Loan Officer.

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