The Best Mortgage Lenders in Durham, CT
Compare verified mortgage lenders serving Durham, Connecticut. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Durham
Featured Mortgage Lenders
Primary Residential Mortgage, Inc.
Primary Residential Mortgage, Inc.
Primary Residential Mortgage, Inc. (PRMI) is a highly-rated mortgage lender with a strong local presence in Middlesex County, serving Durham and surrounding areas. Founded in 1998, PRMI has built a reputation for exceptional customer service, competitive rates, and a wide range of loan options. They are known for their personalized approach, with loan officers who take time to understand individual needs. Their high rating and substantial review count reflect consistent customer satisfaction, making them a top choice for homebuyers in the region. PRMI is licensed and compliant, with decades of experience in the Connecticut market.
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Movement Mortgage, LLC
Movement Mortgage, LLC
Movement Mortgage is a reputable lender with a significant footprint in Connecticut, including service to Durham residents. Founded in 2008, they emphasize fast closings and transparent processes, earning high marks for customer service and reliability. Their loan specialists are skilled in navigating various mortgage types, and they offer competitive rates with a focus on community engagement. With hundreds of positive reviews, Movement Mortgage is praised for their responsiveness and expertise, making them a trusted option for both new and experienced homebuyers in the area.
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Guaranteed Rate, Inc.
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local office in Hartford that actively serves Durham and central Connecticut. Since its founding in 2000, the company has been recognized for innovation, including digital tools that simplify the mortgage process, and for offering highly competitive rates. They boast an excellent rating driven by thousands of satisfied customers, with a focus on efficiency and customer support. Their extensive experience and high review count underscore their reliability and commitment to helping borrowers achieve their homeownership goals with tailored loan solutions.
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Frequently Asked Questions
Common questions about mortgage lending in Durham, CT
What are the current mortgage rates like for homes in Durham, CT?
Mortgage rates in Durham typically align with national averages but can be influenced by local market conditions. As of recent trends, rates for 30-year fixed mortgages in the area range from 6.5% to 7%, though this varies by lender and borrower qualifications. It's advisable to compare offers from local Connecticut lenders who understand the Durham market.
Are there any first-time homebuyer programs specific to Durham, CT?
Yes, Durham homebuyers can access Connecticut's statewide programs like CHFA (Connecticut Housing Finance Authority) loans, which offer competitive rates and down payment assistance. These programs are particularly valuable in Durham's market, where median home prices are around $400,000, helping make homeownership more accessible with lower down payments and favorable terms.
How does Durham's rural character affect mortgage lending requirements?
Durham's rural setting means some properties may be on well and septic systems rather than public utilities, which can affect loan approval. Lenders may require additional inspections for these systems, and USDA loans (which are designed for rural areas) might be available and beneficial for eligible borrowers seeking low-down-payment options in Durham.
What should I know about property taxes when getting a mortgage in Durham?
Durham has a property tax rate of approximately 32.5 mills ($32.50 per $1,000 of assessed value), which is relatively moderate for Middlesex County. Lenders will include these taxes in your monthly mortgage payment via an escrow account, so it's important to factor this into your overall housing budget when considering homes in the area.
Are there any local down payment assistance programs for Durham homebuyers?
While Durham itself doesn't offer city-specific programs, buyers can leverage Connecticut's Time To Own program, which provides down payment assistance up to $50,000 for eligible borrowers in the form of a second mortgage. This can be particularly helpful in Durham's competitive market, where down payments can be a significant barrier to entry.
Why Choose a Mortgage Lender in Durham?
Local Market Knowledge
Lenders who understand Durham's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Connecticut.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Durham and get competitive rates on your home loan.