The Best Mortgage Lenders in Putnam, CT
Compare verified mortgage lenders serving Putnam, Connecticut. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Putnam
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender with a strong local presence in Eastern Connecticut, including Putnam. Known for exceptional customer service and competitive rates, they have a dedicated branch in Danielson just minutes from Putnam. They excel in various loan types and have a reputation for quick closings and personalized guidance, backed by high customer satisfaction ratings and decades of experience in the mortgage industry.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender with a robust presence in Connecticut, serving the Putnam area through their Hartford office. They are praised for their digital mortgage platform, which streamlines the application process, and offer competitive rates across a wide range of loan products. With high customer ratings for reliability and efficiency, they provide expert service for both purchase and refinance loans in the region.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a highly rated lender with a strong commitment to community-focused lending in Connecticut, including the Putnam area. They are known for their fast processing times and excellent customer service, particularly for first-time homebuyers and VA loans. With a local office in Bristol, they offer personalized support and competitive rates, making them a trusted choice for mortgages in the region.
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Frequently Asked Questions
Common questions about mortgage lending in Putnam, CT
What are the current mortgage rates like in Putnam, CT?
Mortgage rates in Putnam are generally competitive with national averages but can vary based on local lenders and property types. As of recent trends, rates for 30-year fixed mortgages typically range from the mid-6% to low-7% range, though it's best to check with local credit unions like Putnam Bank for potential special programs. Your specific rate will depend on credit score, loan type, and down payment amount.
Are there any first-time homebuyer programs specific to Putnam?
Yes, Putnam homebuyers can access Connecticut's CHFA (Connecticut Housing Finance Authority) programs, which offer competitive interest rates and down payment assistance. Additionally, some local lenders may offer special programs for first-time buyers purchasing in Putnam's designated revitalization areas. These programs can provide significant savings through lower rates and reduced closing costs.
How does Putnam's historic district affect mortgage lending?
Purchasing a home in Putnam's historic district may require additional considerations, as some lenders might have specific requirements for older properties. You may need specialized inspections and potentially a different appraisal approach. Some renovation loans like the FHA 203(k) can be particularly useful for historic homes needing updates while preserving their character.
What types of properties are most common in Putnam's mortgage market?
Putnam's mortgage market primarily consists of single-family homes, many of which are historic properties, along with multi-family homes that are popular for investment properties. The area also sees significant activity with homes needing some renovation, making renovation loans particularly relevant. Condominium financing is less common but available in newer developments.
Are there local down payment assistance programs available for Putnam homebuyers?
Yes, through Connecticut's Time To Own program, Putnam homebuyers may qualify for up to $50,000 in down payment assistance as a second mortgage. Local lenders like Savings Institute Bank & Trust often participate in these programs. Additionally, the town occasionally offers local grants for homebuyers in specific neighborhood revitalization areas.
Nearby Cities
Explore mortgage lenders in cities near Putnam, CT
Why Choose a Mortgage Lender in Putnam?
Local Market Knowledge
Lenders who understand Putnam'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 Putnam and get competitive rates on your home loan.