The Best Mortgage Lenders in Shelton, CT
Compare verified mortgage lenders serving Shelton, Connecticut. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Shelton
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in Connecticut, known for its competitive rates and digital mortgage process. They excel in customer service with high ratings for transparency and efficiency, offering a wide range of loan options. Their Hartford office serves Shelton residents with personalized support, making them a reliable choice for homebuyers seeking fast closings and expert guidance.
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Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a highly reputable lender with a branch in Milford, CT, just minutes from Shelton. They are praised for their exceptional customer service, local expertise, and competitive loan products. With a focus on community involvement and educational resources for borrowers, they provide tailored solutions for various needs, including first-time homebuyers and refinancing, backed by decades of experience.
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loanDepot
loanDepot, LLC
loanDepot is a nationally recognized mortgage lender with a physical office in Shelton, offering innovative technology and a wide array of loan options. They are known for competitive rates, a streamlined application process, and strong customer satisfaction. Their local presence ensures personalized service for Shelton residents, with expertise in both purchase and refinance loans, making them a convenient and trusted choice.
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Frequently Asked Questions
Common questions about mortgage lending in Shelton, CT
What are the current mortgage rates like in Shelton, CT compared to the national average?
Mortgage rates in Shelton typically align closely with national averages, but local competition among lenders can sometimes create slightly better terms. Currently, rates in Fairfield County tend to be competitive due to the active housing market. It's wise to compare offers from both local Connecticut banks and national lenders for the best rate.
Are there any first-time homebuyer programs specific to Shelton that can help with down payments?
Yes, Shelton homebuyers can access the Connecticut Housing Finance Authority (CHFA) programs, which offer competitive interest rates and down payment assistance. While not exclusive to Shelton, these state programs are widely used here and can be combined with certain local initiatives. Many Shelton buyers benefit from CHFA's low down payment requirements and closing cost assistance.
How does Shelton's property tax rate affect my mortgage payments and affordability?
Shelton's current mill rate of approximately 25.75 mills means property taxes are a significant factor in your monthly mortgage payment through escrow. This rate is moderately high for Connecticut but lower than many neighboring cities. When calculating affordability, factor in that property taxes can add several hundred dollars to your monthly payment depending on home value.
What special considerations should I know about getting a mortgage for homes in Shelton's flood zones near the Housatonic River?
Homes in Shelton's designated flood zones, particularly near the Housatonic River and Means Brook, will require separate flood insurance, which your lender will mandate. This additional insurance cost must be included in your debt-to-income ratio calculations. It's crucial to verify flood zone status during your due diligence, as this affects both mortgage approval and ongoing housing costs.
Are there any local mortgage incentives for buying in specific Shelton neighborhoods like downtown or Huntington Center?
While Shelton doesn't offer neighborhood-specific mortgage programs, the city's ongoing downtown revitalization and proximity to major employers make certain areas particularly attractive to lenders. Properties in walkable areas like downtown may qualify for better terms due to their strong resale potential. Some local lenders may offer special programs for energy-efficient homes throughout Shelton's various neighborhoods.
Why Choose a Mortgage Lender in Shelton?
Local Market Knowledge
Lenders who understand Shelton'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 Shelton and get competitive rates on your home loan.