|Loan Term (Years)||5 - 30 years|
|Credit Score Range||N/A|
|No Origination Fee||N/A|
Connex CU Home Loans Review
Connex CU Home Loans is offered by connex credit union, a credit union founded in 1940 and based in North Haven, CT. connex mortgage loans are available in 50 states (and Washington, DC).
- 3 different mortgage programs offered. Connex CU Home Loans offers FHA, FHA 203k, jumbo, and conventional mortgages.
- Financing for single-family and multi-family properties. However, Connex Credit Union does not offer financing for manufactured homes.
- Standard interest rates types. Connex CU Home Loans offers adjustable-rate mortgages and fixed-rate mortgages.
- Only primary residences considered. Connex CU Home Loans does not offer financing for vacation homes or investment properties.
- Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Connex CU Home Loans Pros & Cons
connex mortgage loans FAQ
What is the maximum loan term you can get with connex mortgage loans?
connex mortgage loans offers mortgages with terms ranging from 5 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What mortgage rates does Connex Credit Union offer?
Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.
connex mortgage loans offers home loans with APRs starting at 5.610% and up to 6.829%.
Do they charge mortgage origination fees?
Yes, connex mortgage loans may charge a loan origination fee.
What mortgage programs are available?
Besides conventional mortgages, connex mortgage loans offers the following mortgage types:
- FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- FHA 203k: An FHA mortgage you can also use to finance home improvements.
- Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($726,000 as of 2023).
What property usage types does connex mortgage loans allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. connex mortgage loans allows the following property usage types:
- Investment properties and house flipping projects
What is the customer service phone number?
The customer service number for Connex CU Home Loans is (203) 603-5700.
What is the support contact email?
The support contact email for is email@example.com.
Other Services by Connex Credit Union
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- Washington, DC
- West Virginia
|Employment Statuses Considered||
|Joint Loan Applications Accepted||
|Verification Documents Required||
5.610% - 6.829%
|Loan Term||5 - 30 years|
|Interest Rate Types Offered||