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Since 1997, Total Mortgage has been making mortgages easier. We offer some of the lowest rates and quickest closings in the industry. Call us today.

Total Mortgage Services, LLC - NMLS #2764

We understand that you're not just looking for a home... you also need a trusted financial partner to help you realize your dream. Since 1997, we've been improving the mortgage experience with low mortgage rates, creative solutions, and rapid responses. Total Mortgage believes you deserve a mortgage that's as individual as you are and a service that's the best in the industry.

Total Mortgage is focused on offering personalized service and extremely competitive mortgage rates. We offer some of the most competitive rates and fastest closing times in the country. Contact us today and find out how much you could be saving.

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185 Plains Road - 3rd Floor - Milford, CT 06461
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112 Posts
MassDREAMS: Closing Cost & Down Payment Grant for Homebuyers | Total Mortgage
MassHousing, an agency that provides financing for affordable housing in Massachusetts, and the Massachusetts Housing Partnership have come together to launch an initiative called MassDREAMS. This initiative delivers financial assistance in the form of grants to low and moderate-income homebuyers, helping them reach their goals even in a down economy. In Massachusetts, first-time home Buyers can receive $50,000 in grants. The grant funds don't need to be repaid. The funds don’t need to be repaid. They can... more
Connecticut Time To Own Loan: Forgivable Down Payment Assistance | Total Mortgage
What to Expect The CHFA's Time to Own program is a forgivable down payment assistance loan that aims to help prospective homebuyers who cannot afford down payment or closing costs on their own. The Time to Own loan is accessible to eligible homebuyers alongside a CHFA first mortgage loan to go toward the purchase of their first home. Loan Structure The Time to Own down payment assistance loan has a 10-year zero-percent non-amortizing term attached. For ten years, ten percent of the loan's principal amount is... more
What Is a 2/1 Buydown and How Does It Work? - Total Mortgage
A 2/1 buydown allows borrowers to pay more upfront while enjoying reduced interest rates for the first two years of their mortgage. Buydowns are arrangements that allow borrowers to more easily qualify for mortgages with a lower interest rate. Lenders often require either the seller or buyer to pay an extra fee for this financing agreement. If you don’t account for the lender’s fee, this could save the borrower $4,198. If the escrow agent doesn't send the payment. For more information, to the seller and... more
How Much Does It Cost To Build A House in 2022? - Total Mortgage
A study by the National Association of House Builders (NAHB) found that the average cost to build a house in 2022 was $296,652. Labor and material costs have risen sharply with the general cost of living in 2022. The cost of construction varies greatly from project to project but generally ranges from $100 to $200 per square foot. A three-year-old house could cost more than $100,000. A two-bedroom house can cost $300,000 and a three- year-old home could cost $100.000.
Adjustable-Rate Mortgage (ARM) – What Is It & How To Apply - Total Mortgage
Adjustable-rate mortgages (ARMs) are mortgage loans with interest rates that can fluctuate and change based on market conditions. If you’re looking for the lowest possible mortgage rate from the start, an ARM is usually the better choice than a fixed-rate mortgage. While an ARM might be advantageous at first, the fact that your monthly payments will shift over time can make it more difficult to budget. The possibility for higher monthly payments is the primary drawback. The option for higher Monthly payments... more
HELOC on Rental Property: Home Equity Line of Credit Explained - Total Mortgage
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Can You Cosign on a Loan? - Total Mortgage Blog

As the cost of living continues to climb, many are wondering whether they will ever be able to afford to buy a house on their own. A mortgage cosigner could be a solution

If you have bad credit but need a mortgage, asking a relative or friend to cosign the loan can be the answer – but before you go around asking, be sure you know what you’re getting into.

Can You Cosign on a Loan?

Yes, you can cosign on a mortgage. But whether you’re the one being asked to cosign or

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Can You Cosign on a Loan? - Total Mortgage

As the cost of living continues to climb, many are wondering whether they will ever be able to afford to buy a house on their own. A mortgage cosigner could be a solution

If you have bad credit but need a mortgage, asking a relative or friend to cosign the loan can be the answer – but before you go around asking, be sure you know what you’re getting into.

Can You Cosign on a Loan?

Yes, you can cosign on a mortgage. But whether you’re the one being asked to cosign or

... more
7 Refinancing Programs for Seniors - Total Mortgage Blog
Regardless of your age, the decision to refinance is a big one, and you should consider all of your options before settling on one, but is it the best choice for a senior? Reasons to Refinance for Seniors If you're living on a limited retirement income and already paid off your mortgage, you may wonder why you would want to refinance during your golden years. Find a Total Mortgage expert near you! 7 Refinancing Programs for Seniors Many retirees and those over the age of 60 worry that they won't be able to qualify... more
7 Refinancing Programs for Seniors - Total Mortgage

If you’re looking to save money or tap into some of your home’s equity, you may have considered refinance programs for seniors. You may have learned that although there are benefits, there are always worries, particularly when money is involved. 

Regardless of your age, the decision to refinance is a big one, and you should consider all of your options before settling on one, but is it the best choice for a senior?

Reasons to Refinance for Seniors

If you’re living on a limited

... more
Mobile Home Loan Options: Everything You Need to Know - Total Mortgage Blog
Mobile homes were made popular in the early 1900s, giving American workers a way to provide stability to their families. The U.S. government started to separate mobile homes from manufactured homes after two key events: the passing of the National Mobile Home Construction and Safety Act in 1974 and the implementation of HUD Manufactured Home Safety Standards two years later. Total Mortgage’s loan experts are standing by to help you to understand your options. To qualify for a conventional mortgage. There are... more
Mobile Home Loan Options: Everything You Need to Know - Total Mortgage

With inflation hovering at record levels, home ownership might seem out of reach for some. However, mobile homes are less pricey than brick-and-mortar homes and could place the American Dream within grasp for many.  Fortunately, a mobile home loan provides consumers with the financing and flexibility they need to afford their new homes.

And just because mobile homes are made in a factory doesn’t mean the buyer has to sacrifice style, space, or opportunities to tailor the layout on a floorplan that,

... more
Mobile Home Loan Options: Everything You Need to Know - Total Mortgage
6 Mortgage Options for Seniors - Total Mortgage Blog
There are several mortgage options for seniors to consider and some are designed with seniors in mind. Refinancing to lower monthly payments due to reduced income is a large amount of built-up equity. Cashing out part of the equity in your home is a possibility if you’ve built up your house and have paid off most of your mortgage. Cashing in your own house is a good option. If it is a new mortgage is a great way to get a new home. If the mortgage is the best option for a home that is not a mortgage, it can... more
6 Mortgage Options for Seniors - Total Mortgage
There are several mortgage options for seniors to consider and some are designed with seniors in mind. Refinancing to lower monthly payments due to reduced income is a large amount of built-up equity. Cashing out part of the equity in your home is a possibility if you’ve built up your house and have paid off most of your mortgage. Cashing in your own house is a good option. If it is a new mortgage is a great way to get a new home. If the mortgage is the best option for a home that is not a mortgage, it can... more
Do Student Loans Affect Credit Score? - Total Mortgage Blog
The better you manage different loans and lines of credit, the lower the potential risk. For Government Loans Federal student loans tend to be more lenient. Teachers can have up to $17,500 of their federal direct student loans forgiven by teaching for five consecutive academic years at a qualifying low-income school or educational service agency. If you have federal student loans, consider an income-driven repayment plan. Find ways to increase your income. If your budget is tight.
Do Student Loans Affect Credit Score? - Total Mortgage

Whether or not student loans affect credit score will depend on several factors. Overall, student loans can positively and negatively impact your credit score. If you make timely payments, it could be a good way to build your credit. If you miss payments, it could cause your credit score to drop.

If you’re worried about financial hardship affecting your student loans, there are options to protect your credit score from taking a significant hit. 

How Credit Score Is Calculated

Your

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How to Get Guaranteed Loan Approval - Total Mortgage Blog
Guaranteed home loans offer more people a chance at homeownership, but can everyone qualify? Guaranteed loan approval depends on the type of loan you're applying for and your mortgage lender, but many borrowers can qualify for a guaranteed loan even if they don't have the cash reserves or an impressive credit score. What Is a Guaranteed Mortgage Loan? A guaranteed mortgage loan is a home loan that a third party guarantees or assumes responsibility for if the borrower defaults on the loan. In many cases, a guaranteed... more
How to Get Guaranteed Loan Approval - Total Mortgage

Guaranteed home loans offer more people a chance at homeownership, but can everyone qualify? Guaranteed loan approval depends on the type of loan you’re applying for and your mortgage lender, but many borrowers can qualify for a guaranteed loan even if they don’t have the cash reserves or an impressive credit score. 

What Is a Guaranteed Mortgage Loan?

A guaranteed mortgage loan is a home loan that a third party guarantees or assumes responsibility for if the borrower defaults on the

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Understanding Conditional Approvals - Total Mortgage Blog
Conditional approval is a step in the right direction for potential homebuyers. Don’t expect the lender to issue a conditional approval before the property is professionally appraised. If the appraisal is too low, the lender could either reject the application or request that the buyer and seller return to the negotiating table to find a better price. When refinancing, an applicant does not need to receive a preapproval. The applicant doesn't need to get a pre-approval considering they will not be making an... more
Understanding Conditional Approvals - Total Mortgage

When it comes to real estate, homebuyers in the market look for any sign they can find that they are getting closer to owning the home of their dreams. Fortunately, lenders are keen to tip their hand to potential borrowers along the homebuying journey, helping to minimize the unexpected. One of those signals is known as a conditional approval, and while it is not a done deal, it is a step in the right direction for potential homebuyers. 

In this article, we will answer the question

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What Is a Down Payment? - Total Mortgage Blog
What Is a Down Payment? When it comes to real estate, a down payment is a lump-sum amount paid by the homebuyer. How Is the Down Payment Amount Determined? The size of a homebuyer's down payment requirement varies based on the type of mortgage for which they qualify. Below is a breakdown of the different kinds of mortgage products and the down payments associated with them: An FHA loan, which is one backed by the Federal Housing Administration, requires a down payment of at least 3.5% of the property's appraisal... more
What Is a Down Payment? - Total Mortgage

When it comes to reaching life’s major financial milestones, more times than not you will not be able to pay for the entire purchase in cash. That’s where the down payment comes in. It can be thought of as an investment in yourself, as it is helping you to achieve your financial goals, whether purchasing a new home or vehicle or furthering your education. 

Before you proceed with making a major purchase, you’ll want to consider this expense and the amount you can afford to pitch in toward the

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What Is House Hacking? - Total Mortgage Blog
House Hacking Explained House hacking is a real estate investment strategy that involves buying a single-family home or multifamily property and renting out portions of the home to generate income. You'll learn how to advertise your property, screen tenants, manage tenants, create rental agreements and contracts, and how to maintain your property and property finances. Possible tax benefits: You may be able to qualify for certain tax deductions through house hacking, such as repair costs and depreciation expenses... more
What Is House Hacking? - Total Mortgage

One of the biggest benefits of homeownership is the ability to build wealth over time. However, you only stand to make a profit after you sell. Using a strategy called house hacking, you can potentially generate passive income from your property to put toward your mortgage, household expenses, or even other investment opportunities.

House Hacking Explained

House hacking is a real estate investment strategy that involves buying a single-family home or multifamily property and

... more
Moving to Maine: Things You Need to Know Before Buying a House - Total Mortgage Blog
Out-of-state home buyers have jumped up to 30% of all home sales in Maine since the pandemic began. With so many people starting to purchase in the state, it can make getting a house much harder. Having above a 580 helps you to finance, but if you want a Federal Housing Administration (FHA) loan, you will want at least a 620. The fourth tip is to get a mortgage lender. You will generally have to show tax returns, W-2 statements, pay stubs, and to get a bank statements.
Moving to Maine: Things You Need to Know Before Buying a House - Total Mortgage

Moving across state lines can be an overwhelming experience. It’s hard enough to purchase a house you can’t see often, if at all, much less find a way to get there to sign all the paperwork. 

Having a mortgage lender on your side can help you ensure things are getting done as they should and you aren’t overlooking a step to get the financing you need to purchase the home.

So if you are deciding to move to Maine from another state, you’ve come to the right place. 

In this article,

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Moving to Florida: Things You Need to Know Before Buying a House - Total Mortgage Blog
We cover some important tips to keep in mind when purchasing a home in Florida and some of the things you should know. Tips for Moving to Florida From Another State When picking out a home in Florida, it is important to fully understand where you are moving to. Total Mortgage has branches throughout Florida, including Vero Beach, Fort Myers, Jupiter, Pembroke Pines, and West Palm Beach, Many of our locations also work with their surrounding area, so even if you aren't directly moving into that town or city,... more
Moving to Connecticut: Things You Need to Know Before Buying a House - Total Mortgage Blog
We will even give you an idea of down payment help and some lending agents that can help you make the final purchase of your dream house a possibility. Tips for Moving to Connecticut From Another State When moving to Connecticut, there isn't much that you need to buy a home there compared to any other state. The fears of moving are much lower when you have a good real estate team on your side to help handle all the legalities. There is also SmartMove Connecticut which helps you receive funding for a 25% sales... more
How to Choose a Mortgage Lender - Total Mortgage Blog
A good rule of thumb is to find out your credit score several months before attempting to choose a mortgage lender. You can still visit your local bank branch and apply for a mortgage loan the old-fashioned way, or you might be able to apply online. Online Mortgage Lenders are no longer limited to legacy financial institutions when choosing a mortgage lenders. If it is speed, agility, and efficiency you’re after, online mortgage lenders could be the solution. Online mortgage lenders can be the answer.
How to Tell the Difference Between Prequalified vs. Preapproved - Total Mortgage Blog
A mortgage prequalification is a feature provided by lenders to let potential home buyers know what price range they can afford for a property and an approximate interest rate on the mortgage loan. There are critical differences between prequalified vs. preapproved, with the prequalified more general and the preapproval more formal in nature. A pre Qualified is not something you submit along with an offer can be used to convince the seller of a property. A letter can be beused to convince a buyer to move forward.... more
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