Total Mortgage

Total Mortgage

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.

Contact Info
185 Plains Road - 3rd Floor - Milford, CT 06461
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65 Posts
Mortgage Lending Options Available for LGBTQ+ Couples - Total Mortgage Blog
The omission of sexual orientation from these two powerful laws can be the reason why some LGBTQ couples do not receive the loans they qualify for if the lender is discriminatory. Working with a mortgage lender who is an expert in their state or area, such as the ones from Total Mortgage, is great utility to you. Getting a mortgage loan from a good lender means finding a lending company that knows the local, state, and federal laws, and abides by them. To find a good mortgage lending company, there are a few... more
How to Fix Credit Scores: 4 Steps to Repairing a Bad Credit Score - Total Mortgage Blog
A credit score is a three-digit number that reflects the risk a potential borrower poses to lenders. Lenders use it to determine whether someone is worthy of credit or how much they should be lent. The higher the score, the more likely the borrower will make payments on time. A score in the 580 to 669 grouping is only fair and might not qualify potential borrowers for mainstream loans. Lenders are likely to reject mortgage applications. A Score in the 500-669 grouping are only fair. A to 669 is only good and... more
Five Ways to Turn Your Backyard into a Summer Oasis - Total Mortgage Blog
Right? Possibly the best way to start your backyard makeover is by creating a deck or patio-not only does it create more living space, but it's also cheap and low-maintenance. Add Furniture for Lounging It's easier to spend time in your backyard when you create a comfy space for yourself and your friends-that's why adding seating is a key part of maximizing your yard's potential. Add Some Greenery If you're looking for an easy way to add some natural beauty to your backyard, you can't go wrong with planting... more
Employee Spotlight: Carmen Roman
Carmen is the Social Media Manager at Total Mortgage and usually the person putting together the employee spotlights. She is a New Haven, CT native and received her Bachelor’s degree in Business Administration with a concentration in Marketing. Her favorite thing to do is to sit outside in her backyard by the water. Her fiance and dog Zuko are there. She loves any Puerto Rican cuisine. She is always down for sushi. If someone was going to visit a local spot. If you were going to visiting your hometown, what... more
Loan to Value Ratio: What Is a Good LTV and How to Calculate It
A loan to value ratio is a metric that compares the size of a homebuyer’s mortgage to the value of the property after the appraisal. Lenders are generally looking for an LTV ratio of 80% or lower, though their maximum LTV standards could vary. For mortgage loans in which lower down payments of 3.5% are allowed, such as an FHA loan, the borrower might be expected. The borrower may be expected to continue to continue. The PMI, the borrowers may be to continue.
What is Compound Interest on a Loan?

When taking out a loan, there are many aspects to consider. Inevitably, you will have interest on the borrowed amount, which can be simple interest or compounded interest. 

Compounded interest is compounded daily, monthly, or annually. When compounding occurs, the interest is added to the amount owed. It can provide lower interest rates, but it’s also riskier than simple interest.

In this article, you will learn what compound interest is, how compound interest works, and what the benefits

... more
Getting Approved for a Mortgage: Mortgage Pre-Approval Checklist
There are several items you will need to get pre-approval for a mortgage. Lenders are more likely to provide a loan for a loan to a buyer. Lender needs to be a lender. Lenders need ample evidence that you have a consistent way to make money and pay off the debt. Explore one of Total Mortgage’s many locations to find the best loan options for you. Let us help.
What Is Debt-to-Income Ratio and How Is DTI Calculated?
Lenders look for a low debt-to-income ratio because it shows that you’re more likely to make monthly payments. The lower your DTI, the better your chances of getting a loan or line of credit. A low DTI means a potentially lower interest rate and better loan terms. A better rate lowers the amount of interest your pay over the life of the loan. If you have any questions, schedule a meeting with one of our mortgage experts. Apply online today and get a free rate quote.
What Is a USDA Home Loan?
Thanks to the expansion of the USDA program, borrowers looking to purchase a property or refinance one in rural or even suburban areas could qualify for a USDA home loan even if they don't meet the standard for a traditional mortgage loan. Chief among the perks associated with a USDA home loan is the no down payment feature, differentiating a USDA home loan from other mortgage products. Do USDA Loans Have PMI? A common question around USDA loans is 'do USDA loans have PMI?' PMI stands for private mortgage insurance.... more
What Is Private Mortgage Insurance? How it Works and How to Avoid Paying PMI
Private mortgage insurance, or PMI, allows borrowers to purchase a home without making a 20% down payment on a conventional mortgage. Let's take a look at private mortgage insurance, how much it impacts the cost of your mortgage, and how to avoid paying PMI. What Is PMI and Why Do You Pay PMI? PMI is a type of mortgage insurance that borrowers are typically required to pay on a conventional mortgage if they make a down payment of less than 20% of the home's purchase price. Mortgages insured through the Federal... more
What Is the APR on a Mortgage? How it Works and How it Affects Your Mortgage
What Is APR? The annual percentage rate, or APR, is the true annual cost of borrowing from a lender to finance the purchase of your home. Your interest rate is listed on page 1 under "Loan Terms," and the APR on page 3 under "Comparisons." How Does APR Work? Knowing what the APR is on a mortgage and how it impacts your loan is an important part of mortgage shopping. Your APR can include: InterestPointsOrigination feesMortgage broker feesClosing costsMortgage insurance Your home loan's APR is calculated by determining... more
What Is Mortgage Amortization? How it Works and How to Calculate
Each mortgage payment has a fixed amount and date that’s paid each month. With an adjustable-rate mortgage, the initial interest rate is fixed for a set period. The Amortization schedule for an ARM might be more of an estimate. For an ARM, the average interest rate can change. Some lenders may charge a penalty. As the loan matures, the interest rate.
Employee Spotlight: Cristin Fitzpatrick
Cristin Fitzpatrick graduated from The University of Connecticut with a B.A. in Psychology has studied Organization Development at a Masters Level at American University and is a Certified Professional Coaching graduate from one of the country’s leading coaching schools. She has over 10 years of experience in the real estate and mortgage industry and works... View Article
Good Landscaping Can Add 10-15% to the Value of Your Home
Studies show that landscaping can add 12 to 15 percent to the value of your home.  All you need is a green thumb to put some extra green in your pocket. Landscaping is more than flowers and shrubs.  Upgrades can involve things like patios and decks, flowerbeds, barbecue pits, watering systems, and plants of all... View Article
Mortgage Monday – May 16, 2022
In today’s mortgage environment, informed homebuyers are successful homebuyers. Let’s get right into the latest news with this week’s Mortgage Monday update!
Employee Spotlight: Ashley LaDore
Meet this week’s employee spotlight – Ashley LaDore! What motivates you to wake up and go to work?Being able to go into work to see my co-workers and friends is what motivates me. What do you enjoy doing in your free time?Lately I have been reading a lot and going to the gym but my... View Article
Mortgage Monday – May 9, 2022
As the mortgage rate environment continues to change, today’s prospective homebuyers should be more vigilant than ever in their search. Let’s cover the latest news in this week’s Mortgage Monday update! Rates Update Last week, Freddie Mac reported significant mortgage rate increases for most major loan products. Just as we’ve observed since the start of... View Article
What Is a VA Home Loan? Requirements, VA Loan Process, and More
Planning to purchase a home or refinance an existing one? If you served in the military or you’re a surviving spouse, then a VA home loan may be an option worth considering. However, you must meet requirements set by the U.S. Department of Veterans Affairs (VA) as well as lender credit and income conditions to... View Article
What Credit Score Is Needed to Buy a House?
When it comes time to purchase a house, a potential buyer’s credit score plays a critical role in the lender’s decision. If you are asking yourself, ‘what is the perfect credit score?’ the answer is that it depends.  Various factors are at play to determine the credit score needed to buy a house, and different... View Article
How FHA 203K Loans Work and How to Qualify
For buyers working with a budget or current owners looking to upgrade their home, an FHA 203k loan comes with many benefits. Not only do FHA 203k loans wrap your renovation costs and mortgage into one payment, but it typically has easier income and credit requirements as well as a low down payment option. Here’s... View Article
No-Doc Mortgage Loans: What Are They and How Do They Work?
Potential homebuyers who are not employed full-time or whose income is considered irregular may not have the proof of employment typically associated with a mortgage. However, these consumers do not have to abandon their dreams of becoming homeowners altogether.  Instead, they could qualify for a no-documentation mortgage, also known as a no-doc mortgage, no-income verification... View... more
Does Mortgage Pre-Approval Affect Credit Score? Here’s What You Need to Know
When you’re searching for your new home, a mortgage pre-approval will not only tell you what you can afford but can also help you stand out as a serious buyer. However, you’ll want to protect your credit score while you’re shopping for the best rate. So, does a mortgage pre-approval affect credit score? Here’s how... View Article
How Are Interest Rates Determined and How Do They Work?
Interest rates are a big concern when mortgage shopping, but how are interest rates determined? A lower interest rate makes monthly mortgage payments more affordable while a higher interest rate can make it difficult to get approved for a loan.  Interest rates are influenced by a variety of factors and can affect the cost to... View Article
How to Use Gift Money for a Down Payment
Gift money is a cash donation — usually from a close relative — that you can use for your down payment, closing costs, and other fees. However, there are a few rules and requirements to keep in mind when using gift money for a down payment on a home.  Here’s what you need to know... View Article
Home Loan Offset Account: What Is It and How Does It Work?
If you don’t want to feel stuck with a mortgage for longer than you have to, there are a number of ways to reduce the interest you’ll pay over time and shorten your home loan’s life. One of the ways you can accomplish this is through a home loan offset account.  In this article, we’re... View Article
Pros and Cons of FHA Loans
Ready to purchase a home? There are several financing options to consider, including FHA loans. FHA loans are typically easier for borrowers to get approved, but you should weigh FHA loan pros and cons to make the most informed decision.  What Is an FHA Loan? An FHA loan is regulated and insured by the U.S... View Article
FHA vs. Conventional Loan: Understanding the Differences and Benefits
FHA loans are easier to qualify for and require a lower down payment, compared to conventional loans. This makes FHA loans more affordable for lower-income borrowers or those who want to own a home but are actively working to improve their credit. If you have a high enough credit score and a low debt-to-income ratio,... View Article
Mortgage Monday – April 25, 2022
Mortgage rates are rising and the Federal Reserve is set to meet next week. Let’s get right into the latest news and cover our predictions in today’s Mortgage Monday update! Rates Update For the seventh week in a row, Freddie Mac reported mortgage rate increases in their weekly Primary Mortgage Market Survey. According to their... View Article
Employee Spotlight: Juan Santana
Meet this week’s employee spotlight – Juan Santana! What motivates you to wake up and go to work?I’m motivated every single day by my daughter and love of my life, Penelope. What do you enjoy doing in your free time? love to read and draw, but who really has free time?. What would you do for... View Article
Mortgage Monday – April 11, 2022
It’s time for our weekly Mortgage Monday update! Let’s cover the most recent news regarding mortgage rates, the state of the industry, and more. Rates Update Last week, mortgage rates started off slow but ultimately continued climbing upward. Recent turbulence can be attributed to Federal Reserve Governor Lael Brainard’s words last Tuesday, when she said... View Article
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