FHA Loan

FHA Loan

What is an FHA Loan?

FHA loans are government-backed mortgage loans insured by the Federal Housing Administration. Since these loans are insured by the government  they do require monthly private mortgage insurance (PMI) but also have easier credit qualifying guidelines, relatively low closing costs (that can be bundled into the loan), as well as down-payment requirements as low as 3.500%. They also allow the use of gift funds for 100% of the borrower’s closing costs and/or down payment! These loans are available for 1-4 unit primary residential properties and can be adjustable-rate or fixed-rate mortgages.

FHA loans are also assumable, meaning someone with an FHA loan can pass it on to you if the interest rate is favorable relative to current market rates, or vice-versa. Just note that the individual assuming the FHA loan must qualify under the same underwriting guidelines that apply to new loans. Remember…be sure to compare FHA loans with conventional loans as well. There will be cases when the benefit of one outweighs the other. That’s where the importance of using an experienced residential mortgage broker who is knowledgeable about the various, and sometimes complicated, loan programs available.

That’s where Global Unity Mortgage comes in!

Under the guidance of veteran broker Gary Cutler, Global Unity Mortgage puts their clients first by responding quickly to inquiries and going the extra mile to find the best lending program available for their specific needs, and they have hundreds of satisfied clients throughout Connecticut to prove it. Contact us here, call us today at 860-872-9479 or email us at globalu@sbcglobal.net for reliable FHA mortgage assistance and fast Pre-Qualifications.

At Global Unity Mortgage…your business means the world to us!!!


Serving First-Time Homebuyers and FHA borrowers in Manchester CT, Vernon CT, Hartford, New London, New Haven and the entire state of Connecticut!


Getting started is easy. We offer very competitive rates, have great service, and always close on time.


Global Unity Mortgage
Broker NMLS #65392, MLO NMLS #114499, CT. LIC.#19449
"Mortgage Broker Only, not a Mortgage Lender or Correspondent Lender"


Equal Housing Lender

Contact Us

Global Unity Mortgage
71-1 Wilson Lane
Vernon, CT 06066

(860) 872-9479


Mortgage Brokers