Higgins Group
Adriana & Company
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Fixed Rate Mortgages Fixed Rate Mortgage means that the interest rate for the full term of the mortgage is locked and cannot change. This principal and interest portion of the loan will remain the same during the repayment of your mortgage over the life of the loan. Although your monthly escrow payment may fluctuate based on increases in taxes and insurance, the monthly payment associated with the repayment of the outstanding mortgage balance remains fixed.


Adjustable Rate Mortgage (ARM) traditionally has a lower interest rate at the beginning of the mortgage which changes over time based on an index. There are many types of adjustable rate mortgages and the terms of the payment change are based on the specifics of the adjustable rate mortgage product you select. ARMs have a low and high limit on how much your payment can change over a period of time and the term of your loan. The perception is that over an extended period of time ARM loans will have lower interest expenses than fixed rate loans. To get this benefit, you must be willing to live with both changes up and down in your interest rate and your payment. If you’re comfortable with this uncertainty, then there is a good chance that you can save on your interest expense. ARMs have always attracted buyers who expect to be in the house for only a few years. For example, the interest rate on a 5/1 ARM is set for the first five years and is then adjusted annually thereafter. If you know you are going to stay in the home for no longer than five years, reaping the benefits of the low rate the first five years makes sense. Conventional loans are not insured or guaranteed by the federal government; they most likely have no insurance or are traditionally insured by private mortgage insurance companies.


Conventional Loans are probably the most popular loan of all loans and are used to purchase or refinance single family houses, in Connecticut and all other states. Minimum down payments are generally 5% and loans with 20% down payments don’t require the additional expense for mortgage insurance. They usually adhere to Fannie Mae/Freddie Mac approval guidelines. Government loans are insured by departments within the US government like the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). Government Loans offers lower down payment options for homebuyers with competitive mortgage rates.


Qualifying for a FHA loan is easier than any other loan. FHA Mortgages help low- and moderate-income Connecticut homebuyers purchase homes with low down payments and flexible qualifying guidelines. These loans are insured by the Federal Housing Administration (FHA), which sets maximum loan limits that vary by area. With an FHA mortgage, you can use a gift or unsecured loan for down payment and closing costs. FHA mortgages are available in fixed rate and adjustable rate mortgage options. This loan type can help you afford a bigger home with the least amount of cash compared to other loan programs. VA Mortgages are home loans that are guaranteed by the Department of Veterans Affairs (VA) and are a no down payment loan that is ideal for veterans or active duty members of the U.S. Armed Forces with the requisite remaining eligibility. If you’ve been in the military and currently live in Connecticut, be sure to explore this opportunity.


CHFA Mortgages are unique to Connecticut. If you intend to buy your first home in Connecticut, you should consider the CHFA program made available through the Connecticut Housing Finance Authority (CHFA). Borrowers benefit from low interest rates, an easy lending process and low down payments. This program offers homeownership opportunities to those who might not benefit from conventional lending programs. Qualified borrowers must fit CHFA’s criteria in order to participate in the program, including loan and income limits.


There are many special options under the CHFA mortgage program that may make buying your first home affordable: ·         Lending in federally targeted areas ·        

Down payment assistance ·        

Military, police and teacher programs ·        

Property rehabilitation options under the FHA 203K program ·        

Section 8 Housing Choice ·        

Urban rehabilitation homeownership mortgage program


Jumbo Mortgages are loans that are over a certain dollar value set by Fannie Mae and Freddie Mac. This dollar value, known as the “conforming loan limit,” helps to define the loan sizes that these two government sponsored enterprises will guaranty in an effort to bring liquidity to the mortgage market. Jumbo loans are traditionally used to purchase “luxury homes” because the dollar value set by Fannie Mae and Freddie Mac is higher than most average home prices in the area. Due to the larger loan amount, there are usually higher interest rates associated with jumbo mortgages.


Rehabilitation Mortgages are loans to purchase and improve a property. ·        


FHA 203K ·        


Urban rehabilitation homeownership mortgage program


Improvements to your \property can help you customize your home with features like the installation of an additional bath; remodeled kitchen with new appliances; roof, gutter and downspout; floor, tiling and carpeting…and so much more. Rehabilitation loans are a more complicated mortgage type and require some additional consideration for the value of the repairs and improvements prior to approval. If you are considering a rehabilitation or home improvement loan for your property, be sure to discuss your options in detail with one of our licensed loan originators.  


For more information click here for Zillow's Mortgage Learning page


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What my clients are saying  

When my fiancée and I made the decision to purchase our first home, we had nothing and we had no one. We were blind, yet we entered the fog. On our very first viewing, we met Robin, who was the agent for said property. After only ten minutes, we felt a bond happening and asked if she'd be able to show us more properties. She agreed and a few properties later, we found our dream home. Most people end the relationship with their realtor after closing but it's different with Robin. We now consider her a friend, and look forward to spending time with her at our new home. For us, it's Robin Helburn and there's no one else. My fiancée and I have rented condos and houses so we've dealt with a realtors. Robin Helburn is a gem. No pressure, no gimmicks. Only outstanding performance and her warm, caring personality. If you're currently in the market for real estate in the near future, do yourself a huge favor and hire Robin Helburn - watch great things unfold. You'll be happy you did...


~ Alison & George

driana brought an incredible amount of experience and professionalism to our home buying experience. She took the time to listen to what we were looking for in a house and set up appointments accordingly. She always responded to our questions promptly and went the extra mile in guiding us throughout the entire process. We are extremely happy with the home we purchased with her assistance and we would highly recommend her to anyone else in the market for a new home


~ Mike Boskello

I am so lucky to have Adriana as my agent! I worked with one agent for a couple weeks but she wasn't responsive so I tried to find another one. I saw Adriana has good reviews on Zillow so tried to call her. She's so nice and knowledgeable about the Stamford market. So I decided to work with her on my purchase. After 5 months of searching, viewing at least 50 properties altogether I picked a condo in downtown Stamford. With Adriana's help my whole buying experience was so smooth. Adriana and I become good friends now. I strongly recommend Adriana as a real estate agent.


~ Jiangxiao Zhu

I have been in the Real Estate business since 1996 and contacted Adriana to assist in the sale of my father's house in CT. This was after my father had tried a few other agents on his own and the house sat for a few years. Adriana assessed the property and recommended some changes and updates. Where she separated herself from other agents is that she was personally involved in scheduling and performing these updates. Although I live out of state, I received constant progress reports. The house then sold quickly with some skillful negotiation from Adriana. I have since worked with Adriana with an investment sale in CT and was again impressed with her quick response and knowledge of the market. Our business relationship is not over as we are working together on another property, so although I highly recommend her, please do not all call her at once as she is my secret real estate weapon :)


~ John Gravener

Adrianna Morrell sold our home this past year and we can honestly say she is without a doubt the best selling agent we have ever had. We have sold many homes over the years with different agents so this certainly says a lot about her skills. Adrianna is an exceptional agent as she is professional, personable, and determined. One of the qualities about Adriana that we personally valued the most was her ability to communicate promptly and effectively with us as well as with the buyer’s agents/potential buyers. For instance, as Adrianna negotiated our deal, she made all parties feel comfortable and eager to complete the deal. As a result, our closing was the most painless and cordial one we ever had. We would certainly use Adrianna as our real estate agent in the future and we would also highly recommend her to anyone who needs a competent, energetic, and dedicated real estate agent to sell or buy his or her home.


~ Jeff Thomas

Adriana was an excellent guide for us for our first home buying experience. My husband and I had been looking in 3 different states for about 2 years prior to meeting Adriana, and by that time we had felt that maybe what we wanted just wasn't out there in our price range and desired commuting distance. We felt that other realtors we had worked with just didn't understand what we were ultimately looking for. It was important to us to find that "fit" where we felt like we could put down roots in a new community, and make a home. Adriana was the one who assured us that we were on the right path and that we would love living in the town we chose, and would be able to fix up what was to become our new home. She guided us every step of the way and made us feel comfortable in our decision as well as negotiations with the seller. We feel that we were able to make a good deal on a vintage house that needs some TLC, but already feels like the home we've been looking for all these years


~ Stephanie Lofaro

Adriana Morrell is a force of nature. I told her I needed to sell my townhouse quickly, and she sold it within 30 days of listing at asking price, which was $100k more than I’d paid for it two years earlier. She is straightforward, honest, and delivers results. Take it from an old Infantry Officer . . .Adriana will get the property sold, or find you what you want to buy. This woman doesn’t sleep, and is 100% focused on her clients!


~ Barry Greene

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