Buyer’s Boost Mortgage
10% down and No PMI
Our Special Home Loan Program for Borrowers with Strong Credit Scores.
Features of a TSB Buyer’s Boost Mortgage:
TSB Buyer’s Boost Mortgage Program allows well-qualified borrowers to get our competitive rates while putting as little as 10% down.
Even better – there’s no Private Mortgage Insurance (PMI) to pay with this home loan program, so you get a mortgage with the all the benefits of a great rate and a lower down payment but without the extra monthly expense of PMI. Best still – this program is available to you whether you’re a first time home buyer or have bought houses before. If you’ve got a credit score of 720+ and the property is in Connecticut, you can apply for a Buyer’s Boost Mortgage to purchase your next home.
- Requires at least 10% down payment
- No PMI required
- Requires minimum credit score of 720
- Available up to $1,089,300.00
- Program available for qualified applicants on purchases of owner-occupied 1 or 2 family homes or condos in CT
How Can We Help?
Explore Our Other Options
Refi Boost
Torrington Savings Bank’s Refi Boost allows well-qualified borrowers to refinance and get competitive rates and No Private Mortgage Insurance.
Mortgage Refinancing
When it comes to a home loan, lower rates are not always better. Since you bought your home, your individual needs and circumstances might have changed, but are you a good candidate to refinance?
Construction Mortgage
A Torrington Savings Bank Construction Mortgage is a great option to finance home construction.
Jumbo Mortgage
Jumbo mortgage is the industry term for home loan amounts ranging from $726,201 to $2,000,000.
Conventional Mortgages
Torrington Savings Bank conventional mortgages offer great rates with flexible term options, and low fees & closing costs.
First Time Homebuyers
TSB helps first time borrowers become new homeowners with a special program designed to make buying a first home more affordable.
Buyer's Boost Details:
Buyer’s Boost – Purchase – No PMI – Fixed Rate
Maximum loan limit is $726,200.00 Payment example: $100,000.00 loan at 4.75% for 360 months (30 years) is a monthly payment of $521.65. This does not include taxes or insurance escrow. APR’s based on $100,000.00 mortgage, 20% down payment. 60 day commitment. Any change of loan after commitment issued – $400.00 fee. Property insurance is required. Flood insurance may be required. Properties with underground fuel storage tanks are not eligible. Rates reflect discount for Auto-Pay from a Torrington Savings Bank account. Add 0.25% to rate without Auto-Pay. Application fee ranges from $600.92 to $652.39 on single family homes or $750.92 to $802.39 on multiple family homes. Application fee includes cost of appraisal and credit reports. Available to borrower(s) at a maximum loan to value of 90% without the need for Private Mortgage Insurance. 1-2 Family, owner occupied or second home; no Investment. Purchase only. Minimum FICO of 720. Loans not fitting the requirements above will be required to qualify for and obtain borrower paid Private Mortgage Insurance. Conventional LTV (loan to value) 80.01% to 97% may require PMI. No Prepayment Penalty. Consult a loan representative for more details. Interest rates are subject to change at any time, without notice and may vary according to the property and loan characteristics. Your rate will depend on various factors including loan product, loan amount, loan purpose, credit profile, property value, occupancy, and other factors. Rate / APR displayed assumes 20% down payment, purchase transaction, owner occupied, single family detached home, FICO score of 700 minimum.
Buyer’s Boost – Purchase – No PMI – Jumbo
Minimum loan limit is $726,201.00. Maximum loan limit $1,089,300.00. Payment example: $100,000.00 loan at 4.75% for 360 months (30 years) is a monthly payment of $521.65. This does not include taxes or insurance escrow. APR’s based on $100,000.00 mortgage, 20% down payment. 60 day commitment. Any change of loan after commitment issued – $400.00 fee. Property insurance is required. Flood insurance may be required. Properties with underground fuel storage tanks are not eligible. Rates reflect discount for Auto-Pay from a Torrington Savings Bank account. Add 0.25% to rate without Auto-Pay. Application fee ranges from $750.92 to 802.39 on single family homes. Application fee includes cost of appraisal and credit reports. Available to borrower(s) at a maximum loan to value of 90% without the need for Private Mortgage Insurance. 1-2 Family, Owner Occupied or Second Home; no Investment. Purchase only. Minimum FICO of 720. Loans not fitting the requirements above will be required to qualify for and obtain borrower paid Private Mortgage Insurance. Conventional LTV (loan to value) 80.01% to 97% may require PMI. No Prepayment Penalty. Consult a loan representative for more details. Interest rates are subject to change at any time, without notice and may vary according to the property and loan characteristics. Your rate will depend on various factors including loan product, loan amount, loan purpose, credit profile, property value, occupancy, and other factors. Rate / APR displayed assumes 20% down payment, purchase transaction, owner occupied, single family detached home, FICO score of 700 minimum.
