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Home Financing


									          Home Financing

Looking to build, buy or refinance?
We can help you bring it home.

                 We Find a Way
Webster Bank is one of the region’s leading            We can help you bring it home.
residential lenders, with a branch network that        As one of the region’s leading mortgage originators,
covers CT, Southeastern and Southwestern MA,           Webster Bank offers the expertise and financing
Westchester County NY and RI, and lending expe-        choices to make your dream a reality. Whether it’s
rience nationwide. We offer a wide array of home       a new home purchase, refinancing or construction
financing products to fit most any needs. Your         project, a Webster loan representative will help
Webster loan representative can help you make          you find a way to make it happen — quickly
a clear and informed decision, and guide you           and painlessly.
through a fast, simple and easy application process.
                                                       Mortgage Pre-Approvals
Webster Home Financing product choices include:        Knowing what you can afford before you begin
  o   Fixed Rate Mortgages                             house-hunting can help you find the home that’s
  o                                                    right for you and your budget. And when you do
      Adjustable Rate Mortgages
                                                       find that dream home, we’ll process your mortgage
  o   Non-Conforming (Jumbo) Mortgages
                                                       request faster. Just call 1-888-681-7788. Once
  o   First-Time Home Buyer Programs                   you’re pre-approved, your Realtor and the seller
  o   Reverse Mortgages                                will know you’re ready to buy.
  o   Special Government Programs
  o   Interest-Only Mortgages                          Fixed Rate Mortgages
  o   Construction Mortgage Loans                      For those who want the same monthly payment
  o                                                    and interest rate for the life of their loan, Webster’s
      Bridge Loans
                                                       fixed rate mortgages are a great choice. We offer
  o   Home Equity Loans and Lines
                                                       these loans in both conventional and jumbo
                                                       loan amounts.
At Webster, We Find a Way to help you achieve
                                                         o Up   to 40-year repayment terms
your financial goals by getting to know you,
                                                         o Predictable,    stable payment terms
building a trusting relationship with you, and
                                                         o Interest-only   options
providing you with responsive service and the
right solutions.
                                                       Adjustable Rate Mortgages
                                                       The flexibility of an adjustable rate mortgage
                                                       may be a more suitable option for some borrowers.
                                                       You have the ability to choose the adjustable
                                                       rate program that provides the fixed payment
                                                       period that best matches your needs.
  o Interest rate varies over the life of the loan     o Federal   Housing Authority (FHA)
    according to the LIBOR Index and the margin        o Veterans   Administration (VA)
    of the loan                                        o HOPE—Home     Ownership Possibilities for
  o Lower initial interest rates increase your
                                                        Everyone. First-time home buyers program
    borrowing power                                     for low to moderate income borrowers in
  o Annual and lifetime interest rate caps protect
                                                        designated cities in CT, MA, NY and RI.
    you in a rising interest rate environment
  o Interest-only payments available
                                                     Webster also offers a down payment assistance
                                                     program through housing authorities for qualified
Non-Conforming (Jumbo) Mortgages                     applicants for an MHFA or CHFA loan. Ask a
“Jumbo” mortgages can provide home financing         Webster loan representative for details.
for individuals who are purchasing or refinancing
properties that require larger loan amounts than     Interest-Only Mortgages
Fannie Mae and Freddie Mac guidelines will allow.    An interest-only mortgage lets you defer principal
A jumbo mortgage typically has a higher interest     payments during a specified period early in the
rate and different down payment requirements         loan term, instead of paying principal and interest
than smaller loans due to certain underwriting       every month like a regular mortgage. This means
requirements. Webster offers competitive fixed       that your monthly payments could be lower during
or adjustable rates and quick approvals on           the interest-only period and can be more affordable
jumbo mortgage loan amounts to $1,500,000            for you. An interest-only mortgage may also give
or greater.                                          you the flexibility to make principal payments
                                                     when you want to build equity or put the money
Special Government Programs                          into other investments instead.
Webster works closely with a number of federal,
state and local government agencies to deliver
affordable mortgages and favorable interest
rates for eligible borrowers. The goal is to make
home ownership available to more families in
our communities. Listed below are some of
these agencies.
  o Connecticut   Housing Finance Authority (CHFA)
  o Massachusetts   Housing Finance Agency (MHFA)
  o Rhode   Island Housing Authority (RI Housing)
  o State
        of New York Mortgage Authority
Construction Mortgage Loans                            the existing home, with financing available up to
Building a new home is a major undertaking,            80% of the existing property value.
but with Webster Bank on your team you’ll get
the help you need from start to finish. We’ll          Reverse Mortgages
finance the construction costs of your home; even      A reverse mortgage enables homeowners 62 years
combine it with your land purchase to save you         of age or older to utilize the equity of their home
time and money by having just one closing. We          as a tax-free source of cash. With a reverse
can help you determine whether a fixed rate,           mortgage, seniors don’t make monthly payments —
adjustable rate or interest-only program fits your     they can receive them. This special type of home
needs best.                                            equity loan is not due or payable as long as seniors
   o Funds disbursed as work progresses                occupy their home as their primary residence.
   o Interest-only payments during the
                                                       Home Equity Loans and Lines
     construction phase on the amount used
   o No principal payments until final disbursement
                                                       Tap into the available equity in your home with
   o After construction, loan converts to a
                                                       a home equity loan or home equity line of credit.
                                                       Many homeowners, just like you, use their home’s
     permanent mortgage without additional
                                                       equity to pay for home improvements, consolidate
     paperwork or fees — one loan, one closing
                                                       high-interest-rate debt, pay for college expenses, or
Bridge Loans                                           to purchase a new car. There are no application
A bridge loan allows for interim financing for         fees or closing costs on lines and loans up to and
individuals who are buying or constructing a new       including $500,000 (New York residents should
home but have not yet sold or closed on their          consult with a tax advisor regarding mortgage
existing home. The “bridge” is a real estate-secured   taxes). In most cases, the interest may be tax
line of credit in first or second lien position on     deductible. (Please check with your tax advisor
                                                       for details.)

                                                         Home Equity Loans
                                                         A home equity loan offers a fixed rate payment
                                                         option. We can arrange for manageable
                                                         monthly payments.

                                                         Home Equity Lines of Credit
                                                         A home equity line of credit is a variable rate,
                                                         revolving loan based on the equity available in
                                                         your home.
To apply for your Webster Home Financing, please call
a Webster Loan representative at 1-888-681-7788.

You may also visit a Webster branch to get started.

All loans are subject to credit approval.
Loan programs are subject to change without notice.
                                                                     EQUAL HOUSING

The Webster Symbol, Webster We Find a Way, and          Webster Bank, N.A.
Webster Bank are registered in the U.S. Patent and           Member FDIC
Trademark Office.                                      Equal Housing Lender                                        FN47608 10/08

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