At Windsor Federal Savings, we offer personalized service from a staff who knows the area and understands your needs. No complicated process...No cumbersome committee. Our full line of loan products are very competitive, affordable and designed with your needs in mind.

Reverse Mortgage
CHFA and FHA Loans
VA Loans
Fixed Rate Mortgage

When you're looking for the stability of a fixed monthly payment a fixed rate mortgage is the way to go! Our Conventional fixed rate mortgages offer terms of 15, 20 30 and 40 years with the option of 0, 1 or 2 points. The monthly payment and the rate will remain the same during the duration of the mortgage. Jumbo fixed rate mortgages are also available.

To find out what documentations you may need for your mortgage application, please click here for our Mortgage Application Checklist. To view this checklist, you will need Adobe Reader. If you do not have Adobe Reader, it is available without charge from Adobe. Get Adobe Reader now



 


Adjustable Rate Mortgage (ARM)

Adjustable Rate Mortgages offer one of the lowest initial rates possible. These mortgages offer a lower rate during a 1, 3, 5, 7 or 10 year designated initial time period and then once the period is over, the interest rate may increase or decrease within the guidelines of the established caps. For example, if your initial 7 year ARM rate is 3.00%, your rate will remain fixed for 7 years and will not go any higher than 8.00% during the life of the loan. These loans also offer a conversion option.

To find out what documentations you may need for your mortgage application, please click here for our Mortgage Application Checklist. To view this checklist, you will need Adobe Reader. If you do not have Adobe Reader, it is available without charge from Adobe. Get Adobe Reader now


 

First Time Homebuyer Program

Buying your first home can be difficult but at Windsor Federal Savings we make it easy for you. Our First-Time Homebuyer Program offers you a choice of a 3/1 Adjustable Rate Mortgage or a 5/1 Adjustable Rate Mortgage with as little as 3% percent down and NO POINTS!
 
Lending area: Hartford, Tolland and Litchfield Counties
 
To find out what documentations you may need for your mortgage application, please click here for our Mortgage Application Checklist. To view this checklist, you will need Adobe Reader. If you do not have Adobe Reader, it is available without charge from Adobe. Get Adobe Reader now
 


 


What is a Reverse Mortgage?

A reverse mortgage is a loan that enables you as a senior home owner, age 62 and older, to tap the equity you have in your home without having to sell the home, give up title to it or make monthly mortgage payments. This type of loan gives you the maximum amount of flexibility to address your particular financial needs. Whether it is in a lump sum to pay an unexpected hospital bill, or a stream of regular payments to supplement your monthly income. Unlike traditional home equity loans or forward mortgages, no repayment of the loan is required until the last borrower permanently leaves the home.
 
With a reverse mortgage, you borrow against the value of your home, and receive loan proceeds according to the payment plan that you select. As a borrower, you are permitted to change payment plans at any time after origination. And, you may change payment plans, as many times as you wish!
 
When the last surviving borrower permanently moves out of the home or dies, the reverse mortgage loan becomes due. The reverse mortgage principal, interest charges, and service fees (such as closing cost fees) are paid from sale of the house or other assets of the estate.
 
The only requirements for a reverse mortgage are that you be 62 or older, you own your own home, and that the lender can pay off any liens, or mortgages that are on your home.
 
Who Qualifies for a Reverse Mortgage?
  • All Seniors must be age 62 or older and occupy the property. The deed does not have to be in your name, please call us for details about this.
  • You can own other properties, including a vacation home, as long as the property the reverse mortgage is on is your primary residence.
  • You must live in the home for at least one month each year and it must be your primary residence.
  • The loan must pay off any existing liens on the property. (The reverse mortgage may be used to pay off the balance on an existing loan).
  • The home must be one of these types: - single family home - condominium or townhouse - duplex, triplex or 4-plex - where you live in one of the units - some permanent mobile homes (second homes and non-permanent mobile homes don't qualify).
  • There are no income, health or credit qualifications.

At this time Reverse Mortgages are not eligible for online application. Please contact us to set up an appointment, for additional information regarding Reverse Mortgages and the application process.





CHFA and FHA Loans

FHA Loans are insured by the Federal Housing Administration and offer easier qualifying, 3% down payment, up to 6% seller contribution and the predictability of a 30 year fixed rate with the option of 0, 1 or 2 points. Qualifications and restrictions are based on FHA guidelines.
 
CHFA Loans offer a 30 year fixed rate mortgage with 1 point. Targeted areas offer the borrower higher income and sale price limits. As little as 3% percent down payment is required, a Down Payment Assistance Program is available with less than $5,000 total household assets. The borrower must be a First-Time Homebuyer or one who has not owned a principal residence for the past 3 years. Lending area: Connecticut.
 



VA Loans

VA Loans are guaranteed by the Department of Veterans Affairs and offer no money down payment, flexible VA guidelines, 4% seller contribution and the predictability of a fixed rate. Terms of 15 and 30 years are offered with the option of 0, 1 or 2 points. These mortgages are available to veterans, active duty and some military widows.

At this time VA Loans are not eligible for online application. Please contact us for additional information regarding VA loans and the application process.




Construction Loans

At Windsor Federal Savings, we offer fixed and adjustable rate construction loans with permanent financing...only one closing, interest rate lock at the time of application, up to 95% loan-to-value, a 12 month construction period with interest only during construction and convenient disbursements. Lot loans are also available.
 
At this time, Construction Loans are not eligible for online application.  Please contact us for additional information regarding Constructions Loans and the application process.


 


Home Equity Loans

Whether you need money for home improvement, debt consolidation, college tuition, medical expenses, that much needed vacation or the unexpected, let the equity in your home go to work for you. Convenient terms are available for up to 15 years with simple interest rates and monthly payments that will not change, which makes for easy budgeting. In most cases, the interest is tax deductible. Talk to your tax advisor to determine deductibility.

There will be no application fee or closing costs for loans starting at $25,000 up to $125,000.



 


Home Equity Lines of Credit

A line of credit lets you decide when and how much you borrow. With a Home Equity Line of Credit (HELOC), you can borrow up to 80% of your home's equity and you only pay interest on the amount you withdraw. Plus, the interest on your HELOC may be tax-deductible. Talk to your tax advisor to determine deductibility.


 


Auto Loans

Get on the road to peace of mind with a car, truck or SUV loan from Windsor Federal Savings. Our new or used auto loans can help you enjoy a safer and more secure ride, no matter how you choose to travel. Check out our low rates and loan terms.


 


Personal Loans

Don't have collateral to borrow against? A personal loan may be just what you need. Unsecured personal loans can be used to consolidate credit card debt, as a quick source of funds, and more.