Financing

The Trade Program

Need to sell your current him in order to move into The Towers? No problem. All you have to do is select your Towers unit, we customize it for you and a third party will purchase your current home. Move in to your new Towers home and leave anything you don’t want behind! We’ll take care of it – no cleaning, no showing, no fixing, no hassle, no fuss! Contact a broker to learn more.

VA Loans

The Towers is proud to be VA-approved. If you are VA eligible, you may qualify for 100%+ financing on any of our units. Your mortgage company will help you obtain your eligibility certificate.

FHA/CHFA Loans

The Towers is FHA approved, which allows FHA and CHFA financing for our units. FHA offers a 3.5% down loan, whereas CHFA offers up to 100% financing on select units based on sales price limits for New London County.

Conventional Loans

Many lenders and mortgage companies can do conventional financing for qualified buyers at The Towers. 5%, 10%, 20% down programs exist. Some prepaid PMI options are available with this type of financing.

Reverse Mortgage Purchase

If you are 62 years or older, you may qualify for a reverse mortgage purchase (HECM – Home Equity Conversion Mortgage). This plan allows you to use your current home’s value towards a unit in The Towers.

Lease/Options

Under certain circumstances, a lease option may be considered on select units.

Seller Financing

Temporary seller financing may be available for qualified individuals.