GROTON, Conn. – Charter Oak FCU announced last week it is offering up to $3 million in discounted mortgages to those living in the Norwich area to help stimulate the local housing market.
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Under the program, area residents can apply for a half-percent rate reduction on 15- or 30-year fixed rate mortgages. The program is designed for the purchase of owner-occupied one- to four-family residential properties as well as approved condominiums.
The new mortgage rate reduction program coincides with the opening of a new Norwich branch, in the Norwich Business Park.
The $600 million credit union serves residents of New London and Windham counties.
