Downpayment Assistance Program for First Time Homebuyers in Connecticut

by: Iola Bonggay

The Connecticut Housing Finance Authority, otherwise termed as CHFA, is an independent quasi-public housing agency in the State of Connecticut that was established in the year 1969 in an effort to alleviate or totally eradicate the issues regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

The programs of the CHFA are thoroughly designed to contribute to the realization of its mission which is to "help alleviate the shortage of affordable housing for low- and moderate-income families and persons in Connecticut, and when appropriate, to promote or maintain the economic development of the State through employer-assisted housing efforts."

With this, the Connecticut Housing Finance Authority has been running the Downpayment Assistance Program in order to financially assist first time home buyers in the process of covering the downpayment and closing costs of purchasing a home.

The CFHA recognizes the fact the in most cases, the most apparent hurdle in the process of buying a new home is the buyer's inability to cover the upfront expenses such as the downpayment and closing costs.

  (continued...)

Downpayment Assistance Program for First Time Homebuyers in Connecticut
  Page 2

About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on grants for youth programs and home improvement grants.

Additional Resources

category - Home Buying Programs

First Time Homebuyer Programs in Montana
The Montana Board of Housing, otherwise referred to as BOH, was primarily established to to provide decent, safe, sanitary and affordable housing for lower income individuals and families in the State of Montana.

---

FirstHome Mortgage Program in North Carolina
One of the programs of the agency is the FirstHome Mortgage Program wherein they seek to offer 30-year fixed interest rate mortgages to first time home buyers in the State of North Carolina.

---

Construction Incentive Program for First Time Home Buyers in New York
Under the State of New York Mortgage Agency, the Construction Incentive Program has been established. The goal of this program is to enable the construction of one and two family homes through the provision of funds, up to 97% of the value of the property, to eligible low to moderate income first time home buyers.

---

First Time Homebuyer Programs in California
The programs of CalHFA are constantly guided by its overall agency mission which is to "finance below market rate loans to create safe, decent and affordable rental housing and to assist first-time homebuyers in achieving the dream of homeownership."

---