Homebuyer Mortgage Program for First Time Homebuyers in Connecticut

by: Iola Bonggay

The Connecticut Housing Finance Authority, more commonly termed as CHFA, is a self-supporting quasi-public housing agency in the State of Connecticut that was created in the year 1969 in an attempt to address the concerns 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."

In line with this mission, the Connecticut Housing Finance Authority has been administering the Homebuyer Mortgage Program for First Time Homebuyers. The program is capable of offering home loans and below-market interest rates to first time homebuyers who reside in Connecticut and who are planning to acquire a property that is located in Connecticut.

Among all the features of the Homebuyer Mortgage Program, the most notable ones are its low interest rates (Interest rate: 3.375%**/APR range 3.475 - 3.875%), fewer mortgage fees, and a fixed-rate 30-year mortgage payment plan.

In order to qualify for the Homebuyer Mortgage Program, a borrower must be:

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Homebuyer Mortgage Program for First Time Homebuyers in Connecticut
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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 community grants and health grants.

Additional Resources

category - Home Buying Programs

First Time Homebuyer Programs in Georgia
In July 1996, the Governor and General Assembly made a vital decision to join together the Georgia Housing and Finance Authority (GHFA) with the Department of Community Affairs.

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Downpayment Assistance Program for First Time Homebuyers in Connecticut
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.

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First Time Homebuyer Programs in Delaware
In the year 1968, The Delaware State Housing Authority was created as a public corporation under the Delaware State Department of Housing. The move was inspired by the need to address the concerns of the people in Delaware who seek homebuying-associated assistance.

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Government Grants for Housing Assistance
Do you have a bad credit record but want to get a house? the government just might help. Read this!...

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