Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
Page 2

Some of the most notable features of the Urban Rehabilitation Homeownership Program are its rather low interest rates which starts at 3.125%** (APR range 3.225 - 3.625%) and a fixed 30-year mortgage repayment plan.

The program, however, is not open to everyone. Borrowers will only be deemed qualified to participate in the program if they are any of the following employees:

1) State employees with local offices in Bridgeport, Hartford, New Haven, New London, Waterbury and Windham

2) Municipal employees of one of the cities in focus, just as long as the city government agrees to waive the home improvement taxes on the purchased home for five years

3) Employees of private companies who work in any of the cities mentioned above.

The types of homes that are eligible for purchase under the program are single and multi-family homes with price limits that are stipulated by the CHFA. Moreover, borrowers must also have an annual income that does not exceed the limits set by the said agency.

The types of rehabilitation and repairs that are covered by the program are those that involve the correction of structural damages, the elimination of safety and health hazards, the promotion of disabled people's accessibility and energy efficiency.

If you wish to know more about the Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut, you visit the CHFA's official website.

Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
  Back to Page 1

About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on education grant money and civic engagement grants.

Additional Resources

category - Home Buying Programs

Downpayment Assistance Program for the First Time Home Buyers in North Carolina
In an attempt to contribute to the eradication of this problem, the North Carolina HFA has established the Downpayment Assistance Program for the First Time Home Buyers wherein they provide interest-free, deferred second mortgages up to $8,000 to cover the downpayment and closing costs of a chosen property.

---

Rural Community Development Initiative
The Rural Community Development Initiative can be awarded to legally qualified private, public, and tribal groups or organizations that have the experience and capability of providing training and technical assistance to nonprofit community-based housing and community development organizations, as well as low income rural communities.

---

State of New York Mortgage Agency
The State of New York Mortgage Agency, otherwise referred to as SONYMA, is an agency established in the year 1970 in an attempt to address the shortages of funds within private banking systems that are specifically intended for residential mortgages within the State of New York.

---

Alabama Housing Finance Authority
The Alabama Housing Finance Authority, more commonly referred to as AHFA, is a public corporation which was established in the year 1980 under the Act No. 80-585 of the Alabama Legislature.

---