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48 Meriden Rd, Suite 1, Middlefield, CT 06455
844.788.7237
info@northeast-mortgage.com

Connecticut CHFA Mortgage Program

Connecticut

CHFA Mortgage Program

First of all, Connecticut’s CHFA Mortgage Program is truly one of the best home purchase programs in the country.  In addition, the Connecticut Housing Finance Authority (CHFA) is Connecticut ’s Premier Mortgage Program for “First Time Homebuyers”. This program offers a low fixed interest rate mortgage and down payment assistance.  This makes the dream of homeownership more affordable for individuals and families looking to purchase a home in the state of Connecticut.  The process is also very easy.

 

Who Can Get a CHFA Mortgage?

CHFA Mortgages are available to homebuyers who have not had an ownership interest in a home for the previous 3 years. Furthermore, prior homeowners may qualify for CHFA if the home they purchase is within a designated area. Household income limits (which vary by town) apply.

CHFA Mortgages may be used to purchase 1-4 unit homes, mobile homes, or condominiums.  These properties can also be new constructions. Finally, all properties must be owner occupied and CHFA loans are not available for investment properties.

100% Financing?

The Down-payment Assistance Program (DAP) provides homeownership opportunities to eligible buyers who are unable to provide their own down-payments.  As well, there are some credit score requirements when applying for the DAP.  A DAP loan must be used in conjunction with a CHFA first mortgage.

For more information, please contact me today for a free consultation.  We are more than happy to meet with you in person or discuss your mortgage needs over the phone.  The pre-approval process is easy and can be done the same day.

 

Thank you for reading this overview and we look forward to speaking with you.

 

Drew Raney/President
NMLS#117309
210 South Main ST. Middletown, CT
860-788-7237
drew@northeast-mortgage.com

 

 

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General Disclosure

When discussing programs that allow for 3.5% down, 0% down, or a percentage down – the borrower is not required to only put that exact percentage down. FHA, USDA, VA, CHFA, Jumbo, and Conventional Mortgages allow borrowers to put down more of a percentage if they desire to. The percentages mentioned in the information provided is the minimum down payment that these programs require. Each one of these programs have specific credit score, debt-to-income ratio, and payment history requirements to qualify for the minimum down payment.

Disclaimer

Northeast Financial is presently in the process of applying for their Mortgage Broker’s license in the state of New York.  Website authorization by the New York State Department of Financial Services is pending.  Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. If you are a New York Resident – please do not submit any information through our website.

 

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Connecticut Mortgage Broker License # 20995. North Carolina Mortgage Broker #B-176940. Florida Mortgage Broker License #MBR5370. Registered Mortgage Broker New York #RMB 209075
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Complaint Policy

The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans arranged through third party providers. Does not make loans, issue a pre-qualification or pre-approval in the state of New York.

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