Downpayment Assistance Program for First Time Homebuyers in Connecticut
Page 2

With this, the CHFA is offering the Downpayment Assistance program in order to help address this concern. The program can be used in conjunction several other homebuyer program offered by the CHFA.

The minimum amount of that can be provided by the program is $3,000 while the maximum is 25% of the actual price of the property in focus.

In order to qualify for the program, a borrower must satisfy the eligibility requirements set by the CHFA:

1) Must be a First time homebuyer (someone who has not occupied or owned a home for last three years

2) Must be a homebuyer (aside from first time homebuyers) who is planning to acquire a home in a targeted area

3) Must be a homebuyer whose income does not exceed the limits set by CHFA

4) Must be a homebuyer who has a good credit rating and credit history

5) Must be a homebuyers with a stable job and sufficient income that would cover long-term mortgage payments

6) Must be a homebuyer who can afford to pay the $200 program application fee

7) Must be a homebuyer who is willing to participate in a free 3-hour homebuyer education class before closing on the loan.

If you wish to read more about the Downpayment Assistance Program, you can visit the CHFA's official website, send an email to the CHFA's single family underwriting department, or contact the CHFA head office.


Downpayment Assistance Program for First Time Homebuyers in Connecticut
  Back to Page 1

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

Achieving the Dream Program for First Time Home Buyers in New York
One of the programs of the State of New York Mortgage Agency, is the Achieving the Dream Program wherein it seeks to provide eligible low income first time home buyers with really low down payment mortgage financing programs.

---

Frequently Asked Questions about Buying Your First Home
The idea of buying a new home for the first time can be overwhelming for most people. It is probably the largest investment they have ever made, and the process itself seems downright intimidating. ...

---

Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy
If you have a recent bankruptcy on your credit and are looking to get financing for a home, there is hope. Buying a home with bad credit will just put more emphasis on the other two factors needed to...

---

First Time Homebuyer Programs in Virginia
In 1972, the Commonwealth of Virginia has constituted the establishment of the Virginia Housing Development Authority in an effort to respond to the needs of Virginians who seek quality, affordable housing.

---