Homebuyer Mortgage Program for First Time Homebuyers in Connecticut
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1) A first time homebuyer (someone who has not occupied or owned a home for last three years

2) Homebuyers (aside from first time homebuyers) who are planning to acquire a home in a targeted area

3) Homebuyers whose income does not exceed the limits set by CHFA

4) Homebuyers who have a good credit rating and credit history

5) Homebuyers who have a stable job and sufficient income that would cover long-term mortgage payments.

The types of properties that can be acquired under the Homebuyer Mortgage Program are the following:

1) Existing and new single-family homes, townhouses and Planned Unit Developments

2) Newly established homes that meet FHA’s energy efficiency standards

3) Condominiums that are approved by the CHFA

4) Two- to four-family homes which have been utilized as a residence for the past five years or newly built two-family homes in a CHFA targeted area

5) Mobile homes that are approved by the CHFA

6) Any of the following homes stated above that does not exceed the purchasing limits that are set by the CHFA.

Aside from the Homebuyer Mortgage Program, borrowers can also avail of other CHFA homebuyer programs such as the Downpayment Assistance Program which can be used in conjuction with the Homebuyer Mortgage Program.

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

Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
In accordance with this mission, the Connecticut Housing Finance Authority has established the Urban Rehabilitation Homeownership Program wherein it intends to home purchase loans at steady, below-market rates together with home improvement loans with no interest, all in an attempt to support homeownership and investment in selected Connecticut neighborhoods.

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Connecticut Housing Finance Agency Mortgage Programs for Military, Police and Teachers
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.

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California Housing Finance Agency
The California Housing Finance Agency, otherwise known as CalHFA, is an independent, self-supporting agency that was chartered to as the State's affordable housing bank to make low interest rate loans through the sale of tax-exempt bonds; with these bonds being repaid by revenues generated through mortgage loans, instead of taxpayer dollars.

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First Time Homebuyer Programs in Arkansas
The Arkansas Development Finance Authority was primarily created to develop safe, decent and affordable housing for low and moderate income Arkansans. The authority's primary goal is to administer funding in the form of tax exempt bonds and other debt instruments through several programs which are divided into three main categories: Economic Development, Homeownership, and Affordable Rental Housing.

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