Homebuyer Mortgage Program for First Time Homebuyers in Connecticut
Page 2

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
  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 community grants and health grants.

Additional Resources

category - Home Buying Programs

Department of Housing and Urban Development's Dollar Homes Program
The Dollar Homes Program revolves around the process of selling single family homes for a superbly reasonable price of $1 (plus closing cost) to low-to-moderate income families, granted that these houses have been acquired through foreclosure by the Federal Housing Administration, and have already been actively marketed for at least six months and still remained unsold after that certain period of time.

---

First Time Homebuyer Programs in Georgia
The state of Georgia offers a variety of programs to assist first time home buyers. The programs are offered primarily through the Georgia Department of Community Affairs.

---

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. ...

---

FirstHome Mortgage Program in North Carolina
One of the programs of the agency is the FirstHome Mortgage Program wherein they seek to offer 30-year fixed interest rate mortgages to first time home buyers in the State of North Carolina.

---