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

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California Homebuyer's Downpayment Assistance Program for First Time Home Buyers
The California Homebuyer's Downpayment Assistance Program is a deferred payment junior loan that can be used in conjunction with other CalHFA housing programs. It provides borrowers with funds amounting to 3% of the actual value of the property that they wish to inquire in order to cover the downpayment costs.

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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.

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Keystone Home Loan Program For First Time Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency has been administering the Keystone Home Loan Programs For First Time Homebuyers within the State of Pennsylvania.

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