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

Rehabilitation Mortgage Insurance Program
The Department of Housing and Urban Development, otherwise known as HUD, is a Cabinet department in the executive branch of the United States federal government.

---

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.

---

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.

---

Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
The Connecticut Housing Finance Authority, otherwise known as CHFA, is an independent quasi-public housing agency operating within the State of Connecticut that was established in 1969 in an effort to lessen or alleviate the hurdles regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

---