CHFA 100% FINANCING, FIRST TIME HOME BUYERSPROGRAM

CHFA created a first-time homebuyer program exclusively for residents in CT. This exceptional program opens homeownership opportunities for individuals that either may not qualify for other lending programs, or that do not have enough money for a down payment or closing costs. CHFA does have certain criteria in order to qualify for the program, so please call to discuss the program.

CHFA loan program benefits include:

  • 100% financing
  • Finance the closing costs with the Down Payment Assistance (DAP) Loan
  • Very low interest rate set by CHFA
  • Very low mortgage insurance
  • Special programs available for military, police and teachers.

CONVENTIONAL LOAN PROGRAM

We provide conventional loan financing with as little as 5% down. The days of being required to put at least 20% of the purchase price as a down payment are over. Our 5% down payment option grants you additional financing options, while giving you access to conventional interests rates.

Conventional Mortgage Loan Benefits:

  • Overall monthly payments & interest rates are low.
  • Large down payments are optional, and may not be required.
  • Lower down payment requirement enables you to have more cash on hand for other important things, such as investments.
  • Closing costs are typically lower than other loan programs.
  • Private Mortgage Insurance is usually lower than other loan options
  • NO mortgage insurance with 20% Down

CONVENTIONAL LOAN PROGRAM

We provide conventional loan financing with as little as 5% down. The days of being required to put at least 20% of the purchase price as a down payment are over. Our 5% down payment option grants you additional financing options, while giving you access to conventional interests rates.

Conventional Mortgage Loan Benefits:

  • Overall monthly payments & interest rates are low.
  • Large down payments are optional, and may not be required.
  • Lower down payment requirement enables you to have more cash on hand for other important things, such as investments.
  • Closing costs are typically lower than other loan programs.
  • Private Mortgage Insurance is usually lower than other loan options
  • NO mortgage insurance with 20% Down

FHA LOAN PROGRAM

We provide a variety of low money down financing solutions. Our FHA loans can help those buyers who might not otherwise qualify for a loan because of low cash, less than perfect credit history, and various other reasons that may not make them qualify for a conventional loan.
FHA loans may allow you to take advantage of lower rates without having to put a lot of money down. When you opt for this loan, your payment will typically be lower than a conventional mortgage, which makes these loans an attractive option for everyone – especially first-time homebuyers.

FHA Loan Benefits:

  • Enables you to put only 3.5% of the purchase price towards a down payment
  • Interest rates and payments often lower than conventional loans
  • Flexible qualification criteria compared to other loan programs

Other available programs: VA Loan, USDA Loan CT, FHA 203K Rehabilitation