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HFA Preferred Loan Program

Program Overview

The HFA Preferred Loan Program offers home loans at below-market interest rates to first-time homebuyers with low mortgage insurance costs. People who have owned homes before may also qualify for a loan under this program if they plan to purchase a home located in a targeted area.  (See, Targeted Areas.) There are no exceptions for CHFA Income Limits in Targeted Areas with this Program. This Program cannot be combined with any other program offered by CHFA.

CHFA is committed to helping Connecticut residents achieve their dream of homeownership and values its partnership with the qualified lenders for this program.  Prospective borrowers may apply directly for a HFA Preferred Loan through one of CHFA-approved participating lenders. (See, list of Participating Lenders under the HFA Preferred Loan Program.)    

Follow the links below for more information regarding the HFA Preferred Loan Program.     

 

 

HFA Preferred Interest Rates

Currently, the HFA Preferred™ Program is providing mortgages at the following rate:

    • Non-Government Insured Interest Rate: 3.375%**(APR range 3.475% - 3.875%)
    • Fees: Additional fees may apply.
    • Term: 30 years, fixed rate

** Please note, this rate is subject to change and additional fees may apply.


 

Who can apply for an HFA Preferred loan?

Borrowers must be first-time homebuyers.  Eligible borrowers must have incomes that meet the requirements of CHFA income guidelines. The gross annual household income for borrower(s) cannot exceed the limit shown for the city/town where you are purchasing the home.   


 

What types of property can you purchase with an HFA Preferred loan?

    • 1 unit homes
    • Fannie Mae approved condominiums
    • Planned Unit Developments
    • 2-4 unit homes

NOTE:  Manufactured homes and co-ops are not permitted.


What else should you know about an HFA Preferred Loan?

The Sales price limit cannot exceed the CHFA Sales Price limits established for the city/town where you are purchasing your home, providing it does not exceed the Fannie Mae maximum loan limits.

The loan must be used toward the purchase of a primary residence, which must be owner-occupied by the borrower.  Investment or vacation properties are not allowed.


Homebuyer Education

All homebuyers must attend a minimum of a 3-Hour Homebuyer Education Class


What are mortgage insurance requirements?

Borrowers must pay Mortgage Insurance. The amount of mortgage insurance is determined by credit score utilizing a respective Mortgage Insurer’s guidelines. Your lender will review Mortgage Insurance requirements with you.

Mortgage Insurance companies participating in this program are Arch Mortgage Insurance Company; Essent Guaranty, Inc.; Genworth Financial, MGIC, National Mortgage Insurance Corporation; Radian; and United Guaranty.

 

How do you apply for a HFA Preferred loan?ing in this program are Genworth Financial, MGIC, Radian and United Guaranty.

 

How do you apply for a HFA Preferred loan?

The HFA Preferred Loan Program will be offered through the following CHFA Participating Lenders.  Contact one of the lenders listed below to apply for a CHFA HFA Preferred loan.

Participating Lender List Found: 110 matches     Displaying: 1 - 50 Next
LenderContact Info
1ST ALLIANCE LENDING, LLC
111 Founders Plaza, Suite 1300
East Hartford, CT 06108
Phone: 860-282-0293
Email: info@theplacewelovemost.com

1ST AMERICAN HOME LOANS
559 HARTFORD PIKE STE 201
DAYVILLE, CT 06241
Phone: 860-774-7000
Email: ddefocy@welend.net

AFC MORTGAGE
11 RED BARN ROAD
TRUMBULL, CT 06611
Phone: 866-452-9899
Email: afcmtg@charter.net

ALLIED FUNDING GROUP
130 North Main Street
Wallingford, CT 06492
Phone: 203-294-1409
Email: Paul@mortgageloansct.com

AMITY MORTGAGE, LLC
774 New Haven Road Suite2
NAUGATUCK, CT 06770
Phone: 203-729-6681
Email: TKelly@amitymtg.com

ASCEND FINANCIAL NETWORK
7 Elm Street, 2nd Floor
NEW HAVEN, CT 06510
Phone: 203-787-9892
Email: info@ascendfinancialnetwork.com

ATLANTIC HOME LOANS
2096 B SILAS DEANE HIGHWAY
ROCKY HILL, CT 06067
Phone: 860-257-8200
Email: dsevigny@atlantichomeloans.com

AVISTAR CAPITAL GROUP, LLC
1062 Barnes Road, #108
Wallingford, CT 06492
Phone: 203-679-0732
Email: gilg@avistarmortgage.com

BCI FINANCIAL MORTGAGE CORPORATION
219 South Main Street
Cheshire, CT 06410
Phone: 203-439-9400
Email: kpenfield@bcifinancial.com

BERKSHIRE BANK
58 Statehouse Sq.
Hartford, CT 06103
Phone: 860-460-5002
Email: gklender@berkshirebank.com

BESTWAY MORTGAGE CORP
458 WOLCOTT ROAD
WOLCOTT, CT 06716
Phone: 203-441-4059
Email: brian@bestwaymortgages.com

BURKE LENDING,LLC/D/B/A BURKE MORTGAGE
15 PITKIN STREET
MANCHESTER, CT 06040
Phone: 860-649-5363
Email: JBURKE@BURKEMORTGAGE.COM

CAMPBELL FINANCIAL SERVICES, INC
116 Washington Avenue
NORTH HAVEN, CT 06473
Phone: 475-202-6220
Email: RLT@CAMPBELLMORTGAGE.COM

CASE FINANCIAL SERVICES
149 Durham Road, Suite 27A
MADISON, CT 06443
Phone: 203-245-7900
Email: s.katz@casefs.com

CHARTER OAK LENDING DBA DANBURY MORTGAGE
5 Plantation Court
Bethel, CT 06801
Phone: 203-778-9999
Email: debkillian@snet.net

CHELSEA GROTON
904 Poquonnock Rd.
Groton, CT 06340
Phone: 860-448-4176
Email: Mortgagecenter@chelseagroton.com

CHFA LENDERPhone: 860-721-9501
Email: valencia.taft-jackson@chfa.org

CHRYSALIS FUNDING OF CT LLC
150 West Main Street
BRANFORD, CT 06405
Phone: 203-483-0061
Email: sharonb84@aol.com

CITIBANK, N.A.
750 Washington Blvd.
Stamford, CT 06901
Phone: 203-558-7325
Email: juan.cueto@citi.com

CITIZENS BANK, NA
825A Cromwell Avenue
Rocky Hill, CT 06067
Phone: 860-830-3790
Email: mark.d.allen@citizensbank.com

CT LIBERTY MORTGAGE, LLC
5 FOREST PARK DRIVE
FARMINGTON, CT 06032
Phone: 860-606-0099
Email: mhayes@ctlibertymortgage.com

CTHM, LLC D/B/A CONNECTICUT HOME MORTGAG
3 Corporate Drive
Shelton, CT 06484
Phone: 203-925-8560
Email: dmdecarlo@cthm.com

DELANO MORTGAGE SERVICES
480 Enfield Street
Enfield, ct 06082
Phone: 860-741-6711
Email: info@delanomtg.com

DIME BANK
290 Salem Tpke
Norwich, CT 06360
Phone: 860-859-4300
Email: kmisenti@dime-bank.com

E MORTGAGE MANAGEMENT, LLC
105 Technology Drive Suite G-1
Trumbull, CT 06611
Phone: 203-733-4318
Email: cbartlett@emmloans.com

ELM TREE FUNDING, LLC
43 North Main St
West Hartford, CT 06107
Phone: 860-521-3800
Email: harry@elmtreefunding.com

EMBRACE HOME LOANS, INC.
100 Corporate Place, Suite 204
Rocky Hill, CT 06067
Phone: 860-656-0111
Email: segan@embracehomeloans.com

EVOLVE BANK & TRUST
30 Main Street
Danbury, CT 06810
Phone: 203-794-1414
Email: ifarrison@getevolved.com

FAIRFIELD COUNTY BANK CORP.
150 DANBURY ROAD
RIDGEFIELD, CT 06877
Phone: 800-776-6518
Email: joyce.trombley@fairfieldcountybank.com

FAIRWAY INDEPENDENT MORTGAGE CORP.
1224 Mill Street, Bldg. B, Suite 115
East Berlin, CT 06023
Phone: 469-252-6646
Email: ssanders@fairwaymc.com

FALCON FUNDING, LLC
4133 Whitney Avenue
Hamden, ct 06514
Phone: 203-281-4000
Email: deborah@falconfundingllc.com

FARMINGTON BANK
1 Farm Glen Blvd
FARMINGTON, CT 06032
Phone: 877-376-2265
Email: skornfeld@farmingtonbankct.com

FIDELITY MORTGAGE SERVICES
28 School St.
Branford, CT 06450
Phone: 203-315-1200
Email: ed@fidelitymortgage.com

FIRST COUNTY BANK
117 PROSPECT STREET
STAMFORD, CT 06901
Phone: 203-462-4200
Email: danderson@firstcountybank.com

FIRST NIAGARA BANK, N.A.
195 Church Street
NEW HAVEN, CT 06510
Phone: 203-214-2290
Email: david.baker@fnfg.com

FIRST WORLD MORTGAGE CORPORATION
127 Prospect Ave
West Hartford, CT 06106
Phone: 860-233-5626
Email: lsidoti@fwmc.biz

FRANKLIN AMERICAN MORTGAGE COMPANY
501 Corporate Centre Drive suite 400
Franklin, TN 37067
Phone: 615-778-1000
Email: kwood@franklinamerican.com

FRANKLIN MORTGAGE
NORTH HAVEN, CT 06473
Phone: 203-271-1130
Email: franklinllc@franklin-mortgage.com

FREEDOM MORTGAGE CORPORATION
281 Oakland Rd
South Windsor, CT 06074
Phone: 860-644-7080
Email: neil.caron@freedommortgage.com

GENERATION MORTGAGE, LLC
105 East Center Street
Manchester, CT 06040
Phone: 860-983-4498
Email: jerry@generationmtg.com

GLASTONBURY RESIDENTIAL MORTGAGE, LLC
2400 Main Street
Glastonbury, CT 06033
Phone: 860-256-6154
Email: glen@gogrm.com

GUARANTEED RATE, INC.
1245 Farmington Ave, Ste 203
West Hartford, CT 06107
Phone: 773-290-0499
Email: mda@guaranteedrate.com

GUILFORD MORTGAGE SERVICES, LLC
1445 Boston Post Road
Guilford, CT 06437
Phone: 800-472-3781
Email: jcastelli@guilfordmortgage.com

HARBOUR MORTGAGE GROUP, LLC
24 Pennsylvania avenue
NIANTIC, CT 06357
Phone: 203-980-8391
Email: dustin@harbourmortgaggroup.com

HOMEBRIDGE FINANCIAL SERVICES, INC.
1960 Silas Deane Hwy. Suite D
Rocky Hill, CT 06418
Phone: 860-729-8108
Email: pmahoney@homebridge.com

HOMEOWNERSHIP SOLUTIONS, LLC
164 Newington Road
West Hartford, ct 06110
Phone: 860-218-2677
Email: homeownership.maria@gmail.com

HOMESTEAD FUNDING CORPORATION
72 NORTH STREET
DANBURY, CT 06810
Phone: 203-791-1736
Email: WHUNT@HOMESTEADINGFUNDING.COM

HORIZON HOME MORTGAGE
22 MAPLE AVENUE
WINDSOR, CT 06095
Phone: 860-285-0635
Email: sdoshi@horizonhomemtg.com

ION BANK
251 Church Street
Naugatuck, Ct 06770
Phone: 203-729-4442
Email: bnoe@ionbank.com

L'ALTRELLA LENDING GROUP, LLC
80 Huntington Street
Shelton, CT 06484
Phone: 203-712-1177
Email: annlaltrella@llgsite.com
LenderContact Info
Found: 110 matches     Displaying: 1 - 50 Next

 

Related Documents

The following documents are related to the HFA Preferred™ Loan Program.  To open and view the document, click on the document title. 

Related Documents Found: 4  matches     Displaying: 1 - 4 
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Counseling Class Schedule - 3 Hour Pre-Closing Education Class - 3Q 2015
This chart list the 3rd quarter schedules for the Pre-Closing Education classes. These classes are available to homebuyers who are getting a Downpayment Assistant loan and have a reservation number for a CHFA loan.
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Income and Sales Price Limits rev. 8-14-2015
This document details the income and sales price limits that are in effect in different geographic regions of the state.
277Kpdf

Program Fact Sheet - HFA Preferred Program 6-14
CHFA offers a first-time homebuyer a mortgage loan program that offers a 30-year, fixed rate mortgage with low cost mortgage insurance coverage requirements.
508Kpdf

Program Fact Sheet - HFA Preferred Program Outline and Underwriting Guidelines - Idaho Rev 5-07-15
CHFA - Fannie Mae (FNMA) HFA Preferred Program Outline and Underwriting Guidelines for CHFA Servicer, Idaho Housing Finance and Association.
485Kpdf
FileSizeType
Found: 4  matches     Displaying: 1 - 4