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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: 3.125%**(APR range 3.225% - 3.625%)
    • 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 and if purchasing a 2-4 family home must also attend a CHFA Downpayment Assistance Program.  The minimum down payment may vary depending on the Mortgage Insurer.  Your Participating Lender will determine the minimum down payment requirement for you.   Borrowers who are purchasing 2-4 unit homes are required to put 3% of the purchase price as a down payment from their own funds.


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 Genworth Financial, MGIC, 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: 105 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
35 Elm Street
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
3 Corporate Drive
DANBURY, CT 06813
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

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

E MORTGAGE MANAGEMENT, LLC
105 Technology Drive Suite G-1
Trumbull, CT 06611
Phone: 855-699-6917
Email: pcohill@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

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

LADD MORTGAGE
191 Albany Turnpike
Canton, CT 06019
Phone: 860-693-3200
Email: ldefeo@laddmortgage.com

LANDMARK FINANCIAL GROUP
181 OLD POST ROAD
SOUTHPORT, CT 06490
Phone: 800-437-4214
Email: info@landmark-mortgage.com

LANDMARK MORTGAGE, LLC
101 MILL PLAIN ROAD
DANBURY, CT 06811
Phone: 800-940-5777
Email: TPIRES@SNET.NET

LIBERTY BANK
55 HIGH STEET
MIDDLETOWN, CT 06457
Phone: 888-570-0773
Email: stheriault@liberty-bank.com
LenderContact Info
Found: 105 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: 12  matches     Displaying: 1 - 12 
FileSizeType
120 Recapture Tax (The Federal) Notice to Mortgagor -Method to Compute - 052-1195 Rev 7-14
Notice of maximum Recapture Tax and Method to Compute on Sale of Home is required. Form must be signed and dated by borrowers providing them legal notice of the Tax due upon sale of the home during the Recapture Tax period.
73Kpdf

122 Recapture Tax (The Federal) Notice to Mortgagor- Potential Tax 051-0597 Rev 3-15
This is a CHFA disclosure document that advises the borrower of the reason for the Recapture Tax provision and the conditions under which it will be applicable.
44Kpdf

124 Recapture Tax (The Federal) Notice to Mortgagor- Understanding Tax - 050-0597 Rev 7-14
This is a CHFA Disclosure document that the Lender is required to present to a potential borrower at the time of application to certify the applicant has been informed of the potential Recapture Tax liability associated with CHFA mortgage loan financing.
129Kpdf

125 Recapture Tax (The Federal) Reimbursement Request - 049-0313 Rev 8-14
Form is used to request reimbursement from CHFA of the Federal Recapture Tax borrowers paid following the sale or other disposition of a residence purchased with a mortgage financed through tax-exempt bonds issued by CHFA for closings on or after 3/18/13
245Kpdf

126 Recapture Tax (The Federal) Threshold Income Limits Chart - 048-0405 Rev 8-14
This chart lists the threshold income limits for Recapture Tax liability based on the geographic location of the home and the number of years of ownership.
266Kpdf

CHFA APPROVED SERVICER - IDAHO HOUSING AND FINANCE ASSOCIATION REFERENCE GUIDE - FILE CHECKLIST 3-23-2015
This summary contains Idaho Housing and Finance Association contact information and file document checklist. This new CHFA servicer has replaced U.S. Bank as servicer effective with reservations dated Jan. 2, 2015.
60Kpdf

Counseling Class Schedule - Landlord Class - 2Q 2015
This chart list the schedules for the Landlord Education classes. This class is required for the purchase of a 2 to 4 family home financed by CHFA. It is also available to any potential 2 to 4 family homeowner.
30Kpdf

Counseling Class Schedule - Pre-Closing Education Class - 2Q 2015
This chart list the 2nd quarter schedules for the Pre-Closing Education class. These classes are available to homebuyers who are getting a Downpaymet Assistant Loan and have a reservation loan number for a CHFA loan.
103Kpdf

Counseling Class Schedule - Pre-Purchase Education Class - 2Q 2015
This chart list the 2nd quarter schedules for the Pre-Purchase Education classes. These classes are available to prospective homebuyers.
137Kpdf

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 1-28-15
CHFA - Fannie Mae (FNMA) HFA Preferred Program Outline and Underwriting Guidelines for CHFA Servicer, Idaho Housing Finance and Association.
484Kpdf

Program Fact Sheet - HFA Preferred Program Outline and Underwriting Guidelines - U.S. Bank Rev 12-8-14
CHFA - Fannie Mae (FNMA) HFA Preferred Program Outline and Underwriting Guidelines for CHFA Servicer, U.S. Bank.
511Kpdf
FileSizeType
Found: 12  matches     Displaying: 1 - 12