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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: 2.875%**(APR range 2.975% - 3.375%)
    • 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 or have not owned a home in the past three years.  Borrowers who have owned a home previously may also apply if they plan to purchase in a targeted area of the state. 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.  In designated targeted areas and targeted census tracts, the CHFA income limit will be waived for eligible applicants that are not applying for CHFA Downpayment Assistance (DAP). In compliance with HFA Preferred™ guidelines, eligible applicants may not have an ownership interest in any other property at the time of closing. The loan transaction must comply with all other applicable HFA Preferred™ and CHFA eligibility and underwriting guidelines for approval.


 

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.

You may be required to pay a special federal tax if you sell your home within nine years. Under rare circumstances, CHFA mortgage loans may be subject to the Federal Recapture Tax at the time the property is sold.  The tax might apply if a borrower sells his or her home within nine years of the purchase date, makes a profit on the sale and has an income that exceeds federal recapture tax limits at the time of the sale. You may be eligible to receive reimbursement from CHFA if you are required to make the Federal Recapture Tax payment.


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?

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 - 105 
LenderContact Info
1ST AMERICAN HOME LOANS
559 HARTFORD PIKE STE 201
DAYVILLE, CT 06241
Phone: 860-774-7000
Email: ddefocy@welend.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

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: 860-448-4174
Email: Mortgagecenter@chelseagroton.com

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

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 MTG
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

ENVOY MORTGAGE LTD.
640 Main Street
Plainville, CT 06479
Phone: 860-305-1609
Email: vbiscoglio@envoymortgage.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: George.Bossis@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

FARMINGTON BANK
1 Farm Glen Blvd
FARMINGTON, CT 06032
Phone: 860-284-6669
Email: rmonti@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

FLAGSTAR BANK, FSB
100 Corporate Place, Suite 130
Rocky Hill, CT 06067
Phone: 860-922-9928
Email: Lynn.scuderi@flagstar.com

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

GMH MORTGAGE SERVICES, LLC
68 Southfield Ave, 2 Stamford Landing, Ste 101
Stamford, CT 06902
Phone: 877-507-2006
Email: kquinncarite@gmhmortgage.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

HOMESTEAD FUNDING CORP.
72 NORTH STREET, Suite 306
DANBURY, CT 06810
Phone: 203-791-1736
Email: whunt@homesteadfunding.com

HORIZON HOME MORTGAGE
156 Broad Street
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

ISERVE RESIDENTIAL LENDING, LLC
1010 Washington Blvd
STAMFORD, CT 06901
Phone: 203-817-3613
Email: cdellacamera@iservelending.com

L'ALTRELLA LENDING GROUP, LLC
80 Huntington Street
Shelton, CT 06484
Phone: 203-712-1177
Email: annlaltrella@llgsite.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: kjohnson@liberty-bank.com

LOANDEPOT.COM,LLC
703 Hebron Avenue
Glastonbury, CT 06033
Phone: 508-850-4061
Email: kcolonna@mortgagemaster.com

M & T BANK
501 Merrit 7, 5th Floor
Norwalk, CT 06851
Phone: 203-295-2744
Email: bpurciello@mtb.com

MAIN STREET MORTGAGE
3267 Main Street
Stamford, CT 06614
Phone: 203-377-7744
Email: Daveb@main-street-mortgage.com

MCCUE MORTGAGE COMPANY
One Liberty Square
New Britain, CT 06051
Phone: 800-382-0017
Email: marketing@mccuemortgage.com

MERRIMACK MORTGAGE COMPANY INC
308 Oxford Road
Oxford, CT 06478
Phone: 203-828-6090
Email: cmadden@merrimackmortgage.com

MORTGAGE ASSISTANCE COMPANY LLC
175 New Britain Avenue
PLAINVILLE, CT 06062
Phone: 860-793-1300
Email: msidoti@macllc.net

MORTGAGE GIVER
1650 Longmeadow Street
Longmeadow, MA 01106
Phone: 413-567-6176
Email: dewards@mortgagegiver.com

MORTGAGE MARKETS CUSO, LLC
616 Burnside Avenue
East Hartford, ct 06108
Phone: 860-290-4786
Email: lterry@mortgagemarketscuso.com

MSI MORTGAGE.COM LLC (SPONSOR MCCUE)
14 Church Street
NORTH HAVEN, CT 06473
Phone: 203-985-4444
Email: david.swanson@msimortgage.com

NATIONS RELIABLE LENDING LLC
175 Capital Blvd., Suite 402
Rocky Hill, CT 06067
Phone: 203-233-4857
Email: Desmond.ladd@nrlmortgage.com

NEW ENGLAND HOME MORTGAGE, LLC

NEW ENGLAND HOME MORTGAGE, LLC (SPONSOR
92 North Summit, Suite 2B
Southington, CT 06489
Phone: 860-426-2447
Email: brian@brianct.com

NEWTOWN SAVINGS BANK
39 Main St
NEWTOWN, CT 06470
Phone: 203-426-4440
Email: ebarbera@nsboline.com

NORCOM MORTGAGE
38 Security Drive
AVON, CT 06001
Phone: 860-606-0525
Email: colleen.fazzino@norcom-usa.com

NOREAST MORTGAGE SERVICES
1092 ELM STREET SUITE 203
ROCKY HILL, CT 06067
Phone: 860-257-0799
Email: steve@noreastmortgageservices.com

NORTHEAST FINANCIAL
210 South Main Street
Middletown, CT 06457
Phone: 860-788-7237
Email: drew@northeast-mortgage.com

NORTHERN STATES MORTGAGE, LLC
27 Strawberry Hill Ave
Stamford, CT 06902
Phone: 724-934-5780
Email: info@northernstatesmortgage.com

NORTHPOINT MORTGAGE (SPONSOR MCCUE)
10 Waterchase Drive
Rocky Hill, CT 06067
Phone: 860-757-3515
Email: tblackburn@trynorthpoint.com

NORTHPOINT MORTGAGE, INC

PEOPLES UNITED BANK, N.A.
850 MAIN STREET
BRIDGEPORT, CT 06604
Phone: 860-922-5983
Email: terence.floyd@peoples.com

PHH HOME LOANS, LLC
992 Farmington Avenue
West Hartford, CT 06107
Phone: 860-570-2520
Email: Sylvie.fillion@phhhomeloansne.com

PHOENIX FINANCIAL
3 Logging Trail Lane
Brookfield, ct 06804
Phone: 203-778-8887
Email: steve-phoenix@sbcglobal.net

PIONEER MORTGAGE, LLC
2508 Whitney Avenue
Hamden, ct 06518
Phone: 203-288-5156
Email: mike.pioneer@snet.net

PRECISION MORTGAGE, LLC
1750 Ellington Road
South Windsor, ct 06074
Phone: 860-644-0378
Email: hsaada@precisionmortgagect.com

PRIMARY RESIDENTIAL MORTGAGE, INC.
873 Main Street
Manchester, CT 06040
Phone: 860-873-5345
Email: jdionne@primeres.com

PRIME LENDING A PLAINS CAPITAL COMPANY
612 Wheelers Farm Road
Milford, CT 06461
Phone: 203-951-4170
Email: kmcguinness@primelending.com

PROSPECT MORTGAGE
102 Technology Drive
Trumbull, CT 06611
Phone: 203-400-6652
Email: michele.poulin@prospectmtg.com

PROVINCE MORTGAGE ASSOCIATES, INC.
202 Highland Avenue
Cheshire, CT 06410
Phone: 203-272-5601
Email: kpenfield@provincemai.com

PRYSMA LENDING GROUP
10 Precision Road
DANBURY, CT 06810
Phone: 203-763-9985
Email: mserva@prysmalending.com

PUTNAM BANK
40 MAIN STREET
PUTNAM, CT 06260
Phone: 860-963-4953
Email: lkieltyka@putnamsavings.com

RAPID RESPONSE MORTGAGE SERVICES, LLC
528 Chapel Street
New Haven, CT 06511
Phone: 203-772-4101
Email: jim.mccall@rrmortgages.com

RESIDENTIAL HOME MORTGAGE CORP.
4 Wood Hollow Road
Parsippany, NJ 07054
Phone: 973-577-7008
Email: mkaplan@rhfunding.com

RESIDENTIAL MORTGAGE SERVICES
120 Hebron Ave, 2nd Floor
Glastonbury, CT 06033
Phone: 207-775-6105
Email: mianno@rmsmortgage.com

SANTANDER BANK, NATIONAL ASSOCIATION
1010 FARMINGTON AVENUE
WEST HARTFORD, CT 06107
Phone: 860-570-3150
Email: mkaprove@santander.us

SAVINGS BANK OF DANBURY
220 Main Street
Danbury, CT 06810
Phone: 203-830-4390
Email: mmorgado@sbdanbury.com

SAVINGS INSTITUTE BANK AND TRUST
803 Main Street
Willimantic, CT 06226
Phone: 800-423-0142
Email: jaclyn_petrizzo@banksi.com

SECURITY FINANCIAL MORTGAGE CORP.
20 Elm Street
BRANFORD, CT 06405
Phone: 203-208-3286
Email: caniskovich@sfmtg.net

SOUTHINGTON MORTGAGE, LLC

SOUTHINGTON MORTGAGE, LLC (SPONSOR MCCUE
360 North Main Street Suite 1-10
SOUTHINGTON, CT 06489
Phone: 860-621-8711
Email: southmtg@hotmail.com

STONEGATE MORTGAGE CORPORATION
Email: LOSSupport@chfa.org

THE MILFORD BANK
33 BROAD STREET
MILFORD, CT 06460
Phone: 203-783-5713
Email: PMulligan@Milfordbank.com

THE SIMSBURY BANK & TRUST CO. INC
86 Hopmeadow Street
Simsbury, CT 06089
Phone: 860-651-2086
Email: jberesford@simsburybank.com

THOMASTON SAVINGS BANK
203 Main Street
Thomaston, CT 06787
Phone: 860-283-3432
Email: kcrone@thomastonsb.com

TOTAL MORTGAGE SERVICES, LLC
185 Plains Road, Suite 300E
Milford, CT 06461
Phone: 203-876-2200
Email: bschettler@totalmortgage.com

TRADEMARK FINANCIAL GROUP
730 Main Street
Branford, CT 06405
Phone: 203-208-1534
Email: malbert@tfgroupct.com

TRISTATE MORTGAGE CORPORATION
329 Main Street, Suite 209
Yalesville, CT 06492
Phone: 203-284-8022
Email: bill@tristatemortgagecorp.com

UNION SAVINGS BANK
225 Main Street
DANBURY, CT 06810
Phone: 203-830-4200
Email: bskarda@unionsavings.com

UNITED BANK
1645 ELLINGTON ROAD
SOUTH WINDSOR, CT 06074
Phone: 860-291-3600
Email: jlipes@rockvillebank.com

VILLAGE MORTGAGE
30 Tower Lane
AVON, CT 06001
Phone: 860-482-7378
Email: fputnick@villagemtg.com

WARD KILDUFF MORTGAGE, LLC
146 Hopmeadow Street
SIMSBURY, CT 06070
Phone: 860-658-7100
Email: greg@wardkilduff.com

WEBSTER BANK
609 WEST JOHNSON AVENUE
CHESHIRE, CT 06410
Phone: 866-404-7040
Email: rabbott@websterbank.com

WELCOME HOME MORTGAGE, LLC (SPONSOR MCCU
1331 SILAS DEANE HIGHWAY
WETHERSFIELD, CT 06109
Phone: 860-761-1331
Email: PAULA@WELCOMEHOMEMORTGAGE.NET

WELLS FARGO BANK N.A.
86 N. Main Street
Wallingford, CT 06492
Phone: 203-605-7195
Email: tish.assante@wellsfargo.com

WESTPORT MORTGAGE, LLC
877 Post Road East
WESTPORT, CT 06880
Phone: 203-221-8242
Email: paullebowitc@westportmortgage.com

WILLIAM RAVEIS MORTGAGE, LLC
235 Littleton Road
Westford, MA 01886
Phone: 978-692-3499
Email: maryellen.graziano@RAVEIS.COM
LenderContact Info

 

Related Documents

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

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