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Smart Move Second Mortgage Program

The Connecticut Housing Finance Authority (CHFA) has partnered with the Housing Development Fund (HDF), Inc which offers the SmartMove Homeownership Fund, Second Mortgage Program to first-time homebuyers who have qualified for a CHFA first mortgage loan.  SmartMove is a second mortgage program for low- and moderate-income homebuyers purchasing in Fairfield County or sections of New Haven and Litchfield counties that can be used for down payment and other costs associated with purchasing a home.  

CHFA will provide first mortgage financing for a home, and HDF will provide a second mortgage loan to cover a down payment of 20 % of the home purchase price for eligible borrowers, for a term of 20 years. The second mortgage loan has an interest rate of 3%, which means that the homebuyer will not be required to pay mortgage insurance.    

For more information on this program, click on the SmartMove Program, Housing Development Fund, Inc.