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All Homebuyer Mortgage Programs

Interest Rates

Government Insured
4.000 %*Click for APR
Non-Government Insured
4.250 %*Click for APR

**Rates are subject to change.
Additional fees may apply.

Benefits of CHFA Mortgages:

  • Below-market interest rate.
  • Downpayment Assistance Program (DAP) loan to help cover downpayment costs.
  • Additional rate reductions of 0.125% for Veterans, Military, Police, Teachers, and people with disabilities or disabled household members.
  • State-wide network of approved lenders.

You may be eligible for a CHFA mortgage if:

  • You are either a first time homebuyer or have not owned a home in the past three years.
  • The sales price of the home you wish to purchase is within the CHFA Sales Price Limits of that town, and your gross income is within the Income Limits.  The CHFA Resource Map can tell you if you are within program eligibility limits.
  • If you don't meet the above criteria, you may still qualify if you are buying in a Targeted Area.
geo-target-map

Buying a home in a Targeted Area?

Certain areas of Connecticut are designated "targeted areas" based on IRS guidelines . If you purchase a home in a federally designated "targeted area," you will receive an additional 0.25% discount on CHFA's published interest rate.  The first-time homebuyer* requirement is waived and the income limit is waived, unless you are also using Downpayment Assistance Loan Program funding. Borrowers cannot combine the Target Area discount with any other discount rate.

Learn more about Targeted Areas in Connecticut.

*A first-time homebuyer is also defined as someone who has not owned a home in the past three years.

 

 

FHA 203(k) Renovation Loan Programs

  • Loan for borrowers purchasing a home that needs work.
  • Also known as the FHA 203(k) Standard or 203(k) Limited programs.
  • The loan covers the mortgage, plus financing for renovations. 
Learn More

Mobile / Manufactured Home Mortgage

  • For purchases of a mobile manufactured home.
  • Must be a year-round home and located in a state-licensed mobile home park.
  • Contact Capital for Change, Inc. (C4C) at 860-233-5165 for details.
Learn More

Homeownership Mortgage for Residents of Public Housing

  • For residents of public housing or those receiving rental assistance.
  • Low interest rate second mortgage to cover down payment costs.
  • Homebuyer eduation to help make the transition from renting to owning.
Learn More

 

 
 
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