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All Homebuyer Mortgage Programs

Most Popular
Mortgages
Benefits of
CHFA Mortgage
CHFA Mortgage
Eligibility
Buying a Home
in a Targeted Area
Federal Recapture Tax Information

Interest Rates

Government Insured

2.625 %*Click for APR

Non-Government Insured

2.875 %*Click for APR

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

Most Popular Mortgages

CHFA's top three loans offer competitive incentives that help home seekers become homeowners. Contact a CHFA-Approved Lender to find out which mortgage is best for you.

HFA Advantage® and HFA

Preferred™ Loan Programs

Lower mortgage insurance premiums will reduce your monthly payments with these loan programs. Mortgage insurance premiums stop once your equity in the home reaches 20%.

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Homebuyer Mortgage

Program

Below-market interest rate mortgages along with a CHFA Downpayment Assistance Program loan to eligible applicants, makes the dream of homeownership more affordable.

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Downpayment Assistance Program (DAP) Loans

If you can afford monthly mortgage payments but don't have enough saved for the down payment and closing costs, a DAP loan can help you make the switch from renting to owning a home. About 50% of CHFA borrowers take advantage of the DAP program.

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To encourage homeownership CHFA offers an additional 0.125% discount on published interest rates if you are:

A member of the U.S. Military Services or Veterans
A State Trooper or Police Officer
(in participating towns)

A Teacher who is certified in the State of Connecticut and qualifies under program eligibility
A disabled person or have a disabled household member who will live with you
A resident of public housing buying a home

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.

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Mobile / Manufactured Home Loan Programs

For purchase or refinance 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 (855) 656-5500 for details.

Purchase Refinance

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.
Homebuyer education to help make the transition from renting to owning.

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Benefits of CHFA Mortgages:

Below-market interest rate.
Downpayment Assistance Program (DAP) loan to help cover down payment and closing 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.

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.

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