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Understand the basic steps to becoming a homeowner.
Are you experiencing financial hardship? CHFA has programs that may help you.
Real Estate Agents
Owners and Property Managers
Enter the Sales Price of the Home:
This is total sales price of your new home in whole dollars. This amount, less any down payment, will be the amount you borrow from your bank.
Select the Loan Term of the project.
Select the number of years over which you would like to pay your mortgage. (Mortgages paid over shorter terms have higher monthly payments, but are less expensive over the course of the loan.)
Please note: All CHFA loans are 30 year loans.
Select the Interest Rate
Enter the annual interest percentage rate (APR) your bank will apply to the amount you borrow. (Do not include any Private Mortgage Insurance (PMI) percentages your bank may require.)
Enter your Down Payment:
Enter the amount you plan to pay upfront for your home. For example, if your home costs $100,000 and you plan to borrow $90,000 from the bank to pay for it, then you must make a down payment of $10,000 to make up the difference.
Enter the Annual Property Tax
Each year, home owners must pay property taxes to the town they reside in. Enter the yearly tax you will have to pay on the value of the property.
Once the fields above are completed, click the "Calculate my Monthly Mortgage Payment" button to automatically calculate the estimated monthly payment.