Reduced mortgage insurance rates for homebuyers with incomes higher than the area median. If these loans and programs sound like a fit for you, check out the details at the CHFA website. The next step is to contact one of the many CHFA-approved lenders who can see whether you qualify and help you apply. Also, be sure to explore every option. More from NerdWallet. How much home can you afford to buy? Find Connecticut mortgage rates. See the best Connecticut mortgage lenders.
National first-time home buyer programs. Back to top. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence. The offers that appear on this site are from companies that compensate us.
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Here's an explanation for how we make money. Founded in , Bankrate has a long track record of helping people make smart financial choices. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.
Our mortgage reporters and editors focus on the points consumers care about most — the latest rates, the best lenders, navigating the homebuying process, refinancing your mortgage and more — so you can feel confident when you make decisions as a homebuyer and a homeowner. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. First-time Home Buyer Information. First-time homeowners can get advice, a home-buying checklist to follow and apply for a mortgage through the Connecticut Housing Finance Authority CHFA.
Housing Programs. The state has compiled a list of housing development programs, housing affordability initiatives, community development programs and individual and family support services for those seeking housing assistance.
After people find housing, the state pays a subsidy directly to the landlords every month and the tenants pay the difference between the rental cost and the subsidy. Section 8 Housing Choice Voucher. Real Estate Agents. Owners and Property Managers. Buying your first home is an exciting and important milestone, not to mention a long-term investment. Follow the 8 Steps below to make the home-buying process a little easier!
CHFA can help with financing. We offer year, fixed-rate mortgages with below-market interest rates to low-to moderate-income families and individuals in Connecticut.
This guide will help you understand the process of buying a house with a CHFA loan. Getting pre-approved for a mortgage means you have been approved for financing. While this is not actually getting a mortgage, this important step shows the seller that you will be able to pay for a home.
A CHFA-Approved Lender can tell you which of our mortgages you may qualify for and can pre-approve you for a mortgage. You are not obligated to get your mortgage from the lender that pre-qualifies you. Finding a real estate agent and attorney to guide you through the process will make it easier. Remember, the real estate agent is there to represent your interests, even though he or she receives a commission through the seller once the home is sold.
A real estate attorney will explain all the fine print and make sure that you are legally protected in any transactions. His or her advice will be especially valuable during the mortgage closing when you will have to read and sign a stack of documents. Think about your ideal home.
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