Total Mortgage in Connecticut

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Connecticut First-time Homebuyer Programs

In Connecticut, first-time homebuyers have access to a range of programs through the Connecticut Housing Finance Authority (CHFA) that are tailored to various individuals, including those with disabilities, military personnel, police officers, and teachers. These programs aim to make the home buying process more affordable, offering down payment assistance and other benefits.

Total Mortgage, with our 25 years of experience and experience as the top Connecticut purchase lender, can guide you every step of the way to help you secure the best mortgage deal for your situation.

For a comprehensive understanding of the eligibility requirements and program details, consider exploring the CHFA resource map designed for each of the programs listed below. When you are ready to take the first step, apply here and start working with one of our experts.

CHFA Home of Your Own Program

Connecticut first-time homebuyers with disabilities or those who plan to stay with a disabled family member can get below-market mortgage rates through the Connecticut Housing Finance Authority. To qualify for this program, applicants must fulfill the purchase price and income requirements, provide evidence of disability, and complete a homebuyer education course.

CHFA Public Housing Residents Program

First-time home buyers in Connecticut who are rental housing tenants or have passed the rental assistance program can be eligible for a low mortgage rate in Connecticut. Fulfilling employment, income, and minimum credit requirements is essential to qualify for the CHFA Public Housing Residents Program.

CHFA Mobile Manufactured Home Loan Program

This program is available for repeat and first-time home buyers in Connecticut. Under this program, an aspiring home buyer must buy a manufactured or mobile home to enjoy lower interest rates and closing costs. The applicants must pay a 20% down payment and meet income & purchase price requirements to qualify for this CHFA program. Additionally, CHFA has some guidelines that must be fulfilled. These guidelines are:

  • The home must be a primary residence.
  • You need to live in a year-round home in an approved mobile home park, anchored without wheels or hitches.
  • You'll also sign a yearly lease.
  • No income limit applies if you buy in a "Targeted Area".

Down Payment Assistance Program Loan

Saving for a down payment can be challenging, but the Down Payment Assistance Program (DAP) loan, in Connecticut can help. This program provides funds that can cover both the down payment and closing costs. With up to $20,000 in home purchase assistance available in the form of a low-interest second mortgage, this program is an excellent option for those who have been struggling to save for a down payment. To qualify for this program, you need to apply, and qualify for a CHFA mortgage.

Connecticut Down Payment Assistance Programs

This Connecticut first-time homebuyer down payment assistance program by the CHFA is available for a limited time. It is a forgivable, no-interest loan with zero monthly payments to settle the closing costs and down payment. Applicants can get a loan of up to $50,000 in targeted regions.

SmartMove Connecticut

The SmartMove Connecticut program, provided by the nonprofit Housing Development Fund (HDF), provides low-interest loans at 3% interest (APR ranges from 3.42% to 4.74%) to assist eligible homebuyers. Acting as a second mortgage, this loan can reduce the down payment and closing costs to as little as 1% of the desired home's price. To qualify, you must meet income and purchase price criteria, collaborate with an approved lender, and finish homebuyer education.

Fairfield First Time Homebuyer Assistance Program

Fairfield provides a program supported by the Department of Housing and Urban Development.

Applicants with low incomes can get a zero-interest loan for a down payment of up to $30,000. This loan will be repaid upon refinancing or relocating. They can also get a grant of up to $2,500 to cover closing costs.

Other Connecticut Homebuyer Programs

The below mentioned programs are for informational purposes only and may not be offered by Total Mortgage. We strive to provide comprehensive information about various mortgage assistance options available in the market. Eligibility requirements and program availability vary depending on your location, income, and loan type. We recommend you contact a Total Mortgage Loan Officer directly for details on qualification and enrollment. Check your eligibility(app.totalmortgage.com/apply?utm_source=assistance-programs)

Inclusion of a program on this website does not constitute an endorsement by Total Mortgage and does not guarantee your eligibility or approval for the program.

FHA Loans

FHA loans are great for first-time home buyers in Connecticut without a hefty down payment or extensive credit history. They require just 3.5% of the purchase price and accept credit scores as low as 580 or even 500 with a larger down payment.

VA Loans

These loans are available to qualifying service members, veterans, and eligible spouses, don’t need a down payment or a minimum credit score as they're backed by the Department of Veteran Affairs.

USDA Loans

Like VA Loans, they don’t require a down payment and may accept a credit score of 640 with USDA-approved lenders. They help first-time homebuyers in designated rural areas.

Good Neighbor Next Door program

The Good Neighbor Next Door program, funded by HUD, is open nationally to law enforcement officers, pre-K to 12th grade teachers, firefighters, and emergency medical technicians. It offers eligible homes in revitalization areas solely to these community members, allowing them to find single-family housing where they work.

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