Homebuyer Mortgage Program for First Time Homebuyers in Connecticut
Page 21) A first time homebuyer (someone who has not occupied or owned a home for last three years
2) Homebuyers (aside from first time homebuyers) who are planning to acquire a home in a targeted area
3) Homebuyers whose income does not exceed the limits set by CHFA
4) Homebuyers who have a good credit rating and credit history
5) Homebuyers who have a stable job and sufficient income that would cover long-term mortgage payments.
The types of properties that can be acquired under the Homebuyer Mortgage Program are the following:
1) Existing and new single-family homes, townhouses and Planned Unit Developments
2) Newly established homes that meet FHA’s energy efficiency standards
3) Condominiums that are approved by the CHFA
4) Two- to four-family homes which have been utilized as a residence for the past five years or newly built two-family homes in a CHFA targeted area
5) Mobile homes that are approved by the CHFA
6) Any of the following homes stated above that does not exceed the purchasing limits that are set by the CHFA.
Aside from the Homebuyer Mortgage Program, borrowers can also avail of other CHFA homebuyer programs such as the Downpayment Assistance Program which can be used in conjuction with the Homebuyer Mortgage Program.
Homebuyer Mortgage Program for First Time Homebuyers in Connecticut
Back to Page 1
About The Author
Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs.
She also maintains Websites providing resources on community grants and health grants.
|
Additional Government Grants Resources
Rehabilitation Mortgage Insurance ProgramThe Department of Housing and Urban Development, otherwise known as HUD, is a Cabinet department in the executive branch of the United States federal government.
Keystone Home Loan Program For First Time Homebuyers in PennsylvaniaThe Pennsylvania Housing Finance Agency has been administering the Keystone Home Loan Programs For First Time Homebuyers within the State of Pennsylvania.
Government Grants Within The United States Education SectorThe United States of America prides itself as having one of the top countries with the most efficient and functional educational systems. The US has been consistently working towards the improvement of the country's education-related initiatives.
Government Grants Within The United States Humanities SectorThe field of humanities employs methods that are primarily analytical, critical, or speculative, as differentiated from the mainly empirical approaches of the natural sciences.
Grants and Loans From The Department of EnergyIn 1977, the President of the United States of America signed the The Department of Energy Organization Act which mandated the creation of the United States Department of Energy, which more commonly known as DOE.
Historically Underutilized Business Zones - HUBZone Empowerment Contracting ProgramThe Small Business Administration has established the Historically Underutilized Business Zones (HUBZone) Empowerment Contracting Program wherein they aim to provide federal contracting assistance to eligible small business corporations which are located in underutilized business zones so as to improve their employment opportunities, investments, and their area's economic development.
Section 8 Housing Choice Voucher Homeownership ProgramThe Connecticut Housing Finance Agency has been administering the Section 8 Housing Choice Voucher Homeownership Program wherein they intend to offer home loans at reasonable, below-market rates to Section 8 tenants who wish to purchase a home of their own.