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Some of the most notable features of the Urban Rehabilitation Homeownership Program are its rather low interest rates which starts at 3.125%** (APR range 3.225 - 3.625%) and a fixed 30-year mortgage repayment plan.
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The program, however, is not open to everyone. Borrowers will only be deemed qualified to participate in the program if they are any of the following employees:
1) State employees with local offices in Bridgeport, Hartford, New Haven, New London, Waterbury and Windham
2) Municipal employees of one of the cities in focus, just as long as the city government agrees to waive the home improvement taxes on the purchased home for five years
3) Employees of private companies who work in any of the cities mentioned above.
The types of homes that are eligible for purchase under the program are single and multi-family homes with price limits that are stipulated by the CHFA. Moreover, borrowers must also have an annual income that does not exceed the limits set by the said agency.
The types of rehabilitation and repairs that are covered by the program are those that involve the correction of structural damages, the elimination of safety and health hazards, the promotion of disabled people's accessibility and energy efficiency.
If you wish to know more about the Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut, you visit the CHFA's official website.
Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
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About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on education grant money and civic engagement grants. |
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