First-Time Home Buyer Programs in Connecticut

Connecticut Housing Finance Authority (CHFA) Programs:

CHFA First-Time Homebuyer Program:

Eligibility: First-time buyers (no homeownership in past 3 years) or purchasers in CHFA-targeted areas.
Offerings: 30‑year fixed-rate mortgage (FHA, VA, USDA, or conventional) at below-market rates; eligible for down payment assistance.
Requirements:

• Income ≤ county limits (e.g., ~$148,400 in Fairfield County).
• Credit score ≥ 620 (higher for conventional loans).
• Debt-to-income ≤ 45%.
• Completion of homebuyer education.

Down Payment Assistance Program (DAP):

Benefits: Low-interest second mortgage from $3,000 to $20,000 for down payment/closing costs, repayable over 30 years alongside the CHFA first mortgage.
Eligibility: CHFA first mortgage required; income and purchase price limits apply (e.g., ~$536,800 in non-targeted areas).

Time To Own Loan Program:

Description: 0% interest forgivable second loan up to $25,000 (for non–high-opportunity areas) or up to $50,000 (in high-opportunity areas). Covers up to 20% for down payment and 5% for closing costs. Forgives 10% annually over 10 years, with no payments required unless property is sold or refinanced before full forgiveness. Funds replenished regularly (e.g., $30.8M available as of June 16, 2025).
Requirements: Must pair with CHFA first mortgage; applicants must be Connecticut residents for the past 3 years. Not limited to first-time buyers if purchasing in targeted areas. Minimum loan $3,000. Learn more: CHFA Time To Own Program.

Local Programs:

Hartford

HouseHartford Homebuyer Assistance Program: Up to $40,000 in 0% deferred loan for first-time buyers ≤ 80% AMI, due on sale or refinance.

New Haven

Homeownership Assistance Program: Up to $25,000 forgivable after 5 years for first-time buyers ≤ 80% AMI.

Bridgeport

First-Time Homebuyer DPA: Up to $20,000 in 0% deferred loan; must be within city limits and meet ≤ 80% AMI.

Additional Information:

• CHFA Mortgage Program for Heroes: Rate reductions for veterans, police, teachers, healthcare workers; first-time or targeted area eligibility applies.
• USDA & VA Loans: Zero-down payment available for rural areas (USDA) and veterans/active military (VA).
• FHA Loans: 3.5% down (credit ≥ 580), 10% down if below 580.