First-Time Home Buyer Programs in Connecticut

Connecticut Housing Finance Authority (CHFA) Programs:

CHFA provides 30-year fixed-rate mortgages at below-market rates for first-time homebuyers (no primary residence in past 3 years, waived in targeted areas) and down payment assistance. No statewide sales price limits; income limits vary by area (higher in targeted). Mandatory homebuyer education required. Verify current rates, income/sales limits, and targeted areas at chfa.org or the Resource Map. Funding for programs like Time To Own is active (e.g., $34M+ available as of March 2026).

CHFA Homebuyer Mortgage Programs (Government-Insured & Conventional):

Eligibility: First-time homebuyers or those not owning in past 3 years (waived in targeted areas); low-to-moderate income.
Offerings: 30-year fixed-rate mortgages (FHA, VA, USDA, or conventional) with below-market rates and low PMI.
Requirements:

• Income ≤ area-specific limits (higher in targeted areas—check Resource Map).
• Minimum credit score: 620+ (varies by loan type).
• Debt-to-income ratio typically ≤45%.
• Mandatory homebuyer education (free via CHFA-approved counselors).

Time To Own - Forgivable Down Payment Assistance:

Benefits: Forgivable second mortgage for down payment/closing costs (up to 20% down + 5% closing); loan amounts up to $25,000 (or $50,000 in high/very high opportunity areas per CT Opportunity Map). Forgiven after occupancy period (typically 5–10 years); repay if sold/refinanced early.
Eligibility: Pairs with CHFA first mortgage; income-based (≤80–100% AMI for max benefit); minimum $3,000 loan. Needs-based; apply through approved lender.

Downpayment Assistance Program (DAP):

Description: Low-interest second mortgage (matches first mortgage rate or min 5%) up to $15,000 for down payment/closing costs (minimum $3,000).
Eligibility: Qualify for CHFA first mortgage; low-to-moderate income; repayable on sale/refinance.

Local Programs (Examples):

City programs offer additional down payment/closing help—often for low/moderate-income residents with education requirements. Funding varies; check city housing departments for 2026 availability.

Hartford

Homebuyer Assistance Program: Down payment/closing cost assistance for low/moderate-income buyers purchasing 1–4 family homes in Hartford. Income-based; requires counseling/inspections—see hartfordct.gov for details.

Bridgeport

First-Time Homebuyer Down Payment Assistance: Assistance for eligible buyers in Bridgeport (1–2 unit homes or condos); income limits and counseling required—check bntweb.org or city site.

New Haven

New Haven Homebuyer Programs: Assistance through Housing Authority or local initiatives for first-time buyers; income-based with education—see newhavenct.gov for current offerings.

Additional Information:

• Special Programs: Discounts for teachers, military/police, disabled buyers, or public housing residents (e.g., Home of Your Own, Military Homeownership).
• USDA Loans: 0% down in eligible rural Connecticut areas; income limits apply.
• VA Loans: 0% down for eligible veterans/active-duty military.
• FHA Loans: 3.5% minimum down (580+ credit; 10% if below 580).

Connecticut programs focus on forgivable assistance and low rates—always confirm with a CHFA-approved lender or chfa.org. Seeking Agents® connects you with Connecticut agents who understand these programs and compete to offer reduced commissions or added services—free for buyers/sellers!