Discover DPA Programs Available To You
First time home buyers in Connecticut have many options available to them for help in purchasing their first residence. If you feel that saving enough for a down payment will forever prevent you from buying your first residence, here’s some great news. The Connecticut Housing Finance Authority (CHFA), offers down payment assistance for Connecticut 1st time home buyers.
Connecticut DPA Details
Help coming up with the needed down payment is perhaps the greatest resource that you can tap into as a first time home buyer. Here are some details from the CHFA website:
Downpayment Assistance Program
The Downpayment Assistance Program (DAP) offers supplementary loans at below-market interest rates to eligible borrowers of home loans who are unable to raise sufficient funds to pay the upfront expenses associated with purchasing a home.
Please note: A DAP loan is not intended to finance the purchase of a home. Because CHFA recognizes that the foremost obstacle to homeownership is a potential homebuyer’s inability to cover the down payment and closing costs of a home purchase, DAP loans can be used in conjunction with CHFA home loans. An eligible borrower must show his or her ability to repay the primary mortgage and the DAP loan in order to qualify for assistance under this program.
Follow the links below for more information regarding the Downpayment Assistance Program.
- Downpayment Assistance Program Interest Rates
- Who can apply for a DAP loan?
- How much down payment assistance can you receive?
- What else should you know about a DAP loan?
- How do you apply for a DAP loan?
- Questions? Contact CHFA.
- Additional information
To get complete program details, including income limits as well as how to get the application process started, please visit the CHFA DPA page.
More Down Payment Assistance In CT
In addition to the above DPA program offered by CHFA, there are local housing agencies in various towns, cities and counties throughout the state that provide financial assistance to prospective 1st time property buyers as well. To find out about more down payment assistance available near you, please visit local first time buyer programs in Connecticut.