The CHFA Provides Various Down Payment Assistance Programs

The Connecticut Housing Finance Authority (CHFA) offers several down payment assistance programs for first time buyers.

Connecticut First Time Home Buyer GrantsAny borrower who qualifies for a CHFA first mortgage can also apply for a Downpayment Assistance Program loan of at least $3,000.  DAP loans are available up to 25% of the purchase price. Generally, in order to receive a Connecticut first time home buyer grant under this program, borrowers must demonstrate that they have sufficient income to pay both loans but lack sufficient savings to afford a down payment and/or the closing costs on the home.

For most borrowers, this assistance program is not a grant, and the loan is at regular market interest rates and must be paid back over time.

There are a few DAP programs which provide reduced interest rates, and in effect provide a grant for the difference between the regular interest rate and the reduced rate. These programs are the Homeownership Program, the Home of Your Own Loan Program, the Police Homeownership Mortgage Program and the Section 8 Housing Choice Voucher Homeownership Program.

To contact the CHFA directly:

Phone:     (860) 571-3502
Fax: (860) 571-3550

Mailing Address:
Attn: Single Family Underwriting
999 West Street
Rocky Hill, CT 06067-4005