chfa downpayment assistance

CHFA Mortgage Assistance for Connecticut Home Buyers The Connecticut Housing Finance Authority, or CHFA, provides mortgage assistance programs to homebuyers in Connecticut. To receive CHFA mortgage assistance, you must be a first-time homebuyer or buying a home in a revitalization zone and qualify for CHFA assistance based on income. CHFA offers both low interest rate loans as well as downpayment assistance. CHFA mortgages can be used to purchase single family homes, condos, multi-family homes, and even some mobile homes. The current CHFA interest rate is 3.5% for government insured mortgage loans and 3.75% for non-insured mortgage loans. CHFA First-Time Homebuyer Mortgages Under the CHFA, first-time homebuyers and

(Note: this article was originally published on November 2, 2016, and the rates may have changed since then.) What is a real estate conveyance tax? A real estate conveyance tax is a tax paid by the “Transferor” in a real estate transaction, typically this is a Seller. However, there are some clever Sellers that put the burden of paying the conveyance tax on the Buyer in the real estate purchase and sale contract. The conveyance tax is paid BOTH to the State of Connecticut as well as to the municipality in which the property is located. The real estate conveyance tax MUST be paid to the