Great news for first-time homeowners! An additional $20 million has been added to the Connecticut Housing Finance Authority's (CHFA) Time To Own Program.
Funding for the program, which offers down payment assistance to low and moderate-income homebuyers in Connecticut, now stands at $80 million, with more than $21.5 million currently available for loan reservations.
Eligibility requirements for the program include:
- Meeting financial need specifications
- Qualifying for and receiving a CHFA first mortgage
- Being a current resident of Connecticut
- Demonstrating residency for the most recent three years
This program will have short and long-term effects benefiting our state. Not only will there be a new generation of homeowners, but these residents will begin the process of building inter-generational wealth to pass on to the next generation. |