This CHFA "CHAFA" Loan mortgage program is designed to help Connecticut homebuyers overcome one of the main obstacles to owning a home - the down payment. Here are the chfa mortgage rates as of November 5, 2009:. “The dream of homeownership remains aliveand well,” said Eric Chatman, President and Executive Director, CHFA. There is a CHFA loan number issued when the loan is locked upon registration on CHFA’s website. CHFA Loans are offered through the Connecticut Housing Finance Authority. CHFA Form 702B: CHFA HomeAccess and CHFA SectionEight Purchase Post Funding Submission Checklist CHFA Form 704: Change or Cancellation of Lock CHFA Form 707: Lock Worksheet Are you experiencing financial hardship? This CHFA "CHAFA" Loan mortgage program is designed to help Connecticut homebuyers overcome one of the main obstacles to owning a home - the down payment. • Targeted areas allow for ¼% discount on rates, BUT CANNOT BE COMBINED WITH PROGRAMS THAT OFFER THE DISCOUNTED RATES LISTED BELOW: The following programs offer a rate reduction of 1/8% discount on rates: Loans are 30 year, fixed rate with 1% Origination Fee payable to the lender. Access to CHFA advantages is dependent on household income (which is determined at the county level and by size of household). Thank you both for the reply! CHFA can help with financing. Please Note: The information provided by these calculators is intended for illustrative purposes only. Loans are 30 year, fixed rate … The CHFA Mortgage Loan, or "CHAFA" as it is sometimes known, is operated by the Connecticut Housing Finance Authority. • CHFA provides a 30-year, fixed rate mortgage. The CHFA Homebuyers Guide is a … With no money down required, the CHFA Loan makes it possible to afford a home now. The price of real Estate in Connecticut, and CHFA mortgage rates … Box 150463 Hartford, CT 06115-0463. CHFA just rolled out its new CT Families Program which is now self-insured, unlike the previous program that followed FHASecure Guidelines. No down payment; 100% mortgage financing with good credit. CHFA rates are posted every Thursday, and are fixed until the following Thursday. The Connecticut Housing Finance Authority (CHFA) is Connecticut’s Premier Mortgage Loan Program for “First Time Homebuyers”. If the borrower cannot reach Initial Closing within sixty (60) days of locking in the rate, the borrower will forfeit the not-to-exceed rate and will be charged a “Rate Reset" fee equivalent to 0.25% of the construction and permanent loan amounts. CHFA can help Coloradans with down payment assistance, helping them get into a house for as little as $1,000 down. Normally the CHFA rates are lower than conventional 30 year fixed rates. The interest rate is tracked by your Social Security Number so if rates go down, you will not be able to go to another lender to take advantage of the rate reduction. FHA and CHFA mortgage interest rates often differ by about 1%, so I want you to be informed! Little or no cash needed. For current rate information, call CHFA’s 24-hour rate line at (860) 571-3571 or visit our website at www.chfa.org. Enter and space open menus and escape closes them as well. CHFA mortgages can be used to purchase single family homes, condos, multi-family homes, and even some mobile homes. CHFA Rates are low 30 year fixed rate mortgages, and some of the most competitive mortgage rates you will find in the nation.If you qualify for the CHFA program no need to shop around for the lowest CHFA rate because all CHFA approved lenders are required to offer the same rate, and closing costs as regulated by the state of Connecticut. Rates posted after 10:00pm MT or over holidays/weekends are sample rates … For current rate information, call CHFA’s 24-hour rate line at (860) 571-3571 or visit our website at www.chfa.org. The Connecticut Housing Finance Authority is a leader in providing affordable mortgages for first-time homebuyers and borrowers who have not owned a home in 3 years. CHFA has TWO loan numbers most of the time. The CHFA Military Mortgage Option This is a CHFA loan advertised as being primarily for first-time … For example this week the CHFA rate is 5.0 % with up to One Point (1% Origination Fee) payable to Lender. Box 1000 New Britain, CT 06050-1000. Learn about CHFA's multifamily interest rates … The current CHFA interest rate is 3.5% for government insured mortgage loans … The default figures shown are hypothetical and may not be applicable to your individual situation. Since 1969, the Connecticut Housing Finance Authority, or CHFA, has assisted low- to moderate-income first-time home buyers with below-market-rate mortgages and down payment assistance. They are for First Time Homebuyers who are looking to purchase a home in certain areas that are targeted for revitalization. Connecticut Housing Finance Authority is a leader in home financing in Connecticut. 30-year fixed rate Fannie Mae “HFA Preferred” or Freddie Mac “HFA Advantage” purchase loans only (97% LTV/ 105% CLTV) CHFA DPA Second Mortgage Loan available for assistance with down payment, … To ensure housing availability for low and moderate income households, properties taking part in CHFA's programs must adhere to rent and income limits. The current interest rate is 2.75 percent for a 30-year fixed mortgage. Rates can change on Tuesdays and Fridays. This "not-to-exceed" rate will generally be 0.50% higher than the prevailing interest rate on the day the Resolution is adopted. CHFA offers both low interest rate loans as well as downpayment assistance. There are options available for even lower CHFA rates. My lender didnt know much about CHFA, he's registered in CT but located out of MA. The state, through the Connecticut Housing Finance Authority (CHFA), administers 13 financial assistance programs for homebuyers. The following chfa rates are in effect until Thursday, November 19, 2009, and subject to change. Upon an interest rate lock, the final loan sizing(s) is/are permitted within the upper limits established in the adopted Loan Resolution. CHFA Loans are offered at competitive interest rates. Over the past 40 years, CHFA has helped more than 117,000 families and individuals purchase their first home. A specific bond issue is linked to a specific interest rate. Are you experiencing financial hardship? Low Fixed Rate 30 Year I live in Connecticut and am using the CHFA loan program which offers low rates for first time home buyers. 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