CHFA First-Time Buyer Programs: Do You Qualify?

by Agnes Mroczka

Quick Answer: CHFA (the Connecticut Housing Finance Authority) offers below-market first mortgages plus down payment assistance to eligible first-time buyers, and to any buyer purchasing in a designated targeted area. Eligibility generally depends on income limits set by county and household size, a credit score typically in the 620–640 range, purchase price limits, and completion of an approved homebuyer education course.

What CHFA Actually Is

CHFA doesn't lend directly — it works through a network of CHFA-approved lenders who offer its below-market mortgage products, most commonly paired with down payment assistance. Its main first-mortgage options include HFA Advantage and HFA Preferred conventional loans (with reduced mortgage insurance), plus government-insured options through FHA, VA, and USDA that can also be paired with CHFA's assistance.

Who Qualifies

First-time buyer status — generally defined as not having owned a home in the past three years — though this requirement is waived for purchases in designated "targeted areas" of the state.
Income limits set by CHFA, which vary by county and household size.
Purchase price limits, which also vary by area.
A minimum credit score, typically in the 620–640 range depending on loan type.
Completion of a CHFA-approved homebuyer education course.

Down Payment Assistance

Alongside the first mortgage, CHFA offers down payment assistance — including its Time To Own program, a zero-interest forgivable second loan that's forgiven at 10% a year (fully forgiven after ten years in the home). On a $300,000 purchase, that program alone can cover a meaningful share of a buyer's upfront costs. Exact amounts depend on the purchase price and specific program, and CHFA updates its limits periodically, so a current CHFA-approved lender is the right source for the exact number for a specific purchase.

How This Fits Into Buying in Hartford County

A lot of first-time buyers looking in towns like Newington, Berlin, and Rocky Hill specifically ask about CHFA because it can be the difference between waiting another year to save and buying now. Getting pre-qualified with a CHFA-approved lender early — before falling in love with a specific house — means knowing your real number going in.

FAQ

Do I have to be a first-time buyer to use CHFA?

Not always — the first-time buyer requirement is waived for purchases in designated targeted areas of the state, and for some specific programs. A CHFA-approved lender can confirm whether a specific town or address qualifies.

What credit score do I need for a CHFA loan?

Typically a minimum in the 620–640 range depending on the specific loan product, though this can change — a CHFA-approved lender will confirm current requirements.

Can CHFA be combined with FHA or VA loans?

Yes — CHFA's down payment assistance is commonly paired with FHA, VA, USDA, or conventional first mortgages.

Is there an income limit for CHFA programs?

Yes, income limits apply and vary by county and household size, set directly by CHFA.