CHFA Next Move with Deferred Down Payment Assistance Program
Connecticut Housing Finance Authority offers Next Move with Deferred Down Payment Assistance Program to home buyers in Connecticut: up to 3.5% of the home loan, as a deferred loan.
- Amount
- Up to 3.5% of the home loan
- Kind of help
- Deferred loan
- First-time buyers only
- No
- Credit score
- 620 or higher
How is CHFA Next Move with Deferred Down Payment Assistance Program paid back?
Deferred loan: 0% loan with no monthly payment; the agency pages do not say when it must be repaid.
A deferred loan costs nothing each month, but the whole amount is due when you sell, refinance or pay off the first mortgage.
Who qualifies for CHFA Next Move with Deferred Down Payment Assistance Program?
- Household income up to 120% of area median income (AMI).
- You don't have to be a first-time buyer.
- A credit score of 620 or higher.
- A homebuyer education course before you buy.
- It comes with this first mortgage: CHFA Next Move (Non-Bond) first mortgage.
- Price limit: no sales price limit.
Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.
How to apply for CHFA Next Move with Deferred Down Payment Assistance Program
- Connecticut Housing Finance Authority pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on Connecticut Housing Finance Authority's page for Next Move with Deferred Down Payment Assistance Program, or pick a lender from the agency's list of participating lenders.
Ask a lender about CHFA Next Move with Deferred Down Payment Assistance Program
Tell us where you're buying and a lender that works with Connecticut's programs can tell you whether CHFA Next Move with Deferred Down Payment Assistance Program fits you, and what you could combine with it.
Rather not call? Send your details and the lender will reach you.
Other first-time buyer programs in Connecticut
- CHFA Down Payment Assistance Program (DAP) Loan: up to 4% of the price or value, at most $15,000, repayable loan.
- CHFA Time To Own - Forgivable Down Payment Assistance: up to $25,000, forgivable loan.
- CHFA Homeownership Mortgage for Residents of Public Housing: enough to cover the down payment, repayable loan.
All Connecticut first-time home buyer programs · Down payment assistance in every state