Connecticut CHFA Homebuyer Mortgage Program Checklist
A step-by-step checklist for consumers applying for the Connecticut CHFA Homebuyer Mortgage Program in 2025.
Verify Your Eligibility
- Ensure your household income falls within the program’s limits, which are based on county and family size.
- Verify that your credit score meets the program’s minimum requirement, typically 620 or higher, though specific criteria may be outlined by your assigned Loan Officer.
- Confirm that the property you plan to purchase is within the program’s price cap and will serve as your primary residence.
- Check if you meet additional eligibility requirements, such as being a first-time homebuyer, qualified veteran, or purchasing in a targeted area.
Prepare Necessary Documentation
- Collect proof of income, including recent pay stubs, W-2 forms, or other verification of earnings.
- Gather your tax returns for the last two years, including all schedules and attachments.
- Obtain bank statements from the last two to three months for all financial accounts.
- Prepare property details, including the address, purchase agreement, and sale price.
- Compile any additional documents requested by your Loan Officer, such as verification of assets, liabilities, or debts.
Work with Your Assigned Loan Officer
- A Loan Officer has been assigned to guide you through the Connecticut CHFA Homebuyer Mortgage Program application process.
- Schedule an initial meeting or phone call with your Loan Officer to confirm eligibility, review program details, and discuss the steps needed to complete your application.
- Ask any questions about the program benefits, documentation requirements, or application timeline.
- Follow the guidance provided by your Loan Officer to gather and submit all necessary materials efficiently and accurately.
Complete Your Application
- Collaborate with your Loan Officer to complete the application for the CHFA Homebuyer Mortgage Program.
- Submit all required documents to verify your eligibility for the program.
- Review the application with your Loan Officer to ensure it is complete, accurate, and ready for submission.
- If necessary, attend a homebuyer education course to fulfill program prerequisites.
Finalize Your Enrollment
- Sign all necessary documents provided by your Loan Officer to secure your participation in the program.
- Prepare for any additional costs not covered by the program, such as closing fees or prepaid items.
- Receive confirmation of your enrollment and detailed instructions on how the assistance will be applied to your mortgage or down payment.
Maintain Compliance with Program Terms
- Ensure the purchased property remains your primary residence for the duration specified by the program’s guidelines.
- Notify your Loan Officer immediately if you plan to sell, refinance, or make changes to your mortgage, as these actions may affect your program benefits.
- Stay informed of any updates or changes to the program to ensure compliance and retain your assistance benefits.