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Urban Rehabilitation Homeownership Program - CHFA
The Connecticut Housing Finance Authority (CFHA) has unveiled a new program to encourage homeownership in 16 targeted urban municipalities or neighborhoods (see list below). Called the Urban Rehabilitation Homeownership Program (UR Home), the program offers low-interest, 30 year mortgage. In addition zero-interest rehabilitation loans are available from the State of Connecticut for up to $35,000.
Eligibility: state or municipal employees, as well as private sector employees working in the targeted communities. Municipal employees are eligible if the municipality agrees not to tax im0provements made to eligible properties for five years. Private employees' employers must register with the State and agree to contribute $2,500 to any employees who participate. There are not income limits and buyers may already be homeowners.
Eligible properties must be owner-occupied single-family houses or multi-family buildings with no more than four units. There are no limits on sales price.
Houses in these communities are eligible for the UR Home Program. An asterisk means that only selected census tracts in the community are eligible; for precise locations, contact CHFA.
Ansonia*, Bridgeport, Danbury*, Groton*, Hartford, Meriden*, Middletown*, New Britain*, New Haven, New London, Norwalk*, Norwich*, Stamford, Torrington*, Waterbury, and Windham.
For more information call CHFA's Single Family Underwriting at 860-571-3502, or visit CHFA's website - link is provided below.
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