The Connecticut Housing Finance Authority (CHFA) is at 4.375% for a 30 Year Fixed for the forth consecutive week. This is the lowest that I can remember the CHFA Interest Rate being at, and the fact that it is at that rate for a forth consecutive week is amazing.
The rate gets even better if the Borrower is a Teacher, Military Veteran, Buyer purchasing in a Targeted Area, or a Police Officer in a participating town. If a Borrower is in one of these special categories they will receive and additional .125% to .250% off the rate.
The CHFA Program is for First Time Homebuyers, but existing Homeowners who are purchasing in a Targeted Area, also qualify for this program, and an additional .250% off of the rate. That would make their Interest Rate 4.125% on a 30 Year Fixed Loan.
The CHFA rate only comes out on Thursdays, which means that a Borrower the qualifies for a CHFA Mortgage and goes under contract by next Thursday morning, can lock in at this amazing low rate.
If you would like to read more about the CHFA Loan Program just click on the links that I have provided below.
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
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