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Connecticut Housing Finance Authority (CHFA) 203K In New Britain CT

FHA 203K Loans have been around for a long time, but there is a new kid on the block that also offering a 203K Rehab Program.  The new kid is the Connecticut Housing Finance Authority (CHFA).  
The Connecticut Housing Finance Authority (CHFA) 203K In New Britain CT has many of the features of existing traditional FHA 203K Loan Product, but the Connecticut Housing Finance Authority (CHFA) 203K also includes some of the features that are specific to CHFA.  Below are some of the highlights of the Connecticut Housing Finance Authority (CHFA) 203K In New Britain CT as well as in all towns throughout Connecticut.
Owner Occupied Single Family Houses and Owner Occupied FHA Approved Condominiums Only. First Time Home Buyer or previous Home Owner who presently does not own another property and is purchasing in a CHFA identified Targeted Area. Max/Min Loan Amount - The lower of the Sales Price plus rehab or 110% of after improved value (100% if property is a Condo) is used to calculate the Loan-To-Value. CHFA Income Limits Apply CHFA Property Limits Apply Minimum FICO Score 640 Rate Lock 120 Days Interest Rate Will Be CHFA Rate Max Total Debt To Income Ratio 45% ... more

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