CHFA Rates Still Very Attractive with 100% Financing For Qualified Buyers

With all the lender guidelines making big changes over the past few months CHFA is still a great alternative here in CT for first time home buyers. The low rates and 100% financing option make this program a very good alternative for financing over conventional financing.

 I have listed the current rates available from CHFA (source CHFA.org) .Note the other programs available from CHFA besides the typical first time home buyer program:

All CHFA Mortgage Program interest rates are
subject to change weekly. The following rates
are in effect until Thursday, May 17, 2007:
_____________________________________________

Homebuyer Mortgage Program

Interest rate:  5.375 % (APR range 5.475 - 5.875 %)
Fees: Up to One Point (1% Origination Fee) * Payable to Lender
Term - 30 years, fixed rate

   * Additional fees may apply __________________________________________________

Urban Rehabilitation Homeownership (UR Home) Program

Interest rate:  5.125 % (APR range 5.225 - 5.625%)
Fee: Up to One-and-a-Half Points (1.5% Origination Fee)* Payable to Lender
Term - 30 years, fixed rate

* Additional fees may apply _________________________________________

Homeownership Program,
Home of Your Own Program,
Police Homeownership Program,
Teachers Mortgage Assistance Program, and
Military Homeownership Program

Interest rate:  5.250% (APR 5.350 %)
Fees: Up to One Point (1% Origination Fee) * Payable to Lender
Term - 30 years, fixed rate

(NOTE: Downpayment Assistance is available at the same interest rate noted for these 5 programs. If at any time the interest rate for these programs exceeds 6%, the DAP interest rate will be capped at 6%.)

   * Additional fees may apply