CHFA Loans for Connecticut Homebuyers
CHFA loans pair a Connecticut Housing Finance Authority mortgage with local lenders like Waypoint. If you qualify, down payment assistance may help you get in the door.
CHFA sets its own rates. Visit chfa.org for current figures.
What Is a CHFA Loan?
CHFA is the Connecticut Housing Finance Authority, a state agency that partners with local lenders to offer mortgage programs for eligible homebuyers. Waypoint Credit Union is a participating CHFA lender. CHFA, not Waypoint, sets the program’s eligibility rules, interest rates, and loan limits, and updates them regularly.
What You Should Know
A State Program, Locally Run
CHFA sets the terms. Waypoint originates and services your loan as a participating local lender.
Down Payment Assistance
Eligible buyers may qualify for a second loan that helps cover the down payment and closing costs.
Income and Price Limits Apply
CHFA sets income and purchase price limits by program and county. Limits change. See chfa.org for current figures.
Rate Discounts for Some Buyers
CHFA offers discounted rates to eligible first responders, military members, teachers, and people with disabilities.
First-Time and Repeat Buyers
Some CHFA programs are limited to first-time homebuyers. Others are not. Program rules vary.
Homebuyer Education May Apply
Many CHFA programs require an approved homebuyer education course before closing.
Getting Started
Because CHFA sets the eligibility rules, your first step is a conversation with a Waypoint lending team member, who can walk through current CHFA programs, limits, and paperwork with you.
- Proof of income for every household member on the loan
- Purchase price within CHFA’s current county limit
- A CHFA-approved homebuyer education course, if your program requires one
- A property that meets CHFA’s occupancy and condition requirements
Frequently Asked Questions
No. CHFA sets the program’s rates, terms, and eligibility rules. Waypoint is a participating CHFA lender that originates and services the loan for you.
It depends on the program. Some CHFA programs are limited to first-time homebuyers, and others are open to repeat buyers. A Waypoint lending team member can help you find out which programs you qualify for.
CHFA publishes current rates, income limits, and purchase price limits at chfa.org. These figures change often, so Waypoint does not publish them here.
Ask your Waypoint lending team member. Whether you can combine the two depends on which CHFA program you qualify for and its current guidelines.
Ready to Talk Through Your Options?
Homebuying, explained plainly. No pressure, just answers.
A Waypoint lending team member can help you understand which CHFA programs you may qualify for, what documents you will need, and what happens next, before you commit to anything.
Important Disclosures
Equal Housing Lender. NMLS #404962.