CHFA was created in 1969 by the Connecticut State Legislature to help low income families & individuals have more opportunities to access affordable housing.
The CHFA Down payment Assistance Program Loan helps borrowers cover their down payment and closing costs. The program provides a low-interest & second mortgage loan.
DAP offers low-interest second mortgages up to $20,000. Loan must be at least $3,000, but no more than the minimum down payment required for your home (3% & 3.50%).
Borrower must first apply and qualify for a CHFA mortgage from a CHFA Participating Lender & demonstrate their ability to repay both the CHFA first mortgage and the DAP loan.
CHFA provides a DAP Loan at low-interest rate second mortgage at 1.00% (1.10% -1.50% APR) for loan reservations dated April 30, 2021 through December 31, 2023.