Connecticut Finance Authority Section 8 Voucher Program In New Haven CT

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Mortgage and Lending with George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut NMLS #65149

The Connecticut Finance Authority Section 8 Voucher Program In Hew Haven CT is a little known program that is available not only in New Haven, but also in the following 10 Connecticut towns listed below:

  • Ansonia
  • Bridgeport
  • Bristol
  • Danbury
  • Derby
  • Hartfort
  • Meriden
  • Norwalk
  • West Hartford
  • Willimantic

This program was established to assist renters with Section 8 Vouchers to purchase a home, and free up subsidized housing units.

The Connecticut Finance Authority Section 8 Voucher Program In New Haven CT is available to current renters in New Haven and the other 10 Connecticut towns listed above, that have a Section 8 Voucher, and can meet the requirements for a CHFA Mortgage.  These Section 8 renters also have to be approved by their local Public Housing Authority (PHA) that issued their Section 8 Voucher.

The Connecticut Finance Authority Section 8 Voucher Program In New Haven CT and the other 10 Connecticut towns, Section 8 Voucher holders who wish to use their Section 8 Voucher for the purchase a house must:

  • Be First Time Homebuyers, or purchasing a home in a CHFA Targeted Area.
  • Go through a counseling and credit assessment to determine whether they are ready to purchase a home.
  • Meet CHFA Income Limits 
  • Must live in the property year-round
  • Property must meet CHFA Sales Price Limits, and be one of the follow properties:
    • Single-family homes, townhouses, or Planned Unit Development (PUD)
    • Approved FHA Condominiums
    • Two-to four family homes that have been used as a residence for the past five years, or newly constructed
    • Two family homes in a CHFA Targeted Area
    • Mobile homes that meet FHA Guidelines
  • Attend a three-hour, Homebuyer Education Class prior to the loan closing

NOTE: Vouchers cannot be used to purchase recreational, vacation, investment, or commercial property.

Current CHFA Interest Rate apply to the Connecticut Finance Authority Section 8 Voucher Program In New Haven CT and the other 10 Connecticut towns list above.  These mortgages are also eligible for Downpayment and Closing Cost Assistance (DAP) loans if the Borrower does not have sufficient funds. 

To learn more about the Connecticut Housing Finance Authority (CHFA) Section 8 Voucher Program and other CHFA Programs, visit the Connecticut Housing Finance Authority (CHFA) Webesite.

 

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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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Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

George, there must have been an oversight on someone's part to have excluded Waterbury, which is a target area for everything else

Jun 30, 2012 06:29 PM #1
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
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Ed, it does not have any thing to do with targeted areas, it is the Housing Authority that decides if they are going to participate in the program or not.  Many of the Housing Authorities have chosen not to participate because they have to guarantee the Section 8 Voucher for 15 years in order to participate in the program, and the Federal Government only guarantees the Section 8 Vouchers to the Housing Authorities for 1 year at a time.  So many of the Housing Authorities, including Waterbury have chosen not to take that risk.

Jun 30, 2012 07:52 PM #2
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