Time To Own: Free Money For Connecticut Home Buyers

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Apply Before It’s Gone

Time To Own – CHFA Forgivable Down Payment Assistance loan   ** UPDATE **

**  UPDATE  **

On October 22, 2024, the Connecticut State Bond Commission authorized an additional $40,000,000 for Time to Own (TTO), and the program is now reopened. As of December 16, 2024, the following amount available for loan reservations is: $23,631,198.  Act Now!

For a limited time, CHFA will offer the Time To Own – Forgivable Down Payment Assistance loan to help alleviate potential homebuyers’ inability to cover the down payment and closing costs required to purchase their first home.

Administered by CHFA on behalf of the CT Department of Housing, the Time To Own loan is available to eligible homebuyers in conjunction with a CHFA first mortgage loan.   Eligible homebuyers may also take advantage of the CHFA Down Payment Assistance (DAP) loan, in addition to the Time To Own – Forgivable Down Payment Assistance loan Program.

 Scroll to the bottom to view the newest CT listings from $220,000-$500,000 

Apply here with William Lavigne

Mortgage Banker | Cheshire Branch  NMLS# 78392   C : (860) 585-6285

Have YOU Claimed YOUR $25,000?

With $25,000 free money when buying your home, the possibilities are endless. You could make the house of your dreams by investing in top-of-the-line appliances and fixtures, or even an automated home system to create a smarter living experience.
You could add an outdoor patio or deck with beautiful landscaping for entertaining guests. You could add some solar panels to your roof for a more energy-efficient home. You could also invest in luxury furniture, art pieces, or even a hot tub. The possibilities are limited only by your imagination! With $50,000 free money when buying your home, you can make it truly the dream house that you have always wanted. Sign up now it won’t last long!

Benefits

  • 0% Interest rate with no monthly payment required.
  • Ten percent (10%) of the principal balance will be forgiven annually, on the anniversary date of the loan closing, until the loan is fully forgiven on the tenth anniversary.
  • Financing to cover up to 20% down payment and up to 5% closing costs.
  • Loan amounts up to $50,000 for homes located in High or Very High Opportunity Areas  (per State of CT Opportunity Map)
  • Loan amounts up to $25,000 for homes located in areas other than High or Very High Opportunity Areas.

Apply here with William Lavigne

Mortgage Banker | Cheshire Branch  NMLS# 78392   C : (860) 585-6285

Eligibility Requirements

Family Home Connecticut Real Estate

  • The Time To Own loan is only available to eligible applicants that qualify for and receive a CHFA first mortgage.
  • The Time To Own loan may also be used in conjunction with other down payment assistance programs.
  • Applicants must be a current resident of Connecticut and able to demonstrate residency for the most recent three (3) years.
  • Applicants who are not first – time homebuyers may also apply if they plan to purchase in a targeted area of the state.  Borrowers may not own any other property at the time of the CHFA mortgage closing.

Apply here with William Lavigne

Mortgage Banker | Cheshire Branch  NMLS# 78392   C : (860) 585-6285

Additional Considerations

Firstime home buyer

        • The minimum Time To Own loan amount is $3,000.
        • Applicants must meet all CHFA first mortgage and Time To Own loan program eligibility and underwriting criteria.  The CHFA- Participating Lender will work with applicants to determine complete program eligibility requirements.
        • Learn more about taking the first steps to becoming a homeowner here.

Apply here with William Lavigne

Mortgage Banker | Cheshire Branch  NMLS# 78392   C : (860) 585-6285

Additional Program Resources 

Learn more about the program

To start your home search text “buy” to 203-994-3950

Time To Own
Time To Own

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