Home Buying in New Haven>Question Details

Jasmine, Home Buyer in New Haven, CT

Are there any really helpful programs for 1st time home buyers in New Haven, CT.?

Asked by Jasmine, New Haven, CT Sat Jul 26, 2008

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Hi Jasmine,

As you now know there are many programs out there for first time buyers. You can visit the HUD site https://entp.hud.gov:443/idapp/html/hicostlook.cfm . One great program is the 203K program which allows buyers to incorporate improvements to their new home into their mortgage-- To find out more, contact: Terry Terzakis at: tterzakis@familychoicemortgage.com. He is located in Hamden, CT easy to work with and has a variety of options to offer.

Also, feel free to contact me or visit my website: http://www.CTHomeConsultant.com. I would be happy to answer your questions.
0 votes Thank Flag Link Sun Dec 28, 2008
For Sure. Contact a local bank / broker for details. FHA is probably the most popular. (First Time Home Buyers - 3% down). If you work at Yale, they have an additional program.
0 votes Thank Flag Link Fri Dec 26, 2008
Hi Jasmine,
Talk to a few mortgage brokers. If you qualify for a first time buyer program, the loan you qualify for shouldn't change from broker to broker, but the closing costs might. Don't just look at the loan, look at the total cost. Each broker has their own closing costsand origination fees, so compare them as well. There are some brokers that will give you what looks like a great loan, but they charge high fees. If you would like a referral to a great loan officer, drop me an e-mail. I have a few I use regularly with great success.
If you would like help finding that first property that is just right for you, let me know.
Good luck!
Web Reference: http://www.danrossre.com
0 votes Thank Flag Link Mon Jul 28, 2008
There are a number of programs available through CHFA (Ct. Housing Finance Authority) for first time buyers which is anyone who has not owned a home in the past 3 yeaars. There are also special programs for teachers who teach in the city. You can combine a CHFA and FHA program to get a mortgage with very little down and sellers incentives can be asked for in your sales contract to give you money for closing costs. If you are working for Yale, Yale offers some programs as well. If you're shopping for an agent to represent you as a buyer's representative, give me a call at 203-915-4754 or email me at joannamartin@snet.net. My web site is http://www.MartinAssociatesRe.com.
0 votes Thank Flag Link Sun Jul 27, 2008
Hi Jasmine,
This is a great time to buy for 1st time buyers in the New Haven area. Connecticut Housing Finance Authority (CHFA.org) offers first time buyers lower fixed rate 30 year fixed mortgages currently at 5.875%. If you qualify you can still do 100% financing and it's rolled into one payment. It's an great program! You also may have depending on where you buy a town or city incentive as well. If your not currently working and or under contract with another Realtor let me know - I'd be interested in working for you. Bye for now, Linda
Web Reference: http://QuinnRe.com
0 votes Thank Flag Link Sun Jul 27, 2008
Hi Jasmine,

As you know mortgage guide lines are constricting somewhat. Your most important task is to ensure your credit is the best it can be. Once you have been pre-approved, talk to your mortgage or bank rep to discuss your options.

I have listed a few below:

In addition to FHA which is geared to first time home buyers. Yale offers it's own home buyer program for employees http://www.yale.edu/hronline/hbuyer/

In addition, depending on your income there is the Grant Alliance Program http://www.cthomeconsultant.com/Buying/page_2048049.html.

Also, you can find information through local banks who work in conjunction with New Haven such as Peoples or Bank of America.

If you have any questions or need additional help, feel free to contact me.
Web Reference: http://CTHomeConsultant.com
0 votes Thank Flag Link Sun Jul 27, 2008
Yes there is. Several lenders offer first time home buyer mortgage programs that meet the criteria to help a first time buyer into a home, whether it is in New Haven or any other town. To learn more, research CHFA, FHA loans for the first time home buyer, then consult with a Realtor and Mortgage Professional.
0 votes Thank Flag Link Sat Jul 26, 2008
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