First Time Home Buyer, FHA, Assistance Programs

As a first-time home buyer, it’s especially important to understand your options to be sure you’re saving as much money as possible. Depending on your situation, several programs may offer flexible eligibility, and assistance with down payments and closing costs. These programs can include Federal and State backed loans that allow some borrowers with lower credit scores or limited funds to pursue home ownership. Your AFC Mortgage Loan Expert will be able to provide you with specialized guidance and determine which program(s) you qualify for. One of the most popular is an FHA loan.

FHA Loan: FHA loans are backed by the Federal Government through the Federal Housing Authority. This program was established to offer more flexibility in qualifying along with lower down payments.

‍FHA 203K Rehab Loan: this loan allows FHA qualified home buyers to combine a mortgage and home renovation costs into a single loan.

‍State Sponsored Loans such as CHFA: the Connecticut Housing Finance Authority is just one example of a specific state backed assistance program offering lower interest rates and down payments. Your loan expert will be able to review any possible opportunities with you.
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‍VA Loan: a VA Mortgage is a loan that is guaranteed by the Department of Veterans offers for active or veteran service members. See our page on VA Loans for more details!
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Reach out today for personalized guidance from AFC Mortgage Group. Call us at 203-452-9899.