Steps for first time Connecticut Homebuyers

Here are 8 steps to guide you through the process of buying your first home in Connecticut:

Homebuyer Education: Attend a free Pre-Purchase Homebuyer Education Workshop offered by CHFA Participating - HUD Approved Counseling agencies throughout the state. These workshops help you understand the complexities of the home-buying process1.

Financing Options: CHFA offers 30-year, fixed-rate mortgages with below-market interest rates for low-to-moderate-income families and individuals in Connecticut. Explore these financing options to make your dream of homeownership a reality.

Down Payment Assistance: One of the greatest obstacles to homeownership is having a down payment and covering closing costs. Consider programs like Time to Own, administered by CHFA on behalf of the Connecticut Department of Housing, which provides assistance to homebuyers2.

Explore the Market: Connecticut’s median list price was $388,200 in September 2023. Research the local real estate market to find homes that fit your budget and preferences3. Real Estate Agents:

Connect with a knowledgeable real estate agent who can guide you through property listings, negotiations, and paperwork.

Home Inspections: Once you find a potential home, schedule a professional home inspection to assess its condition and identify any issues. Offer and Negotiation:

Make an offer based on your budget and the property’s value. Negotiate terms with the seller. Closing: After your offer is accepted, attend the closing meeting to finalize paperwork, transfer ownership, and receive the keys to your new home!

Remember, each step brings you closer to achieving your goal of homeownership. Best of luck on your homebuying journey! 🏡🔑

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