Teachers Mortgage Assistance Program

CHFA is proud to offer an additional 0.125% off already below-market interest rate loans to help Teachers become homeowners in the communities where they work.  CHFA will increase the rate reduction to 0.25% to help Recruit and Retain (*R&R) Teachers who meet the eligibility criteria.  You must be a first-time homebuyer or have not owned a home in the past three years.  If you have owned a home, you may still be eligible if purchasing in a Targeted Area of the state (see below).  The home must be your primary residence, investment or vacation properties are not allowed.

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   Benefits

  • Reduced below-market rate loan
  • Target Area rate discount may apply 

  • Down payment assistance programs available

   

   

  Eligibility Requirements

  You must hold a valid Connecticut certificate and; 

  • Teach in one of the Priority or Transitional School Districts listed below; or
  • Teach in the Technical Education and Career System in a technical education and career school that is located in a Priority or Transitional School District; or
  • Teach in one of the following  state-identified, Subject Matter Shortage Areas or eligible Alliance District subjects listed below; or

  ​To help Recruit and Retain (*R&R) Teachers in our communities, additional incentives are available for Teachers who:

  • Graduated from a public high school in an Educational Reform District  (as defined in Section 10-262u of the CT General Statutes); or
  • Graduated from a historically Black college or university or a Hispanic-serving institution, as those terms are defined under the applicable federal laws. 

  Information provided by the U.S. Dept. of Education Historically Black Colleges or University Hispanic-servicing Institutions

   

  Teachers applying under (*R&R) will receive a 0.250% interest rate discount.  CHFA target area rate discount of 0.250% will apply when applicable and will not be combined with this programs rate reduction.

  • In the case of certified Teachers teaching in a Priority or Transitional School District, or in a technical education and career school located in a Priority or Transitional School District, the dwelling must be located in the district in which the school is located. (This restriction is waived for Teachers applying under the (*R&R) eligibility criteria).

Priority & Transitional School Districts:

Subject Matter Shortage Areas:

*Special Education shortage area designation comprises Partially Sighted, Deaf/Hard of Hearing, Blind, Comprehensive Special Education, and Integrated Early Childhood teaching endorsement codes.

**A district is designated as a High-Need District for teacher shortage area purposes if it is an Alliance District or if the percentage of students who qualified for free or reduced-price lunch in the district exceeded an established cutoff.  The full inclusion criteria and list of High-Need Districts are available in Appendix A of the Staffing Shortage Areas in Connecticut Public Schools report.

Alliance Districts:

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  Targeted Areas

  If you are not a first-time homeowner, or have owned a home in the past three (3) years, you may still be eligible for a CHFA loan if you plan to purchase in an area of the state targeted for revitalization, known as a Targeted Area.  (You may not own any other property at the time of loan closing) 

  Applicants purchasing a home in a Targeted Area should follow the income limits for "Targeted Areas" reflected on the CHFA Income, Sales Price Limits, Target Area chart.  

  The programs published interest rate may be reduced by 0.25% for eligible applicants purchasing in a federally Targeted Area of the state.

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  Eligible Properties

  • Existing – Single Family
  • New Construction – (Statewide Single Family / 2 unit eligible in Targeted Areas only)
  • 2 – 4 units (existing & occupied as residential for the past 5 years)
  • Condominiums (FHA, FNMA, FHLMC, VA or USDA-RD approved – Includes 2-4 unit projects)
  • Townhomes
  • PUD’s (FNMA & FHA approved)

How to Apply

There are nearly 70 CHFA participating Lenders, many with multiple branches in the state.  To apply for a mortgage, find a CHFA- Participating Lender near you.