In Connecticut there are a few programs in which you can buy a home with a no money down loan (100% financing). The one which I would recommend and have done the most work with for my clients personally is through CHFA (Connecticut Housing Finance Authority). They allow you to purchase a home with no money down on the loan. You do still have some other costs that are involved with a purchase but its ideal for a first time buyer whom maybe doesn’t have the normal 3.5% or 5% down payment. So what are the qualifications for this loan? Here are the basics*

  • Minimum credit score of a 650 (no active collections)
  • 2 years of employment at same job or in same field/position
  • 2 years of tax returns/W2s
  • 60 days of bank statements and paystubs

When buying a home, you do still have the buyer inspection (average of about $400) and appraisal (average of about $500). These costs will need to be paid by the buyer and are not included in the loan.

The time frame on these loans is slightly longer as you have to get a bank and CHFA final approval. You can expect about a 60 day closing (from time your offer is accepted until the day you get keys).


I hope this give you a better idea of whats needed and what 100% financing entails. As always, if you have any questions or would like to begin the process, we are here to help you.

If credit is an issue and you need help in that area, please hit the “Credit Repair Assistance” tab at the top of the site.



*Some cases and situations will vary per borrower as every situation if different.

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