Manchester Pilot Program

Manchester Pilot Program

Downpayment Assistance and/or Closing Cost Assistance Program for Manchester, CT

Eligible borrowers must be purchasing a home in specified areas of Manchester.

This program offers a reduced first mortgage interest rate of ¼% below CHFA’s regular Homebuyer Mortgage Program rate for a term of 30 years.  In addition, a 0% interest rate loan up to a maximum of $4,000 will be available from the Town of Manchester to assist with the downpayment and/or closing costs associated with the purchase of a single-family dwelling, a condominium unit, or a multifamily dwelling consisting of not more than four units.  (The Town’s 0% interest rate loan may be used for up to 50% of the downpayment amount.)

The 0% loan is provided by the Town of Manchester and is forgiven at 20% per year over a five-year period.