This past week we received some very good news. Connecticut Housing Finance Authority announced that private sector employers would no longer have to contribute any funds to the home purchase transaction of their employees if they wanted to take advantage of the CHFA Urban Rehabilitation Mortgage Program. Up until this past week, if an employee wanted to use the CHFA UR program they had to receive a financial contribution of anywhere from $500.00 -$2,500.00 from their employer. In some cases the employer would not agree to do this, thus precluding the employee from taking advantage of the UR program. CHFA-UR provides a grant of up to $20,000.00 for rehab./renovation work on a one family home and up to $25,000.00 on a 2-4 family home. Eligible borrowers have to work full time in the city and purchase in the same city. Eligible cities include New London, Hartford, Waterbury, Bridgeport, New Haven and certain areas of Windham. I expect this change will generate more home sales in the eligible communities.  Since 1980, Phil Turner has helped over 10,000 clients achieve the dream of homeownership. If you are planning to buy a home, please contact Phil. You'll find his professional service and years of experience exactly what you need in Eastern Connecticut's current housing market.
Phil can be reached at McCue Mortgage, located at 8 Union Street in New London, by calling (860)444-0650 or (800)781-1180 or By EMAIL. | 
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