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Home > CT

Mobile Manufactured Home Loan Program

Type Of Program

Tax Credit

Program distribution

Forgiveable Second Mortgage

Program Originator

Connecticut Housing Finance Authority (CHFA)

Amount

$0.00

Contact

Blocks

Location
Nationwide
Description

The CHFA's Mobile Home Mortgage program offers low interest rates, low closing costs, and low monthly payments for homebuyers purchasing a single or double-wide manufactured home in a Connecticut state-licensed mobile park. This program has limited funding.

Eligibility Requirements

  • Prior homeowners are eligible cannot own any other property
  • Mobile home must be primary residence
  • Sales price of the mobile home must be within CHFA Sales Price Limits
  • Gross income must be within the CHFA Income Limits (exceptions when purchasing a home in a Targeted Area)
  • CHFA Resource Map shows eligibility limits: https://www.chfa.org/homebuyers/chfa-resource-map-target-areas/

 

Property Guidelines

  • Mobile home must be affixed to a permanent foundation, with the wheels, axels, and hitches removed
  • Mobile home must be a year-round home located in a state-licensed mobile home park
  • Buyer must enter a yearly, renewable lot lease agreement before closing

 

Additional Considerations

  • Buyer must attend a free Homebuyer Education class prior to closing.
  • Buyer must make a down payment of at least 20%. CHFA will lend up to 80% of either the appraised value or purchase price of the mobile home, whichever is less. 
  • Cannot be combined with Downpayment Assistance Program (DAP)

 

 

AMI Limit

No

AMI

Employer Participation Required

No

Must Earn Counseling Certificate

Yes

Eligibility Limitations

* Prior homeowners are eligible to apply but cannot own any other property * Must be primary residence * Sale price must be within CHFA limits * Gross income must be within CHFA limits (unless purchasing in a targeted area)

Cash Sale Permitted

No

Cosigner Permitted

No

Owner Financing Permitted

No

Must be Primary Residence

No

Program Provider's Contact Name

Program Provider's Address

999 West Street • Rocky Hill, CT 06067

Program Provider's Phone

8605713502

Program Provider's Email

customer.service@chfa.org

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