Every year, you may claim a dollar-for-dollar reduction of income tax liability on 20 percent of the mortgage interest on your first mortgage, reducing the amount of federal taxes owed.
Borrowers must meet income and purchase price limits, as well as complete a CHFA approved first time homebuyer education class. CHFA FirstStep and CHFA FirstStep Plus loans may be subject to the (CHFA reimbursable) IRS Recapture Tax and may not be used in conjunction with the Mortgage Credit Certificate (MCC) program.
The CHFA HomeOpener Plus program includes the CHFA Second Mortgage Loan to assist with down payment and/or closing costs for a single family property. The programs offers market interest rates.
The Rehabilitation Mortgage Insurance Program intends to financially assist families as they repair or improve, purchase and improve, or refinance and improve their current residential properties that have been existent for more than a year.
The Connecticut Housing Finance Agency has established the Mortgage Programs for Military, Police and Teachers so as to provide reasonable housing opportunities to veterans and active duty service members of the United States Military, the National Guard, along with teachers and police officers who are assigned in under-served areas.
Monika Mitchell, founder of Good Business New York, asks, Do You Have What it Takes to Be a Social Entrepreneur? She lists down the five P’s essential in every entrepreneur: Passion. Purpose. Plan. Partner. Profit.