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 Connecticut Housing Finance Agency has been administering the Section 8 Housing Choice Voucher Homeownership Program wherein they intend to offer home loans at reasonable, below-market rates to Section 8 tenants who wish to purchase a home of their own.
The state of Georgia offers a variety of programs to assist first time home buyers. The programs are offered primarily through the Georgia Department of Community Affairs.
Glasgow Caledonian University (GCU) has launched a series of noteworthy research projects to learn if social enterprises can help Scotland lose its “sick man of Europe” label and boost the nation’s overall health.