From Keith Turner of McCue Mortgage: CHFA’s interest rate has dropped to the lowest point it has EVER been. This, in conjunction with the new lower FHA premiums, means that there has never officially been a lower monthly payment than right now on an CHFA/FHA mortgage.
For government loans (FHA, VA, USDA) the rate is 2.75% (2.625% for military) (2.50% if purchasing in New London)
For those using CHFA/HFA and CHFA/Conventional and putting 20% down, the rate is 3.125%.
With good inventory in many areas of Eastern CT, now is a great time to buy a home. Really.