How much down payment do I need to buy a house in Connecticut?

You can buy a home in Connecticut with as little as 0% down (VA/USDA), 3% down ($11,250 conventional), or 3.5% down ($13,125 FHA) on the median-priced home of $375,000.

What income do I need to buy a home in Connecticut?

To afford the median-priced home in Connecticut ($375,000) with a 30-year mortgage at 6.2%, you typically need a household income of approximately $92,984 per year (using the 28% rule). The median income in Connecticut is $83,771.

What is the FHA loan limit in Connecticut for 2026?

The FHA loan limit in Connecticut for 2026 is $472,030. This means first-time buyers using FHA loans can finance up to this amount with just 3.5% down payment.

First-Time Home Buyer Connecticut 2026

Q: What first-time home buyer programs are available in Connecticut?

Connecticut offers 2 major first-time buyer programs including CHFA Down Payment Assistance, Time to Own Program. These programs provide grants, forgivable loans, and below-market rates to help with down payment and closing costs.

Your complete guide to buying your first home in Connecticut. 2+ down payment assistance programs, FHA loans from 6%, and step-by-step guidance.

Median Price

$375,000

Min Down (FHA)

$13,125

DPA Programs

Best Rate

Check My Connecticut Eligibility

What First-Time Buyer Programs Are Available in Connecticut?

Connecticut offers 2 major first-time home buyer assistance programs. These include CHFA Down Payment Assistance, Time to Own Program. Programs provide up to $20,000 in down payment assistance through grants, forgivable loans, and below-market interest rates.

How Much Do I Need to Buy in Connecticut?

You can buy a home in Connecticut with as little as $0 down. VA and USDA loans require zero down payment. FHA loans need just 3.5% ($$13,125), and conventional loans start at 3% ($$11,250) on the median price of $375,000.

Loan Type	Down Payment	$ Amount	Monthly P&I	Min Credit
VA Loan	0%	$0	$2,236	620
USDA Loan	0%	$0	$2,297	640
Conventional 3%	3%	$11,250	$2,228	620
FHA Loan	3.5%	$13,125	$2,170	580
Conventional 20%	20%	$75,000	$1,837	620

Connecticut Down Payment Assistance Programs

CHFA Down Payment Assistance

Low-interest second mortgage for DPA

Up to $20,000low interest

Time to Own Program

Below-market rates for first-time buyers

Up to Rate reduction 1%low interest

5 Steps to Buy Your First Home in Connecticut

To buy your first home in Connecticut, start by checking your credit score, getting pre-approved, and researching DPA programs. The entire process typically takes 30-60 days from pre-approval to closing. Here's your step-by-step roadmap.

Check Your Credit & Finances

Review your credit score (aim for 620+), calculate your debt-to-income ratio, and save for closing costs. In Connecticut, you may need as little as $13,125 for an FHA down payment.

Get Pre-Approved

Compare rates from at least 3 lenders. Current Connecticut rates: 6.2% (30-year), 6% (FHA). Pre-approval shows sellers you're serious and locks your rate.

Apply for Connecticut DPA Programs

Connecticut has 2+ DPA programs. The CHFA Down Payment Assistance offers up to $20,000. Apply early—funding can be limited.

House Hunt & Make an Offer

Popular cities in Connecticut: Bridgeport, New Haven, Stamford, Hartford, Waterbury. Median price is $375,000 (+8.1% YoY). Work with a local real estate agent who knows the market.

Close on Your New Home

Closing costs in Connecticut typically run 2-5% of the purchase price ($11,250-$18,750). Some DPA programs also cover closing costs.

Start Your Connecticut Home Buying Journey

Get pre-approved in minutes and see what you qualify for.

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Connecticut First-Time Buyer FAQ

What first-time home buyer programs are available in Connecticut?

Connecticut offers 2 major programs: CHFA Down Payment Assistance, Time to Own Program. These provide grants, forgivable loans, and below-market rates for down payment and closing cost assistance.