New Milford Police Join State Housing Program

NEW MILFORD, CT -- The New Milford Police will join 22 other local Connecticut law enforcement agencies in the Connecticut Housing Finance Authority's Police Home Ownership Program.

The CHFA offers an additional 0.125 percent off already below-market interest rate loans to help Police Officers purchase homes in the communities where they work. Participating police officers need spend no money on a down payment, and there are no asset limit requirements.

There are some restrictions, according to the agency's website:

• The participant must be a municipal Police Officer buying a home in the city or town where you work or a State Police Officer buying in a participating town.
• The participant must be a first-time homebuyer or have not owned a home in the past three years.
• The home must be the particpant's primary residence. Investment or vacation properties are not allowed.
• The sales price of the home and the participant's gross income must conform to the CHFA Income Limits.