CT rated a top-ten state for first-time home buyers

Connecticut was rated a top-ten state for first-time homebuyers in a new survey, a reflection of the assistance offered to people trying to buy their first home. The ranking was made by MSN Real Estate on the basis of a study by HSH.com, a publisher of mortgage and consumer loan information.

“Not only does the state of Connecticut have more than three statewide programs geared toward first-time homebuyers, the programs they offer run the gamut of nearly anything a first-time buyer would need help with,” said Timothy Manni, managing editor of HSH.com.

The ranking was touted Monday by the Connecticut Housing Finance Authority, which offers a number of first-time homebuyer loan programs, including one that provides down payment assistance for otherwise qualified borrowers.

“We are seeing an increase in first-time homebuyers applying for mortgages and that’s very good news,” said Eric Chatman, the president and executive director of CHFA. First-time buyers are key to the housing market. As greater numbers of first-time buyers enter the market, current homeowners are moving up to their next home, creating a ripple effect throughout the economy.”