First Time Home Buyer and Affordable Lending Programs

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First Time Home Buyer and Affordable Lending Programs 

Chelsea Groton Bank has helped thousands of people to become homeowners with our many programs for first time home buyers. And we’re ready to help you too! 

Now offering $500 off closing costs for qualified first time home buyers*
 

Get started with your loan 

Already started? Complete your application.

Community Heroes Homeownership Program 
Are you or your co-borrower employed as a full-time EMT, firefighter, paramedic, police officer, nurse or teacher (K-12)?** If so, thank you for your service to the community! In appreciation for all you do, you may be eligible to purchase a home with only a 1% down payment, and up to $500 off closing costs.* There is no requirement that the community hero lives in the same town where he or she works.

Connecticut Housing Finance Authority (CHFA) 
Looking to buy in an area of CT targeted for revitalization, or trying to live in the same community where you work? A variety of home loans are available at below-market or competitive interest rates to eligible first time home buyers and prior homeowners.

Federal Housing Administration (FHA)
Is your credit score on the low side? In some cases, we can still offer lower down payments and closing costs through FHA first time home buyer loans. Let’s discuss if this makes good financial sense for today and your future.

Veteran’s Administration Home Loans (VA)
Thank you, service members and veterans, for the sacrifices you and your families have made! Service members, veterans, and surviving spouses may be eligible for home loans and other housing-related programs to help buy, build, repair, retain, or adapt a home for personal occupancy.

United States Department of Agriculture (USDA)
Interested in living away from the hustle and bustle? Through the USDA, we can assist low- and very-low-income applicants to obtain housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. 

Down Payment Assistance, Government Loan and Grant Programs:
FHLBB EquityBuilder, HDF SmartMove, CHFA DAP

We partner with a number of organizations to help qualifying buyers purchase homes with low interest rates, reduced down payments or grants.

Before you start your house hunt, get a mortgage pre-approval by contacting one of our experienced mortgage lenders.

Ready to buy?
 

Apply for a loan 

Check Rates 

Need more info? Call 860-448-4174 or email us to learn more about our mortgage options. 

Residential Lending Team

Michael Sheahan
EVP, Director of Retail Lending
(860) 448-4110
Matthew Morrell
VP, Retail Lending Sales Manager
(860) 448-4167
Marta Amor-Baker
AS, Mortgage Specialist
(860) 448-4879
Luisanna Cabrera
Mortgage Specialist
(860) 448-4196
John Cassata
Mortgage Specialist
(860) 572-4044
Beth Glynn
VP, Mortgage Specialist
(860) 448-4177
Jamie Goulas
AS, Mortgage Specialist
(860) 823-4811
Lisa Kramarewicz Gencarelli
Mortgage Specialist
(860) 448-4186
Michele Magowan
AT, Mortgage Specialist
(860) 448-4175
Melissa Raffanello
Mortgage Specialist
(860) 934-1306
Karen Stearns
AVP, Mortgage Specialist
(860) 448-4142
Richard "Rick" Turner
AT, Mortgage Specialist
(860) 823-4846
Luann Vinson
Mortgage Specialist
(860) 934-1302

*Limited time offer. Available on qualifying one-unit primary residence first position mortgage applications only. $500 credit limited to no more than actual closing costs. No partial or cash rebate. Applicable closing costs to which any credit can be applied are limited to: application fee, flood zone certification fee, document preparation fee, construction inspection fee (if applicable), lenders title insurance premium, lender’s attorney’s fee, government recording charges. Application fee must be paid by borrower at the time of application and the credit will be applied at closing. Application fees are not refundable if the transaction does not close. Applications must be received by October 1, 2020, closed by December 31, 2020. Subject to credit approval, not all applicants will qualify. Programs, rates, terms and conditions subject to change without notice. Certain restrictions may apply. All approvals subject to underwriting guidelines. Not all applicants will qualify. This offer is not a commitment to lend. Chelsea Groton Bank, 904 Poquonnock Road, Groton, CT.

** For Community Heroes Homeownership Program only: Program requires one borrower be currently employed part time or full time in one of the identified eligible occupations as determined by Bank.

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Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

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You are now leaving Chelsea Groton Bank's Website.

Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

Continue | Return

Thank you for choosing Chelsea Groton!

Chelsea Groton Bank

You are now leaving Chelsea Groton Bank's Website.

Please Note: Hyperlinked sites are not FDIC insured. Their content and functionality are not under the control or responsibility of Chelsea Groton Bank. Chelsea Groton Bank is not responsible for any link contained in any third party's site. We urge you to confirm the identity and authenticity of any third party hyperlink you enter.

Continue | Return

Thank you for choosing Chelsea Groton!