Chelsea Groton Bank has been approved as a participating lender in the Connecticut Housing Finance Authority (CHFA) Mobile Manufactured Home Loan Program. Chelsea Groton joins a select group of lenders authorized to offer this innovative program, designed to expand affordable housing opportunities across Connecticut.
CHFA’s program allows the financing for mobile manufactured homes located on leased sites in licensed parks without requiring the dwelling to be permanently attached to a foundation.
“We’ve had a longstanding partnership with CHFA, and are excited to work together on another innovative affordable home loan offering,” said Matt Morrell, First Vice President and Retail Lending Sales Manager. “By expanding financing options for mobile manufactured homes, we’re making homeownership more accessible for individuals and families across our communities.”
Eligible borrowers include first-time homebuyers and prior homeowners who do not own other property at the time of purchase. Existing mobile manufactured homeowners may also refinance through the program. Borrowers must meet CHFA income limits, and first-time buyers are required to complete a CHFA Homebuyer Education class.
For more information or to apply for a CHFA Mobile Manufactured Home Loan, please visit chelseagroton.com/mobilehome.
Chelsea Groton proudly offers many additional affordable lending programs to the community through their longstanding partnership with CHFA, as well as with the Veterans Administration, Federal Housing Administration (FHA), US Department of Agriculture (USDA), and several down payment assistance and grant programs, including FHLB Equity Builder, HDF SmartMove, and CHFA DAP.
Please visit chelseagroton.com for more information or contact a lender about specific eligibility requirements.
