Buying a home
Data from November 2026
Buying a home in Connecticut
A typical home in Connecticut is worth $366,900 (Average 2020–2024). The FHA limit for one unit is $541,287–$977,500 depending on the place. Here is the minimum down payment each loan type asks at that price, every place’s limit, and the state’s assistance programs.
Key numbers in Connecticut
- Typical home
- $366,900
- median value, Average 2020–2024
- 10% more than the U.S.
- FHA limit
- $541,287–$977,500
- one unit, by place
- In 2 of the 9 places, the limit is above the national floor ($541,287).
- Conforming limit
- $832,750
- up to $977,500 in high-cost areas
- Above this amount, the loan is a “jumbo” loan.
- Minimum FHA down payment
- $12,842
- 3.5% of a $366,900 home
- VA and USDA ask for no down payment if you qualify.
Down payment
How much each loan asks up front
For a $366,900 home, the typical value in Connecticut. The minimum down payment is each program’s rule. The monthly figure is an example of principal and interest over 30 years at the 7.18% average rate (November 5, 2026): no taxes, insurance or mortgage insurance.
Your price, rate and down payment will differ: run the calculator with your numbers. Closing costs are extra.
-
FHA Program rule
Minimum down3.5%
In dollars$12,842
Per month$2,399
With a credit score of 580 or more. Carries mortgage insurance (MIP) up front and every month.
HUD Handbook 4000.1 (Update 18), II.A.2.a.iv — Minimum Required Investment · In effect since September 14, 2016
-
Conventional Program rule
Minimum down3%
In dollars$11,007
Per month$2,411
3% is the lowest standard option. With less than 20% down you pay private mortgage insurance (PMI) until you have more equity.
Fannie Mae Selling Guide B5-6-01 — HomeReady Mortgage Loan and Borrower Eligibility · In effect since January 1, 2024
-
VA Program rule
Minimum down0%
In dollars$0
Per month$2,486
For veterans, service members and some spouses. No down payment as long as the price is not above the appraisal; charges a one-time funding fee.
VA: Purchase loan — benefits · In effect since January 1, 2020
-
USDA Program rule
Minimum down0%
In dollars$0
Per month$2,486
Only homes in eligible rural areas and households within USDA’s income limit. Finances the full price.
7 CFR §3555.103 — Maximum loan amount (Guaranteed Rural Housing Program) · In effect since December 9, 2013
-
ITIN loans follow no federal rule: each lender sets its own down payment and rate, and usually asks for more. 15% is an example.
Loan limits
FHA and conforming limit in every place
FHA sets the limit by area: 2 of the 9 places in Connecticut are high-cost and sit above the national floor ($541,287). The conforming limit is the most Fannie Mae and Freddie Mac will buy; above it, the loan is a “jumbo”.
| Western Connecticut Planning Region | $977,500 | $977,500 | $652,900 | High-cost |
|---|---|---|---|---|
| Greater Bridgeport Planning Region | $977,500 | $977,500 | $428,800 | High-cost |
| Lower Connecticut River Valley Planning Region | $541,287 | $832,750 | $379,700 | National floor |
| South Central Connecticut Planning Region | $541,287 | $832,750 | $353,100 | National floor |
| Northwest Hills Planning Region | $541,287 | $832,750 | $335,600 | National floor |
| Capitol Planning Region | $541,287 | $832,750 | $323,700 | National floor |
| Southeastern Connecticut Planning Region | $541,287 | $832,750 | $323,400 | National floor |
| Naugatuck Valley Planning Region | $541,287 | $851,000 | $317,700 | National floor |
| Northeastern Connecticut Planning Region | $541,287 | $832,750 | $307,600 | National floor |
- Western Connecticut $977,500$977,500
- Greater Bridgeport $977,500$977,500
- Lower Connecticut River Valley $541,287$832,750
- South Central Connecticut $541,287$832,750
- Northwest Hills $541,287$832,750
- Capitol $541,287$832,750
- Southeastern Connecticut $541,287$832,750
- Naugatuck Valley $541,287$851,000
- Northeastern Connecticut $541,287$832,750
One unit. For 2- to 4-unit homes, each place page has the full table. Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD) (external site)
Down payment help
Connecticut programs for buyers
3 verified programs that put money toward the down payment or closing costs, or give a tax credit. With the source wording and the date we checked it.
Some help is a grant you never repay; other help is a second loan that is forgiven over the years or repaid when you sell. Each program’s tag says which kind it is.
See all programs-
Downpayment Assistance Program (DAP) Loan
Verified November 5, 2026
Connecticut state agency second mortgage for the down payment and closing costs: 4% of the price, between $3,000 and $15,000, together with a CHFA mortgage
- Repayable
-
Time To Own - Forgivable Down Payment Assistance
Verified November 5, 2026
Connecticut state agency loan of up to $25,000, with no interest or monthly payments, for the down payment and closing costs, forgiven 10% each year over ten years; it goes with a CHFA mortgage
- Forgivable
-
Next Move with Deferred Down Payment Assistance Program
Verified November 5, 2026
Connecticut state agency mortgage for first-time buyers and for people who have owned a home before, with deferred 0% help of up to 3.5% of the loan for the down payment or closing costs
- Deferred
What the state publishes
Connecticut rules that change the math
Exemptions that lower property tax and taxes paid when the deed is recorded, summarized from the official page each one cites.
Property tax in ConnecticutExemptions and caps
-
Tax credit for owners 65 and older or totally disabled (Circuit Breaker)
State law gives a property tax credit to Connecticut owners who live in their home, are 65 or older or totally disabled, and whose yearly income does not go over certain limits. The local assessor figures the credit and the tax collector applies it to your tax bill. The credit can be up to $1,250 for married couples and $1,000 for single people, based on an income scale. You apply at the assessor's office between February 1 and May 15.
Conn. Gen. Stat. §12-170aa · Connecticut Office of Policy and Management (OPM) · Verified October 24, 2026
When the sale is recorded
-
State real estate conveyance tax, in price brackets
For a home, the State charges 0.75 percent of the first $800,000 of the price, 1.25 percent of the part between $800,000.01 and $2,500,000, and 2.25 percent of the part above $2,500,000. The seller pays it; municipalities also charge their own conveyance tax.
Conn. Gen. Stat. §12-494 · Connecticut Department of Revenue Services (DRS) · Verified October 23, 2026
Your next steps
Where to go next in Connecticut
What you can do today, free and without giving personal information. Go in order: your numbers first, then the help.
- Run the numbers with your figures
The Connecticut calculator already has the typical value, the average rate and the state’s property tax.
- Check whether you qualify for help
Each program says what it gives, who qualifies and when we checked it.
- Talk to a counselor for free
13 HUD-approved agencies help you prepare to buy; 9 say they serve in Spanish.
- Follow the steps to buy a home
From the budget to the keys, in order.
Frequently asked questions
How much down payment do I need for a typical home in Connecticut?
For a $366,900 home (typical value, Average 2020–2024), the FHA minimum (3.5%) is $12,842 and the conventional minimum (3%) is $11,007. VA and USDA ask no down payment if you qualify. State programs can cover part of it.
Are there high-cost places in Connecticut?
Yes. In 2026 data, 2 of the 9 places in Connecticut have an FHA limit above the national floor ($541,287); the highest is Western Connecticut Planning Region ($977,500).
What is the conforming loan limit in Connecticut?
In 2026 data, the conforming limit for one unit runs from $832,750 to $977,500 depending on the place in Connecticut: the most Fannie Mae and Freddie Mac will buy. Above it, the loan is a “jumbo” and each lender sets its own terms.
What would the monthly payment be on a typical home in Connecticut?
With $366,900, the FHA minimum down payment ($12,842) and the 7.18% average rate (November 5, 2026), principal and interest over 30 years comes to about $2,399 a month. Tax, insurance and mortgage insurance are missing: the calculator adds them.
What down payment help is there in Connecticut?
We have verified 3 state programs in Connecticut that put money toward the down payment or closing costs, or give a tax credit. Each shows the source wording, who qualifies and the date we checked it.