City Flats is proud to be VA-approved. If you are VA eligible, you may qualify for 100%+ financing on any of our units. Your mortgage company will help you obtain your eligibility certificate.
City Flats is FHA approved, which allows FHA and CHFA financing for our units. FHA offers a 3.5% down loan, whereas CHFA offers up to 100% financing on select units based on sales price limits for New London County.
Many lenders and mortgage companies can do conventional financing for qualified buyers at City Flats. 5%, 10%, 20% down programs exist. Some prepaid PMI options are available with this type of financing.
Reverse Mortgage Purchase
If you are 62 years or older, you may qualify for a reverse mortgage purchase (HECM – Home Equity Conversion Mortgage). This plan allows you to use roughly half of your current home’s value towards a unit at City Flats.
Down payment assistance grants may be available for qualified buyers.
Temporary seller financing may be available for qualified individuals.