Connecticut First-Time Homebuyer Calculator
First-time homebuyer costs in Connecticut: $13,300 FHA down payment, $11,780 closing costs, 2.14% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Connecticut. Includes down payment, closing costs (3.1%), PMI (required below 20% down), property tax (2.14%), and homeowners insurance ($1,750/yr). Note: Connecticut requires an attorney at closing. DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Connecticut homebuyer facts: Median price $380,000 | 20% down = $76,000 | FHA 3.5% down = $13,300 | Closing costs ~$11,780 | Property tax 2.14% | Attorney required at closing.
Frequently Asked Questions
How much do I need to buy a house in Connecticut?
For Connecticut's median home ($380,000): FHA minimum down payment is $13,300 (3.5%), plus $11,780 in closing costs. Total minimum: ~$25,080. With 20% down to avoid PMI: ~$87,780.
What are closing costs in Connecticut?
Connecticut closing costs average 3.1% of the home price, or about $11,780 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and required attorney fees. Transfer taxes are 0.75%.
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