State Guides/Connecticut
CT

Connecticut Home Buying Guide

Northeast Region · Judicial Foreclosure State

Attorney Required

Key Facts at a Glance

Median Home Price
$375,000
Property Tax Rate
2.14%
Transfer Tax
0.75%
Attorney Required
Yes
Foreclosure Type
Judicial

What Makes Connecticut Unique

High property taxes — one of the highest in the US

Attorney required at closing

Judicial foreclosure process provides buyer protections

First-Time Buyer Programs in Connecticut

1

CHFA First-Time Homebuyer Program

Contact your state housing finance agency for current eligibility and rates

2

CHFA Down Payment Assistance Program

Contact your state housing finance agency for current eligibility and rates

3

Time to Own Program

Contact your state housing finance agency for current eligibility and rates

Program availability, income limits, and interest rates change frequently. Verify current terms with your lender or state housing finance agency.

Closing Costs in Connecticut

1.8%
Avg Closing Costs
of purchase price
$6,750
Estimated Closing Costs
on median-priced home
0.75%
Transfer Tax
may be split with seller

Attorney at Closing

Attorney Required at Closing

Connecticut requires a licensed real estate attorney to oversee the closing process. Budget $500–$1,500 for attorney fees.

Local Tips for Connecticut Buyers

1

Factor in high ongoing property taxes when budgeting.

2

CHFA Time to Own offers 0% down second mortgage for DPA.

3

Judicial foreclosure means more borrower protections.

Estimated Annual Ownership Cost in Connecticut

Based on the median home price of $375,000 with a 10% down payment and 7% mortgage rate.

Annual Mortgage Payment$26,933
Annual Property Taxes$8,025
Homeowners Insurance (est.)$1,875
Maintenance (est. 1%/yr)$3,750

Ready to Calculate Your Numbers?

Use our free calculators to estimate your monthly payment, affordability, and closing costs in Connecticut.