Connecticut Mortgage Loans CHFA

[Nicole Grenier]

Hello Everyone! Looking for some help understanding all the tax implications of a CHFA loan.  There is an IRS tax recapture if 3 things happen:

1. I sell within 9 years

2. Make over a certain salary at time of sale

3. Profit a certain amount when I sell.

I am currently going through the process of obtaining a CHFA loan and I am worried about the above 3 rules.  Anyone have any info on the limits/how to calculate?  I called CHFA and they could not give me any specifics.  I also found some info online but am have trouble doing calculations on my own.   Any help is much appreciated!