Homeownership Program for First Time Homebuyers in Connecticut

by: Michael Saunders

The Connecticut Housing Finance Authority, otherwise known as CHFA, is a self-supporting quasi-public housing agency operating within the State of Connecticut. The agency was established in the year 1969 in an effort to address the concerns regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

The programs of the CHFA are aimed at the constant realization of its mission which is to "help alleviate the shortage of affordable housing for low- and moderate-income families and persons in Connecticut, and when appropriate, to promote or maintain the economic development of the State through employer-assisted housing efforts."

In line with this mission, the Connecticut Housing Finance Agency has established the Homeownership Program wherein it intends to provide reasonable home loans with below-market interest rates to tenants occupying publicly assisted housing who wish to transition from renting into homeownership.

The initial target market of the program are tenants who have not yet owned a home before, but in most instances, the agency will make an exception for tenants who have previously owned a home before but want to acquire a new home in a targeted area.

Some of the key features of Homeownership Program is its fairly low interest rate which is equivalent to Interest rate: 3.250%** (APR range 3.35 - 3.75%), and its reasonable fixed mortgage repayment plan that could last up to 30 years.

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Homeownership Program for First Time Homebuyers in Connecticut
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About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on grants for youth programs and home improvement grants.

Additional Resources

category - Home Buying Programs

Government Grants within the United States Housing Sector
The government has established quite a slew of agencies that are specifically designed to administer housing programs and assist the needs of homebuyers, renters, and property developers.

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First Time Homebuyer Programs in Georgia
In July 1996, the Governor and General Assembly made a vital decision to join together the Georgia Housing and Finance Authority (GHFA) with the Department of Community Affairs.

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Keystone Home Loan Program For First Time Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency, more commonly referred to as PHFA, is an independent agency that was established in the year 1972 in an effort to contribute to the provision of reasonable and affordable housing opportunities the elderly, persons and families of modest means, and people suffering from disabilities.

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Urban Rehabilitation Homeownership Program for Homebuyers in Connecticut
The Connecticut Housing Finance Authority, otherwise known as CHFA, is an independent quasi-public housing agency operating within the State of Connecticut that was established in 1969 in an effort to lessen or alleviate the hurdles regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

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