The Connecticut Housing Finance Authority, also known as CHFA, is a self-supporting quasi-public housing agency operating in the State of Connecticut. The agency was established in the year 1969 in an effort to deal with the worries regarding the dearth or inadequate supply of affordable housing chances for Connecticut’s low- and moderate-income families and individuals.
Other states offer similar programs visit first time home buyer programs in Illinois to investigate these opportunities.
The grants and programs of the CHFA are targeted at the steady awareness of its mission which is to”help diminish the shortage of cost-effective housing for low- and moderate-income families and folks in Connecticut, and when acceptable, to plug or maintain the industrial development of the state through employer-assisted housing efforts.”
In line with this mission, the Connecticut Housing Finance Agency has established the Homeownership Programme wherein it means to provide reasonable home loans with below-market interest rates to tenants occupying in public assisted housing who’d like to transition from hiring into homeownership.
The primary target market of the programme are tenants who haven’t yet owned a home before, but in most cases, the agency will make an exception for renters who’ve formerly owned a home before but need to acquire a new home in a targeted area.
Some of the key features of Homeownership Programme is its reasonably low rate of interest which is like Interest rate: 3.250%** (APR range 3.35 – 3.75%), and its reasonable fixed mortgage repayment schedule that could last up to 30 years.
In addition to first time home buyer assistance many states provide assistance to people interested in small business, for example visit small business grants in Oklahoma for opportunities in that state.
In order to be deemed eligible to submit an application under the program, a borrower must satisfy the following suitability requirements:
1) First time homebuyers renters who meet the minimum credit, income, and work factors
2) Renters who are currently receiving help under the Section 8 Rental Assistance Programme, the Department of Development Services or the State Moderate Rental Program
3) Tenants living in properties managed by the CHFA or a city housing authority
4) Tenants residing in CHFA-financed rental properties
5) Tenants residing in HUD-subsidized housing
In addition, the types of properties that covered under the Homeownership Program are restricted to the following:
1) Existing and new single-family homes, townhouses and Planned Unit Developments
2) Recently built houses that meet the energy conservation standards that are set by the Federal Housing Authority
3) Condominiums that are accepted by the CHFA
4) Two- to four-family houses which have been employed as residences for the past five years or newly constructed two-family homes that is found in a Targeted Area
5) Selected mobile homes that meet the standards of the CHFA.
If you’re an interested borrower and you wish to learn more about this progra, you can visit CHFA’s official website at www.chfa.org.
In addition to first time home buyer assistance many states provide assistance to people investigating finance opportunities for a small business, you can get information on small business grants and financing in Florida.
Michael Saunders is an editor of TopGovernmentGrants.com one the the most elaborate Sites that provide info on govt grants and central government programs.
He also maintains Web sites providing resources on grants for youth programs and DIY grants.


