CHFA Home of Your Own Program

What is CHFA Home of Your Own Program?

CHFA Home of Your Own Program is a first mortgage for homebuyers in Statewide, Connecticut, administered by Connecticut Housing Finance Authority (CHFA).

• The Home of Your Own Program offers CHFA first-mortgage loans at below-market interest rates (an additional 0.125% off the published rate, or 0.25% in a Targeted Area) to applicants who are disabled or have a disabled household member who will occupy the home. Documentation of the disability is required. Combinable with CHFA's separate DAP second mortgage.
• Below-market first-mortgage rate, additional 0.125% reduction (0.25% in Targeted Areas).
• For borrowers with a documented disability or disabled household member.
• Combinable with CHFA DAP and Time To Own.
• Funding comes from CHFA bond financing.

Do you have to pay it back?

CHFA Home of Your Own Program is a first mortgage and is repaid under the terms set by Connecticut Housing Finance Authority (CHFA).

• The assistance is recorded in First mortgage (the DAP loan, if used, is a separate second mortgage) position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

CHFA Home of Your Own Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

CHFA Home of Your Own Program sets its income limit as follows: Borrower gross income must not exceed CHFA Income Limits by household size and CT planning region (eff. June 23, 2025). Non-targeted statewide base $124,600 (1-2 person) / $143,290 (3+), up to $178,680 / $208,460 in highest target areas. Limits do not apply in a Targeted Area unless also using DAP/certain products.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

CHFA Home of Your Own Program caps the purchase price at $561,885.

• Eligible property types include Single Family, 2-4 Unit, Condo, Townhouse, and PUD.
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

CHFA Home of Your Own Program names buyers with disabilities among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

CHFA Home of Your Own Program serves buyers purchasing in Statewide, Connecticut.

• The program targets specific areas: CHFA federally Targeted Areas (Form 064-0308). Purchasing in a Targeted Area waives the first-time requirement, may raise income limits, and gives a 0.25% rate discount.

How do you apply?

Applications for CHFA Home of Your Own Program go through Connecticut Housing Finance Authority (CHFA), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Free CHFA homebuyer education class (online or in-person); at least one borrower must attend before closing. Landlord certificate required for 2-4 family..

2. 2

   Contact Connecticut Housing Finance Authority (CHFA) to reserve funds

   Funds are reserved through Reserved/registered by a CHFA-Participating Lender; rate set the day the lender registers the loan., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.