CHFA Mortgage Programs for Residents of Public Housing

CHFA Mortgage Programs for Residents of Public Housing is a first mortgage for homebuyers in Connecticut, administered by Connecticut Housing Finance Authority (CHFA). This CHFA program eases the transition from renting to homeownership for qualified tenants of public/assisted housing by offering below-market interest rate first mortgages with a 0.125% rate discount, 0% down payment, and an optional reduced-rate (as low as 1%) DAP second mortgage for down payment and closing costs. Low interest rate (0.125% discount). 0% down payment. Reduced-rate second mortgage (as low as 1%) for down payment & closing costs. Below-market first mortgage. Funding comes from CHFA bond proceeds.

CHFA Mortgage Programs for Residents of Public Housing is a first mortgage and is repaid under the terms set by Connecticut Housing Finance Authority (CHFA). The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

CHFA Mortgage Programs for Residents of Public Housing is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Eligible if purchasing in a Targeted Area even if owned a home in the past three years; income limit waived in Targeted Areas for those not applying for DPA. On credit, the program states: Must meet minimum credit, income, and employment standards. A homebuyer education course is required, through Free CHFA Homebuyer Education class required prior to closing. Residency requirement: Must be a tenant of public housing / receive rental assistance, or reside in housing managed or financed by CHFA, subsidized by HUD, or managed by a local housing authority. Property in Connecticut and primary residence. Borrower must be a tenant of public housing or receive rental assistance (or reside in CHFA/HUD/local-authority housing). Apply through a CHFA-Approved Lender. Program page live and active as of June 2026.

CHFA Mortgage Programs for Residents of Public Housing limits household income to $174,440. 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.

CHFA Mortgage Programs for Residents of Public Housing caps the purchase price at $750,000. Eligible property types include Single Family, Townhouse, Condo, 2-4 Unit, and PUD. Manufactured homes are not eligible.

CHFA Mortgage Programs for Residents of Public Housing serves homebuyers purchasing anywhere in Connecticut. The program targets specific areas: Targeted Area exception waives first-time buyer rule and income limit (for non-DPA applicants).

Applications for CHFA Mortgage Programs for Residents of Public Housing go through Connecticut Housing Finance Authority (CHFA), which publishes the current terms and the application steps on its own site. Funds are reserved through Reserved/locked by CHFA Participating Lender via CHFA LOS. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.