CHFA Police Homeownership Program

CHFA Police Homeownership Program is a first mortgage for homebuyers in Statewide, Connecticut, administered by Connecticut Housing Finance Authority (CHFA). The Police Homeownership Program encourages police officers to buy homes in the communities where they work by offering CHFA first-mortgage loans at below-market rates with an additional 0.125% reduction (0.25% in a Targeted Area). A municipal officer must purchase in the town where they work; a state officer may purchase anywhere in CT. Combinable with CHFA's separate DAP second mortgage. Below-market first-mortgage rate, additional 0.125% reduction (0.25% in Targeted Areas). For municipal and state police officers. Combinable with CHFA DAP and Time To Own. Funding comes from CHFA bond financing.

CHFA Police Homeownership 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.

CHFA Police Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Must be a first-time buyer or not owned a home in the past 3 years; waived in a Targeted Area. May not own other property at closing. On credit, the program states: Not published on consumer materials; determined by the underlying first-mortgage product and CHFA underwriting. A homebuyer education course is required, 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. Residency requirement: Municipal police officers must purchase in the town where they work; state officers may purchase anywhere in CT. Reduced-rate CHFA FIRST MORTGAGE (0.125% off; 0.25% in Targeted Area) — DPA piece is the separate DAP second mortgage. Municipal officer must buy in the town where they work; state officer anywhere in CT. Limited to police in Participating Towns or State programs. Min credit score, max DTI, max liquid assets, exact AMI%, funding cap not published (blank).

CHFA Police Homeownership 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.

CHFA Police Homeownership 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.

CHFA Police Homeownership Program names law enforcement officers 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.

CHFA Police Homeownership Program serves homebuyers 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.

Applications for CHFA Police Homeownership Program 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/registered by a CHFA-Participating Lender; rate set the day the lender registers the loan. 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.