Section 8 Housing Choice Voucher Homeownership Program

by: Iola Bonggay

The Connecticut Housing Finance Authority, more often referred to as CHFA, is self-supporting quasi-public housing agency that is located in the State of Connecticut. The agency was constituted in the year 1969 in an attempt to address the issues and concerns regarding the prevalent lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

The attempts and initiatives of the CHFA are thoroughly designed to contribute to the 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 accordance with this mission, the Connecticut Housing Finance Agency has been administering the Section 8 Housing Choice Voucher Homeownership Program wherein they intend to offer home loans at reasonable, below-market rates to Section 8 tenants who wish to purchase a home of their own.

The program will form partnerships with several local Public Housing Authorities (PHAs) all over the State of Connecticut and will provide homes loans at below-market interest rate of 3.250%**, fewer mortgage fees, and finally, a fixed 30-year mortgage repayment plan.

The borrowers who are qualified to avail of the benefits that will be given under this program are the following:

  (continued...)

Section 8 Housing Choice Voucher Homeownership Program
  Page 2

About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

First Time Homebuyer Programs in Connecticut
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.

---

Department of Housing and Urban Development's Dollar Homes Program
The Dollar Homes Program revolves around the process of selling single family homes for a superbly reasonable price of $1 (plus closing cost) to low-to-moderate income families, granted that these houses have been acquired through foreclosure by the Federal Housing Administration, and have already been actively marketed for at least six months and still remained unsold after that certain period of time.

---

First Time Homebuyer Programs in Maine
The first time homebuyer programs of MaineHousing are all especially designed to contribute to the achievement of its primary agency mission which is to "assist Maine people to obtain and maintain decent, safe, affordable housing and services suitable to their unique housing needs."

---

Government Grants for Housing Assistance
Do you have a bad credit record but want to get a house? the government just might help. Read this!...

---