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

Second Mortgage Loan Program and Mortgage Credit Certificate for Homebuyers in North Carolina
One of the more popular programs is the FirstHome Mortgage Program for First Time Homebuyers which offer significantly low interest rates and a rather low fixed 30-year mortgage plan.

---

Downpayment Assistance Program for First Time Homebuyers in Connecticut
The Connecticut Housing Finance Authority has been running the Downpayment Assistance Program in order to financially assist first time home buyers in the process of covering the downpayment and closing costs of purchasing a home.

---

Department of Housing and Urban Development: Continuum of Care Homeless Assistance Programs
The CoC Homeless Assistance programs is designed to reduce the incidence of homelessness in established CoC communities, thereby the need to assist homeless individuals and families during the process of quickly transitioning to self-sufficiency and permanent housing.

---

First Time Homebuyer Programs in District of Columbia
The Department of Housing and Community Development, more commonly referred to as DHCD, is a local government agency in the District of Columbia that is primarily responsible for increasing quality housing and community development opportunities.

---