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:

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Section 8 Housing Choice Voucher Homeownership Program
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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

FirstHome Mortgage Program in North Carolina
One of the programs of the agency is the FirstHome Mortgage Program wherein they seek to offer 30-year fixed interest rate mortgages to first time home buyers in the State of North Carolina.

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First Time Homebuyer Programs in Idaho
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Department of Housing and Urban Development's Dollar Homes Program
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Down Payment Assistance Loan for First Time Home Buyers in New York
In line with this, The State of New York Mortgage Agency has been running the Down Payment Assistance Loan Program (DPAL) wherein it intends to help first time home buyers overcome the setbacks brought about by down payments and closing costs.

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