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.

---

Buying A Home After Bankruptcy - Get A Mortgage Loan After Bankruptcy
If you have a recent bankruptcy on your credit and are looking to get financing for a home, there is hope. Buying a home with bad credit will just put more emphasis on the other two factors needed to...

---

Keystone Government Loan Program for Homebuyers in Pennsylvania
The Pennsylvania Housing Finance Agency has been running the Keystone Government Loan Program in which it intends to provide first mortgage financing on loans that are insured by the Federal Housing Administration, the Rural Development, and the Department of the Veterans' Affairs.

---

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.

---