Connecticut Housing Finance Authority (CHFA) Company Research Report

Company Overview

• Name: Connecticut Housing Finance Authority (CHFA)

• Mission: CHFA is dedicated to alleviating the shortage of housing for low- to moderate-income families and persons in Connecticut and promoting or maintaining the economic development of the state through employer-assisted housing efforts.

• Founded: 1969

• Headquarters: 999 West Street, Rocky Hill, CT 06067, USA

• Key People: No information is available

• Number of Employees: No information is available

• Revenue: No information is available

• Known For: CHFA is renowned for providing affordable housing financing solutions, supporting over 150,000 Connecticut residents in purchasing their first homes with below-market interest rate mortgages, and facilitating the development or renovation of over 60,000 affordable multifamily apartments.

Products and Services

Homebuyer Mortgage Programs

• Description: Programs aimed at assisting first-time homebuyers with affordable mortgage options.

• Key Features: Below-market interest rate loans, forgivable down payment assistance loans, and homebuyer education resources.

Emergency Mortgage Assistance Program (EMAP)

• Description: Financial support for homeowners facing difficulty in making mortgage payments.

• Key Features: Offers emergency help to prevent foreclosures.

Reverse Annuity Mortgage (RAM)

• Description: Mortgage product designed for elderly homeowners to convert their home equity into income.

• Key Features: Provides income supplementation for qualified elderly homeowners.

Mobile Manufactured Home Refinance Program

• Description: Financial program targeted at refinancing mobile homes.

• Key Features: Offers competitive interest rates for refinancing mobile homes in Connecticut.

MyHomeCT

• Description: Initiative designed to provide comprehensive assistance to homeowners.

• Key Features: Financial relief and counseling services for homeowners experiencing financial hardship.

Multifamily Affordable Housing Financing

• Description: Financial solutions for developing and maintaining multifamily affordable housing projects.

• Key Features: Tax credit programs, favorable interest rates, and financing resources for multifamily projects.

Recent Developments

• New Programs:

• The Time to Own Program: Introduced as a forgivable down payment assistance loan to aid first-time homebuyers.

• Middle-Income Household Housing Development Program: Launched to create housing solutions for middle-income families.

• Partnerships:

• CHFA has strengthened partnerships with both public and private investors to leverage financial strength for housing projects.

• State Financing:

• Recent allocation of state financing to 9 and 14 developments across Connecticut, supporting affordable housing expansion.

• Strategic Vision:

• CHFA has rebranded with a new look to resonate its fresh direction and reinforce its commitment to its mission and values.

Key Performance Highlights (2023)

• Mortgages Delivered: 3,147 mortgages to first-time homebuyers, totaling over $737 million.

• Affordable Housing Units Closed: 1,761 units of affordable multifamily housing reached initial closing.

Contact Information

• Address: 999 West Street, Rocky Hill, CT 06067

• Phone: (860) 721-9501

• Email: Research@CHFA.org

• Website: [www.chfa.org](http://www.chfa.org)

• Social Media:

• [Facebook](https://www.facebook.com)

• [Twitter](https://www.twitter.com)

• [LinkedIn](https://www.linkedin.com)

• [Instagram](https://www.instagram.com)

• [YouTube](https://www.youtube.com)