Connecticut Housing Finance Authority was created in 1969
by the State Legislature. Our purpose 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
The Connecticut Housing Finance Authority (CHFA) was created
in 1969 by the Connecticut Legislature as a self-supporting
quasi-public housing agency charged with the purpose of
expanding affordable housing opportunities for Connecticut’s
low- and moderate-income families and individuals.
Since then, CHFA has helped almost 120,000 Connecticut
individuals and families become homeowners through its
low-interest single family mortgage programs. In
addition, CHFA has financed the creation of over 32,000
affordable, quality rental units throughout the state.
To date, the combined mortgage financing for CHFA’s single-
and multifamily housing programs exceeds $11 billion.
continues to seek innovative and effective ways to respond
to the changing needs of Connecticut’s communities and meet
its statutory purpose. As one of only a few housing finance
agencies in the nation to attain AAA bond rating from
Standard and Poor’s Rating Service and Moody’s Investor
Service, CHFA is proud to celebrate 40 years of
creating and supporting affordable housing options for
Highlights of CHFA’s forty-year history include:
Per legislative mandate, CHFA launches
Connecticut Fair Alternative Mortgage
Lending Initiative and Education
Services Program (CTFAMLIES ) and
revamps the Emergency Mortgage
Assistance Program (EMAP)
for families in financial distress.
CHFA co-chairs the Sub-Prime Mortgage
Task Force convened by Governor Rell to
examine and recommend solutions to the
mortgage industry crisis.
CHFA participates in Governor Rell’s
Working Group on Affordable Housing to
study types of state-supported housing
and assistance; launches Next Steps Supportive
Housing Initiative, providing
people with special needs on-site
CHFA begins campaign to increase
homeownership rates among Latinos in the
16 federally targeted urban areas of the
CHFA extends loans to 100,000 borrowers
in 34 years under the Homebuyer Program.
CHFA enjoys all-time record year in
earnings and in Bonds issued. CHFA is
given management over $85 million in
housing loan assets from the Department
of Economic and Community Development.
CHFA receives AAA rating from Standard &
Poor’s and Moody’s Investors Service.
CHFA launches Urban Rehabilitation
Homeownership Program to increase
homeownership in the state’s 16
federally targeted urban communities and
the Military Homeownership Program to help
full-time enlisted military personnel
become homeowners. CHFA launches
Supportive Housing Pilots Initiative.
CHFA launches legislatively-mandated
Teachers Mortgage Assistance Program and
celebrates 88,000 homeowners over three
CHFA launches Police Homeownership Pilot
Program for officers in the 20 largest
CHFA granted full authority to
administer the Downpayment Assistance
CHFA’s Homebuyer Mortgage Program is
continuously funded for the first time.
CHFA and other housing agencies succeed
in persuading Congress to permanently
re-authorize Mortgage Revenue Bonds.
CHFA is one of 11 housing agencies
across the country to receive “Top Tier
Agency” rating from Standard and Poor’s.
Multifamily rental developments exceed
CHFA administers the federal Low-Income Housing Tax Credit
More than $16 million in credits is
allocated in the first six months.
The Mortgage Revenue Bond Program is
reauthorized by Congress for three
years. CHFA initiates the Reverse
Annuity Mortgage program to allow
elderly homeowners to convert equity
The Market-Rate Rental Program is
developed and begins providing financing
for non-subsidized multi-family
Governor allocates all Mortgage Revenue
Bonds to CHFA while federal legislation
restricts the use of Mortgage Revenue
Bonds for single family mortgages.
CHFA celebrates a decade! - Over 23,000
single family loans made and 7,800
rental housing units financed.
CHFA launches new loan programs -
Community Conservation Loans,
Rehabilitation Loans, Home Improvement
Loans and Urban Area Loans - and
provides first “Section 8” subsidies.
CHFA issues $153 million in Bonds and
establishes Income and Sales Price
limits for its home loan programs.
CHFA adopts General Bond Resolution and
direct lending powers.
CHFA begins with a staff of three,
$50,000 in operating funds and $4
million in bonding authority.
Connecticut Legislature creates the
Connecticut Mortgage Authority (later
called the Connecticut Housing Finance
providing it with broad statutory
authority to promote affordable housing.