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Understand the basic steps to becoming a homeowner.
Are you experiencing financial hardship? CHFA has programs that may help you.
Real Estate Agents
Owners and Property Managers
An Act Concerning the use of Real Estate Escrow Deposits (Public Act 91-314) went into effect on January 1, 1992 and was later amended by Public Act 92-69 on May 19, 1992. The program was established to provide mortgage assistance for low- or moderate-income families or persons with downpayments or any other appropriate housing subsidies. Under the program, real estate brokers deposit residential and commercial escrow funds into interest-bearing accounts specifically, for the Interest on Real Estate Brokers Trust Account (IOREBTA) Program.
In administering the IOREBTA program, the Connecticut Housing Finance Authority (CHFA) acts as the liaison to and consults with the Housing Advisory Panel as defined by CGS §8-265h. CHFA also manages the collection of funds and processes disbursements on behalf of the Panel. The annual report details the sources and uses of the IOREBTA program funds.
The 2019 annual report details the sources and uses of the IOREBTA program
In 2019, $76,503.22 in interest was received from 41 lenders. The top five lenders participating were TD Bank N.A., Bank of America, Wells Fargo Bank, N.A., Webster Bank, and Peoples United Bank. A complete listing of participating lenders and interest remitted is provided in the full report.