This program is designed to ease the transition from renting to homeownership by offering below-market interest rate loans to qualified tenants of public housing. This program is available to participants in rental assistance programs and tenants of rental housing supported by CHFA, the U.S. Department of Housing and Urban Development, and local housing authorities.
Targeted Area Exception
If you have owned a home in the past three years, you may still be eligible if you plan to purchase a home in an area of the state targeted for revitalization. CHFA will waive the income limit for eligible applicants purchasing in Targeted Areas who are not applying for a Downpayment Assistance Program loan.