Connecticut Down Payment Assistance Program
$25,000
About the Program
** UPDATE **
On December 18, 2025, the Connecticut State Bond Commission authorized an additional $25,000,000 for Time to Own (TTO).
As of February 23, 2026, the following amount is available for loan reservations: $36,945,730.
For a limited time, CHFA will offer the Time To Own - Forgivable Down Payment Assistance loan to help alleviate potential homebuyers' inability to cover the down payment and closing costs required to purchase their first home. Administered by CHFA on behalf of the CT Department of Housing, the Time To Own loan is available to eligible homebuyers in conjunction with a CHFA first mortgage loan.
Program Benefits
- 0% Interest rate with no monthly payment required.
- Ten percent (10%) of the principal balance will be forgiven annually, on the anniversary date of the loan closing, until the loan is fully forgiven on the tenth anniversary.
- Financing to cover up to 20% down payment and up to 5% closing costs.
- Loan amounts up to $25,000
Eligibility Requirements
The Time To Own loan is only available to eligible applicants that qualify for and receive a CHFA first mortgage.
- Applicants must be a current resident of Connecticut and able to demonstrate residency for the most recent three (3) years.
- Applicants who are not first - time homebuyers may also apply if they plan to purchase in a targeted area of the state. Borrowers may not own any other property at the time of the CHFA mortgage closing.
- The minimum Time To Own loan amount is $3,000.
- Applicants must meet all CHFA first mortgage and Time To Own loan program eligibility and underwriting criteria. The CHFA- Participating Lender will work with applicants to determine complete program eligibility requirements.
- Learn more about taking the first steps to becoming a homeowner here.
Additional Program Resources
- Time To Own Program Area Median Income (AMI) Limits.Download PDF
- CHFA Sales & Income Limits and Targeted Areas.Download PDF
- Lender Time to Own Worksheet - for Reservations on or after 9/23/24
- Time to Own Program Dashboard (updated weekly)
How to Apply
Contact one of the lenders from the CHFA Participating Lender List.
For additional questions, you may contact the CHFA Homeownership Department at (860) 571-3541 or email sfaminquiry@chfa.org
Explore Communities Across Connecticut
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