Connecticut Time To Own program (CHFA) – 2026 funding update

Connecticut Time To Own Program: A Forgivable Down Payment Boost for Homebuyers

For many buyers in Connecticut, the biggest hurdle is cash up front. The Connecticut Time To Own program from CHFA helps cover part of the down payment and some closing costs, which can make the first purchase more manageable.

What the Connecticut Time To Own program does
CHFA offers Time To Own on behalf of the Connecticut Department of Housing. It provides a 0% interest assistance loan, and you do not make monthly payments. Instead, forgiveness reduces the balance over time.

Loan terms and forgiveness
Time To Own can cover up to 20% of the down payment and up to 5% of closing costs. The loan amount can be as high as $25,000, and the minimum loan amount is $3,000. Each year, CHFA forgives 10% of the original principal balance on the anniversary of closing. As a result, the loan is fully forgiven after 10 years.

Who may qualify
To use Time To Own, you must get a CHFA first mortgage through a CHFA-participating lender. You must also be a current Connecticut resident and show residency for the most recent three years. The program mainly serves first-time homebuyers, meaning you have not owned a home in the past three years. However, some non-first-time buyers may qualify if they buy in a targeted area and do not own other property at closing.

How approval works
A CHFA-participating lender reviews the full file and confirms program eligibility and underwriting. Because guidelines can change, it helps to check the current rules early.

Funding update and where to learn more
On December 18, 2025, the Connecticut State Bond Commission authorized an additional $25,000,000 for Time To Own. Then, as of February 2, 2026, CHFA reported $39,774,480 available for loan reservations. Program details and participating lenders are here: https://www.chfa.org/TimeToOwn

First-Time Homebuyer Guide for Northwest Connecticut