chfa sectioneight homeownership

​program highlights:

  • 30-year fixed rate FHA 203(b) or USDA-RD purchase loans only 
  • Restricted to first-time homebuyers or qualified veterans 
  • Borrower must be receiving Section 8 assistance from an approved Section 8 agency (agency must approve voucher to be used for homeownership)
  • CHFA DPA Grant or CHFA DPA Second Mortgage Loan available for assistance with down payment, closing costs, and prepaids
  • Income limits apply 
  • Program eligibility is subject to CHFA's gross annual income calculation 
  • Minimum decision credit score of 620 or higher for all scored borrowers; borrowers with no credit score permitted 
  • See matrix below for further details