Time To Own Forgivable Loan Program
Governor Lamont announced the launch of the Time to Own Forgivable Down Payment Assistance loan program with an initial $20 million investment in June 2022. Available to eligible homebuyers in conjunction with a CHFA first mortgage loan, Time to Own homebuyers may layer the CHFA Down Payment Assistance (DAP) loan with the Time to Own loan.
Due to its popularity, the State Bond Commission approved an additional $20 million investment in December 2022.
As of the end of 2022, 675 families attained the dream of homeownership using the TTO program. There were 926 reservations across 118 communities. Forty-nine percent of all TTO reservations are from people of color.
June 13, 2022
Governor Lamont announces Time To Own Program with initial $20 million investment
December 8, 2022
Time To Own receives an additional $20 million in funding from the Bond Commission, bringing total program funding to $40 million.
December 31, 2022
CHFA has received 926 Time To Own reservations totaling $28.5 million
Down Payment Assistance Program (DAP)
1,242 new home buyers used a DAP mortgage product to secure the funds for their new homes across 116 communities.
