Connecticut Housing Finance Authority (CHFA) Program Changes On 11/25/13. The Connecticut Housing Finance Authority (CHFA) is Connecticut’s Premier Mortgage Loan Program for “First Time Homebuyers”. CHFA is a Quasi Government Agency that provides a 30-year, fixed rate Mortgage Program, with an interest rate below comparable market rates. CHFA also provides Downpayment and Closing Cost Assistance (DAP) for First Time Homebuyers who meet the qualifications for the DAP Program. CHFA Mortgages are available to Homebuyers who have not had an ownership interest in a property for the previous 3 years. Prior Homeowners may qualify for a CHFA mortgage if the home (16 comments)