CHFA announces $4.75 million for mobile home purchase and refinance programs

A significant funding boost for mobile manufactured home financing was announced during the Mobile Manufactured Home Advisory Council meeting on May 28, 2025. The Consumer Protection Department revealed a $4.75 million allocation aimed at enhancing homeownership opportunities for residents in Connecticut.

The program will primarily focus on facilitating purchases, with approximately $3.75 million earmarked for new home acquisitions and around $1 million designated for refinancing existing mortgages. Homeowners who have held their property or mortgage for at least six months will be eligible for a competitive fixed interest rate of 3%. This initiative is expected to provide much-needed financial relief and support to many homeowners in the state.

First World Mortgage, a leading lender in the Connecticut Housing Finance Authority (CHFA) network, is set to participate in the program, alongside other lenders currently undergoing training. All participating lenders will adhere to the same terms and conditions, ensuring uniformity in rates and closing costs for borrowers.

The rollout of this enhanced program began last week, and outreach efforts are underway to inform relevant organizations, including the Connecticut Manufactured Homeowners Alliance and local park owners. Council members emphasized the importance of spreading awareness to maximize the program's impact, particularly among residents in mobile home parks.

As the program gains traction, stakeholders are optimistic about its potential to open doors for many families seeking affordable housing solutions in Connecticut.