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Builders urge committee to approve Homes for Connecticut loan guarantee to spur starter homes
Summary
Home builders testified in support of a loan‑guarantee program that would back construction loans to spur starter home production; they said the tool targets lower price points and requires local density and regulatory reforms to succeed.
The Home Builders and Remodelers Association of Connecticut told the Banking Committee that the Homes for Connecticut Loan Program (House Bill 6992) would unlock financing for starter homes by guaranteeing construction loans and making subordinate financing available to builders.
Jim Paris, CEO of the Home Builders and Remodelers Association, said Connecticut faces a severe housing shortage and low housing production rates; the association recommends a $10 million state loan guarantee fund to encourage lenders to make higher loan‑to‑value loans for new for‑sale housing targeted at first‑time buyers and workforce households.
Why it matters: Testifiers said increasing…
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