Connecticut HB05314 revises the "Homes for CT" loan program to allow loans with interest rates not exceeding the prime rate.

Connecticut HB05314 modifies the "Homes for CT" loan program by allowing loans to bear interest rates not exceeding the prime rate published by The Wall Street Journal. The loans must be secured by a mortgage on the borrower's residential buildings and improvements. The Connecticut Housing Finance Authority can establish terms for these loans, including amounts, interest rates, and maturity terms. This act takes effect on July 1, 2026.

Connecticut HB05314 revises the "Homes for CT" loan program to allow loans with interest rates not exceeding the prime rate.

Connecticut HB05314 modifies the "Homes for CT" loan program by allowing loans to bear interest rates not exceeding the prime rate published by The Wall Street Journal. The loans must be secured by a mortgage on the borrower's residential buildings and improvements. The Connecticut Housing Finance Authority can establish terms for these loans, including amounts, interest rates, and maturity terms. This act takes effect on July 1, 2026.