CT HB05314

Changes the interest rate benchmark for "Homes for CT" loans from the Federal Home Loan Bank of Boston's New England Fund rate to the prime rate published by The Wall Street Journal

Removes the requirement that the applicable rate correspond to the term of the loan being made by the participating financial institution

Authorizes the Connecticut Housing Finance Authority to issue grants-in-aid to eligible borrowers in addition to making loans, within resources allocated by the State Bond Commission

Specifies that CHFA loans may be amortizing, deferred, or forgivable as to principal and interest, and must be subordinate to loans from eligible financial institutions

Effective date: July 1, 2026