CHOICE is the HMFA's comprehensive financing program for the development of newly constructed and substantially rehabilitated homeownership (owner-occupied primary residence) housing in New Jersey. The program features below-market interest rate construction loans and construction subsidy funding for developers as well as favorable end loan financing for eligible homebuyers.

CHOICE is intended to be a catalyst for the creation of viable homeownership markets in municipalities where home values currently do not support a sustainable new construction housing market. CHOICE is also intended to assist with the creation of resale-restricted affordable homeownership housing in municipalities that have viable homeownership markets overall but have included affordable housing in their redevelopment area plans.