California

CalHFA FHA Program

The CalHFA FHA Program provides an FHA-insured loan with a 30-year fixed interest rate, aiming to make homeownership more accessible for first-time buyers. It combines affordability with tailored assistance to support individuals in their homebuying journey.

Highlights:

• FHA-insured loan with a fixed 30-year interest rate.
• Combines affordability with tailored assistance for first-time buyers.

Eligibility:

• Primary residence occupancy.
• Completion of homebuyer education counseling.
• Adherence to CalHFA income limits.

Benefits:

• Low-interest rates for FHA-insured mortgages.
• Assistance with closing costs for eligible borrowers.
• Tailored support for first-time homebuyers.

Requirements:

• Homebuyer education counseling completion.
• Compliance with CalHFA income and property guidelines.
• Single-family, one-unit residence or approved condominiums/PUDs.
• Various property types might qualify based on program guidelines.

How to Apply:

• Prospective buyers can contact a CalHFA-approved loan officer listed on the website for guidance through the application process.

CalPLUS FHA Program

The CalPLUS FHA program features an FHA-insured first mortgage, offering a slightly higher fixed interest rate over 30 years compared to the standard FHA program. It is complemented by the CalHFA Zero Interest Program (ZIP) designed to assist with closing costs.

Highlights:

• FHA-insured first mortgage.
• Higher fixed interest rate for 30 years.
• Can be combined with CalHFA Zero Interest Program (ZIP) for closing cost assistance.

Eligibility:

• Meeting CalHFA income limits specific to this program.
• Mandatory primary residence occupancy; non-occupant co-borrowers are not allowed.
• Eligible properties include single-family, one-unit residences, approved condominiums/PUDs.
• Certain property types like guest houses and manufactured housing are considered upon verification.
• Condominiums must meet the guidelines of the first mortgage.

Benefits:

• Assists with closing costs.
• Offers an FHA-insured mortgage with a longer fixed interest rate period.

Requirements:

• Completion of homebuyer education counseling, obtaining a certificate through an eligible homebuyer counseling organization.
• Interest rates vary based on individual financial circumstances, lender fees, and other factors.

How to Apply:

• To apply for this program, contact a CalHFA-approved loan officer. Have documents like pay stubs, bank statements, employment history, and previous tax returns ready when reaching out to a loan officer.

CalHFA USDA Program

The CalHFA USDA Program provides a USDA Guaranteed first mortgage loan that can be paired with the MyHome Assistance Program for down payment and closing cost support. Designed for first- time homebuyers, this program includes specific income limits and property location requirements.

Highlights:

• USDA Guaranteed first mortgage loan.
• Eligible for combining with the MyHome Assistance Program.

Eligibility:

• Primary residence occupancy.
• Completion of homebuyer education counseling.
• Meet USDA Income Limit Eligibility.

Benefits:

• USDA-backed loan assistance for eligible applicants.
• Support for down payment and closing costs for first-time homebuyers.

Requirements:

• Completion of homebuyer education counseling.
• Compliance with CalHFA income and property guidelines.
• Single-family, one-unit residence or approved condominiums/PUDs.
• Different property types may qualify, subject to program conditions.

How to Apply:

• Prospective applicants can contact a CalHFA-approved loan officer to commence the application process.

CalHFA VA Program

• The CalHFA VA Program is a VA-insured loan featuring a CalHFA fixed interest rate first mortgage. It offers a 30-year fixed interest rate for first-time homebuyers.

Highlights:

• VA-insured loan with a fixed interest rate.
• Tailored for eligible veterans and service members

Eligibility:

• Primary residence occupancy for the borrower.
• Completion of homebuyer education counseling.
• Meeting CalHFA income limits.
• Presenting a valid certificate of eligibility per VA guidelines.

Benefits:

• VA-insured mortgage catering to veterans and service members.
• Fixed interest rate aiding in long-term financial planning.

Requirements:

• Completion of homebuyer education counseling.
• Compliance with CalHFA income and property guidelines.
• Single-family, one-unit residence or approved condominiums/PUDs.
• Specific property types may qualify based on program stipulations.

How to Apply:

• Prospective applicants can initiate the application process by contacting a CalHFA- approved loan officer.

CalHFA Conventional Program

The CalHFA Conventional Program offers a first mortgage loan insured through private mortgage insurance on the conventional market. It presents a fixed interest rate throughout the 30-year term.

Highlights:

• First mortgage loan insured through private mortgage insurance.
• Fixed interest rate maintained for the entire 30-year term.

Eligibility:

• Primary residence occupancy by the borrower.
• Completion of homebuyer education counseling.
• Compliance with CalHFA income limits for this specific program.

Benefits:

• Conventional loan backed by private mortgage insurance.
• Stable fixed interest rate over the entire 30-year period.

Requirements:

• Mandatory completion of homebuyer education counseling.
• Meeting CalHFA’s income and property eligibility criteria.
• Single-family, one-unit residence or approved condominiums/PUDs.
• Eligibility for certain property types like guest houses upon verification.

How to Apply:

• Interested applicants can initiate the application process by contacting a CalHFA- approved loan officer.

CalPLUS Conventional Program

The CalPLUS Conventional program offers a conventional first mortgage over 30 years, featuring a slightly higher fixed interest rate compared to the standard conventional program. It is complemented by the CalHFA Zero Interest Program (ZIP) designed to assist with closing costs.

Highlights:

• Conventional first mortgage.
• 30-year higher fixed interest rate.
• Paired with CalHFA Zero Interest Program (ZIP) for closing cost assistance.

Eligibility:

• Mandatory primary residence occupancy.
• Completion of homebuyer education and counseling, obtaining a certificate through an eligible organization.
• Meeting CalHFA income limits specific to the program.

Benefits:

• Assists with closing costs.
• Offers a longer fixed interest rate period.

Requirements:

• Mandatory homebuyer education for first-time homebuyers using a CalHFA program.
• Individual financial circumstances and lender fees affect interest rates.
• Eligible properties include single-family, one-unit residences, approved condominiums/PUDs.
• Certain property types like guest houses and manufactured housing are considered upon verification.
• Leaseholds/Land Trusts and Co-ops are not permitted.

How to Apply:

• To apply for this program, contact a CalHFA-approved loan officer. Prepare documents such as pay stubs, bank statements, employment history, and previous tax returns when reaching out to a loan officer.

MyHome Assistance Program

MyHome offers a deferred-payment junior loan for both CalHFA Government Loans (FHA) and CalHFA Conventional Loans. It provides an amount up to the lesser of 3.5% of the purchase price or appraised value for FHA loans and up to 3% for conventional loans, aiding with down payment and/or closing costs.

Highlights:

• Conventional first mortgage.
• 30-year higher fixed interest rate.
• Paired with CalHFA Zero Interest Program (ZIP) for closing cost assistance.

Eligibility:

• Must qualify as a first-time homebuyer.
• Primary residence occupancy is mandatory.
• Completion of homebuyer education counseling and obtaining a certificate through an eligible organization.
• Meet CalHFA income limits for this program

Benefits:

• Deferred-payment junior loan that provides up to 3.5% of the purchase price or appraised value (whichever is lower) to help pay for down payment or closing costs.
• In many cases, you can combine this assistance with CalHFA’s loan programs

Requirements:

• Eligible property types include single-family, one-unit residences, approved condominium/PUDs, guest houses, granny units, and in-law quarters.
• Manufactured housing is permitted.
• Condominiums must meet the guidelines of the first mortgage.
• First-time borrowers on each loan transaction are required to undergo homebuyer education and counseling.

How To Apply:

• As CalHFA is not a direct lender, access to mortgage products is through approved private loan officers. Visit the Find a Loan Officer tab on CalHFA’s website to contact a suitable officer in your area. Prepare documents such as pay stubs, bank statements, employment history, and previous tax returns when initiating contact.

California Dream For All Shared Appreciation Loan

The Dream For All Shared Appreciation Loan functions as a down payment assistance program tailored for first-time homebuyers. It is designed to complement the Dream For All Conventional first mortgage by assisting with down payment and/or closing costs.

Program Updates: As of October 26, 2023, the CalHFA Board of Directors approved the second round of the Dream For All Shared Appreciation Loan Program during their October board meeting. Anticipated release for the program is in early Spring of 2024, with detailed program information and announcements expected in January.

Shared Appreciation: This loan structure involves more complexity compared to a typical mortgage loan. Upon the sale or transfer of the home, the homebuyer repays the initial down payment loan along with a share of the appreciation in the home’s value.

Colorado

Colorado Housing and Finance Authority (CHFA) First- Time Homebuyer Programs

CHFA offers a variety of home purchase loan programs along with grants and second mortgage loans to aid with down payment and/or closing cost assistance. These programs are accessible through a network of Participating Lenders across the state.

Highlights:

• Multiple home purchase loan programs available
• Assistance grants and second mortgage loans provided for down payment/closing costs
• Accessibility through a network of Participating Lenders

Eligibility:

• Minimum mid-credit score of 620 required for all borrowers
• Total borrower income must not exceed CHFA’s income limits
• Completion of CHFA-approved homebuyer education class mandatory before loan closing
• Minimum borrower financial contribution of $1,000 toward home purchase

Benefits:

• Accessible down payment and/or closing cost assistance
• Multiple loan options catering to different needs
• Statewide network of Participating Lenders for program access

Requirements:

• Fulfillment of CHFA’s income and credit score criteria
• Completion of CHFA-approved homebuyer education class
• Contribution of a minimum of $1,000 toward home purchase
• Adherence to underwriting guidelines specified by Participating Lender

How to Apply:

• Take a Homebuyer Education Class
• Contact a CHFA Participating Lender

Programs Include:

• CHFA FirstStep and FirstStep Plus programs
  • 30-year fixed-rate FHA loan to first-time homebuyers, veterans or any buyer purchasing in a targeted area
  • Meet CHFA general loan requirements
  • Subject to program’s purchase price and income limits

• CHFA HomeAccess and HomeAccess Plus
  • 30-year fixed-rate FHA or USDA loan to a first-time homebuyer or veteran who is either living with a permanent disability or is the custodial parent of an individual living with a permanent disability
  • Income and purchase price limits apply
  • If eligible, obtain up to $25,000 in down payment assistance
• CHFA SectionEight and SectionEight Plus
  • 30-year fixed-rate FHA or USDA loan to a first-time homebuyer or veteran who’s also receiving Section 8 assistance from a Section 8 agency
  • SectionEight Plus program can be combined with CHFA down payment assistance (Note: SectionEight program doesn’t include this benefit).
• CHFA SmartStep and SmartStep Plus
  • 30-year fixed-rate FHA or USDA loans and CHFA down payment assistance.
• Fannie Mae HFA Preferred and Freddie Mac HFA Advantage loans
  • Receive up to 97% financing, including an Advantage loan for low-income borrowers (called the Very-Low Income Program, or VLIP)
  • Can be combined with CHFA down payment assistance

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CHFA Down Payment and/or Closing Cost Assistance Options

Highlights:

• Down Payment Assistance Grant
• Up to the lesser of $25,000 or 3 percent of your first mortgage**
• No repayment required
• Second Mortgage Loan*
• Up to the lesser of $25,000 or 4 percent of your first mortgage
• Repayment of loan balance deferred until certain events, such as payoff of your first mortgage, or the sale or refinance of the home, or the home is no longer your primary residence.

* Higher interest rates apply

**For a 30-year, fixed-rate loan

Eligibility:

• Homebuyers using CHFA’s first mortgage loan programs to finance their home purchase are eligible for these assistance options. Even with a down payment contribution, these options remain available.

Benefits:

• Flexibility in covering down payment and/or closing costs.
• No repayment obligation for the Down Payment Assistance Grant.
• Deferred repayment terms for the Second Mortgage Loan.

Requirements:

• Utilization of one of CHFA’s first mortgage loan programs.
• Adherence to specific loan and mortgage conditions.
• Meeting CHFA’s eligibility criteria for homebuyers.

How to Apply:

• To explore CHFA loan programs and learn about the specific requirements and next steps, click [here]

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Connecticut

HFA Advantage^® and HFA Preferred^™ Loan Programs

Providing reduced insurance costs and below-market interest rates, these programs are tailored for first- time homebuyers in Connecticut, with potential eligibility for Targeted Areas.

Highlights:

• The HFA Advantage and HFA Preferred mortgage Programs offer reduced insurance costs and below-market interest rates, primarily catering to first-time homebuyers. Targeted Area eligibility is available for non-first-time buyers.

Eligibility:

• Must be a first-time homebuyer or not have owned a home in the past three years.
• Primary residence requirement; investment or vacation properties are ineligible.
• Home’s sales price must align with CHFA Sales Price Limits.
• Applicant’s gross income should not exceed CHFA’s established Income Limits based on household size.

Benefits:

• No upfront mortgage insurance costs.
• Lower monthly mortgage insurance costs.
• Availability of CHFA Down Payment Assistance Program Loans.
• Eligible property types include single-family homes, townhouses, Fannie Mae or Freddie Mac eligible condominiums, Planned Unit Developments (PUDs), and two- to-four unit homes.

Requirements:

• Attendance of a mandatory free Homebuyer Education class before closing.
• Potential requirement for mortgage insurance, varying based on individual circumstances.
• Possibility of Federal Recapture Tax if the home is sold within the first nine years, with profits and income exceeding specific thresholds.

How to Apply:

• Contact one of CHFA’s nearly 70 participating lenders across Connecticut to initiate your application process.

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Government Insured Mortgage Programs

These programs, in partnership with the Federal Housing Administration (FHA), Veterans Administration (VA), or USDA Rural Development, offer low-interest rate loans and services to aid low- and moderate-income individuals and families in purchasing homes.

Highlights

• Below-market interest rates that are insured by the government.
• Down payment and closing cost assistance available

Eligibility

• First-time homebuyer status or not owning a home in the past three years, except for homes in targeted areas
• Primary residence requirement (investment or vacation properties not allowed)
• Home’s sales price within CHFA Sales Price Limits, and gross income within CHFA Income Limits
• Eligible property types include single-family homes, townhouses, condominiums (FHA, VA, or USDA-RD approved), two-to-four unit homes, and newly constructed two-family homes meeting FHA energy efficiency standards.

Benefits

• Below-market interest rates
• Down payment and closing cost assistance available
• Potential Target Area rate discount

Requirements

• Mandatory attendance of a free Homebuyer Education course before closing
• Eligible property types include single-family homes, townhouses, condominiums (FHA, VA, or USDA-RD approved), two-to-four unit homes, and newly constructed two-family homes meeting FHA energy efficiency standards.
• Mortgage insurance reviewed and arranged through FHA, VA, or USDA-RD
• Potential Federal Recapture Tax under specific conditions upon selling the home within nine years

How to Apply:

• Interested individuals can explore the network of nearly 70 CHFA-Participating Lenders, many with multiple branches across Connecticut, to apply for a CHFA mortgage. These lenders will guide applicants through the process.

Down Payment Assistance Program (DAP) Loan

The DAP loan addresses the challenge of upfront homeownership costs, offering a low-interest loan to cover down payments and closing expenses, particularly aimed at first-time homebuyers with adequate monthly income for mortgage payments but insufficient savings for upfront costs. A DAP loan is a second mortgage on your home.

Highlights

• Assistance financing down payment and closing costs, providing up to $20,000
• Low-interest rate second mortgage

Eligibility

• Initial application and qualification for a CHFA mortgage through a CHFA- Participating Lender
• Demonstrating the ability to repay both the CHFA first mortgage and the DAP loan is necessary for program qualification

Benefits

• Assistance financing down payment and closing costs, providing up to $20,000
• Low-interest rate second mortgage at 1.00% (1.10% -1.50% APR) for loan reservations from April 30, 2021, through December 31, 2023

Requirements

• The DAP loan should be at least $3,000 but no more than the minimum required down payment for the home, typically between 3% and 3.50%
• Mandatory attendance of a free Homebuyer Education class before closing to grasp the home-buying process and homeownership tips
• Applying through a CHFA-Participating Lender for access to the program

How to Apply:

• Apply through a CHFA-Participating Lender. For further inquiries, individuals can reach out to the CHFA Homeownership Department at (860) 571-3541 or email [email protected].

Time To Own – Forgivable Down Payment Assistance

This program, administered by CHFA on behalf of the CT Department of Housing, offers a forgivable down payment assistance loan to aid potential homebuyers in covering the down payment and closing costs for their first homes.

Highlights

• Recent additional funding of $25,000,000, bringing the total program funding to

$105,000,000 as of October 6, 2023

• Available loan reservation amount of $11,861,644 as of November 20, 2023

Benefits

• 0% interest rate without monthly payment requirements
• Forgiveness of 10% of the principal balance annually on the loan’s anniversary date until complete forgiveness on the tenth anniversary
• Financing covering up to 20% down payment and up to 5% closing costs
• Loan amounts up to $50,000 for homes in High or Very High Opportunity Areas and up to $25,000 for other areas

Eligibility

• Available to eligible applicants qualifying for and receiving a CHFA first mortgage
• Residents of Connecticut demonstrating residency for the most recent three (3) years are eligible
• Non-first-time homebuyers can apply if purchasing in a targeted area of the state and must not own any other property at the time of the CHFA mortgage closing

Requirements

• The Time To Own loan requires a minimum amount of $3,000
• Applicants must satisfy all CHFA first mortgage and Time To Own loan program eligibility and underwriting criteria, determined by a CHFA-Participating Lender

How to Apply:

• Applicants can apply through a CHFA-Participating Lender or contact the CHFA Homeownership Department at (860) 571-3541 or email [email protected] for additional inquiries.

*** CHFA offers an additional 0.125% discount on published interest rates if you are:

• A member of the U.S. Military Services or Veterans
• A State Trooper or Police Officer (in participating towns)
• A Teacher who is certified in the State of Connecticut and qualifies under program eligibility
• A disabled person or have a disabled household member who will live with you
• A resident of public housing buying a home

Fairfield First Time Homebuyer Assistance Program

The Fairfield First Time Homebuyer Assistance Program, funded by a Department of Housing & Urban Development (HUD) grant, aims to support income-eligible, first-time homebuyers who lack sufficient funds. This program provides assistance for the purchase of owner-occupied single-family homes, two-family homes, or condominium units within Fairfield. It is not available for investment property purchases.

Highlights:

• Provides assistance for down payment and closing costs.
• Applicants must attend and complete a HUD-certified first-time homebuyer counseling program.
• Assistance is available for owner-occupied residential properties only.

Eligibility:

• Must be a first-time homebuyer, defined as someone who has not owned a residential property in the past three years.
• Applicants must meet HUD-defined income guidelines.
• All applicants must attend and complete a HUD-certified first-time homebuyer counseling program.

Benefits:

• Access to two forms of financial assistance: Down Payment and Closing Costs.
  • Down payment assistance covers fifty percent (50%) of the required down payment, up to a maximum of $30,000, through a no-interest loan.
  • Closing costs assistance covers reasonable closing costs, up to a maximum of

$2,500, provided as a grant.

• Support for first-time homebuyers to achieve homeownership goals.

Requirements:

• Meet HUD-defined income guidelines based on household size.
• Attend and complete a HUD-certified first-time homebuyer counseling program.
• Property must be owner-occupied (single-family homes, two-family homes, or condominium units) and located within Fairfield. (Note: It is not available for investment property purchases.)

How to Apply:

1. Contact the Office of Community & Economic Development at 203-256-3120 or email [email protected] to request an application or for further information.
2. Attend and complete a HUD-certified first-time homebuyer counseling program.
3. Submit all required documentation along with the application.
4. Await notification regarding eligibility and approval for assistance.

City of Bridgeport Down Payment Assistance Program

Building Neighborhoods Together (BNT) collaborates with The City of Bridgeport, CT, to facilitate homeownership through the Home Bridgeport first-time homebuyer down payment & closing cost assistance Program. Eligible applicants can access forgivable loans of up to $25,000 to assist with down payment and closing costs.

Highlights:

• Forgivable loans of up to $25,000 for down payment and closing costs.
• Purchase properties can include 1-2 units and FHA Approved Condos.
• Assistance is secured by a 2nd mortgage lien position.
• Funds are disbursed on a first-come, first-served basis to eligible borrowers under contract.
• No cash back to the borrower at closing.

Eligibility:

• Applicant must not have owned property in the past 3 years.
• Buyer must have a written pre-approval from a mortgage lender.
• Buyer must be pre-approved for a fixed-rate mortgage.
• Minimum credit score of 620; No BANKRUPTCY or FORECLOSURE in the past 3 years.
• Total household income must fall within 80% of HUD Area Median Income
• Underwriting ratios: 35% / 45%.
• Property must be located in the City of Bridgeport.
• Property deed restricted for 5-10 years, depending on the approved amount.
• Property value cannot exceed 95% of Bridgeport’s median purchase price for single- family housing.

Benefits:

• Access to forgivable loans for down payment and closing costs, aiding in homeownership affordability.
• Assistance available for qualified buyers purchasing 1-2 units and FHA Approved Condos.
• Flexibility in asset requirements (capped at $10,000), with excess funds applied to the purchase.

Requirements:

• Agree to owner occupancy and deed restrictions.
• Obtain a written pre-approval from a mortgage lender.
• Pre-approval for a fixed-rate mortgage.
• Meet underwriting ratios and credit score requirements.
• Attend a minimum of 8-hour homebuyer education/counseling with a HUD- approved agency.
• Property must be located within the City of Bridgeport.
• Minimum buyer contribution of 1% of the purchase price.
• Meet income and property value eligibility criteria.
• Complete the application form to connect with a BNT Housing Counselor.

How to Apply:

1. Fill out the Registration form to be contacted by a BNT Housing Counselor regarding the 1st Time Homebuyer Down Payment Assistance Program.
2. Obtain a written pre-approval from a mortgage lender.
3. Complete the required homebuyer education/counseling.
4. Submit all necessary documentation and applications.
5. Await notification regarding eligibility and approval for assistance.

City of New Haven Down Payment/Closing Costs Assistance

Financial support for eligible low-income first-time homebuyers in the form of down payment and closing costs assistance.

Highlights:

• Financial assistance for down payment and closing costs for first-time homebuyers.
• Flexibility to use the deferred loan for down payment, closing costs, or both.

Eligibility:

• Applicants must be first-time homebuyers.
• Assistance available for low-income families.
• Property must be a single-family (1-4) housing unit.
• Terms and conditions of loans subject to change.

Benefits:

• Support for first-time homebuyers in overcoming financial barriers to homeownership.
• Assistance up to six percent (6%) of the purchase price or $20,000, whichever is greater.
• Zero percent (0%) interest forgivable loan.
• Loan forgiven at a rate of 20% per year over a five-year period.
• Access to funds for down payment and closing costs, enhancing affordability.
• Flexibility in loan usage for down payment, closing costs, or both.

Requirements:

• Applicant must be a first-time homebuyer.
• Property purchased must be a single-family (1-4) housing unit.
• Income eligibility criteria apply.
• Compliance with loan terms and conditions, subject to change without prior notice.

How to Apply:

• For program information and application inquiries, please email [email protected]

SmartMove Connecticut

Low-interest down payment assistance is available for first-time homebuyers in Connecticut, providing support for up to 25% of the purchase price when used for a down payment and qualified closing costs.

Highlights:

• Low-interest down payment assistance for first-time homebuyers in Connecticut.
• Second mortgage assistance for up to 25% of the purchase price when used for a down payment and qualified closing costs.
• Borrowers can purchase homes with as little as 1% down.
• Avoidance of mortgage insurance and lower monthly payments.

Eligibility:

• Available to income-eligible first-time homebuyers.
• Applicants must complete homeownership counseling and education.
• First mortgage must be provided by a participating lender.
• Must be U.S. citizens, permanent residents, or carriers of unexpired visas or work permits.
• Must have a steady work history for the previous two years in the same industry

Benefits:

• Access to low-interest down payment assistance.
• Support for up to 25% of the purchase price, aiding in affordability.
• Opportunity to purchase homes with as little as 1% down.
• Avoidance of mortgage insurance and lower monthly payments.

Requirements:

• Applicants must be first-time homebuyers.
• Completion of homeownership counseling and education.
• First mortgage must be provided by a participating lender.
• Origination fee ranges from $750 to $2,500, depending on the size of the loan.

How to Apply:

• Interested applicants should inquire with participating lenders to apply for the SmartMove Connecticut program. Completing homeownership counseling and education is necessary to be eligible for assistance.

Live Where You Work Connecticut

Up to $25,000 in 0% down payment assistance is available for first-time homebuyers purchasing homes in the city where they work.

Highlights:

• Provides up to $25,000 in 0% down payment assistance.
• Aimed at helping Connecticut homebuyers purchase their first home in the same town where they work.
• LWYW offers a 30-year, 0% loan for down payment or closing costs.
• Can be layered with other down payment assistance programs.

Eligibility:

• Open to income-eligible first-time homebuyers.
• Must complete homeownership counseling and education through HDF.
• Home purchase must be in the same town where the buyer is employed.

Benefits:

• Access to up to $25,000 in 0% down payment assistance.
• Opportunity to purchase a home in the same town where the buyer works, reducing commuting time and increasing family time.
• Assistance with down payment or closing costs.
• Long-term loan repayment over 30 years.

Requirements:

• Must be a first-time homebuyer.
• Completion of homeownership counseling and education through HDF.
• Purchase of a home in the same town where the buyer is employed.
• Payment of a $750 loan fee.

How to Apply:

• Interested individuals should complete homeownership counseling and education through HDF. Upon completion, applicants can apply for the Live Where You Work Connecticut program. Contact HDF at 203.969.1830 or email [email protected] for further application details and assistance.