Eligibility: Targets first-time homebuyers (no homeownership in the past three years) or buyers in targeted areas of Connecticut.
Benefits: Offers a low-interest second mortgage of $3,000 to $20,000 for down payment and closing costs; repayable over 30 years alongside the CHFA first mortgage.
Description: Provides up to $50,000 as a 0% interest, forgivable second loan (10% forgiven annually over 10 years) for down payment and closing costs; aimed at low- and moderate-income buyers.
HouseHartford Homebuyer Assistance Program: Offers up to $40,000 as a 0% interest, deferred loan (due on sale or refinance) for first-time buyers in Hartford; income must not exceed 80% AMI.
Homeownership Assistance Program: Provides up to $25,000 as a forgivable loan (forgiven after 5 years) for down payment and closing costs; targets first-time buyers with incomes at or below 80% AMI in New Haven.
First-Time Homebuyer Down Payment Assistance: Offers up to $20,000 as a 0% interest, deferred loan for first-time buyers; income must be at or below 80% AMI, and properties must be within Bridgeport city limits.
Connecticut Housing Finance Authority (CHFA) Programs:
CHFA First-Time Homebuyer Program:
Offerings: Provides a 30-year fixed-rate mortgage (FHA, VA, USDA, or conventional) at below-market interest rates; can be paired with down payment assistance.
Requirements:
Down Payment Assistance Program (DAP):
Eligibility: Must use a CHFA first mortgage; income and purchase price limits apply (e.g., $536,800 for a single-family home in non-targeted areas).
Time To Own Loan Program:
Requirements: Must pair with a CHFA mortgage; income must not exceed 115% of area median income (AMI).
Local Programs:
Hartford
New Haven
Bridgeport
Additional Information: