Homebuyer Assistance Loan Program

HDF's Homebuyer Assistance Loan product provides downpayment and closing cost assistance of up to $10,000 through an interest free loan secured by a subordinate mortgage on the property. Homebuyer Assistance Loans are due and payable at sale of property, transfer of title, or pay-off of the first mortgage. There are no monthly payments due for the life of the loan. There is a $750 service fee for Homebuyer Assistance Loan borrowers. This fee is paid to HDF at closing.

For a limited time, an additional $10,000 is available to borrowers who purchase homes in the community where they work.

To be eligible for assistance, the following criteria must be met:

• You must be looking to purchase a home in our Service Area.
  For a map and list of towns in our service area, click here.
• Income limits apply based on place of purchase. For a Service Area Map, List of Towns and Income Limits, click here.
• As a first step you must attend an HDF orientation session (to schedule an orientation, click here)
• You must attend at least 1 one-on-one counseling session with an HDF homeownership counselor.
• You must be a first-time homebuyer. A first-time homebuyer is defined as someone who has not owned property in the last 3 years.