From time-to-time, HDF receives funds from governmental agencies and other sources to administer as part of its First Time Homebuyers Program. These funding sources are available on a limited basis, and income and eligibility requirements apply. All buyers will need to complete the HDF homeownership counseling program requirements, which include orientation, one-on-one homeownership counseling and conform to HDF’s underwriting criteria. 8-hour CHFA Homebuyer Education classes offered by HDF may be required for some loan programs. To schedule an orientation, click here.

Currently, HDF has additional funding under the following programs:

Stamford HOME Assistance Program

HDF administers the City of Stamford's HOME Funds for down payment assistance. An interest-free maximum loan of $20,000 is payable at the end of 30 years, or upon payoff of first mortgage, sale of property, or transfer of title. There is a $2,000 fee for this loan, payable to HDF at closing.

To be eligible for HOME funds, the total household income must not exceed 65% of the Area Median Income as adjusted for family size.

This program is contingent upon an agreement with the City of Stamford. To be considered for the Stamford HOME program, you must attend an HDF orientation session (to schedule an orientation, click here)

ADDI

In 2006, HDF was selected by Governor M. Jodi Rell as one of four housing organizations in Connecticut to administer HUD's American Dream Downpayment Initiative (ADDI). These funds are available to help first-time homebuyers with downpayment costs. The loans are in amounts equal to 6 percent of the purchase price or $10,000, whichever is greater. As long as the homebuyer remains in the purchased unit, the loan amount decreases annually on a pro-rata basis (based on the ADDI loan amount) when the lien will be released. If the unit is sold prior to the end of the loan period, the balance remaining will have to be repaid.

To be eligible, households may not earn more than 80% of the Area Median Income for the Stamford-Norwalk, Bridgeport, or Danbury Metropolitan Statistical Areas.

Funding is limited for the ADDI program. This is not an ongoing program. To be considered for the ADDI program, you must attend an HDF orientation session (to schedule an orientation, click here)

Workforce Housing Down Payment Fund

In fall 2006, HDF was awarded a $500,000 tax-credit allocation from the Connecticut Housing Finance Authority (CHFA). With these funds, HDF will make zero-interest loans up to $20,000 for income eligible clients purchasing properties in the community where they work. This program of assisting clients to live where they work allows them to free up income for housing and other monthly expenses as a result of lower monthly personal transportation costs.

Funding for the Workforce Housing Downpayment Fund is limited. This is not an ongoing program. To be considered for the Workforce Downpayment Housing Program, you must attend an HDF orientation session (to schedule an orientation, click here)

Stamford HOPE VI Program

As part of our Homeward Bound program, HDF is administering the Housing Authority of the City of Stamford’s HOPE VI Homeownership Assistance Program. This program will provide HOPE VI financial assistance to up to 57 eligible participants. Priority will be given to current residents of Fairfield Court and other Stamford public housing residents. The HOPE VI program will provide loans up to $45,000. Homes may be purchased anywhere in Fairfield County with this assistance.

To be eligible, a household’s annual gross income may not exceed 60 percent of the Stamford/Norwalk Area Median Income, adjusted for household size. All buyers will need to complete the HDF homeownership counseling program requirements, which include orientation, one-on-one homeownership counseling and an eight-hour homebuyer education class and conform to HDF’s underwriting criteria.

To be considered for the Stamford HOPE VI program, you must attend an HDF orientation session (to schedule an orientation, click here)

Norwalk Homeownership Assistance Program

The City of Norwalk, the North Walke Housing Corporation and Housing Development Fund are pleased to announce a new homeownership program for people who want to purchase a single family home or a condominium unit in Norwalk. The Homeownership Program will permit participants to access up to $50,000 in down payment and closing cost assistance. North Walke will provide this financial assistance in the form of a zero-percent (0%) deferred loan.

This Program is made possible as the result of a $1.1 million grant from DECD’s HOME Investment Partnership Program (HOME) to North Walke. The Homeownership Program is designed to provide Norwalk’s working families with a source of down payment and closing cost assistance to help those families overcome a key obstacle to achieving the dream, and economic benefits, of homeownership.

To be eligible, households may not earn more than 80% of the Area Median Income for the Stamford-Norwalk Area (because Norwalk is in a high income area, these numbers are capped).

To be considered for the Norwalk Homeownership Assistance Program, you must attend an HDF orientation session (to schedule an orientation, click here)