
The
SmartMove Homeownership fund enables homebuyers to purchase
homes in southwestern Connecticut. For qualified borrowers,
SmartMove provides low-interest (3%) 20-year second mortgages
of up to 20% of the purchase price. SmartMove borrowers do
not have to pay for mortgage insurance and also benefit from
lower mortgage payments. Borrowers can put down as little
as 1% of the purchase price towards the purchase of their
home. There is a $2,000-$2,500 service fee for SmartMove borrowers.
This fee is not included in the loan amount and will be added
to closing costs.
Eligibility Requirements
-
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.
-
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 agree to attend a post-purchase
counseling session or seminar once a year.
-
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.
Participating
Banks
In order to be approved for a SmartMove loan, you will have
to get your first mortgage from one of our participating banks.
You may choose any of the following banks. Please call the
contact person listed below since they are familiar with the
SmartMove program.
-
CitiBank
Babette Arroyo 203.975.6314
-
People's Bank
Tina Rafael 203.338.7295
-
First County Bank
Gottrell McLellan 203.462.4344
-
Newtown Savings Bank
Laura Manz 800.461.0672
-
Savings Bank of Danbury
Michelle Grull 203.797.2639 (Danbury Contact)
John Mosca 203.217.2468 (Waterbury Contact)
- Hudson
City Savings Bank
Ralph Weeks 201.967.1900
|