Habitat for Humanity of Coastal Fairfield County Homeownership Program

Habitat for Humanity of Coastal Fairfield County Homeownership Program is down payment assistance for homebuyers in Stratford, Connecticut, administered by Habitat for Humanity of Coastal Fairfield County (Habitat CFC). Habitat for Humanity of Coastal Fairfield County partners with low- and moderate-income first-time homebuyer families to build affordable homes sold at no profit with affordable loans. The below-market financing plus the no-profit sale price constitute the subsidy. Applicants attend an informational session, submit an application by the deadline, and meet three criteria: need, ability to pay, and willingness to partner. Affordable home sold at no profit. Affordable below-market loan. Homebuyer education classes. Sweat-equity partnership. Funding comes from Habitat affiliate (private donations, grants, ReStore proceeds).

Habitat for Humanity of Coastal Fairfield County Homeownership Program is down payment assistance and is repaid under the terms set by Habitat for Humanity of Coastal Fairfield County (Habitat CFC). The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Habitat for Humanity of Coastal Fairfield County Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Minimum credit score 620; no judgments/foreclosures/recent bankruptcies (free of bankruptcy/foreclosure for at least 3 years). A homebuyer education course is required. Residency requirement: Must live or work in Coastal Fairfield County for 1 year and in Connecticut for at least 3 years. Citizenship or immigration status: U.S. citizen or legal resident.

Habitat for Humanity of Coastal Fairfield County Homeownership Program sets its income limit as follows: Total household income within HUD income guidelines by family size; requires two years of steady income. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Habitat for Humanity of Coastal Fairfield County Homeownership Program can be used for Single Family. New construction is eligible.

Habitat for Humanity of Coastal Fairfield County Homeownership Program serves homebuyers purchasing in Stratford, Connecticut.

Applications for Habitat for Humanity of Coastal Fairfield County Homeownership Program go through Habitat for Humanity of Coastal Fairfield County (Habitat CFC), which publishes the current terms and the application steps on its own site. Funds are reserved through Applications accepted by deadline following informational session. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.