Habitat for Humanity of Coastal Fairfield County Homeownership Program

What is 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).

Do you have to pay it back?

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.

Who qualifies?

Habitat for Humanity of Coastal Fairfield County Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

Habitat for Humanity of Coastal Fairfield County Homeownership Program can be used for Single Family.

• New construction is eligible.

Where does it apply?

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

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact Habitat for Humanity of Coastal Fairfield County (Habitat CFC) to reserve funds

   Funds are reserved through Applications accepted by deadline following informational session., and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.