Habitat for Humanity of Eastern Connecticut Homeownership Program

What is Habitat for Humanity of Eastern Connecticut Homeownership Program?

Habitat for Humanity of Eastern Connecticut Homeownership Program is a first mortgage for homebuyers in Norwich, Connecticut, administered by Habitat for Humanity of Eastern Connecticut.

• Habitat for Humanity of Eastern Connecticut sells homes it builds or rehabs to income-qualified families in New London and Windham counties (and select Tolland County towns) using a no-profit, affordable mortgage. The process begins with an Applicant Information Meeting (AIM) held about twice a year, followed by pre-qualification and a full application with a home visit. Buyers invest sweat equity (build hours, homeownership classes, or ReStore work). Homebuyers earn between 50% and 80% of area median income.
• Affordable purchase-money first mortgage.
• Below-market home price.
• Homeowner Readiness Workshops.
• Sweat-equity pathway.
• Funding comes from Habitat affiliate (donations, recycled mortgage payments, ReStore proceeds, volunteer labor).

Do you have to pay it back?

Habitat for Humanity of Eastern Connecticut Homeownership Program is a first mortgage and is repaid under the terms set by Habitat for Humanity of Eastern Connecticut.

• 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 Eastern Connecticut 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 Eastern Connecticut Homeownership Program limits household income to 80% of the area median income, which varies by county and household size.

• Income within HUD guidelines; Habitat homeowners earn between 50% and 80% of area median income. Specific figures provided at the AIM.
• 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 Eastern Connecticut Homeownership Program can be used for Single Family.

• New construction is eligible.

Where does it apply?

Habitat for Humanity of Eastern Connecticut Homeownership Program serves buyers purchasing in Norwich, Connecticut.

How do you apply?

Applications for Habitat for Humanity of Eastern Connecticut Homeownership Program go through Habitat for Humanity of Eastern Connecticut, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Habitat for Humanity of Eastern CT (Homeowner Readiness Workshops, with Chelsea Groton Bank).

2. 2

   Contact Habitat for Humanity of Eastern Connecticut to reserve funds

   Funds are reserved through Cyclical: Applicant Information Meetings (AIM) twice yearly for homes completing in next 12-24 months; AIM required before applying., 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.