Habitat for Humanity of North Central Connecticut Homeownership Program

What is Habitat for Humanity of North Central Connecticut Homeownership Program?

Habitat for Humanity of North Central Connecticut Homeownership Program is down payment assistance for homebuyers in Hartford, Connecticut, administered by Habitat for Humanity of North Central Connecticut (formerly Hartford Area Habitat for Humanity).

• Habitat for Humanity of North Central Connecticut partners with low-income families to build or rehabilitate a home that is sold to the family with an affordable, zero-interest mortgage. The below-market financing and the difference between appraised value and the affordable sale price function as the subsidy. Applicants attend a property-specific Applicant Information Meeting (AIM), submit an application for a specific upcoming property, demonstrate ability to pay, complete sweat equity, and show housing need.
• 0% interest mortgage.
• Below-market home price.
• Financial literacy education.
• Sweat-equity pathway to ownership.
• Funding comes from Habitat affiliate (private donations, grants, ReStore proceeds).

Do you have to pay it back?

Habitat for Humanity of North Central Connecticut Homeownership Program is down payment assistance and is repaid under the terms set by Habitat for Humanity of North Central Connecticut (formerly Hartford Area Habitat for Humanity).

• 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 North Central 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 North Central Connecticut Homeownership Program limits household income to 60% of the area median income, which varies by county and household size.

• Household income within HUD guidelines; Habitat standard up to ~60% of area median income per published Income Guidelines.
• 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 North Central Connecticut Homeownership Program can be used for Single Family.

• New construction is eligible.

Where does it apply?

Habitat for Humanity of North Central Connecticut Homeownership Program serves buyers purchasing in Hartford, Connecticut.

• The program targets specific areas: Specific affiliate-selected properties in Hartford and Bristol (Hartford County).

How do you apply?

Applications for Habitat for Humanity of North Central Connecticut Homeownership Program go through Habitat for Humanity of North Central Connecticut (formerly Hartford Area Habitat for Humanity), 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 North Central Connecticut (formerly Hartford Area Habitat for Humanity) to reserve funds

   Funds are reserved through Applications reviewed in order received; limited number considered per property., 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.