Housatonic Habitat for Humanity Homeownership Program

What is Housatonic Habitat for Humanity Homeownership Program?

Housatonic Habitat for Humanity Homeownership Program is a silent second mortgage for homebuyers in Danbury, Connecticut, administered by Housatonic Habitat for Humanity.

• Housatonic Habitat for Humanity offers a path to homeownership in the greater Danbury / Western Connecticut area by building and selling homes below market value with a subsidized, affordable first mortgage. The down payment is paid by Housatonic Habitat through a second, silent mortgage, so qualified partner families contribute $0 cash down. Families must contribute sweat equity (250 total hours, including 50 hours of financial education) and meet income, credit, and residency requirements.
• $0 cash down payment via Habitat second silent mortgage.
• Subsidized affordable first mortgage with lower monthly payments.
• Home sold below market value.
• Financial literacy and homebuyer education provided.
• Ongoing homebuyer support from Habitat, financial advisors, and partner banks.
• Funding comes from Housatonic Habitat for Humanity (donations, volunteer labor, donated/discounted building materials, year-round fundraising).

Do you have to pay it back?

Housatonic Habitat for Humanity Homeownership Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Silent second mortgage held by Housatonic Habitat covers the down payment; recapture/affordability terms not published on the official site.
• The assistance is recorded in Second position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Housatonic Habitat for Humanity 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?

Housatonic Habitat for Humanity Homeownership Program sets its income limit as follows: Minimum household income of at least $60,000 required; upper income limits applied per Habitat affordability/need criteria (not published as a table on the official site).

• 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?

Housatonic Habitat for Humanity Homeownership Program caps the purchase price as follows: Homes sold below market value at a price affordable to the partner family.

• Eligible property types include Single-family (Habitat-built/rehabbed homes).
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Housatonic Habitat for Humanity Homeownership Program serves buyers purchasing in Danbury, Connecticut.

• The program targets specific areas: Greater Danbury / Western Connecticut service area (Bethel, Brookfield, Danbury, New Canaan, New Milford, Newtown, Redding, Ridgefield, Weston, Wilton).

How do you apply?

Applications for Housatonic Habitat for Humanity Homeownership Program go through Housatonic 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, through Housatonic Habitat for Humanity financial literacy workshops (50 hours of financial education required).

2. 2

   Contact Housatonic Habitat for Humanity to reserve funds

   Funds are reserved through Eligibility self-assessment / pre-screening application, then Applicant Information process, 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.