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Norwalk Homeownership Assistance Program

North Walke Housing Corporation (non-profit affiliate of the Norwalk Redevelopment Agency) · Norwalk, Connecticut

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See what you qualify forOfficial program site →
Assistance

$50,000

The maximum the program publishes — not an offer

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 15 years

What is Norwalk Homeownership Assistance Program?

Norwalk Homeownership Assistance Program is a forgivable loan for homebuyers in Norwalk, Connecticut, administered by North Walke Housing Corporation (non-profit affiliate of the Norwalk Redevelopment Agency).

  • The Norwalk Homeownership Assistance Program, administered by the North Walke Housing Corporation (a non-profit affiliate of the Norwalk Redevelopment Agency) with CT DECD, provides first-time homebuyers up to $50,000 in down payment assistance. The assistance is a 0% interest deferred loan secured by a second or third mortgage assigned to DECD and forgiven pro-rata over a 5-, 10-, or 15-year affordability period depending on amount. Eligible buyers must earn at or below 80% of the Stamford-Norwalk AMI and purchase a home within the City of Norwalk.
  • Up to $50,000 in down payment assistance.
  • 0% interest deferred loan.
  • Forgiven pro-rata over the affordability period.
  • Layers with CHFA, FHA, USDA, FHLBank, and Fannie Mae first mortgages.
  • 100% LTV allowed.
  • Funding comes from Federal HOME Investment Partnerships Program funds via the CT Department of Economic and Community Development (DECD); North Walke awarded HOME grant funding in 2006.

How much assistance does it provide?

Norwalk Homeownership Assistance Program offers up to $50,000 in assistance.

  • Award tiers: Affordability/forgiveness term scales with amount: under $15,000 = 5 years; $15,000-$40,000 = 10 years; over $40,000 = 15 years.
  • Buyer contribution: Max LTV 100%; front-end housing ratio 20%-30% (higher permitted with an approved government program), back-end ratio capped at 40%.
  • The program can be combined with Designed to layer with approved government first-mortgage programs including CHFA, FHA, USDA, Federal Home Loan Bank, CT CDFI Alliance, and Fannie Mae.
  • Amounts are the program's published maximums, not an offer — North Walke Housing Corporation (non-profit affiliate of the Norwalk Redevelopment Agency) determines any individual award.

Do you have to pay it back?

Norwalk Homeownership Assistance Program is forgiven after 15 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Sale or transfer prior to the end of the affordability period triggers pro-rated recapture of the remaining unforgiven assistance by CT DECD, per 24 CFR 92.254(a)(4).
  • The assistance is recorded in Second or third mortgage (assigned to DECD) position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Norwalk Homeownership Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: No ownership interest in a principal residence during the 3-year period ending on the purchase date (applies to spouse). Exceptions for single parents/displaced homemakers who owned only with a spouse, and prior ownership of non-permanently-affixed or non-code-compliant property.
  • The home is occupied as a primary residence
  • Residency: Property must be purchased within the City of Norwalk, CT.
  • DRAFT (dpa-gap-finder 2026-06-12): pending review. Property within the City of Norwalk, CT. First-time homebuyer (3-year lookback) or qualifying exception. Income at or below 80% Stamford-Norwalk AMI. Front-end ratio 20%-30% (higher with approved government program), back-end max 40%, max 100% LTV; sales price capped at HUD 203(b) limit. First-come, first-served; 180-day property-search window. NOTE: field data sourced from the official program guidelines PDF revised 12-11-2008; program still listed as a current offering on the Norwalk Housing Authority (2026) and Norwalk Redevelopment Agency sites. Homebuyer-education requirement, manufactured/new-construction eligibility, minimum credit score, and current 4-person income-limit dollar amount not stated in primary sources; verify with the Redevelopment Agency.

The program excludes

  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

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

  • Households earning up to 80% of the Stamford-Norwalk Area Median Income (income guidelines in Attachment A). Subsidy is based on household income at the time the buyer signs the acquisition contract.
  • 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?

Norwalk Homeownership Assistance Program caps the purchase price as follows: Sales price must not exceed the Single Family Mortgage Limit under Section 203(b) of the National Housing Act (guidelines cite an FHA single-family limit of $362,790). Sales price is the lesser of appraised value or contract price.

Where does it apply?

Norwalk Homeownership Assistance Program serves buyers purchasing in Norwalk, Connecticut.

How do you apply?

Applications for Norwalk Homeownership Assistance Program go through North Walke Housing Corporation (non-profit affiliate of the Norwalk Redevelopment Agency), which publishes the current terms and the application steps on its own site.

  1. Contact North Walke Housing Corporation (non-profit affiliate of the Norwalk Redevelopment Agency) to reserve funds

    Funds are reserved through First-come, first-served. Applicants without an identified property have 180 days after eligibility determination to identify a property and closing date., and are subject to availability.

  2. 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.

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