West Haven First-Time Homebuyer Down Payment Assistance Program

West Haven First-Time Homebuyer Down Payment Assistance Program is a forgivable loan for homebuyers in West Haven, Connecticut, administered by City of West Haven Community Development Administration (CDA). The City of West Haven Community Development Administration offers first-time homebuyers up to $7,500 toward the down payment on a first single-family home or condo, funded through HUD's CDBG program. The assistance is a 5-year forgivable loan: if the buyer resides in the home for the full 5 years, no repayment is required. If the home is sold before 5 years, the loan is amortized at 20% forgiveness per year. Eligibility is limited to households at or below HUD's 80% Area Median Income. Up to $7,500 toward down payment. 5-year forgivable loan. No repayment if owner-occupied for 5 years. 20% loan forgiveness per year. Funding comes from HUD Community Development Block Grant (CDBG) entitlement funds.

West Haven First-Time Homebuyer Down Payment Assistance Program offers up to $7,500 in assistance. Amounts are the program's published maximums, not an offer — City of West Haven Community Development Administration (CDA) determines any individual award.

West Haven First-Time Homebuyer Down Payment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale of home before end of 5-year period; loan amortized over period of owner-occupancy at 20% forgiveness per year (pro-rated balance due on sale). The assistance is recorded in second_mortgage position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

West Haven First-Time Homebuyer Down Payment Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. Residency requirement: Property must be located in the City of West Haven.

West Haven First-Time Homebuyer Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Household income at or below HUD 80% AMI by size (New Haven-Milford MSA, FY2024): 1p $69,800; 2p $79,800; 3p $89,750; 4p $99,700; 5p $107,700; 6p $115,700; 7p $123,650; 8p $131,650. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

West Haven First-Time Homebuyer Down Payment Assistance Program can be used for Single Family and Condo.

West Haven First-Time Homebuyer Down Payment Assistance Program serves homebuyers purchasing in West Haven, Connecticut.

Applications for West Haven First-Time Homebuyer Down Payment Assistance Program go through City of West Haven Community Development Administration (CDA), which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.