Lift Up Homeownership

Lift Up Homeownership es un préstamo condonable para compradores de vivienda en Statewide, Connecticut, a cargo de Federal Home Loan Bank of Boston (FHLBank Boston). Lift Up Homeownership is an FHLBank Boston down-payment and closing-cost grant for income-eligible first-generation, first-time homebuyers purchasing a primary residence in New England, including Connecticut. Eligible buyers earning up to 120% of area median income receive a 0% grant (forgiven over a 5-year retention period) delivered through participating member banks and credit unions. Funds may be used for down payment, customary closing costs, and up to a 2-point interest-rate buydown. Down-payment & closing-cost grant (per-round cap; up to ~$50,000 in recent rounds). 0% forgivable over a 5-year retention period. First-generation first-time buyers up to 120% AMI. Up to 2-point rate buydown. Statewide in CT through FHLBank Boston member lenders. Los fondos provienen de FHLBank Boston voluntary, board-approved Special Purpose Credit Program (separate from the AHP-regulated set-aside).

Lift Up Homeownership ofrece hasta $50,000 de ayuda. Niveles de ayuda: Per-homebuyer grant cap is announced each annual funding round; member enrollment cap up to $400,000 ($200,000 for first two releases). Two-pool allocation: 60-day state pool, then general first-come pool. Aporte del comprador de vivienda: Each assisted household must contribute $1,000 of their own funds (cannot be a gift or gift of equity); may include earnest money deposit, cash to close, and paid-outside-closing fees. The contribution must remain in the transaction. Los montos son los máximos publicados por el programa, no una oferta: Federal Home Loan Bank of Boston (FHLBank Boston) determina cualquier ayuda individual.

Lift Up Homeownership se perdona después de 5 años, así que un comprador de vivienda que se quede ese tiempo no lo devuelve. El reembolso se activa por Pro-rata subsidy repayment if sold/transferred/refinanced (and not subordinated)/foreclosed during the 5-year retention period; fully forgiven after 5 years. Obligation terminates on foreclosure, deed-in-lieu, or death of the assisted homeowner. La ayuda se registra con un gravamen en posición Subordinate (second) lien. Los términos de condonación y reembolso los fija el programa y pueden cambiar; confírmalos en la página oficial del programa antes de presentar la solicitud.

Lift Up Homeownership está abierto a compradores de vivienda por primera vez y compradores de vivienda que vivirán en la vivienda como su residencia principal. “Primera vez” tiene excepciones aquí: First-time homebuyer per 42 U.S.C. 12704(14): neither the borrower nor spouse may have owned a home in the 3 years prior to purchase. Se requiere un curso de educación para compradores de vivienda, a través de At least one borrower must complete FHLBank Boston-approved homebuyer education/counseling within 24 months of enrollment approval or closing. Approved organizations are listed by New England state on FHLBank Boston's Homebuyer Education/Counseling list; online options include eHome America, Fannie Mae HomeView, Finally Home!, Framework, or Home Trek (post-counseling required). CURRENT program (Procedures effective April 2026) serves FIRST-GENERATION first-time homebuyers (parents/legal guardian of at least one borrower never owned a U.S. home, or a borrower aged out of foster care) - it is NOT race/ethnicity restricted (prior 'people of color' framing has been superseded; the catalog's NH Lift Up row should be re-checked). Apply only through an FHLBank Boston member institution. Per-homebuyer grant amount is set each annual funding round; ~$50,000 in recent rounds - CONFIRM current round amount. Requires $1,000 of buyer's own funds; asset cap $150,000; front-end ratio over 37% requires compensating factors; max $250 cash back at closing. Eligible property types not enumerated in the procedures (primary residence only) - left blank pending confirmation.

Lift Up Homeownership limita el ingreso del hogar al 120% del ingreso mediano del área, que varía según el condado y el tamaño del hogar. Household income up to 120% of HUD AMI based on the property's location; income of all adult (18+) household members is counted. El límite se aplica al ingreso total del hogar, no solo al del prestatario. Las cifras del ingreso mediano del área las publica HUD y se actualizan cada año, así que consulta la tabla vigente del condado antes de basarte en una cifra.

Lift Up Homeownership limita el precio de compra así: No standard purchase-price limit; IRS Mortgage Revenue Bond Average Purchase Price Limits apply only in the asset-cap exception scenario.

Lift Up Homeownership menciona a compradores de vivienda de primera generación entre los grupos a los que atiende. Aparecer aquí significa que el programa menciona al grupo, no que pertenecer a él baste por sí solo para que un solicitante califique; las demás reglas de elegibilidad siguen aplicándose.

Lift Up Homeownership atiende a compradores de vivienda que compran en Statewide, Connecticut.

Las solicitudes de Lift Up Homeownership se tramitan a través de Federal Home Loan Bank of Boston (FHLBank Boston), que publica los términos vigentes y los pasos de la solicitud en su propio sitio. Los fondos se reservan a través de First-come, first-served via FHLBank Boston Community Lending online system through approved member institutions. Enrollment submitted 15 business days before closing; funds reserved 90 days. Hey Prescott no es un prestamista y no acepta solicitudes; esta página describe el programa para que un comprador de vivienda pueda llevarlo a un prestamista o a un asesor de vivienda.