OTHER FUNDING AVAILABLE (view this page in spanish)

From time-to-time, HDF receives funds from governmental agencies and other sources to administer as part of its First Time Homebuyers Program. These funding sources are available on a limited basis, and income and eligibility requirements apply. All buyers will need to complete the HDF homeownership counseling program requirements, which include orientation, one-on-one homeownership counseling and conform to HDF’s underwriting criteria. 8-hour CHFA Homebuyer Education classes offered by HDF may be required for some loan programs.

Currently, HDF has additional funding under the following programs:

Stamford HOME Assistance Program
HDF administers the City of Stamford's HOME Funds for down payment assistance. An interest-free maximum loan of $20,000 is payable at the end of 30 years, or upon payoff of first mortgage, sale of property, or transfer of title. There is a $2,000 fee for this loan, payable to HDF at closing.

To be eligible for HOME funds, the total household income must not exceed 65% of the Area Median Income as adjusted for family size.

This program is contingent upon an agreement with the City of Stamford. To be considered for the Stamford HOME program, you must attend an HDF orientation session (to schedule an orientation, click here).

NorthWalke
HDF administers the City of Norwalk's HOME funds through the NorthWalke program for down payment assistance. An interest-free loan of up to $50,000 is payable at the end of 30 years, or upon payoff of first mortgage, sale of property, or transfer of title. NorthWalke loans are forgivable over 5-15 years based on the size of the loan.

To be eligible for HOME funds, the total household income must not exceed 80% of the Area Median Income as adjusted for family size, and must purchase a property in Norwalk.

To be considered for the NorthWalke program, you must attend an HDF orientation session (to schedule an orientation, click here).

NorthWalke funds are not always available as they are dependent on the availability of federal HOME funds. HDF counselors will have information on current availability at their disposal as they work with clients.

ADDI

HDF was selected by Governor M. Jodi Rell as one of four housing organizations in Connecticut to administer HUD's American Dream Downpayment Initiative (ADDI). These funds are available to help first-time homebuyers with downpayment costs. The loans are in amounts equal to 6% of the purchase price or $10,000, whichever is greater. As long as the homebuyer remains in the purchased unit, the loan amount decreases annually on a pro-rata basis (based on the ADDI loan amount) when the lien will be released. If the unit is sold prior to the end of the loan period, the balance remaining will have to be repaid.

To be eligible, households may not earn more than 80% of the Area Median Income for the Stamford-Norwalk, Bridgeport, or Danbury Metropolitan Statistical Areas.

Funding is limited for the ADDI program. This is not an ongoing program. To be considered for the ADDI program, you must attend an HDF orientation session (to schedule an orientation, click here).