September 9, 2016
A new, statewide program for downpayment and closing cost assistance has launched in Connecticut.
HDF and the CT Department of Housing are pleased to announce that the Statewide Downpayment Assistance Program is now available to eligble first time homebuyers. Statewide DAP offers loans of up to $15,000-25,000 to eligible homebuyers across the state.
Assistance is available to first-time buyers who are purchasing their primary residence. The annual income of the borrower must be less than 100% of Area Median Income (AMI) guidelines.
This program is available to buyers of homes across the State of Connecticut; the amount available depends on where the home is purchased. The assistance is a 30-year, 0% second mortgage. There are no loan closing fees associated with the loan, and the funds can be used for the downpayment and/or for closing costs.