HDF FAQs

FAQs – Frequently Asked Questions About HDF’s Programs

Got a question about HDF’s programs or services? We’ve answered some of your frequently asked questions (FAQs) below. Scroll down to see our answers to FAQs about multifamily development projects!

Who's eligible for the First Time Homebuyer program (FTHB)?

HDF offers free homeownership counseling to clients looking to buy a home. HDF also offers down payment and closing cost assistance loans to income-qualified first-time homebuyers who are purchasing a home within HDF’s service area.

Income eligibility is based on Household income, income of all adults who will live in the new home. A first-time homebuyer is someone who is buying a home for the first time or who has not owned a home at any time, anywhere in the last three years.

For our current income limits and service area,

Click here for Connecticut 

Click here for New York

Are HDF products loans or grants?

All HDF products are loans that must be paid back. Some products require monthly payments, while others are deferred and only due when you sell or transfer the property, or refinance your first mortgage.

Do I need to put any money down for the purchase of the home?

First time homebuyers should expect to contribute some money to the home purchase. Depending on the loan products chosen, a borrower may need to contribute to the down payment: pay for the appraisal, inspections, closing costs, and will be required to have funds remaining in savings after closing. HDF SmartMove funds are used for up to 25% of the purchase price while a first mortgage lending partner can lend up to the remaining 80%. Generally, borrowers should expect to contribute at least 1-3% of the purchase price

Where can I buy a home through the FTHB program ( needs links updated)

Where can I buy a home using HDF’s FTHB program?
Using HDF’s SmartMove product, you can purchase a home anywhere in Connecticut or in New York State.  To view a map of our current service area, please click here for Connecticut and here for New York.

Other lending programs have different geographic scopes – 

visit our FTHB page for more details, or contact us today!

How do I apply for the FTHB program?
The FTHB program has 2 components: counseling and lending. All HDF loan borrowers must complete the counseling requirements. A borrower who submits the required documents will be assigned a counselor/adviser. They will determine eligibility & readiness and provide guidance on the loan application.
Here you will find our Orientation Video as well as instructions on how to apply to our FTHB program.

I can't come to your offices for counseling or education. Can I still apply to the FTHB program?

Yes! You can work remotely with your homeownership adviser. Just register on HDFCompass and choose the remote counseling option. You can complete counseling and homebuyer education classes without ever setting foot in one of our offices.

For your convenience, HDF also has partnerships with a number of local housing counseling agencies. If you prefer, you can complete counseling and education with an HDF partner and still use HDF’s lending services.

Contact your preferred agency and explain that you are interested in using HDF’s lending products. To view a map with all of our partners, please click here to view a list of all our partners. 

What documents do I need to upload or submit to start the process?
  • Last three years of federal tax returns signed for the applicant and coapplicant and their spouses (if any). Include all schedules.
  • W2 for the last three years for the applicant and coapplicant (If any). If self employed, submit the 1099’s for the past three years (If any)
  • Intake Form (IEP) needs to be filled out. Once you create a portal account, you will be able to fill it out electronically
  • 2 most recent paystubs for the applicant, coapplicant and everyone in the household 18 years or older
  • If receiving Social Security benefits, submit award letter for current year
  • If receiving pension, child support or other income; verification of income received in the past 4 weeks.
  • Copy of ID for the applicant and coapplicant.
  • Pay for your credit report at hdfconnects.org/credit-report/

Have Questions?

Please contact us. We are happy to answer any questions you may have.

Name(Required)
How long does your process take?

The length of the process largely depends on how quickly you can respond to our process requirements.
You must complete the counseling process before you can apply for lending products. Your file is not assigned to a counselor until your HDF Compass profile is complete and all documents are submitted. Once that is done, your counselor will assess your eligibility and readiness and will contact you within 10 business days.
Homebuyer Education is required prior to closing (6-8 hour Homebuyer class, Landlord class, etc.) and your schedule will determine when to complete it.
The loan application & lending process begins once the counseling process is completed. The lending process is usually completed in 30 days.

Can I apply for more than one program
Yes. Most HDF borrowers use our SmartMove loan product. This can be combined with many of our other products, depending on your situation and eligibility.
Once you’ve created a profile on our online customer portal, you’ll schedule your first counseling session. Your homeownership counselor will let you know for which programs you might qualify and whether would benefit from layering loan products in your financing structure.
What does my credit score have to be?
HDF is not credit score driven. We do require that collections & judgements be paid & that you are currently paying accounts on-time. The HDF loan committee pays close attention to credit payment patterns and your written explanations for negative activity. The 1st mortgage lender may have a minimum score, separate from HDF’s evaluation.
How do I pay for a credit report?

You can pay online by using our convenient payment portal. Please click here to access information and payment instructions.  The current fees are listed below:


Type of report




What types of properties can I purchase?
As a first-time homebuyer, the property you purchase must be your primary residence. You can purchase a single-family home; a multifamily home with 2-4 residential units, a townhouse, or a condominium. HDF does not provide financing for mobile homes or co-ops.
I've already put in an offer on a house. Can I still use HDF? (UPDTE Links)
Yes. HDF will make every effort to work with you, even with a more aggressive timeline.
Please create a profile on our online customer portal as soon as possible, AND use the “Residential Lending” option on our contact form to notify us of your status.
You will still need to complete the homeownership counseling and education process. In the case that your offer is not accepted, or you choose not to continue with the purchase, please continue the process with HDF. The next time you put in an offer, so you will be ahead of the process as you continue to move forward.

MULTIFAMILY DEVELOPERS FAQs

FAQs – Frequently Asked Questions About HDF’s Programs

What type of commercial real estate does HDF finance?
We finance rental or homeownership properties, as well as mixed-use developments where 50% of the property’s square footage is devoted to residential.
We have financed land for the purpose of affordable housing, supportive housing, senior housing, and regular, naturally occurring affordable rental and condominium units.  We have also helped towns when their 8-30g requirements have not been met.
(See our affordability requirements)
What are the financing options for an HDF developer?
HDF offers a variety of products and services, including predevelopment loans, bridge loans, acquisition loans, renovation and constructions loans, and 30-year permanent loans.  We can finance one part of your project, or we can be your one-stop shop for a project from beginning to end.
What percentage of affordable units does HDF require?
The amount of affordable housing we require can vary, though each project must have at least 30% affordable residential housing. (See our affordability requirements)
Who does HDF work with?
HDF works with private developers, non-profit developers and organizations, government entities, and housing authorities just to name a few. We help acquire, renovate/build, and maintain all types of affordable housing with a variety of different partners.
Can I apply for HDF financing on multiple properties?
Yes! HDF can finance loans up to $5 million, and the financing can be spread among multiple properties.
Does HDF finance other property units besides multifamily (office, retail, etc.)?
Yes, but only if at least 50% of the property’s square footage is used for residential purposes.
(See our requirements)