HDF is proud and excited to enter our 14th consecutive year as an award recipient of CHFA’s housing tax credits for our Live Where You Work Program (LWYW).
The program’s mission is to provide individuals and families the means to purchase a home in the same town as where they work. LWYW is a 30-year 0% interest loans (up to $20,000) for down payments or fees to income-eligible clients. LWYW has been funded entirely out of CHFA’s housing tax credit contribution program; our awarded tax credits of $500,000 were purchased this year by Eversource Energy. We at HDF are grateful for CHFA and Eversource’s dedicated support of HDF and their firm belief that reinvesting in local communities matter.
Established over 10 years ago, 400 homebuyers have used LWYW loans to purchase homes in the areas they work. Not only does this program support homebuyers in their pursuit of homeownership, but by doing away with long commutes it increases the opportunities for homeowners to strengthen and revitalize their communities.
In order to be eligible for Live Where You Work, clients must be purchasing a home in the same town in which at least one member of the household works in Connecticut, complete first-time homebuyer counseling and education with HDF, and receive their first mortgage from one of HDF’s approved first lenders. The homeowner must also be eligible according to income guidelines set by town.
Find out more at hdfconnects.org/fthb!