The Town of Hamden Office of Housing and Neighborhood Development offers applications for a First-Time Homebuyer Down Payment Assistance Grant. The program is designed to assist low and moderate income first-time homebuyers with the purchase of their first home. Qualified applicants can receive up to $5000 in matching funds to help with their down payment.
Down Payment
Assistance Application
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Frequently Asked Questions about the Downpayment Assistance Program
Q: Is this a grant or a loan? Will I have to pay any money back?
A: The grant is a second mortgage (5) year declining lien, forgiven annually
at a rate of twenty percent (20%) of the original amount. At the end of
five years the lien is forgiven entirely if the applicant occupies the
property as his/her primary residence.
Q: How do I know if I qualify for this program?
A: There are income guidelines which the applicant has to meet. The applicant
must be current on all taxes including motor vehicles registered in the
Town of Hamden.
Q: Can I purchase a home anywhere in town?
A: The Grant is a Community Development Block Grant therefore the home
would need to be purchase in one of the three
(3) designated target areas. Census Tract #1655 - Highwood, Census
Tract # 1656 - Hamden Plains, and the State Street Neighborhood Revitalization
Zone. A listing of specific street is included with the program guidelines
and application.
Q: Will the Office of Housing and Neighborhood Development help
me find a home?
A: No, you will need to contact a real estate agent to assist in finding
a home. If you do not already have a real estate agent, your mortgage
lender may be able to recommend one.
Q: Can I purchase any type of home?
A: To qualify for the program you must purchase a detached single family
or two to four-family dwelling. Investment properties are not eligible
for assistance.
Q: Do I need to be a Hamden resident to apply?
A: No.
Q: When looking at houses, is there anything I specific I should
consider?
When looking at houses, in addition to ensuring that they are in the target
zone, you should consider the condition of the interior and exterior painted
surfaces. All homes purchased with these funds must pass an inspection
by a certified lead inspector, and any peeling, chipped, chalking, or
otherwise damaged painted surfaces will cause the house to fail inspection
until those defects are fixed. Click
here to learn more about how to protect your family from lead.
Q: How can I find out more information and/or get an application
for the Hamden First-Time Homeownership Down Payment Assistance Program?
A: You can contact the Office of Housing and Neighborhood Development
at 203-776-5978 or stop by the office located at the Keefe Community Center,
11 Pine Street, Hamden, CT 06514.
LINKS
U.S. Department of Housing & Urban Development
Connecticut Department of Economic & Community Development
Quinnipiac Valley Health District
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Office of Housing & Neighborhood Development
11 Pine Street, Hamden, CT, 06514
(203) 776-5978
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