City of Bridgeport Down Payment Assistance Program
The City of Bridgeport’s Down Payment Assistance Program offers loans up to $15,000. These funds are allocated to help offset the down payment and closing costs.
In order to be eligible for the City of Bridgeport’s First-Time Homebuyer Down Payment Assistance Program, all applicants must be first-time homebuyers (must not have owned property in the past 5 years) whose total household income must fall within 80% of the Area Median Income (shown below). They must be pre-approved for a fixed-rate mortgage and have a written pre-approval letter from a mortgage lender. All borrowers are required to contribute a minimum of 1% of the purchase price from their own funds and complete an 8-hour homebuyer education class with a HUD-approved counseling agency.
The program’s property guidelines state that the home purchased can have 1-4 units and must be located within the City of Bridgeport. It must be occupied as the owner’s primary residence and the property value cannot exceed 95% of Bridgeport’s median purchase price for single-family homes.
1-person household: $46,000
2-person household: $52,600
3-person household: $59,150
4-person household: $65,700
5-person household: $71,000
6-person household: $76,250
7-person household: $81,500
8-person household: $86,750
Note: All information mentioned above was accurate at the time of publication and may no longer be current - visit the program website for updated information.
First-Time Homebuyer Programs in Connecticut
The City of Bridgeport offers the First-Time Homebuyer Down Payment Assistance Program to help homebuyers achieve their dreams of homeownership by providing assistance loans up to $15,000.
The SmartMove Connecticut program helps first-time homebuyers bridge the gap between affording a house payment and the larger, upfront costs of down payments and closing costs.
The City of New Haven offers a Down Payment and Closing Costs Assistance Program to help first-time homebuyers afford their dream home.
The Connecticut Housing Finance Authority has put together the CHFA First-Time Homebuyer Guide to help first-time homebuyers understand the mortgage process and make better decisions.
Fairfield First Time Homebuyer Assistance Program is funded by HUD to help potential homeowners afford the down payment and closing costs on a new home.
The City of Norwalk's First Time Home Buyer program helps low-income families the opportunity to affordably purchase their first home.
First-time homebuyer assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.
FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.
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