These first-time homebuyer mortgages and grant programs may be able to help you get started.
Ready for your first home?
MORTGAGES
Community First Mortgage
First-time homebuyers mortgage for homes in specific towns
- $1,000 closing cost credit
- Reduced rates; fixed and variable options available
- Limited special grant programs available
- Up to 97% LTV (PMI required on LTV over 80%)
- Personal service from a first-time homebuyer mortgage specialist
- One no-fee rate or paydown modification. You choose when the time is right for you.
For homes purchased in these towns only;
Avon, Barkhamsted, Berlin, Bethlehem, Bloomfield, Bridgewater, Bristol, Burlington, Canaan, Canton, Colebrook, Collinsville, Cornwall, East Granby, Falls Village, Farmington, Goshen, Granby, Hartford, Hartland, Harwinton, Kent, Lakeville, Litchfield, Morris, New Britain, New Hartford, New Milford, Newington, Norfolk, North Canaan, Plainville, Plymouth, Rocky Hill, Roxbury, Salisbury, Sharon, Simsbury, Southington, Suffield, Terryville, Thomaston, Torrington, Warren, Washington, Watertown, West Hartford, Wethersfield, Winsted, Windsor Locks, Windsor, and Woodbury.
Purchasing a home in another a Connecticut town not listed above, please see Our Neighbors Mortgage below.
Other terms and conditions may apply and are subject to change. Subject to credit approval.
Our Neighbors Mortgage
First-time homebuyer program (for homes in towns not included in the Community First program above)
- Discounted rates for borrowers below the HUD Median Household Income
- Appraisal fee waived
- Fixed and variable options available
- Limited special grant programs available
- Up to 95% LTV (PMI required on LTV over 80%)
- Personal service from a first-time homebuyer mortgage specialist
Other terms and conditions may apply and are subject to change. Subject to credit approval.
Jake Rosenstein (NMLS MLO#878714)
Jennifer Ives-Groebl (NMLS MLO#532621)
Indrani Chakraborty (NMLS MLO#1101568)GRANT PROGRAMS
Housing Our Workforce (HOW) Program
Eligible homebuyers can receive up to $25,000 towards down payment and eligible closing costs.
The Housing Our Workforce (HOW) Program available through Northwest Community Bank is funded by the Federal Home Loan Bank of Boston (FHLBank Boston). Eligible homebuyers are able to receive a grant up to $25,000.
Eligibility and Requirements:
- Households must earn more than 80% and up to 120% of the current area median income (AMI).
- First-time homebuyers must complete a homebuyer-counseling course administered by an experienced homeownership counseling agency.
- Minimum borrower contribution $2,000.
- Property must be an owner-occupied primary residence.
- No repayment required after five years.
This program is similar to the Equity Builder Program (EBP), but with higher income limits and purchase price limits. Compare programs.
The number of available grants is limited and awarded on a first-come, first-served basis. Contact our mortgage lenders for more information and to see if you qualify.
Other terms and conditions may apply and are subject to change. Subject to credit approval.
Equity Builder Program (EBP)
Grant funds of up to $32,099 toward down payment and closing costs may be available for qualified first-time home buyers.
The Equity Builder Program (EBP) available through Northwest Community Bank provides funding up to $32,099 per property that can be used for down-payment assistance, customary closing costs (including single premium PMI), home-buyer-counseling costs not covered by another funding source.
Eligibility and Requirements:
- Households must earn no more than 80 percent of the current area median income (AMI), adjusted for family size, for Hartford or Litchfield County, or depending on the location of the new home.
- First-time homebuyers must complete a homebuyer counseling course administered by a homeownership counseling agency.
- Borrowers must be first-time homebuyers.
- Minimum borrower contribution $500.
- Property must be an owner-occupied primary residence.
- No repayment required after five years.
This program is similar to the Housing Our Workforce (HOW) Program, but with lower income limits and more allowable uses of grant funds. Compare programs.
The number of available grants is limited and awarded on a first-come, first-served basis. Contact our mortgage lenders for more information and to see if you qualify.
Other terms and conditions may apply and are subject to change. Subject to credit approval.
Lift Up Home Ownership (LUH) Program
Eligible 1st generation homebuyers receive up to $40,000 towards down payment and eligible closing costs.
The Lift Up Home Ownership program is a Special Purpose Credit Program available through Northwest Community Bank and funded by the Federal Home Loan Bank of Boston (FHLBank Boston) that is designed to increase the opportunity for 1st generation first-time homebuyers to purchase a home in the New England region by providing enhanced down payment and closing cost assistance in the form of a grant up to $40,000.
Eligibility Requirements:
- At least one borrower must self-identify as a 1st generation homebuyer.
- Households must earn less than 120% of the current area median income (AMI).
- Borrowers must be first-time homebuyers and must complete a homebuyer counseling course administered by a housing counseling agency.
- Minimum borrower contribution $1,000.
- Property must be an owner-occupied primary residence.
- No repayment required after 5 years.
The number of available grants is limited and awarded on a first-come, first-served basis. Contact our mortgage lenders for more information and to see if you qualify.
Other terms and conditions may apply and are subject to change. Subject to credit approval.