Current Mortgage Programs

C4C manages a variety of programs to assist prospective homeowners to purchase a new home. Eligibility requirements are determined by our funding partners and may be restricted to targeted groups or communities. 

New Haven Teacher's Program

The New Haven Teacher's Fund of The Community Foundation for Greater New Haven is designed to encourage teachers to live and teach in the City of New Haven, especially in moderate income neighborhoods. The fund provides down payments and closing cost assistance up to $40,000 to teachers employed by the City of New Haven Public School System who purchase homes in New Haven. Loans are 0% interest with repayment deferred until the earlier of 30 years or the sale, transfer, or refinance of the property.

Eligibility

  • Must meet one of the following employment criteria:
    • All members of NHFT, Local 933 currently employed by the New Haven Public School System
    • Paraprofessionals/teacher's aides in Local 884, Council 4, AFSCME, AFL-CIO currently employed by the New Haven Public School System

    • Paraprofessionals in Local 3429, AFSCME currently employed by the New Haven Public School System

    • All employees of the Connecticut Center for Arts and Technology (ConnCAT)

  • Must be able to qualify for a first mortgage through Webster Bank **Income limits may apply**

  • Must agree to occupy the house as your primary residence throughout the term of the loan

  • Must purchase a 1-4 family house or a condominium located within the City of New Haven


Loan Terms

  • Amount: 20% of the purchase price of the home, with a minimum loan size of $20,000 and a maximum loan size of $40,000

    • Teachers who purchase a home in a priority neighborhood** will automatically qualify for $40,000
  • Interest Rate: 0% (APR 0%)

  • Term: 30 years. Repayment is required upon the earlier of maturity or any sale, transfer, or refinance of the home

  • Security: Subordinate mortgage lien on the property 

  • Use of Funds: The loan may be used toward the down payment and closing costs required for the purchase of the home

** Priority Neighborhood Census Tracts eligible for $40,000: 1403, 1404, 1405, 1406, 1407, 1408, 1409, 1412, 1413, 1414, 1415, 1416, 1421, 1422, 1423, 1424, 1425, 1418(addresses west of Prospect Street only). To check if a property is located within one of these tracts, please go to: www.ffiec.gov/geocode/default.aspx and type in the property address. A map of the area containing these tracts is also located in the application package. 

How to Apply

Please click here to download an application for the program.

Questions?

Please email lending@capitalforchange.org 

For more information about The Community Foundation for Greater New Haven, please click here


Mobile Home Purchase Mortgage

This program is for qualifying first-time homebuyers purchasing a mobile home located in a state-licensed mobile home park within Connecticut. The income limits for this program are set by the Connecticut Housing Finance Authority (CHFA) on a town-by-town basis. Thirty-year fixed-rate term financing at a low interest rates can be secured with a minimum down payment of 20%. These loans are not eligible for down payment assistance. A good credit history is also required.

Key Features

  • Low interest rate

  • 30-year fixed rate term

  • Low closing costs

  • One-on-one personal attention

  • No application fee

  • No prepayment penalty

How to Apply

Please click here to download an application for the program.

Questions?

For additional information, please email lending@capitalforchange.org 

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