Homebuyer Programs

New Haven Teacher’s Fund – Down Payment Assistance

The New Haven Teacher’s Fund of The Community Foundation for Greater New Haven provides down payment and closing costs assistance to encourage teachers to live and teach in the City of New Haven, especially in moderate income neighborhoods. 

Eligibility

• 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

How to Apply

Please click here to download an application for the program.

Questions?

Please email  or call (860) 233-5165, extension 2004 (Toll Free (800) 992-3665 x2004)

NMLS#276717

** 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 an address 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.

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