Over the past year, the Hartford City Council passed a resolution that helped bolster two programs that help promote homeownership in Hartford for seniors and for City employees utilizing $2.5 million in ARPA and state funding. While the applications have not yet been released by the City, below are specific eligibility requirements for both programs:
Homeownership Preservation Fund for Seniors
- Loans of up to $10,000 to Hartford homeowners over the age of 65 to finance exterior improvements to owner-occupied homes
- Applicants must have income up to 80% of area median income or around $24,000 for an individual or $36,000 for a household
- Loans can be forgiven after a period of continued homeownership
Down Payment Assistance for Municipal Employees
- Loan program to provide up to $10,000 in down-payment assistance for any municipal employee seeking to purchase a home in the City of Hartford
- Loans can be forgiven after a period of continuous owner occupancy
|