© 2023 Connecticut Public

FCC Public Inspection Files:
WPKT · WRLI-FM · WEDW-FM · Public Files Contact
Play Live Radio
Next Up:
Available On Air Stations

Connecticut Homeowner Assistance Program Underway

Norwalk Affordable Housing
Ryan Caron King
Connecticut Public
A woman walks up the stairs to a newly renovated unit in the Colonial Village public housing complex in Norwalk. After spending years to get local zoning approval, the project is now waiting on state funding to move forward. Every year, state legislators earmark millions of dollars to build new affordable housing. But as the housing market has heated up, Connecticut Public’s Accountability Project has found there’s a $450 million pot of money that hasn’t been spent.

With rents and home prices on the rise, Connecticut officials are touting a new state down payment assistance program that will help new homeowners. They say more than a dozen people have applied since the program launched a week ago.

The state has allocated $20,000,000 for the program and officials estimate it could help 500 to 1,000 home buyers. The program offers assistance to low and moderate-income homebuyers and gives up to $50,000 to borrowers.

Governor Ned Lamont said at a press conference Wednesday that the “Time to Own” program is filling a need when higher priced homes are dominating the housing market.

“We've got to do everything we can to help renters and those first time homebuyers step up and be able to get the opportunity for ownership as well,” he said.

Applicants must have been living in Connecticut for the last three years and make less than 80% of the median income for the area they plan to buy in.

Nandini Natarajan, CEO of the Connecticut Housing Finance Authority said the opportunity is especially important for prospective homeowners in Connecticut cities like Hartford.

“Homeownership can lead to stronger, more resilient communities, and for most Americans, homeownership still represents the best path forward to building intergenerational wealth,” she explained.

The loans will have a zero percent interest rate with no required monthly payment and part of the loan will be forgiven every year.

Learn more at the Connecticut Housing Finance Authority.

Michayla Savitt is a reporter at WNPR. She was a newsroom intern in summer 2022, covering the environment, among other issues. Prior to that, Michayla was a production intern for WNPR's talk shows. She is an alumna of the CUNY Graduate School of Journalism health & science reporting program. Additionally, Michayla has worked in various non-profit and commercial radio newsrooms.

Stand up for civility

This news story is funded in large part by Connecticut Public’s Members — listeners, viewers, and readers like you who value fact-based journalism and trustworthy information.

We hope their support inspires you to donate so that we can continue telling stories that inform, educate, and inspire you and your neighbors. As a community-supported public media service, Connecticut Public has relied on donor support for more than 50 years.

Your donation today will allow us to continue this work on your behalf. Give today at any amount and join the 50,000 members who are building a better—and more civil—Connecticut to live, work, and play.