Mayor Joseph Ganim announces the availability of Down Payment Assistance for low to moderate income households in Bridgeport.
Eligibility Criteria
- Forgivable loans of up to $10,000 for down payment and closing costs
- Buyer must have a wriƩen pre‐approval from a mortgage lender
- Buyer must be pre‐approved for a fixed rate mortgage
- Purchase property can be 1‐4 units
- Owner Occupancy Required
- Buyer must contribute a minimum of 2% of the purchase price
- Property must be located in the City of Bridgeport
- Household must make no more than 80% of the Area Median Income, as established by HUD
- Buyer must aƩend an 8 hour homebuyer class with a HUD‐approved counseling agency eg. BNT
- Property deed restricted for 5 years
- Not a property owner in the past 5 years
- Property value cannot exceed 95% of Bridgeport’s median purchase price for single family housing
For more information or to apply please call Bridgeport Neighborhood Trust
at 203.290.4255 or visit our website at www.bntweb.org
