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Aid Available For First-Time Homebuyers In Fairfield

The Fairfield Office of Community and Economic Development is offering financial assistance to first-time homebuyers.
The Fairfield Office of Community and Economic Development is offering financial assistance to first-time homebuyers. Photo Credit: File

FAIRFIELD, Conn. -- First-time homebuyers in Fairfield can receive additional funding through the town's Office of Community and Economic Development.

Under this program, the town will provide 50 percent of the required down payment up to a maximum of $30,000 toward the purchase of a home through a no-interest loan, payable when the owner refinances, transfers the property or passes away.

The town will also help pay reasonable closing costs up to a maximum of $2,500. These funds may be used toward attorney fees, the cost of appraisals and/or prepaid interest and other financing charges, and are provided as a grant, which doesn't have to be repaid.

Applicants must also be first-time homebuyers, which, for purposes of this program, is defined as someone who has not had an ownership interest in a residential property within the past three years. All applicants are required to attend and furnish a certificate of completion from a HUD-certified first-time homebuyer counseling program.

For additional information, contact the Office of Community and Economic Development at 611 Old Post Road or call 256-3120.

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