SmartMove Homeownership Fund Second Mortgage Program

(A second mortgage program for low- and moderate-income buyers purchasing in Fairfield County or sections of New Haven and Litchfield counties. For an updated service area map, check HDF's website, www.hdf-ct.org)

CHFA has partnered with the Housing Development Fund, Inc. (HDF). CHFA will provide the first mortgage financing for a home, and HDF will provide a downpayment second mortgage loan to cover a 20% downpayment of the purchase price for eligible borrowers purchasing a home in Fairfield County. The second mortgage loan is for a term of 20 years at an interest rate of 3%. This will help alleviate having the borrower pay for mortgage insurance (which could be as much a $100 per month).

The HDF second mortgage program is being offered to low- and moderate-income families looking to purchase their first home in Fairfield County, including the cities of Stamford, Norwalk, Danbury and Bridgeport metropolitan statistical areas (Service Area). It is slated to be a 3-year pilot program.

The following lenders have agreed to participate in this second mortgage program:

Citi Mortgage - John March, 203-975-6884
First County Bank - Dave Zamary, 203-462-4330
Peoples United Bank - Terry Floyd, 203-338-3832
Newtown Savings Bank - Margaret Powers, 1-800-461-0672 ext.3118
Hudson City Savings Bank - Ralph Weeks, 201-967-1900
Savings Bank of Danbury - Martin Morgado, 203-731-5449
Fairfield County Bank - Kevin McMahon, 203-854-7617
Naugatuck Savings Bank - Bob Coulombe, 203-720-5363

For more information and to apply, go to: www.hdf-ct.org