City of Bridgeport Down Payment Assistance Program

Mayor Joseph Ganim announces the availability of Down Payment Assistance for low to moderate income households in Bridgeport. Eligibility Criteria

1. Forgivable loans of up to $10,000 for down payment and closing costs

2. Buyer must have a wriƩen pre‐approval from a mortgage lender

3. Buyer must be pre‐approved for a fixed rate mortgage

4. Purchase property can be 1‐4 units

5. Owner Occupancy Required

6. Buyer must contribute a minimum of 2% of the purchase price

7. Property must be located in the City of Bridgeport

8. Household must make no more than 80% of the Area Median Income, as established by HUD

9. Buyer must aƩend an 8 hour homebuyer class with a HUD‐approved counseling agency eg. BNT

10. Property deed restricted for 5 years

11. Not a property owner in the past 5 years

12. 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

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