The Voice for Real Estate in Eastern Connecticut		Housing Opportunities for Everyone
Housing Solution Web Sites REALTOR® State of Connecticut Federal	Introduction: Affordable housing has become a critical concern in Eastern Connecticut as prices continue to rise and zoning restrictions make it more and more difficult to build homes that the average person can afford. What do we mean by affordable housing? To us, it means providing housing that all levels of the socio-economic spectrum can afford, whether it be rental or homeownership. It means children having the ability to purchase homes in the community that they grew up in when they enter the workforce. HOME FROM WORK The Eastern Connecticut Association of REALTORS^® joined the National Association of REALTORS^® (NAR) Home from Work campaign ON April 26, 2007 by offering a continuing education training program to member REALTORS^®. Home From Work is an innovative effort to increase affordable homeownership opportunities for the Eastern Connecticut workforce through access to housing information and education, homeownership assistance, and low-cost financing options. Through the combined efforts of real estate professionals, lending, and business partners, this initiative will work with employers to utilize Employer-Assisted Housing (EAH) benefit plans to achieve the goal of increasing housing and economic development opportunities throughout the state. For more information on the Home From Work program click here.		UPCOMING HOUSING EVENTS, SEMINARS & MORE Eastern Connecticut Housing Opportunities (ECHO). Home for sale at 26 Crescent St., New London Partnership for Strong Communities Events
PROGRAMS OF CURRENT INTEREST TO HOME BUYERS, HOME SELLERS AND RENTERS HOMEOWNERSHIP PROGRAMS The Connecticut Housing Investment Fund, Inc. (CHIF) is a private, nonprofit organization established to finance affordable housing and neighborhood revitalization projects throughout Connecticut. Programs for homeowners and home buyers include: Energy Conservation Loan Program Home Improvement Loan Program First-Time Homebuyer Program The CHIF/USDA Rural Services Homeownership Program To view these programs, go to http://www.chif.org/owner_borrowers/index.shtml CHIF is located at 121 Tremont St., Hartford, CT 06105. Phone: 800-992-3665 Habitat For Humanity of Southeastern Connecticut’s home ownership program is located at http://www.habitatsect.org/mambo/content/section/8/38/ Habitat For Humanity of Southeastern Connecticut is located at 377 Broad St., New London, CT 06320. Phone: 860-442-7890 CREDIT COUNSELING Consumer Credit Counseling Service of Southern New England 290 Salem-Norwich Turnpike (Route 82) Norwich, CT 06360 1-800-450-2808 http://www.creditcounseling.org/ OTHER HOUSING PROGRAMS Southeastern Connecticut Housing Alliance (SECHA) - http://www.secha.org/ SECHA believes that the regions’ workforce is entitled to quality affordable housing as well as a real choice in selecting that housing. The people that constitute our growing job base, thereby strengthening our economy, need affordable, safe and decent housing within reasonable commuting distances from their jobs. Topics on this site include: Housing Facts, Resources for Developers, Resources for Towns, Legislation, and more. Thames Valley Council for Community Action provides housing programs include: Eviction Prevention Program Supportive Housing Program Section 8 Program TVCCA Shelter for the Homeless For details go to http://www.tvcca.org/services/housing.html TVCCA is located at 83 Huntington St., New London, CT 06320. Phone: 860-444-0006 MORTGAGE FORECLOSURE ASSISTANCE Hotline at 877-472-8313 Citizens Bank, Sovereign Bank, TD Banknorth, Webster Bank and Bank of America have committed $125 million in funds to create the Mortgage Relief Fund. Our goal is to help eligible homeowners in New England refinance into more conventional fixed-rate loans that will better meet their needs. To learn if you are eligible go to http://www.mortgagerelieffund.com/ __________________________________________________________________________________________________________________________ Steps to Buying a Home The first step in buying a home should be to begin working with a REALTOR®. Before you begin looking for a home, you should sit down with a mortgage lender who is an Affilate Member of the Eastern Connecticut Association of REALTORS®. ECAR Affiliate Member Mortgage Lenders have access to a wide variety of mortgage financing programs, including those listed below. ECAR Affiliate members are periodically surveyed to determine the types of financing programs that they offer. These include Conventional, FHA, VA, CHFA, Rural Housing, Rehab/renovation , American Dream Downpayment Initiative, B/C Credit Programs and Special programs. To view the most recent survey, go to the Affiliate Lender Survey Page. For more information on the financing process go to the Useful Information Page and explore the links on the right hand side of the page. The Eastern Connecticut Association of REALTORS® created a Housing Opportunity Committee in 2003 to act as a "clearing house" for information regarding affordable housing financing programs and to disseminate the information to the members and the public. That is the purpose of this page. We are interested in posting information on all types of programs: grants, special lending products and local municipal incentives are examples. If you have specific information regarding a lending or housing program please fill-out and submit the Housing Opportunity Form and we will post the information on this page. We will only post information on programs where a contact name and details are provided.

Web sites that offer specific financing programs

REALTOR Web Sites

The National Association of REALTORS® Housing Opportunity Web Site

Connecticut Association of REALTORS® Housing Solutions Web Site

State of Connecticut Web Sites

Connecticut Housing Finance Authority About CHFA CHFA is a leader in housing finance in Connecticut. Over the past 34 years, CHFA has helped more than 100,000 families and individuals purchase their first home and has provided financing for the construction and/or rehabilitation of more than 27,000 units of affordable rental housing for families and the elderly. To learn more about CHFA, go to http://www.chfa.org/MainPages/about.asp A few of the programs offered by CHFA include: Home Buyer Mortgage Program CHFA Downpayment Assistance Program CHFA Home of Your Own (for persons with disabilities) CHFA Police Homeownership Program CHFA Military Homeownership Program CHFA Teacher's Mortgage Assistance Program CHFA Rehabilitation Mortgage Loan Program CHFA Mortgage Finance for Multifamily Housing for Developers CHFA Apartment Conversion for the Elderly (ACE)- ACE provides financing for elderly Connecticut homeowners to construct an addition to their home or renovate part of their home to create an accessory apartment. CHFA Reverse Annuity Mortgage Program CHFA approved lenders

Federal Web Sites

Department of Housing & Urban Development Programs at HUD include: Home Buyer's Page American Dream Downpayment Initiative The American Dream Downpayment Initiative (ADDI) was signed into law on December 16, 2003. The American Dream Downpayment Assistance Act authorizes up to $200 million annually for fiscal years 2004 - 2007. ADDI will provide downpayment, closing costs, and rehabilitation assistance to eligible individuals. The amount of ADDI assistance provided may not exceed $10,000 or six percent of the purchase price of the home, whichever is greater. The rehabilitation must be completed within one year of the home purchase. Rehabilitation may include, but is not limited to, the reduction of lead paint hazards and the remediation of other home health hazards. To be eligible for ADDI assistance, individuals must be first-time homebuyers interested in purchasing single family housing. A first-time homebuyer is defined as an individual and his or her spouse who have not owned a home during the three-year period prior to the purchase of a home with ADDI assistance. ADDI funds may be used to purchase one- to four- family housing, condominium unit, cooperative unit, or manufactured housing. Additionally, individuals who qualify for ADDI assistance must have incomes not exceeding 80% of area median income. In Eastern Connecticut the program is administered by Eastern Connecticut Housing Opportunities, Inc. (ECHO). View ECHO's introductory flyer, a detailed fact sheet, and the ADDI Home Buyer Application for the American Dream Downpayment Initiative. For additional information, contact:     Sally Williams     Eastern Connecticut Housing Opportunities, Inc.     228 State Street, Suite 5     New London, CT 06320     (860) 447-8055 swecho@sbcglobal.net Renter's Page

Veterans Administration - 100% financing is available through the VA.

Department of Agriculture, Rural Development Housing Programs - single family direct and guaranteed loans, grants, and repair and rehabilitation Loans and a variety of multifamily programs.