First-Time Home Buyers Get A Break In Hartford

HARTFORD, CT — A $500,000 grant from the Greater Hartford Gives Foundation will help up to 24 lower-income households in the Hartford area purchase their first homes.

The grant was awarded to the Housing Development Fund to support its Homeownership Equity Fund, which provides zero-interest loans for down payments and closing costs to eligible households in communities served by the foundation.

Households must earn 70% or less of the area median income to participate in the program.

HDF launched the Homeownership Equity Program in July 2022. Since then, 133 households have received assistance, including 54 in Greater Hartford, according to the organization.

The latest funding follows a previous $600,000 grant from the foundation, then known as the Hartford Foundation for Public Giving.

“HDF is fortunate to have the Greater Hartford Gives Foundation as a strategic partner in our efforts to help more low-income folks in the Hartford area build wealth through homeownership,” HDF President and CEO Kiley Gosselin said.

As a HUD-certified homeownership counseling agency, HDF also provides participants with free individual pre-purchase counseling and a six-hour education course.

The new Greater Hartford Gives grant will be used specifically for down payment and closing cost loans, while other resources will fund counseling and education.

HDF said the average area median income for buyers it supports in Greater Hartford is 58%.

The foundation's 2026 Equity Report found significant disparities in homeownership across the region.

According to the report, 77% of white households own their homes, compared with 44% of Black households and 35% of Latino households.

In Hartford, the overall homeownership rate is 26%.

“Homeownership is one of the most effective means to build generational wealth, create more stability for families, and promote improved community connections and investments,” Greater Hartford Gives Community Impact Officer Damion Baker said.

More Hartford Homeownership Projects Planned

HDF is also working on a new Homeownership Construction Program aimed at expanding low- and moderate-income homeownership opportunities in Hartford.

The effort is supported by a $6 million grant from the Connecticut Department of Housing, including $2 million designated for Hartford, along with a separate $2 million grant from the City of Hartford.

HDF said the funding will support development of up to 25 new homeownership units in Hartford and help close the gap between construction costs and affordable sale prices.

The organization is partnering with the City of Hartford and Hartford Land Bank to provide financing and grants primarily to local developers building owner-occupied single-family and multifamily homes on vacant lots and blighted properties.

HDF said it is also supporting, or discussing support for, larger affordable homeownership projects in West Hartford, Simsbury, and Hartford's Clay Arsenal and Northeast neighborhoods.