MyHomeCTUnder the American Rescue Plan Act of 2021, Connecticut has been awarded approximately $123 million to establish MyHomeCT, a program funded by the Homeowner Assistance Fund. Administered by the Connecticut Housing Finance Authority (CHFA)
The goal of MyHomeCT is to provide assistance to eligible CT homeowners who have experienced a COVID-19-related financial hardship. The assistance is meant to cure and/or prevent mortgage and housing-related delinquencies and foreclosure.
For more information, talk to a housing specialist about this program today!
Qualified expenses under this program include:
- Mortgage delinquencies/payment assistance. Deferred payments that are interest-bearing may be considered an eligible expense.
- Non-escrowed real estate taxes
- Condominium and/or homeowners’ association fees or special assessments
- Non-escrowed homeowners’ insurance and flood insurance
- Water and sewer liens
- Ground lease or lot payments
- Fees that were advanced by the loan servicer on behalf of an applicant with a reverse mortgage
Assistance can be made in the form of a one-time reinstatement, ongoing forward payments (for a maximum of 12 months), or a combination of both not to exceed the program’s maximum of $50,000.
To be eligible, you must satisfy all of the following requirements:
- Applicant must live in the state of Connecticut and occupy the property as their primary residence.
- Applicant/household member must have experienced a COVID-19 related financial hardship after January 21, 2020, or experienced a financial hardship before January 21, 2020, which was then exacerbated by the pandemic. Assistance for a delinquency prior to January 21, 2020, is capped to three months.
- Property must be an owner-occupied 1-to-4 unit house, condominium, townhouse, or manufactured home.
- Household income must be equal to or less than 150% area median income (AMI), adjusted for household size.
- Homeowner must seek assistance for first priority liens only.
- Homeowners applying for mortgage assistance must have a mortgage that had a principal balance at or below the Federal Housing Finance Agency’s conforming loan limits for Fannie Mae and Freddie Mac at time of origination.
Homeowners can apply for MyHomeCT by visiting www.myhomect.org.
- The application is accessible on a computer/laptop, Smartphone and iPad/tablet.
- Paper applications (English and Spanish) will be available to homeowners who do not have access to technology. A paper application can be printed from www.chfa.org/MyHomeCT, picked up from CHFA or a Resource Center. Completed applications can be mailed or dropped off at CHFA’s office or at a Resource Center.
- Homeowners can contact a MyHomeCT Resource Center who can provide assistance in completing the application and/or uploading documentation.