First-Time Homebuyer Program
Confidently Open the Door to Your First Home.
At Fairfield County Bank, we know that buying your first home is both exciting and overwhelming. That's why our local mortgage experts , right here in Fairfield County, are ready to help guide you every step of the way. As you prepare for one of the biggest purchases of your life, let us help you buy with confidence by unlocking a 30-year fixed rate mortgage designed specifically for first-time homebuyers(1):
Unlock the benefits
$650 CLOSING COST CREDIT
Receive a $650 credit(2) at closing!
FAST TURNAROUND & EXTENDED RATE LOCK
With a streamlined online application and decisions made locally, you can expect quick answers and an extended rate lock(5) available.
LOCAL MARKET KNOWLEDGE & EXPERIENCE
Our local Fairfield County mortgage experts, will provide step-by-step guidance, using their deep knowledge of your neighborhood to create the best possible experience. Along the way, they'll connect you with trusted local business professionals to support you through every stage of your homebuying journey.
DOWN PAYMENT ASSISTANCE
Benefit from access to grants and loans to help cover your down payment through the Housing Development Fund (HDF) and other local qualified grants(4).
HOMEBUYING TIPS
Learn how much you can afford by speaking with your mortgage expert or self-learn from articles, digital courses, calculators , checklists, and how-to guides about the homebuying process.
Are you eligible?
What type of home can I buy?
Single Family Homes, Condominiums,
and 1-4 Family Homes(6)
Where can I buy?
Western CT and Greater Bridgeport(3)
What does my credit score need to be?
680 Minimum FICO Score
How much can I borrow?
$50,000 - $520,000(7)
Who is considered a first-time homebuyer?
We consider a first-time homebuyer someone who has not owned a home in the last three years.
What down payment assistance is available?
Additional financing permitted with Housing Development Fund (HDF) Smartmove program, and other local grants.(4)
Apply now for a more personalized mortgage experience.
Follow the steps below to get started with your journey to homeownership!
Speak to one of our local mortgage lenders about your homebuying journey, so we can walk with you every step of the way.
SHOP FOR A NEW HOME
Let us introduce you to a local realtor, inspector, lawyer, and other professionals to find a home that fits your budget and needs.
PRE-APPROVAL
Find out how much home you can afford and get pre-qualified or pre-approved, so you can shop with a comfortable commitment letter in hand.
PURCHASE YOUR NEW HOME
Confidently open the door to your new home knowing you are closing and moving into your home with a team of local professionals who you know and trust.
Meet Your Mortgage Team
Apply Today!
Start with a team of mortgage experts by your side who are ready to support you before, during, and after you purchase your home.
(1) 30-Year Fixed-Rate. All borrowers must be first-time buyers not owning a home within the last three years.
(2) The $650 credit will appear on your Closing Disclosure. Loan must be secured by a first mortgage with Fairfield County Bank. Borrower is deemed qualified if they meet applicable underwriting standards, loan approval, and close on the loan with Fairfield County Bank. Only one credit permitted per new loan. Void where prohibited by law. The offer of credit is not contingent upon loan amount. Cannot be combined with any other offer. Offer may be withdrawn without prior notice. Not valid on Home Equity loans. Ask our mortgage experts for details.
(3) Discounted rates for qualified LMI Income borrowers (up to 80% Area Median Income) purchasing a property located in low or moderate income census tracts within Western CT (Bethel, Bridgewater, Brookfield, Danbury, Darien, Greenwich, New Canaan, New Fairfield, New Milford, Newtown, Norwalk, Redding, Ridgefield, Sherman, Stamford, Weston, Westport, Wilton) and Greater Bridgeport Planning Regions (Bridgeport, Easton, Fairfield, Monroe, Stratford, Trumbull). Visit https://geomap.ffiec.gov/ffiecgeomap/ to determine if the property address is in one of these census tracts.
(4) Subordinate Financing permitted with Housing Development Fund (HDF) Smartmove program, and other grants up to a CLTV of 105%. Other subordinate financing permitted provided Note terms and conditions are reviewed and approved prior to final underwriting by Fairfield County Bank. Maximum 95% CLTV.
Subordinate Financing of Downpayment funds can come from savings, gifts*, grants, or downpayment assistance funds**.
* Gift Donors include any relation to the borrower by blood, marriage, domestic partnership, adoption, or legal guardianship. This includes relatives of the borrower, former relatives, godparents, individuals engaged to be married to the borrower, children or other dependents.
** Local qualified grants, or Housing Development Funds (HDF) Smartmove or other qualified subordinated loan. Borrower must qualify for grants, HDF, or other subordinated loans with Fairfield County Bank first mortgage combined maximum financing terms.
(5) Lock in period of 60 days. Extended rate lock up to 100 days available. Ask our mortgage experts for details.
(6) Owner occupied, 1-4 Family Dwellings, and Condominiums.
(7) Loan Amounts
Minimum $50,000
Maximum per Area Income Limits: Refer to FFIEC.gov https://www.ffiec.gov/ or Fannie AMI: https://ami-lookup-tool.fanniemae.com/amilookuptool/
*MAXIMUM SALES PRICE IN FAIRFIELD COUNTY $650,000
*MAXIMUM SALES PRICE IN LITCHFIELD COUNTY $510,935
(8) Fairfield County Bank Insurance Services, LLC is a wholly-owned subsidiary of Fairfield County Bank. Insurance products are not deposits of or other obligations of, or guaranteed by, the Bank or an affiliate of the Bank, are not insured by the FDIC or any other agency of the United States, the Bank or an affiliate of the Bank and, in the case of an insurance product or annuity that involves investment risk, there is investment risk associated with the product, including the possible loss of value.