Hartford Foundation Announces $600K Homeownership Grant
The fund provides assistance to people of color who are first-time homebuyers.
The grant allows HDF to provide zero-percent loans and closing costs for up to 35 BIPOC households in Greater Hartford.
“We are so grateful for this award from the Hartford Foundation for Public Giving and cannot wait to put these funds to work for new homebuyers in the Hartford area,” said fund president and CEO Kiley Gosselin.
The foundation works increase the number of Hartford residents living in higher opportunity neighborhoods and address structural racism.
The grant includes $100,000 in collaboration with foundation donors through their donor-advised funds, including investments from the Beatrice Fox Auerbach Foundation Fund, Elizabeth Schiro, and the Jackson-Batchelder Family Fund.
According to the Greater Hartford Community Wellbeing Index 2023, homeownership rates among white households are 77%.
Homeownership rates for Black households are 42% with Latino households at 32%.
“We know that home ownership and high-quality affordable rental housing are pathways to wealth and well-being,” said foundation vice president Elysa Gordon.
“This fund contributes to dismantling the barriers to Black and Latino homeownership and building a new legacy of inclusive opportunity in Greater Hartford.”
Path to Homeownership
As a HUD-certified counseling agency, HDF also provides free homeownership counseling and education.
To participate, households must earn 80% or less of the area median income.
“With the purchase of my house, I can provide my family with long-term financial security,” said Lisa, a Black single mother who received assistance from HDF.
“It also allows my daughter, my mother and me to remain in one place for years so we can build long-lasting relationships with our neighbors.”
Since HDF launched the fund in July 2022, 66 households have received support, including 12 in the Greater Hartford area.
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