SMARTMOVE HOMEOWNERSHIP PROGRAM (view this page in spanish)
The SmartMove Homeownership fund enables homebuyers to purchase homes in southwestern Connecticut. For qualified borrowers, SmartMove provides low-interest (3%, APR = 3.42% to 4.74%) 20-year second mortgages of up to 20% of the purchase price. SmartMove borrowers do not have to pay for mortgage insurance and also benefit from lower mortgage payments. Borrowers can put down as little as 1% of the purchase price towards the purchase of their home. There is a $2,000-$2,500 service fee for SmartMove borrowers. This fee is not included in the loan amount and will be added to closing costs.
Participating Banks
In order to be approved for a SmartMove loan, you will have to get your first mortgage from one of our participating banks. You may choose any of the following banks. Please call the contact person listed below since they are familiar with the SmartMove program.
- CitiBank
Mike Bodnar 203.274.1600
John Dineen 203.858.5078
- First County Bank
Gottrell McLellan 203.462.4344
- Fairfield County Bank
Kevin McMahon 203.854.7617
- Newtown Savings Bank
Laura Manz 800.461.0672
- Naugatuck Savings Bank
Bob Coulombe 203.720.5363
- The Milford Bank
Nancy Fay 203.783.5713
- Savings Bank of Danbury
Michelle Grull 203.797.2639
(Danbury Contact)
Al Peņa (speaks Spanish) 203.778.7409
(Danbury Contact)
- People's United Bank
Terence Floyd 860.922.5983
- Union Savings Bank
203.830.4800
- Hudson City Savings Bank
Ralph Weeks 201.967.1900 Ext. 1352
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