Up to $10,000 for Home Repairs/Improvements
What this fund can help with
- Emergency home repairs tied to health and safety, such as plumbing, heating, electrical, or roof leaks.
- Energy-efficiency upgrades, such as insulation, efficient heating and cooling, and window replacements.
- Major appliances needed for safe, stable housing, such as a stove, refrigerator, washer, or dryer. Pending Loan Committee approval.
- Code compliance repairs for safety or habitability.
- Accessibility improvements, such as ramps or grab bars.
Who this is for
BNT’s Housing Stability Loan Fund is for Connecticut homeowners, who need help covering an urgent expense and stay secure in their homes.
First come, first served. Funding is limited and committed only while funds remain available.
Eligibility checklist
A household may be eligible if all of the following are true:
- Applicant is 18 or older
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Mortgage is in good standing (not delinquent)
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Household income is at or below 120% of Area Median Income (see chart below)
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Debt to income is generally 48% or less (BNT will review the full picture)
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No active bankruptcy, no foreclosure, and no outstanding liens or judgments
- Attend housing counseling session to review request and determine eligibility
Loan terms
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Loan amount: from $2,000 to $10,000 per household
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Interest rate: 6% fixed
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Repayment term: $50 minimum monthly payment up to five years; no prepayment penalty
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Fees: Application fee: $50; Credit Report fee: $25
Ready to start?
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Complete application
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Meet with a HUD certified counselor to review your situation and confirm basic eligibility
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Prequalification review. During the first session, we will review your need, your budget, your ability to repay.
- Submit complete supporting documents (see required documents below). If your request involves a repair or purchase, we will typically need a written estimate or invoice.
- Final review and decision. After we receive a complete application package, we will make a final decision and, if approved, move to closing.
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Documents you will need
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Proof you own and live in the home
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Photo ID
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Proof of income and monthly expenses
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Recent bank statements
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Most recent tax return
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Homeowners insurance information
- A written estimate or invoice for the repair or purchase
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Any additional documents needed to confirm eligibility
Important note: Submitting an intake request does not guarantee approval. Loan approval is based on eligibility, documentation, and ability to repay.
You may also call us at 203-290-4255
FAQ
- Is this a grant?
No. This is a loan that must be repaid. - Is there a minimum credit score?
No. BNT does not require a minimum credit score and reviews the full situation. - Do I need to be current on my mortgage to qualify?
Yes, the mortgage must be in good standing. - Do renters qualify?
No, this fund is for owner occupied homeowners. - What if I am in bankruptcy or foreclosure?
Those situations are not eligible under these guidelines. - What defines income eligibility? Income eligibility is based on 120% of Area Median Income (AMI) using the CT Department of Housing income limits pasted in below. AMI varies by Planning Region, so use the highlighted 120% AMI (HTF) corresponding to your town’s Planning Region and household size.
- Are 2 to 4 unit owner occupied homes eligible, or only single family? Both 2 to 4 unit owner and single family owner occupied homes are eligible
- Are there any other excluded uses? Funds cannot be used for debt consolidation, non emergency spending, and past due consumer debt
- How quickly will I know if I qualify? We aim to determine prequalification in your first counseling session. If prequalified, we aim to make a decision within a few weeks, based on volume and available funds.
Fair Housing and Equal Opportunity
BNT is committed to fair housing and equal opportunity. We do not discriminate in any program or service, including the Housing Stability Loan Fund, based on race, color, religion, national origin or ancestry, sex, sexual orientation, gender identity or expression, age, marital status, familial status, disability, lawful source of income (including housing subsidies), veteran status, or status as a victim of domestic violence. We serve eligible Connecticut residents without regard to these characteristics.