Tha ADDI program administered by Eastern Connecticut Housing Opportunities has been helping prospective home buyers in New London County. The program is making $10,000.00 -$25,000.00 available to borrowers that need assistance with downpayment and closing costs. If the borrower stays in the home for 5 years the ADDI grant is forgiven. If they sell before the 5 year timeframe, 20% per year is forgiven. Sally Williams at the ECHO office is working hard to make sure that prospective homebuyers understan the process and is helping the lenders make the program work. Sally can be reached at (860) 447-8055 to obtain more details.
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