Skip to Content

Thomaston Savings Bank App Icon

Thomaston Savings Bank App

Available on the Google Play Store


First-Time Homebuyer Programs Built
for Where You Want to Live

First-Time Homebuyer

Available for individuals purchasing in designated low- and moderate-income census tracts areas within these communities.1

  • Bristol
  • New Britain
  • Plainville
  • Torrington
  • Waterbury
  • West Hartford
  • Winsted

First-Time Homebuyer Plus

Available for low- and moderate-income individuals purchasing homes in any of the Bank's communities.1 Income limits apply.2

  • Avon
  • Bethlehem
  • Bristol
  • Burlington
  • Canton
  • Farmington
  • Harwinton
  • Litchfield
  • Middlebury
  • Morris
  • Naugatuck
  • New Britain
  • New Hartford
  • Plainville
  • Plymouth
  • Prospect
  • Southington
  • Thomaston
  • Torrington
  • Waterbury
  • Watertown
  • West Hartford
  • Winsted
  • Wolcott
  • Woodbury


A visual map showing the towns in Connecticut where Thomaston Savings Bank offers a First Time Home Buyer program

Program Highlights

Low down payment. The program offers a 3% minimum down payment, which is much lower than the 20% down payment that is typically required for a conventional mortgage.

Down Payment Assistance Program: Available to be used with First-Time Homebuyer and First-Time Homebuyer Plus Programs for up to 3% of your home's financing. 

No private mortgage insurance (PMI). Since this loan does not require PMI, you can save hundreds of dollars each month.

Rebate of full appraisal fee at closing. Get back your full appraisal fee at closing.

Reduced interest rate. Receive a reduced interest rate .25% below our current rate on your mortgage to save you even more on your monthly payments.

Alternative credit underwriting: Non-traditional sources, like rent payments or utility bills, can be used to assess creditworthiness if your credit report is limited or unavailable.

Program Details

  • $350,000 maximum loan amount
  • Owner-occupied, 1-4 family and condos
  • Various fixed-rate options are available
  • No pre-payment penalty
  • No balloon payment
  • Homebuyer education program required
  • Property must be located in a designated census tract, or the homebuyer must be a low- and moderate-income individual purchasing a home in any of the Bank's communities.
  • All borrowers must occupy the property.

Alternate Credit Underwriting:

  • Employed: One-year employment history
  • Self-employed: Two years of steady income
  • Credit History: Utility bills and rent payments 
A mother and father holding their newborn baby and smiling

What Should You Know as a First-Time Homebuyer?

Learn the basics of buying your first home.


ifi University logo

Meet the Team

Contact one of our mortgage loan officers today.

Headshot of Jason Alldredge

Jason Alldredge

NMLS ID 457926
Work: 860-283-3441
Mobile: 203-558-0290

Headshot of Vania Guerrera

Vania Guerrera

NMLS ID 457927
Work: 860-283-3487
Mobile: 203-525-0364

Headshot of Bob Frazee

Bob Frazee

NMLS ID ​103851
Work: 860-283-34​06
Mobile: 860-559-0353

Headshot of Kate Crovo

Kate Crovo

NMLS ID ​882254
Work: 860-283-3610
Mobile: 860-307-0371

Headshot of Russel Baboff

Russell Baboff

NMLS ID ​1014636
Work: 860-283-3688
Mobile: 860-463-1745

Headshot of Peter Aylward

Peter Aylward

NMLS ID ​106105
Work: 860-283-3681
Mobile: 203-685-9550

Ready to Get Started?

Fill out the form below to get in touch and find out more about our First-Time Homebuyer Programs.

Please do not enter any confidential or personally identifiable information on this form.

1Contact your loan officer for details.
280% area median income limits apply. The United States Department of Housing and Urban Development (HUD) calculates AMI for each geographic region in the country by using data from the US Census-based American Community Survey. A household's income is calculated by its gross income, which is the total income received before taxes and other payroll deductions.

16 Convenient Locations Throughout Connecticut: