Skip to content
Purchase Mortgage Loan
Get Pre-Approved

First-time home buyer programs in Derby, CT

Quick answer

First-time buyers in Derby, CT can use 3%-down conventional loans (up to the $851,000 Naugatuck Valley Planning Region conforming limit), 3.5%-down FHA, or VA and USDA where eligible, plus 1 verified city, county or statewide assistance program. On the $242,300 median home, 3% down is about $7,269 and the estimated payment is $2,247/month at 7.18%.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $76,263; value-to-income ratio 3.18. Derby ranks 23 by home value and 33 by population among 35 places in our CT dataset.

What does a first-time buyer loan cost on a typical Derby home?

ItemDerby
Median home value (Census ACS)$242,300
Connecticut median home value$343,200
Down payment (3%)$7,269
Loan amount$235,031
Estimated monthly payment (PITI + MI)$2,247
Income needed (28% / 36%)$97,000 / $75,000
Naugatuck Valley Planning Region 2026 conforming limit (1 unit)$851,000
Max purchase price at the limit$877,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes Connecticut's 1.92% effective property tax rate (Census ACS), $2,036/yr homeowners insurance (NAIC state average) and an estimated 0.5% PMI.

What is the 2026 conforming loan limit in Derby?

Derby is in Naugatuck Valley Planning Region. Conventional 3%-down loans go up to the $851,000 conforming limit (price ≈ $877,000); FHA loans go up to $541,287.

The Derby median home value of $242,300 is 29% below the Connecticut median, and within what the county limit supports.

Which down payment assistance programs can Derby buyers use?

First-time buyer loans in nearby cities

AnsoniaSheltonOrangeWest HavenMilfordTrumbull Center

First-time buyer loan FAQs for Derby

On the $242,300 median: 3% conventional ≈ $7,269, 3.5% FHA ≈ $8,481, and 0% for eligible VA or USDA buyers. Conventional loans above $851,000 in Naugatuck Valley Planning Region become jumbo loans.

At the $242,300 median value (below the Connecticut median of $343,200), the estimated payment of $2,247/month at 7.18% needs about $97,000 a year under the 28% housing guideline, or $75,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 1 statewide programs are verified for this city (1 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

Get matched with First-time buyer lenders in Derby

Answer a few quick questions and get matched with purchase mortgage lenders in your area. Free, and it won't affect your credit score.

Get My Matches

Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.