NEW HAVEN, Conn. (WTNH) – Hundreds of people in New Haven could be eligible for financial assistance through the city’s new “I’m Home” initiative.

The program is set to help renters and homeowners in need of affordable housing.                

Tatania Sellers said that days after giving birth to her third child, she was struggling to pay her security deposit worth two months’ rent.

“I’m a single mother, so that was very nerve-racking because I had to try to find a place for me and my kids, and I didn’t really want to go into the shelter,” Sellers said.

She turned to the city to help her pay. Now, Sellers is the first New Haven resident to benefit from the new Initiative.

“It makes me emotional for me to come here and for them to actually sit down and help me,” Sellers said.

I’m Home is two-fold. The Security Deposit Assistance Program helps eligible tenants with two months’ security deposits up to $5,000.

New Haven Mayor Justin Elicker said city leaders secured $3 million in federal funding to support 600 renters.

“This will help those residents have enough funding to cover their security deposit, and also, there’s additional available funding for utilities,” Elicker said.

The Down Payment and Closing Cost Assistance Program supports up to 40 first-time eligible homeowners. They could receive up to $25,000 to help them build equity.

“Everyone knows that having a safe, warm, clean quality home helps you thrive,” Elicker said.

To learn whether you qualify and how to apply, click here.