Tuesday, November 11, 2014
SOMERVILLE AFFORDABLE TWO BEDROOM HOMEOWNERSHIP OPPORTUNITY - November 2014
The Mayor’s Office of Strategic Planning and Community Development is pleased to offer an affordable re-sale homeownership opportunity to income eligible first time homebuyer households with a minimum household of two people at 80% of Area Median Income.
65 Beacon Street Unit 204 is available for re-sale for $179,099. Located between Kirkland Village and Inman Square, this complex contains fifteen two-bedroom units. It includes underground garage parking, maple floors, marble counters, laundry, stainless steel appliances and central air. The condo fee is $124.90 a month.
Current Maximum Gross Annual Household Income
80% Median
2 People
3 People
Income
$54,200.00
$61,000.00
Eligibility Requirements
Purchasers must be income eligible first-time homebuyers with a minimum household of two people.
The unit must be used as the buyers’ primary residence.
All are welcomed to apply, however, applicants who live or work full-time in Somerville
will receive preference in the lottery.
Significant restrictions regarding the re-sale of the unit will apply.
Selected buyers must obtain appropriate conventional mortgage financing.
Buyers must participate in a first time homebuyer training class.
An Information Session will be held on Thursday, November 13th at 6 pm at the Central Branch Public Library at 79 Highland Avenue, First Floor Conference Room. Please RSVP at 617.625.6600 x 2577.
Kelly Donato
Director of Special Projects and Housing Counsel
50 Evergreen Avenue
Somerville, MA 02145
Phone 617-625-6600 x2560
Fax 617-666-8035
kdonato@somervillema.gov
65 Beacon Street Unit 204 is available for re-sale for $179,099. Located between Kirkland Village and Inman Square, this complex contains fifteen two-bedroom units. It includes underground garage parking, maple floors, marble counters, laundry, stainless steel appliances and central air. The condo fee is $124.90 a month.
Current Maximum Gross Annual Household Income
80% Median
2 People
3 People
Income
$54,200.00
$61,000.00
Eligibility Requirements
Purchasers must be income eligible first-time homebuyers with a minimum household of two people.
The unit must be used as the buyers’ primary residence.
All are welcomed to apply, however, applicants who live or work full-time in Somerville
will receive preference in the lottery.
Significant restrictions regarding the re-sale of the unit will apply.
Selected buyers must obtain appropriate conventional mortgage financing.
Buyers must participate in a first time homebuyer training class.
An Information Session will be held on Thursday, November 13th at 6 pm at the Central Branch Public Library at 79 Highland Avenue, First Floor Conference Room. Please RSVP at 617.625.6600 x 2577.
Kelly Donato
Director of Special Projects and Housing Counsel
50 Evergreen Avenue
Somerville, MA 02145
Phone 617-625-6600 x2560
Fax 617-666-8035
kdonato@somervillema.gov
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