Affordable Housing Lottery in Medford MA - West Medford Home
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(Medford, MA) The city of Medford, MA announced that there is an affordable housing unit that is available through their Affordable Housing Lottery Program.
From the City of Medford website www.Medford.org :
"This is a resale of an affordable unit built in 2005, it has had 1 owner during that time. The unit has a total of 5 rooms including 3 bedrooms and 1.5 baths, a living room and kitchen. The square footage of the finished living area is aprox. 1100 sq./ft. The purchase price of the affordable unit is $175,000. The purchase of the unit must occur no later than August 30th, 2011."
The unit is located at 122 Sharon St. Medford, MA 02155. There are income & asset requirements and limits. A direct link to the city page with all the details is : http://www.medford.org/Pages/MedfordMA_News/03137644-000F8513 . Applications must be filed completely by 11am EST on Friday, July 15th, 2011 for consideration. Incomplete applications will not be considered.
Household income must be less than 80% of the median household income adjusted for household size. They are:
Household of 2 - $51,400
Household of 3 - $57,800
Household of 4 - $64,200
A minimum deposit of $500 is to accompany all offers. Earnest money deposit shall be a minimum of 3% of which at least 1.5% must be from the buyers own funds.
Additional guidelines & forms available directly on the site above. Good luck to those interested in these properties.