Affordable Housing Lottery in Medford MA - West Medford Home

Medford Square, Medford Massachusetts, April 2010Image via Wikipedia

(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 :

"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 : . Applications must be filed completely by 11am EST on Friday, July 15th, 2011 for consideration. Incomplete applications will not be considered.

Income Guidelines:
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.
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