by Anonym ·
Monday, November 10, 2014
Anyone hoping to buy one of eight remaining affordable homes to be built at Trail Ridge on Littleton County Road must submit an application to Trail Ridge’s state-sanctioned lottery agent, the Sudbury Housing Trust, no later than Monday, Nov. 17, the Trust’s housing specialist Karen Margolis said this week.
“Applications for the lottery will be accepted through Nov. 17, 2014, at 1 p.m., but they must be complete at that time or they won’t be considered,” said Margolis. “It’s best to get well before then, so that if anything at all is missing the applicant will have time to make it complete.”
The lottery will determine the potential qualified buyers of the eight remaining affordable units to be built, three of which are restricted to those over the age of 55. Eligible applicants who live in Harvard, have children in Harvard’s public schools, or are Harvard public employees will have a better chance to own one of the homes.
Each unit will be part of a duplex; all have two bedrooms. The affordable units will sell for $172,000, a price set by the state’s Department of Housing and Community Development. They must be owner-occupied and at resale, must be sold to another eligible buyer at the affordable price set by DHCD.
Income limits are based on household size, where no more than 30 percent of a household’s income is spent on housing. For the units at Trail Ridge, gross income cannot exceed the following:
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One person: $44,750
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Two people: $51,150
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Three people: $57,550
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Four people: $ 63,900.
In general, the asset limit is $75,000 and the applicant must be a first-time homebuyer, with some exceptions: Applicants for an age-restricted unit can be homeowners, provided that household assets (including a house to be sold) do not exceed $275,000.
Applications are available at Town Hall and at the Harvard Public Library. They can also be downloaded from the town website, www.harvard.ma.us or from the Sudbury Housing Trust’s website, sudbury.ma.us/housingtrust. Those who need more information should call Karen Margolis at 978-639-3373.
Edited by Valerie Hurley based on information supplied by the Sudbury Housing Trust