Cape Cod Affordable Housing - New Lottery in Falmouth MA 2018
Do you want to live in Falmouth MA, but don't have a lot of income? Maybe you could win the housing lottery for 72 Deer Pond Road, in East Falmouth. It is a brand new home that some fortunate owner will be able to buy at a lower than average cost!
If you want to have a shot in this affordable housing lottery, visit the Falmouth Housing Trust website and apply to be a part of the lottery. There is an information session for this lottery on 12-4-18 (December 4, 2018) at 6 pm at the Downtown Falmouth Library Branch. Many questions will be answered there. The home that is in the current lottery is: Price: 1 Brand New Home $195,000 Description: 3 bedroom, 2 baths. 72 Deer Pond Road, East Falmouth
The Falmouth Housing Trust is an independent non-profit, 501(c)3, organization that works in conjunction with local agencies and Town government. The Trust Board is independent of the Town of Falmouth, but does work with the boards of the Town to achieve the goals and objectives of the Trust. The Falmouth Housing Trust's goal is to promote individual home-ownership for persons of low to moderate income for the Town of Falmouth, and its surrounding areas.
Affordable Housing, according to the U.S. Department of Housing & Urban Development (HUD), is housing for which the occupants spend no more than 30% of annual income for gross housing costs. Housing costs include rent, mortgage payments, homeowner’s association fees, utility and heating costs, property and renter’s insurance, taxes, etc. The Area Median Income for the Cape is approximately:
Household Size 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
80% of AMI $48,300 $55,200 $62,100 $68,950 $74,500 $80,000 $84,350 $89,800
You can also call 508-771-5400 ext. 284 , or email ccre @ haconcapecod.org . The online application form for the Falmouth Housing Trust Lottery can be found here. (or copy and paste http://www.falmouthhousingtrust.org/wp-content/uploads/deer-pond-application-for-lottery.pdf ) The application deadline for this lottery is 5:00 PM January 18, 2019. All applications must be returned to Housing Assistance Corporation, 460 W. Main Street, Hyannis, MA 02601.
Eligibility: Eligible applicants are First Time Homebuyers* who can get a mortgage for the price of the home. That buyers household income must be at or below 80% of the Area Median Income for Barnstable County. Also, their assets must be no more than $75,000. (There are some exceptions to what a First Time Homebuyer is - so call and ask.)
This will work for somebody!