Affordable Housing Condo Lottery Slated for October 10
Located off Countryside Lane in Bellingham, Pine Hollow Estates is a new 36-unit development offering 4 two-bedroom townhomes, by lottery, to eligible first-time homebuyers.
Each two-bedroom unit includes 2 baths and a two-car garage in approximately 1800 sq. ft. of living space, and is equipped with a stove/oven, microwave, and refrigerator, as well as hookups for a washer and dryer. The maximum sale price per unit is $238,450. The 2019 tax rate is $14.21 per thousand and the monthly condo fee is estimated at $100 per month.
Each two-bedroom unit includes 2 baths and a two-car garage in approximately 1800 sq. ft. of living space, and is equipped with a stove/oven, microwave, and refrigerator, as well as hookups for a washer and dryer. The maximum sale price per unit is $238,450. The 2019 tax rate is $14.21 per thousand and the monthly condo fee is estimated at $100 per month.
Eligibility Criteria includes the following: 1. Must be a first-time homebuyer (some exceptions apply); 2. Asset limit to $75,0003; Gross Household Income Limits—1 person, $62,450; 2 person, $71,400; 3 person, $80,300; 4 person, $89,200.
A Public Information Meeting will be held on Tuesday, Sept. 10, at 6:30 pm, in the Arcand Meeting Room of the Bellingham Municipal Center to answer specific questions and provide an overview of the process. (If you cannot attend this meeting, Information is available online at https://www.bellinghamma.org/sites/bellinghamma/files/news/pine_hollow_application_packet.pdf; or you can call MCO Housing Services at 978-456-8388 or email [email protected] with any questions.)
Applications are available online at https://www.bellinghamma.org/sites/bellinghamma/files/news/pine_hollow_application_packet.pdf.
All applications must include a mortgage pre-approval letter, from an institutional lender familiar with affordable deed restrictions, and complete financial documentation with the application. The application will be considered for the lottery if received with all required documentation and a mortgage pre-approval on or before the application deadline; FHA and VA loans are not accepted. An incomplete application will not be included in the lottery.
All applications must include a mortgage pre-approval letter, from an institutional lender familiar with affordable deed restrictions, and complete financial documentation with the application. The application will be considered for the lottery if received with all required documentation and a mortgage pre-approval on or before the application deadline; FHA and VA loans are not accepted. An incomplete application will not be included in the lottery.
Applicants may drop off their application MCO Housing’s Harvard office, where it will be reviewed while you wait. We will let you know if you are missing any documentation, so you would have time prior to the deadline to provide it.
Applications may also be mailed to MCO Housing Services, P.O. Box 372, Harvard, MA 01451.
The application deadline is Thursday, October 3, and all complete applications must be postmarked before that date in order to be included in the lottery, which will be held on Thursday, October 10, 2019 at 6:00 p.m. in the in the Arcand Meeting Room of the Bellingham Municipal Center.
