The City of Springfield Office of Housing has partnered with the North End Housing Initiative, Inc., and their consultant NAI Plotkin to build two single family homes in the North End of Springfield. The construction of the homes has been funded by the City of Springfield as part of the U.S. Department of Housing and Urban Development (HUD) HOME Program (Home Investment Partnerships Program).
The homes are located at 111 Jefferson Avenue and 45 Bancroft Street. Each home contains 3 bedrooms, 2 1/2 bathrooms, has a front porch, rear deck, stainless steel appliances and 1st floor laundry hookup. Both houses cost approximately $300,000 each to build, are state of the art construction and built to the stretch energy code. Because the goal of the HOME Program is to produce affordable, sustainable housing, the homes will each be sold for approximately $200,000 (pending final appraisal).
In today's red-hot real estate market, this presents an incredible opportunity for an income-eligible family to purchase with a significant amount of equity from Day One. Because of this, we have decided to choose the ultimate purchasers through a lottery system.
HOW TO BE ELIGIBLE FOR THE LOTTERY & RESTRICTIONS
1. All applicants must have a household income less than 80% Area Median Income, as detailed below:
- 1 Person Household - Income may not exceed $47,150
- 2 Person Household - Income may not exceed $53,850
- 3 Person Household - Income may not exceed $60,600
- 4 Person Household - Income may not exceed $67,300
- 5 Person Household - Income may not exceed $72,700
- 6 Person Household - Income may not exceed $78,100
- 7 Person Household - Income may not exceed $83,500
- 8 Person Household - Income may not exceed $88,850
2. All applicants must be be pre-approved for a mortgage to cover purchase price and be able to provide proof of pre-approval.
3. All applicants will be required to provide documentation that demonstrates income and financing.
4. Final purchaser will need to agree to live in the house for a period of not less than fifteen (15) years.
HOW TO APPLY
APPLICATIONS ARE DUE TO THE OFFICE OF HOUSING BY 4:30 PM ON NOVEMBER 8, 2021. You may submit an application two ways:
1. Electronically using this link: https://www.cognitoforms.com/CityOfSpringfield1/CITYOFSPRINGFIELDHOMEBUYERLOTTERYAPPLICATION
2. In person to the City of Springfield, Office of Housing, 1600 East Columbus Avenue, Springfield, MA 01103
All questions regarding this opportunity should be directed to:
Maricely Vega, Intake Specialist
City of Springfield Office of Housing
1600 E. Columbus Avenue
Springfield, MA 01103