UNDER AGREEMENT - 40B- Condo in Turtle Crossing - This 40B apartment condo home has excellent features! This is a 2 bedroom, 2 bath unit with 1100 square feet of living space! Deeded parking space and a great location. It is income restricted and buyer will be chosen by lottery. Application deadline is 3/15/2021. Buyer must be a 1st time buyer. Application available at Mass Access site, HERE by clicking above on download application or by email - contact Missy & Ruth.
**FHA mortgages can not be used - must be a conventional loan or Mass Housing. Property flyer available above as well. 2 bedrooms, 2 baths, 1100 sq. ft., a deeded parking spot, and Turtle Crossing amenities.
Income Restrictions (maximums):
*Household cannot exceed the annual income of: 1 Person - $67,400 2 Person - $77,000 3 Person - $86,650 4 Person - $96,250
*Household cannot have more than $75,000 in assets.
*Applicants must be first-time homebuyers (have not owned a home in last 3 years). Exceptions include single parents, displaced homemakers, and applicants over age 55.
**SEE BELOW THE PHOTOS FOR CHAPA SELECTION PROCESS EXPLANATION**
**FHA mortgages can not be used - must be a conventional loan or Mass Housing. Property flyer available above as well. 2 bedrooms, 2 baths, 1100 sq. ft., a deeded parking spot, and Turtle Crossing amenities.
Income Restrictions (maximums):
*Household cannot exceed the annual income of: 1 Person - $67,400 2 Person - $77,000 3 Person - $86,650 4 Person - $96,250
*Household cannot have more than $75,000 in assets.
*Applicants must be first-time homebuyers (have not owned a home in last 3 years). Exceptions include single parents, displaced homemakers, and applicants over age 55.
**SEE BELOW THE PHOTOS FOR CHAPA SELECTION PROCESS EXPLANATION**
501 Commerce St Unit 3-204
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Chapter 40B Buyer Selection and Approval Process
Submitting Your Application:
Please submit the complete application via a secure electronic method. DO NOT SEND THE APPLICATION OR ANY FINANCIAL DOCUMENTS VIA REGULAR EMAIL ATTACHMENT. If you have any questions or encounter difficulties with submitting your application, please email or call (617) 701-7498.
Option 1: Upload the application and documents via Dropbox: https://www.dropbox.com/request/PmFhl62hW5GAbLYxVTsL
Option 2: A free secure email service is available at www.sendinc.com where you can email your application to dgasser@chapa.org.
Chapter 40B Buyer Selection and Approval Process
1. CHAPA, its Resale Consultant, or seller’s real estate agent will begin to advertise the property, making the Resale Application available to all interested households. Households should review the application and available materials to make sure they meet all eligibility criteria.
2. Interested households should work to submit a complete Resale Application as soon as possible. An application will be considered complete once all pages are filled out and all supporting documents are submitted. Applications must be submitted to the location listed on the Resale Application.
3. If more than one complete Resale Application is received within the first ten days of marketing, CHAPA will conduct a lottery to determine the order in which applications will be reviewed. All marketing materials, including the application, will clearly state the deadline for when complete applications will qualify for the lottery.
a. If only one complete application is received or no complete applications are received during the initial collection period, applications are then treated on a first-come, first-served basis for the remainder of the affordable marketing period.
4. Reasonable efforts will be made to notify applicants if an application submitted more than two days before the deadline is incomplete. CHAPA and/or its Resale Consultants cannot guarantee review of the applications before the deadline, so applicants are encouraged to thoroughly review their own application before submitting.
5. Once the initial collection period has ended, all complete applications will be assigned an identification number. CHAPA will conduct a lottery with all applications being ranked by the order in which they are drawn. No preference is given to any eligibility criteria; the selection is random. Applicants will be notified of their ranking.
6. CHAPA will review the first randomly drawn application first. If the applicant meets all eligibility criteria, the household will be approved to purchase the property and will be notified of their next steps. If the applicant is ineligible or decides not to move forward with purchase, CHAPA will then review the next-chosen application.
a. If CHAPA requests additional information or documentation from the applicant in order to verify their eligibility, the applicant will have 48 hours to respond. If the request is not met, CHAPA will move on to the next applicant.
b. If no eligible buyer is found during the lottery process, new applications will be reviewed on a first-come, first-served basis.
7. The property owner will be notified when CHAPA approves a buyer and the parties can proceed with the sale of the home: offer, purchase and sale agreement, inspections, etc.
If you have any questions, please contact David Gasser at (617) 701-7498 or dgasser@chapa.org.
Submitting Your Application:
Please submit the complete application via a secure electronic method. DO NOT SEND THE APPLICATION OR ANY FINANCIAL DOCUMENTS VIA REGULAR EMAIL ATTACHMENT. If you have any questions or encounter difficulties with submitting your application, please email or call (617) 701-7498.
Option 1: Upload the application and documents via Dropbox: https://www.dropbox.com/request/PmFhl62hW5GAbLYxVTsL
Option 2: A free secure email service is available at www.sendinc.com where you can email your application to dgasser@chapa.org.
Chapter 40B Buyer Selection and Approval Process
1. CHAPA, its Resale Consultant, or seller’s real estate agent will begin to advertise the property, making the Resale Application available to all interested households. Households should review the application and available materials to make sure they meet all eligibility criteria.
2. Interested households should work to submit a complete Resale Application as soon as possible. An application will be considered complete once all pages are filled out and all supporting documents are submitted. Applications must be submitted to the location listed on the Resale Application.
3. If more than one complete Resale Application is received within the first ten days of marketing, CHAPA will conduct a lottery to determine the order in which applications will be reviewed. All marketing materials, including the application, will clearly state the deadline for when complete applications will qualify for the lottery.
a. If only one complete application is received or no complete applications are received during the initial collection period, applications are then treated on a first-come, first-served basis for the remainder of the affordable marketing period.
4. Reasonable efforts will be made to notify applicants if an application submitted more than two days before the deadline is incomplete. CHAPA and/or its Resale Consultants cannot guarantee review of the applications before the deadline, so applicants are encouraged to thoroughly review their own application before submitting.
5. Once the initial collection period has ended, all complete applications will be assigned an identification number. CHAPA will conduct a lottery with all applications being ranked by the order in which they are drawn. No preference is given to any eligibility criteria; the selection is random. Applicants will be notified of their ranking.
6. CHAPA will review the first randomly drawn application first. If the applicant meets all eligibility criteria, the household will be approved to purchase the property and will be notified of their next steps. If the applicant is ineligible or decides not to move forward with purchase, CHAPA will then review the next-chosen application.
a. If CHAPA requests additional information or documentation from the applicant in order to verify their eligibility, the applicant will have 48 hours to respond. If the request is not met, CHAPA will move on to the next applicant.
b. If no eligible buyer is found during the lottery process, new applications will be reviewed on a first-come, first-served basis.
7. The property owner will be notified when CHAPA approves a buyer and the parties can proceed with the sale of the home: offer, purchase and sale agreement, inspections, etc.
If you have any questions, please contact David Gasser at (617) 701-7498 or dgasser@chapa.org.