1st Time Homeowners Class in Medford; Affordable Condo Still Available
Affordable condo at Amaranth Place. Photo courtesy Erica Schwarz.
Medford is offering a 4-part class for first-time homebuyers in September to help simplify the process for prospective homeowners and that will also satisfy the requirements of many homebuyer assistance programs.
Learn about mortgages, the realtor and home inspection process, legal issues, property management, down payments, closing costs, and other important elements of buying a home.Â
The four sessions will be held every Wednesday in September (September 5, 12, 19, and 26)Â from 6-8PM at the South Medford Fire Station, Zero Medford Street.
A $60 registration fee covers the the cost of two adults. Click here for a registration form or contact Medford Housing Specialist Erica Schwarz at 781-393-3480 or eschwarz@medford.org or the North Suburban Consortium, c/o Malden Redevelopment Authority at 781-324-5720.
Affordable Condo Still Available at Amaranth Place
Medford Affordable Housing Specialist Erica Schwarz announced today that one of two affordable housing units in Amaranth Place is still available.
The unit, one bedroom with a large loft space on the top floor, will be sold to a low income, first-time homebuyer for $152,600 that can secure a 30-year fixed rate mortgage.Â
To qualify as low income, gross annual household income can’t exceed $46,300 for one person or $52,950 for two people. In addition, the housecold can’t have more than $50,000 in liquid assets after closing on the home.
First-time homebuyers are defined as not having an ownership interest in a residential property for the preceding three years, though there are some exceptions.
The buyer of this unit may apply for $5,000 in assistance for down payment and closing costs from the North Suburban HOME Consortium through Medford’s Community Development Office.
Interested buyers are encourged to contact consultant Valerie Johnson at Affordable Housing Clearinghouse for more information and to apply at VJohnson@ahcco.com or 617-248-0531.
Johnson will hold an Open House this Saturday from 11AM-1PM at 6 Amaranth Place in Unit #36. The unit can also be viewed by appointment.
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