design... The efficient layout of the homes, combined with a state of the art building envelope will result in unusually low utility costs. Durable, high quality finish materials will pay long term dividends for owners. These details cost more upfront, but our investment in something that is truly affordable for its occupants is important to us.
great financing available... We have partnered with Key Bank and long time local mortgage expert Mark Erickson to offer a variety of excellent financing options. In particular, the Key Community Mortgage program provides some unique benefits to qualified purchasers.. Here are just a few of the benefits of this great community program, taken from Key’s website:
- Low down payments that can come in the form of a gift, grant, or a secured or unsecured loan
- Flexible underwriting guidelines
- Finance all or part of your points and closing costs as part of your loan
- Flexible terms
- Private Mortgage Insurance (PMI) is not required
Contact us for a no-obligation referral to a Key lending specialist.
affordable housing discounts... We are proud to be the first private, for-sale community to make use of South Burlington's progressive zoning ordinance which encourages production of affordable housing for-sale. In doing so, we have worked with the City to create a community that is affordable by design, not by public subsidy.
Three of the seven homes will be sold at a significant discount of between $15,000 and $20,000 each (depending on unit size). To qualify, you must have adjusted gross income of less than $60,000 per year. In return for this discount, the buyer agrees to resell the homes to buyers in a similar income range (at or below 80% of area median income).
Unlike Land Trust or other local affordable housing models, no public subsidy is being used to offer these discounts. The buyer keeps 100% of the profit on resale. You do not need to be a first-time buyer to qualify.
Contact us for more details.
|