Blanca Alvar…, Home Buyer in Wellesley Hills, MA

What are the requierements to buy this unit?

Asked by Blanca Alvarez, Wellesley Hills, MA Wed Jan 13, 2010

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This question is about this property: http://www.trulia.com/property/1069556705-8-Village-Rock-Ln-…

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4
Lucille Bouc…, Agent, Framingham, MA
Wed Jan 13, 2010
Heidi answered correctly - the only addendum to that answer is that you must apply for the affordable housing unit with the Town of Natick and fit their income guidelines. Also - if you buy a housing unit that has been designated as 'affordable housing' - if you choose to sell it at some time in the future - the unit remains classified as affordable and can only be sold within the pricing guidelines set at that time. Good luck in your home search.
0 votes
Heidi Zizza, Agent, Framingham, MA
Wed Jan 13, 2010
In answer to question #2 they need to be sure you can make the payments after you purchase the property.
Web Reference:  http://www.mdmrealtyinc.com
0 votes
Heidi Zizza, Agent, Framingham, MA
Wed Jan 13, 2010
Hi Blanca, Well first you will need to get pre-qualified by the mortgage lender running this program. you need only 3% deposit and there is no pmi. You must be a 1st time buyer and you cannot exceed certain income levels. If you are a one person household you cannot make more than 46,300 if you are a two person household you cannot make more than 52,950. They also have special assistance if you do not have the 3% deposit. Please give me a call if you would like to see them!
Heidi Zizza
mdm realty
(508) 277-2032


Here is the link to the guidelines
http://www.natickaffordable.com/requirements.asp
Web Reference:  http://www.mdmrealtyinc.com
0 votes
Blanca Alvar…, Home Buyer, Wellesley Hills, MA
Wed Jan 13, 2010
What do I need to get aproval to buy this unit?
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