05/15/2024
Welcome to Your New Affordable Home @1809 N 28th Street
This property is being sold to homebuyer(s) who meet the income requirements listed below. Your income
cannot exceed the maximum family income based on your family size. This income limit is in place to
encourage homeownership opportunities for lower-income individuals and families.
[80% AMI - Low-Income Limits - 2023]
Maximum Family Income
Family Size 1: 62,500 | Family Size 2: 71,400 | Family Size 3: 80,350 | Family Size 4: 89,250 | Family Size 5: 96,400 | Family Size 6: 103,500 | Family Size 7: 110,700 | Family Size 8: 117,850
You will be required to submit the following paperwork to verify your income:
1. Last two years of tax returns
2. One month of paystubs, if applicable
3. Social Security Award Letter/Pension Letter, if applicable
4. Driver’s License/State ID
5. Pre-Approval Mortgage Letter
These conditions are part of a restrictive covenant attached to this property that will help preserve this as
affordable housing for years to come. For a limited time, the restrictive covenant helps to preserve the promise of affordable home ownership for another family while allowing you to build equity in your new home.
What does this mean? If you plan to live here long term - there& ;s no impact (other than a great purchase
price)! If you purchase the property and decide to sell the property before 8/2/2043 you will need to sell it to an individual/family that meets the 80% income limit at the time of sale. You will not have a cap on the sales price, but the buyer will need to meet the income requirements. PHA will verify the income of the buyer to ensure the conditions of the covenant are met. The restrictive covenant also means that you cannot rent or lease the property while the covenant is in place.
We’ll be giving the buyer security cameras, a one-year home warranty, and a brand-new electronic front door lock as a move-in gift!
Listing by:
Devon Caudle
KW Empower
