Photo: Belmont’s first-time homebuyers assistance program.
Belmont’s Housing Trust has created a First-Time Homebuyer Assistance Program (HAP) to help low- and moderate-income families purchase homes in town. The HAP program will help participants purchase a condominium, single-family or two-family home.
Three eligible households, picked by lottery, will receive financial assistance using Community Preservation Act (CPA) funding to purchase homes with a maximum sales price of:
- $289,300 for a one-bedroom,
- $341,000 for a two-bedroom, or
- $362,600 for a three-bedroom unit.
There are income limits: for example:
- a two-person household can have income up to $55,800.
- a four-person household can have income up to $69,700.
And buyers must agree to a long-term deed restriction on the property purchased, to keep it affordable for future purchasers.
There will be informational meetings on Thursday, April 30, at 7 p.m. and Saturday, June 6 at 10 a.m. at the Belmont Public Library, Flett Room.
Applications are due by June 15, and lottery will be held on June 23.