Current Sharon Housing Trust News
Sharon Housing Trust Announces New Affordable Home Project
The Sharon Housing Trust has acquired a 4.14 acre property on Low Road with much sought after views of the protected Twin Oaks Field. It plans to build a 1444 square foot, three bedrooms, two bath Cape style home on two floors with a garage, a walk out basement, and large rear deck. The cost will be about $150,000-$175,000. Melinda Sweet, president of the trust , said that they are looking for a qualified buyer before construction begins so the buyer can have input into the design and finishing of the house, and possibly reduce the price by contributing labor to the project.
The trust can also help qualified buyers access special low interest mortgages , as well as $10,000 to $30,000 in low or no- interest down payment mortgages . For example, the Live Where You Work Fund offers 30 year 0% interest loans to income eligible borrowers who purchase houses in the town where they work. There are also special finance help programs for first time home owners. In addition, the trust can offer help in qualifying for a mortgage through the Housing Development Fund which counsels applicants who may have credit score issues. Applicants may be able to improve their credit rating to qualify for a mortgage by the spring of 2013 when the trust plans to begin building.
Ms. Sweet explained who qualifies, - Households (those persons living in the home and contributing income) who have a total household income of no more than $100,000 and can qualify for a mortgage are eligible. She said “This is a great opportunity to purchase an affordable house. A perfect confluence of low price, low interest rates, available grant money, a spectacular site, and lovely home design. Financial and real estate experts (including Warren Buffet) agree that this is a unique time for home buyers. They also agree that this will not be the case in five years.” For contact information or an application Ms. Sweet suggested going to the trust website: sharonhousingtrust.org. or calling Sharon Tingley at 860-364-5321.
The Sharon Housing Trust has acquired a 4.14 acre property on Low Road with much sought after views of the protected Twin Oaks Field. It plans to build a 1444 square foot, three bedrooms, two bath Cape style home on two floors with a garage, a walk out basement, and large rear deck. The cost will be about $150,000-$175,000. Melinda Sweet, president of the trust , said that they are looking for a qualified buyer before construction begins so the buyer can have input into the design and finishing of the house, and possibly reduce the price by contributing labor to the project.
The trust can also help qualified buyers access special low interest mortgages , as well as $10,000 to $30,000 in low or no- interest down payment mortgages . For example, the Live Where You Work Fund offers 30 year 0% interest loans to income eligible borrowers who purchase houses in the town where they work. There are also special finance help programs for first time home owners. In addition, the trust can offer help in qualifying for a mortgage through the Housing Development Fund which counsels applicants who may have credit score issues. Applicants may be able to improve their credit rating to qualify for a mortgage by the spring of 2013 when the trust plans to begin building.
Ms. Sweet explained who qualifies, - Households (those persons living in the home and contributing income) who have a total household income of no more than $100,000 and can qualify for a mortgage are eligible. She said “This is a great opportunity to purchase an affordable house. A perfect confluence of low price, low interest rates, available grant money, a spectacular site, and lovely home design. Financial and real estate experts (including Warren Buffet) agree that this is a unique time for home buyers. They also agree that this will not be the case in five years.” For contact information or an application Ms. Sweet suggested going to the trust website: sharonhousingtrust.org. or calling Sharon Tingley at 860-364-5321.
