New construction affordable Twin Homes for sale! Nestled in the Owl Creek neighborhood located in Southeast Madison. Each twin home unit features 2 bedrooms plus a study, 1.5 bathrooms, and 1 car garage. Each twin home unit will have a small covered porch, and green space next to the garage which can be a private garden or converted into a patio. Great Gray Drive Twin Homes are conveniently situated within walking distance of the Owl Creek neighborhood park and are located on the bus line. There are 4 available units, with construction beginning in Summer 2024, and completion expected by Summer 2025.
Listing Price: $ 235,000
2 bed, plus Study, 1.5 bath, 1 car garage 1,199 sqf
2-story, Twin home, Shared Wall
More information and photos HERE
- Your first step in determining your eligibility to buy this home is to submit a pre-application.
- By 11:59 pm CT on Friday, May 3rd, interested prospective buyers must submit a pre-application, a mortgage pre-approval with a MACLT-approved lender, and an Intent to Purchase to be eligible to buy the home. The Intent to Purchase form will be available online for submissions from April 24, 2024 to May 3, 2024. If you are interested in buying one of these homes, all materials must be submitted to MACLT with the Intent to Purchase by 11:59 pm on Friday, May 3.
- Buyers must also attend a buyer orientation (see below) with MACLT if they haven’t already. The buyer will be selected based on MACLT’s applicant selection policy and eligibility criteria.
ELIGIBILITY CRITERIA FOR THESE HOMES
- Household income must be below 80% county median income (see table)
- You must not own other property at the time of closing
- The maximum amount of “liquid assets” that you can have in reserves after closing cannot exceed the equivalent of twelve months of Principal, Interest, Taxes, Insurance and lease fees
- Submit a program pre-application to determine eligibility
- Attend an MACLT orientation with staff
- Be pre-approved for a mortgage at the value of the house available, with necessary down-payment or down-payment assistance
- Attend a HUD-certified homeowner education workshop (completion certificate valid for 18 months) See here for a schedule of courses.
- To review the City of Madison’s full income and asset guidelines CLICK HERE
UPCOMING MACLT ORIENTATIONS
Wednesday, April 24th 5:30-6:30 pm CT (virtual) Register for the meeting here.
Thursday, April 25th, 12noon-1:00 pm CT (virtual) Register for the meeting here.
The MACLT orientation will review the Madison Area Community Land Trust program, which you can additionally learn more about at our website (www.maclt.org).
For full advertisement visit: https://maclt.org/wp-content/uploads/2024/04/Great-Gray-Drive-Full-Advertisement-Updated-4.9.2024.pdf
Haga clic aquí para ver el anuncio completo en español:https://maclt.org/wp-content/uploads/2024/04/Spanish-Ad-Great-Gray-Drive.pdf