3 bedroom house for sale

Overview

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

Welcome to Your New Affordable Home@1809 N 28th Street This is an exciting opportunity to preserve and maintain affordable housing in Philadelphia. With a sales price of $236, 000 and income limits in place, Philadelphia Housing Authority is ensuring this home will be sold at an affordable price to a low-income buyer. 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 - theres 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! For more details and to contact: https://realtyww.info/homes_philadelphia-d523146/for-sale_i71162388

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