Housing Assistance’s Cape Community Real Estate Department is accepting applications for two affordable housing lotteries — one in Dennis and another in Yarmouth. This is a great opportunity for you to realize your dream of becoming a homeowner on Cape Cod.
Applicants must be first-time homebuyers, with certain exceptions; earn up to 80% of the Area Median Income (AMI) for Barnstable County; and must have no more than $75,000 in household assets. The home must also serve as your primary residence.
For questions on either of these lotteries, contact Gael Kelleher at email@example.com.
Dennis Affordable Home (New Construction)
Located at 549 Depot Street, this is a new affordable home being built in Dennis. This 3-bedroom, 2-bath home features a garage and is priced at $215,000. The home comes with an affordable deed restriction.
The deadline to apply for this home is Friday, May 15 at 5 pm. Click the button below for an application.
Yarmouth Buydown Program
Housing Assistance Corporation is collaborating with the Town of Yarmouth on a new buydown program to add affordable housing in the town. Eligible buyers will find a market rate home in Yarmouth, and then they can apply for a grant from the town that is applied to the purchase price of the home, bringing down the total cost to the buyer. The home would then be deed restricted, remaining at an affordable housing price upon resale.
There are two grants for up to 35 percent of the home price or up to $150,000, whichever is less. The town will award another grant of up to 35 percent of the home price or up to $100,000, whichever is less.
All applications should be submitted to Housing Assistance by Friday, May 1 at 5 pm.
A lottery will be held after that point to determine the three winners who will have the opportunity to purchase a market rate home in Yarmouth which could range from just over $300,000 to just under $420,000, depending on the number of bedrooms, the amount the buyer can afford, and the buydown grant awarded.