In the coming months, several new affordable homes being constructed in Falmouth will be available for purchase. “People should start looking to take our First-Time Homebuyers class, start saving money and not incurring any new debt, and increasing their credit score,” said Housing Assistance Director of Real Estate Gael Kelleher.
Housing Assistance will be overseeing the lotteries for the new homes which are for first-time homebuyers, with certain exceptions, who earn no more than 80 percent of the Area Median Income (AMI) for Barnstable County and have no more than $75,000 in household assets.
“You only need a small down payment for these,” Kelleher advised. “A lot of people think you need to put down 20 percent, but you need as little as 3 percent. Of that, only 1.5 percent has to be your own money so the other could come from someone else as a gift.”
Interested applicants should make sure to sign up for our First-Time Homebuyers workshop online, and regularly check our Cape Community Real Estate page for new listings and details on upcoming lotteries.