$173,260 subsidized sales price
53-55 Park Ave. Monticello NY 12701
11 Balsam Drive Liberty NY 12754
24 Mager Ave Liberty NY 12754
3-bedroom 2 bath 1164 Square feet Single Family Homes
The Sullivan County Landbank is offering three newly constructed modular homes to eligible buyers at reduced subsidized sales prices. Construction should complete by November 1, 2021. Household income eligibility, affordability and other requirements and restrictions will apply
Heating and Air Conditioning System- Electric Hyper Heat Pump system
Ceramic tile bath floors
Luxury vinyl plank flooring throughout
Washer dryer hook up
Oak kitchen cabinets with island and laminate countertops
One panel fixed rear French doors
Stainless steel Energy Star Appliances – electric stove, refrigerator & dishwasher
Energy efficient lighting
Exceeds NYS new construction insulation energy code
8X10 rear deck
Covered front porch
Lifetime architectural shingle roofing
Public sewer and water
55-55 Park Ave Monticello .22 acres
11 Balsam Drive Liberty .43 acres
24 Mager Ave Liberty .25 acres
Subsidy Liens- Homes will be sold with large construction subsidies as second and third liens on the home from the Enterprise Foundation and the NYS Affordable Housing Corporation. These subsidies allow the Land Bank to offer these homes at a reduced market price.
Terms-Buyers will be required to live in the home for 10 years as their primary residence and the subsidies will be forgiven. If selling or otherwise no longer living in the home for less than 10 years, some or all the subsidy will be required to be paid back.
Gross household income Limits- To qualify your household gross income from all household members, before taxes, must be at or below the following limits based on family size- subject to change without notice
|Gross Household Income||$40,250||$46,000||$51,750||$57,450||$62,050||$66,650||$71,250||$75,850|
Primary Loan- Buyers must secure an affordable fixed rate, minimum 30 year, Conventional, SONYMA, USDA or other Portfolio mortgage product and have enough funds to complete the transaction. All loans must be with lenders that provide an escrow for property taxes and homeowner’s insurance in the payment and are subject to affordability ratios. FHA loans are not eligible.
Required Counseling- Buyers must complete a housing counseling session with RUPCO Inc. and provide documentation to verify eligibility for subsidies. The counselor will help you decide what type of loan product may best fit your financial profile and provide referrals to lenders. Additional grant opportunities to help you further may also be discussed if available.
Offers- The Land bank is not accepting lower or higher price offers on these homes, the subsidized sales price is set, and the homes will be sold on a first come first serve basis to qualified buyers.
Must be a first-time homebuyer- You must not have owned a home in 3 years, some exceptions apply
Contact Frank Robusto, RUPCO Inc. 845-331-9860 Ext 320 or email firstname.lastname@example.org for more information