Newer home (built in 2006) located in Lincoln Park just blocks away from the newly developed and growing craft district. Brand new carpet just got finished being installed and lots of new paint on the walls. Big spacious kitchen is filled with natural light and overlooks big fenced in backyard. All three bedrooms are a good size, and the basement has very tall ceilings and potential for finishing into additional usable space. There is a single car garage and an additional off-street parking pad next to it. This home has an appraised market value of $174,000, but is being sold for $30,000 below market value to income qualified households. An additional $15,000 in downpayment assistance is available based on need, which could lower the mortgage amount to $129,000.
Home must be owner-occupied and buyer’s gross annual income cannot exceed the following (household size in parenthesis): $42,750 (1); 48,850 (2); $54,950 (3); $61,050 (4); $65,950 (5); $70,850 (6).
Prospective buyers need to have mortgage pre-approval from North Shore Bank or US Bank, income documentation verification and completed Community Land Trust program application prior to signing purchase agreement. Homebuyer education class can be completed between purchase agreement & closing.