Overview:

Homes in the Solar Village are sold to income-qualified buyers, first through a lottery process, and then first-come, first-served. There will be no further lotteries at this time. Applications are being accepted for the remaining seven homes.

Homes are designated for buyers who fall within certain income limits. The prices of the homes vary according to the income limits set for that home. See here for income limits and sale prices. At this time the remaining homes are designated for moderate income buyers. However, it's still worth applying if you are a low income buyer, as situations change during the buying process.

For more information contact: Cynthia M. Bleil (413) 863-9781 ext. 149 rdi-info@fcrhra.org

Income Limits & Sale Prices:

You may be surprised by how much money you can make and still qualify as low or moderate income! A family of four making up to $85,360 can qualify to own a near zero net energy home in the Wisdom Way Solar Village! Check income limits & sale prices here.

Income Limits Number in Household Low Income Annual Maximum Moderate Income Annual Maximum 1 $43,450 $59,730 2 $49,700 $68,310 3 $55,900 $76,780 4 $62,100 $85,360 5 $67,050 $92,180 6 $72,050 $99,000 7 $77,000 $105,820 8 $81,950 $112,640

Sale Prices

Open Market: 2 bedroom $210,000 3 bedroom $240,000 Moderate Income: 2 bedroom $150,000 3 bedroom $180,000 4 bedroom $210,000 Low Income: 2 bedroom $110,000 3 bedroom $140,000 4 bedroom $170,000

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Eligibility requirements to apply to buy a home:

1. Be a first-time homebuyer.  A first-time homebuyer is a person who has not owned a home for the past three years, or is a displaced homemaker or a single parent.
2. Be able to obtain a conforming mortgage.  You must submit to RDI a pre-qualification letter obtained within the last sixty days from a lender for an amount sufficient to purchase one of these homes. We will assist you with this if needed.
3. Do not have assets above $75,000. For low and moderate-income buyers the total gross household asset limitation is $75,000. This includes all liquid assets.
4. Make this your primary residence. For low and moderate-income buyers the home you purchase in the Wisdom Way Solar Village must be your primary residence.  Renting the home to others is not permitted.
5. Agree to a 30-year period of affordability & Deed Restrictions. Measures are in place to keep the homes affordable to people with low and moderate income for 30 years, except the open market homes.  There are strict resale restrictions that include contacting RDI to find another low-income buyer, and there is a limit on the resale price.  If you purchase one of these homes you will sign a “deed rider” that will describe the conditions and your responsibilities. The purpose of the program is to enable low and moderate income people to own a home, but not to earn money on the home.

In addition, RDI will retain ownership of the remaining two fully accessible homes and rent these to eligible people with physical disabilities.  There is a separate application process for these rental homes.

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Application Process Details:

Preliminary Screening and Selection: RDI’s Outreach and Education Coordinator will review all applications to confirm completeness.  If necessary, the potential buyer will be contacted by telephone, email, or mail to obtain any additional information needed.  Each application will be pre-screened for income and asset eligibility and first-time homebuyer status. RDI will advise non-qualifying applicants in writing of the reason(s) for their failure to qualify.

Applicants will meet with the Outreach and Education Coordinator to review the overall program, eligibility requirements, program restrictions, any steps they need to take, and the terms and conditions of the condominium association.  All income and asset information will be verified. 

For further information and application forms, please contact Cynthia M. Bleil, M.Ed., Outreach and Education Coordinator:

(413) 863-9781 ext. 149
rdi-info@fcrhra.org

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