Leverett Assistance Program
HRA administers two assistance programs for new Leverett homeowners: the Homeownership Assistance Program and the Down Payment Assistance Program. Please review the program flyer to see income guideleines and other program requirements. HRA will begin accepting applications May 1, 2017. The Down Payment Assistance Program will serve homeowners on a first-qualified, first-served basis. The Buy Down Program will conduct a lottery to select the first three households served. Applications for the Buy Down Program will be accepted from June 26th, 2017 to August 18th, 2017 and the lottery will be held September 18th, 2017 at Leverett Town Hall.
Buy Down Program
The Buy Down Program provides a homebuyer with up to $50,000 to reduce the purchase price of a home, and preserves the long-term affordability of that property by placing a deed restriction on it. Homes purchased through this program cannot exceed $270,000.
Down Payment Assistance Program
Qualified homeowners can gain access to a 0% interest deferred payment loan for 5% of the purchase price, which is repaid when the property is sold or transferred. Homes purchased through this program cannot exceed $280,000.
Leverett Assistance Programs Income Eligibility Chart
|Household Income||Maximum Income|
|One (1) person||$53,550|
|Two (2) people||$61,200|
|Three (3) people||$68,850|
|Four (4) people||$76,500|
|Five (5) people||$82,620|
|Six (6) people||$88,740|