A new town home development in Stapleton has added eighteen units to the affordable housing inventory. The demand is high and all the 18 units have already been sold. Brokers are taking back-up contracts on the units.
Don’t be discouraged if you didn’t get in on Spruce Townhomes, more affordable housing is on the way.
In an April 18, 2017 press release, Stapleton gave us the breakdown of the numbers;
“Stapleton’s Affordable Program By the Numbers:
- 425 affordable for-sale homes completed or under construction to date
- 18% of all home sales in Stapleton in 2016 qualified as “affordable” deed restricted
- Land designated and being held to meet 10% affordable for-sale agreement
- 362 affordable for-rent apartments completed or under construction to date
- Land designated and being held to meet 20% affordable for-rent agreement”
If you want to take advantage of these properties, you need to act fast. These homes are income-qualified and you need to meet certain guidelines. Here are the income basics:
Gross annual pre-tax income must be below:
Single person $44,800, 2 people 51,280, 3 is at $57,680 and up to 6 people in the family with income at $74,400. In addition, you must meet lender’s requirements for income, debt and credit ratios.
This home must be your primary residence and you will make certain agreements about the appreciation of your home.
More developments are on the way and you don’t want to miss out. Get pre-qualified today.
The best way to know if you can qualify for the program and get a mortgage for the home you want is to contact us today. Give Tricia a call at 303-845-2409 and get all your affordable housing questions answered.
2703 Kenton Street, Denver, CO 80238
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