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Affordable Homeownership Opportunity 
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Condo For Sale

4-Bedroom, 2-bathroom, 2-story condominium located at Wisdom Way Solar Village in Greenfield, MA.

Living area: 1768 sq. ft. Year built: 2009 by Rural Development, Inc. (RDI)

This spacious solar home offers minimal utility costs and maximum efficiency.  Numerous green technologies have been incorporated into the building design, earning it a LEED Platinum designation. What’s more, this home gets lots of natural light, has sustainably harvested hardwood floors, great internet, an open floor plan and plenty of storage. Other amenities include community garden, playground, ball field, lots of great walking opportunities, and proximity to bus stop and train station.

 This is a deed-restricted property, which limits its future resale price to keep the property affordable to future eligible homebuyers.

 WWSV 1 
Max price on this home is $221,024
Current Property taxes: $3996.45/year
Condo Association fees: $218/month
Estimated HO insurance: $300/year

To view additional photo's please go here: 41 Solar Way, Greenfield, MA 01301 | Zillow

HOME Investment Partnerships Program (HOME) – General Information Regarding Deed Restrictions

This affordable housing opportunity is through the HOME Investment Partnerships Program (HOME), which restricts the deed for this property (“Deed Rider”). The agency that monitors the implementation and compliance of the “Deed Rider” for this specific property is: The Department of Housing and Community Development (DHCD), 100 Cambridge Street, # 300, Boston, MA 02114.

We recommend that you review the “Deed Rider” before you commit to purchase an affordable home.

Here are the highlights of the deed restrictions:

Principal Residence: The property must be your principal residence where you regularly live, eat, sleep, are registered to vote, etc.

Leasing: You may not rent or lease your home without the prior written consent from DHCD.

Refinancing: You must get an approval from DHCD if you wish to refinance your mortgage or obtain a second mortgage. 

Capital improvements: You should contact DHCD prior to making capital improvements to your home (adding living space, replacing major systems, etc.). DHCD can determine if these improvements will be prorated in your resale price. 

 Selling your home: The resale price of your affordable home is defined by a formula included in the “Deed Rider”. When you decide to sell your affordable home you must notify Rural Development, Inc.  and DHCD in accordance with the deed rider. DHCD will determine the resale price and the selling process to comply with the deed restrictions and to keep the long-term affordability of the home. 

 If you have any questions, please contact Melanie Gaier at This email address is being protected from spambots. You need JavaScript enabled to view it. or (413) 223-5217 before making any commitment!

 To view Unit 9E 41 Solar Way Deed Rider, click here

  Homebuyer Eligibility Criteria

 ·       First-Time Homebuyer “First-Time homebuyer” is defined as a person who has not owned a home within 3-years prior to the purchase of this property. This applies to all household members. Exclusions to this are: Displaced homemakers and/or single parents who may have owned a home with a spouse or lived in a home owned by a spouse; or individuals who have owned a home, as a primary residence, during this 3-year period, that was not permanently affixed to a permanent foundation (e.g. mobile home). See the deed rider for more specifics on the definition of a First-Time Homebuyer and allowable exclusions.

·       Household income: Must be at or below 80% the area median income (see chart below for income limits based on household size)

·       Asset Limit: The household’s total assets must be below the maximum asset limit of $75,000. 

·       Financing: Applicants must be able to obtain their own financing. Households should have sufficient funds for a down payment and closing costs per the requirements of their lender. The homebuyer will need to secure a conforming mortgage at competitive rates. NOTE: FHA and VA mortgages MAY NOT ACCEPT THE DEED RIDER.  CHECK WITH YOUR LENDER TO MAKE SURE THE MORTGAGE PROGRAM(S) YOU ARE PRE-APPROVED FOR WILL ACCEPT THIS DEED RIDER. Non-household members are not permitted to be co-signers on the mortgage.

        ·        First-Time Homebuyer Education Certificate: Buyers must have completed a HUD-approved First-Time Homebuyer Education workshop prior to closing. Certificates with a completion date of up to 2-years prior to closing will be accepted.

        80% AMI for Franklin County effective April 2021:

Household Size

1 person

2 person

3 person

4 person

5 person

6 person

7  person

8 person

Income limit

$47,150

$53,850

$60,600

$67,300

$72,700

$78,100

$83,500

$88,850

 

 

 Application and Purchase Process

Interested buyers must submit a complete application (including all the necessary supporting documents) to RDI and must receive RDI approval prior to submitting an Offer to Purchase. Applications will be reviewed on a first come, first served basis. Showings can be arranged by the seller or their agent.

For more details on the application and purchase process or to request an application, contact Melanie Gaier at 413-223-5217 or This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.ruraldeveleopmentinc.org


 Click here to review the Resale Application

 

This is an Equal Housing Opportunity.

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