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Displaced Homemakers

And 40B Housing

40B Housing and Displaced Homemakers

Are you a displaced Homemaker? You may be eligible for a 40B home!

A displaced homemaker, specifically defined by the Massachusetts Department of Housing and Community Development is an adult who has not worked full time in regular employment the labor force for a full year or, for a number of years.  As a homemaker, during that period of time, who has primarily worked, whether caring or home and family without payment (remuneration) and owned a home with their partner or lived in a home owned by their partner.

As an applicant, you must be a first-time homebuyer. A first-time home Buyer is either themselves or someone in their household who has not owned a home, an interest in a home (with one or several people) or, in joint ownership over the past three years.

If you’re a displaced homemaker and or someone in your household is over the age of 55, you don’t have to be a first-time homebuyer. However, but must sell the property you or, someone in your household owns in order to be eligible.

If you were married and owned a home within the last three years but are now divorced you can only be considered a first-time homebuyer if you are considered a displaced homemaker.

If you were a part of a household where you or another household member is 55 or older or one of the individuals in that household who did not own a home within the last three years you may be considered a first-time homebuyer as long as you meet the income and asset limits.

Learn more about 40B housing and affodable housing lotteries by clicking here. 

There’s more! Contact Delphic Associates today and let’s talk about it!

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