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Affordable Housing Opportunity

Affordable Housing Overview

Affordable Housing Lottery Overview

What is a Housing Lottery?

An affordable Housing Lottery is to give low-moderate income households, the opportunity of Home Ownership. This is a ‘First-Time’ home buyer program, through Mass Housing, in which Potential Buyers (Applicants) submit their application along with supporting documents to be reviewed and approved for the program. Once the application is reviewed and the applicant is deemed eligible for the Affordable Program, he/she will be submitted into a drawing for the next available affordable homes/condos.

MGL 40B Affordable Housing Act Overview

The Massachusetts Comprehensive Permit Law M.G.L. c. 40B §§ 20-23, enacted as Ch. 774 of the Acts 1969, also known as the Comprehensive Permit Statute, Ch. 40B or the Affordable Housing Act, encourages the Construction of Affordable Housing using locally granted permits.

It was enacted to help address the shortage of affordable housing statewide by reducing unnecessary barriers created by the local approval process, local zoning and other restrictions. A “Comprehensive Permit” is an all-encompassing permit which subsumes all permits and approvals normally issued by other local boards.

The Act requires all communities to use a streamlined review process to develop such housing, including request for zoning and other regulatory waivers.

Affordable Housing Lottery

Once approved a date will be scheduled for a lottery for the availabl homes for sale, held in conjunction with the local housing authority.

Waiting List

Once the lottery is conducted, if there are not enough applicants to fill the homes allotted, the development will be opened on a first come first serve basis.

Who Qualifies for
Affordable Housing

Affordable Buyers must be First Time Home Buyers as defined in the regulations with the exception of:

  • Displaces Homemakers
  • Households where at least one household member is 55 or older
  • Persons within a household who have not owned a home in three years

In addition to being a “First Time Home Buyer” the buyer must meet the income and asset limits.  That is, the buyers total household income cannot be too high, yet they must earn enough to meet the lenders underwriting standards.  In addition, they usually require a credit score of not less than 660 as well as not exceeding the asset limit.  We call this the 10% window which makes the task of finding Qualified First Time Home Buyers most difficult.