Copperwood Circle – Pembroke, MA
A private developer, Copperwood Circle Builders, Inc and officials of the Town of Pembroke have collaborated to provide this affordable housing opportunity in Pembroke. The development is situated on 49-acres of land off of Birch Street in Pembroke and will consist of 34 Single Family Homes.
Nine (9) of the homes have been designated as affordable. Five (5) homes were sold in a previous lottery. This lottery will be for the remaining four (4) Affordable Units. The sales price is $338,700 for the affordable homes and the estimated Homeowners Association fee will be approximately $50 monthly.
The homes that will be built will have 3 bedrooms, 1.5 baths and a garage. The new homes will range from 1,762 square feet to 2,050 square feet.
The Town of Pembroke is a rural community located approximately 30 miles South of Boston. The town is a convenient commute to Boston to the north and historic Plymouth to the south. With five ponds, Pembroke is able to offer swimming, boating and fishing in the summer and ice fishing and skating in the winter months to residents and visitors. Approaching Pembroke, visitors pass the herring run and the park, a site which brings people from surrounding areas. Pembroke’s town center is that of a typical New England town with many well-preserved historic buildings, picturesque and unique to the northeast Residents comment that if you live in Pembroke and work elsewhere, you are always happy to come home.
It is estimated that the total monthly cost of your mortgage payment including Principal, Interest, Real Estate Taxes, Private Mortgage Insurance (PMI), Hazard Insurance and Homeowners Association will be approximately $2,210. This assumes a 30-year fixed rate mortgage at current Freddie Mac rate of 3.18% plus .25% with a 5% down payment. You cannot rely on this estimated amount, this is only an estimate. Your actual mortgage payment may be different based on the actual interest rate and other factors. This monthly mortgage payment is pre-tax and does not include the tax advantage of home ownership. To determine your monthly payment and net expense post tax effect, you should consult with your accountant or tax advisor.
Your down payment can be 3% of which half can be a gift. There are some housing programs such as USDA in which the down payment may be as low as $0.
Application Deadline | June 24th, 2021