A private developer, Madeira Ventures, LLC and officials of the Town of Seekonk have collaborated to provide this affordable housing opportunity in Seekonk, MA. The development is in accordance with the Department of Housing and Community Developments’ Local Initiative Program – Local Action Units (“LIP-LAU”). This development consists of 11 (eleven) single family homes. There will be 1 (one) homes designated as affordable and sold to buyers whose incomes are at or below 80% of the area median income.
Jacob Hill Estates is located on Palmer River Road in Seekonk, off Jacob Street, which intersects with Taunton Avenue (US Route 44). The homes will be situated on 16.9 acres of land. The placement of the homes in a friendly village setting will create a neighborhood setting onto itself.
The affordable homes will be sold at the initial sales price of $199,000. When completed these homes will be designated as affordable and sold to first time homebuyers whose incomes are at or below 80% of the area median income.
The homes will have 3 bedrooms and 2½ baths with an attached 1 car garage. The homes will have public water, and a common septic system.
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 HOA fees of $73 will be approximate $1,433. Your down payment can be 3% of which half 1.5% must be from the buyers own funds. You cannot rely on this estimated monthly cost, this is only an estimate. Your actual mortgage payment may be different based on the actual interest rate and other factors. You should verify your actual mortgage payment with your lender and/or accountant.
Deadline to submit applications is March 17th
March 31 at 7pm
18 Palmer River Rd
Public Q & A Workshop
Feb 25th at 7pm
18 Palmer River Rd