A private developer, Lakeland Farms, LLC and officials of the Town of Norfolk have collaborated to provide this affordable housing opportunity in Norfolk. The development is situated on 8.85 acres of land off of 84 Cleveland Street in Norfolk and will consist of 32 single family homes owned in the form of a condominium.
Eight (8) of the thirty-two (32) condominium homes have been designated as affordable. The estimated Condominium Association fee will be approximately $100 monthly. The homes that will be built will have three bedrooms with 1.5 baths and garage. The new homes will range from approximately 1,640 square feet 2,088 square feet.
The affordable Single-Family Condominium Homes will be sold at the initial sales price of $248,000 for a three-bedroom unit. It is estimated that the total monthly cost of your mortgage payment including Principal, Interest, Real Estate Taxes, Private Mortgage Insurance (PMI), Hazard Insurance will be approximately $1,951 for the 3-bedroom homes. This assumes a 30-year fixed rate mortgage at current rates with a 3% down payment. Your actual down payment can be 3%, of which half (1.5%) must be from the buyers own funds.
Deadline to submit applications is July 9th
Tuesday July 16th at 7pm
Norfolk Town Hall
G07 Conference Room
1 Liberty Lane
Norfolk, MA 02056