The Villas at Lebaron Hills
The Villas at Lebaron Hills
A private developer, and officials of the Town of Lakeville have collaborated to provide this affordable housing opportunity in Lakeville. The Villas at LeBaron Hills is an approved 52 condominium unit community, consisting of 4 buildings, of which 8 units will be designated as affordable and sold to first time homebuyers with incomes at or below 80% of the area median income. THIS LOTTERY WILL ONLY BE FOR THE FIRST 4 UNITS IN 2 BUILDINGS.
Located in the Town of Lakeville, The Villas at LeBaron Hills is a rural community close to Massasoit State Park & exclusive golf opportunities at the prestigious LeBaron Hills Country Club. Lakeville is a rural community located approximately 30 miles South of Boston. With the T nearby, the town is a convenient commute to Boston to the north and historic Plymouth to the south.
This serene residential neighborhood promotes a modern & active lifestyle with lots of curb appeal and room to stroll. With ten ponds and lakes, Lakeville is able to offer swimming, boating and fishing in the summer and ice fishing and skating in the winter months to residents and visitors. The 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 Lakeville and work elsewhere, you are always happy to come home.
The Villas at LeBaron Hills units will have 2 bedrooms and 1 bath. The units will have public water, natural gas and private septic systems. See all unit descriptions below. The sales price for the 2-bedroom units is only $222,200.
Wollaston Unit – First floor, 2 bedrooms, 1 bath, and basement
Malibu Unit – Second floor, 2 bedrooms, 1 bath
PLEASE NOTE: YOU DO NOT GET TO CHOOSE YOUR UNIT. LOTTERY APPLICANTS WILL SIMPLY BE OFFERED THE NEXT AVAILABLE UNIT WHEN THEIR NAME COMES UP ON THE LOTTERY LIST.
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 $121 This assumes a 30-year fixed rate mortgage at current Freddie Mac rate of 3.03% 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 up to half can be a gift. Half must come from your own funds.
All affordable homes will have a “Deed Restriction” that will be recorded with the mortgage at the time of purchase. This deed restriction in part, limits the amount the home can be resold for or refinanced for and requires that it be resold to another affordable buyer.
Application Deadline 10.13.20
Virtual Lottery Drawing
Oct 27th, 6:30pm
All lottery applicants will be given instructions on how to view the lottery drawing on Zoom.