AFFORDABLE APPLICATION FORM
AFFORDABLE UNIT APPLICATION FOR PURCHASE
IMPORTANT
You may only submit one application per household. Duplicate applications will be discarded and only one application per household will be accepted.
North Strand Condominiums 133 Salem St., Revere, MA 02151
We're not accepting applications at this time.
Primary
Secondary
Household Size
QUALIFYING INCOME INFORMATION
The affordable units available are in the 70 & 80% AMI income category.
*2023 Area Median Incomes for Boston, Cambridge, Quincy, MA-NH MSA.
You must supply a Pre-Approval Letter from a Mortgage Lending Institution in the amount of Condo Purchase.
BDPA Inclusionary Development Policy 2023 Income Limits,
Maximum Sales Prices & Maximum Affordable Rents based on Area Median Income:
Household Income
Name
relationship
income
Name
Name
relationship
Name
Name
relationship
Name
Name
relationship
If Selected, Applicants MUST Provide the following for each adult:
1. Your last two years of tax filings (2022,2023) for all adults in household.
2. Your last four (4) consecutive paychecks for each household member over 18 years old. Please list all household members and income below.
3. If self-employed, please provide a self-prepared year to date profit and loss statement. Please provide a no income affidavit for anyone with no income aged 18 or over.
Include income for full time students over age 18. Additional Guidance on Income:
1) Medical Expense Income Exclusions
a) Medical expenses, including insurance costs, do not qualify as an excludable expense, e.g., an expense that may be used to reduce income.
b) If another family member is providing regular monthly payments to help with medical expenses, including insurance costs, that payment is a qualified medical reimbursement and does qualify for income exclusion. Child support designated for medical expenses shall be treated in the same manner; it shall be excluded from income.
Self-Employment Income
1) If self-employed, please provide a self-prepared year to date profit and loss statement.
a) When self-employment income is sporadic or based upon commission, the projection of house hold income currently shall be based upon historical data unless:
b) The household can demonstrate and verify that it has experienced a change in circumstances that is a reliable indicator that its income has decreased, and that the historical data is not a reasonable basis for projecting household income;
or c) Documentation indicates that the household has experienced a change in circumstance that is a reliable indicator that its income has increased, and that the historical data is not a reasonable basis for projecting household income.
2) When self-employment income is sporadic or based upon commission and there is no record of self employment from the last year in which tax returns were filed, the projection of household income will be based solely upon the reliable year- to-date documentation.
3) Sporadic Child Support Payments Child support income shall be determined based upon the prior 12-month history. Lump sum payments for prior periods shall not be included in calculating the child support payments for the prior 12 months.
Asset Information: Please include copies of the past 2 months of statements for all asset accounts and include all pages of statements. Evidence of all assets must be provided, and all assets must be listed on the application. This includes checking, savings, stocks, CD’s, 401K’s, IRA’s.
Household Assets
Name
relationship
income
Name
Name
relationship
Name
Name
relationship
Name
Name
relationship
Tax Information:
Please include the following for all household members over 18 years of age:
1. Required now are signed copies of your 2022 and prior to closing your 2023
Federal Income tax returns with all schedules included.
2. Last 2 years of W-2 Form or 1099s (must be pdf, .doc, .docx)
Name
Name
Name
Name
Timeline:
The application period will last 60 days. For an applicant to be entered in the lottery, they must submit a completed application and be screened for income and asset eligibility. If an applicant is not income eligible, they will not be entered in the lottery. In carrying out this marketing program and buyer selection process, neither the Owner nor its Lottery Agent, will discriminate based on race, color, creed, religion, sex, familial status, sexual orientation, national or ethnic origin, handicap, citizenship, ancestry or marital status, public assistance, gender identity or any other basis prohibited by law.
Disabled persons are entitled to request a reasonable accommodation in rules, policies, practices, or services, or to request a reasonable modification in the housing, when such accommodations or modifications may be necessary to affordable person with disabilities an equal opportunity to use and enjoy the housing.
Application Deadline:
The deadline for completed applications by mail or email, postmarked no later than December 31, 2023.
Mailed to:
Weichert Realtors-MBRE. Attention: North Strand Condo Lottery, 932 Broadway, Chelsea, MA 02150
EMAILED:
roy@MetropolitanBRE.com
Questions:
Weichert Realtors-MBRE staff is available to answer any questions during the process.
Please feel free to contact us at:
roy@metropolitanbre.com 617 212 4658
Signature Clause:
I understand that the Lottery Agent is relying on this information to prove my household’s eligibility for 133 Salem Street, Revere MASS. I certify that all information and answers to the above questions are true and complete to the best of my knowledge.
I consent to release the necessary information to determine my eligibility. I understand that providing false information or making false statements may be grounds for denial of my application. I authorize my consent to have the Lottery Agent to verify the information contained in this application for purposes of proving my eligibility for occupancy. I will provide all necessary information and expedite this process in any way possible. I understand that my income must be eligible to be entered in the lottery.
All ADULT household members must sign below:
Name
Name
Name
Name