The term ‘Affordable Housing’ and Austin don’t make it in the same sentence very often these days. But there is hope for lower income families looking for a home to call their own. A subsidiary of Austin’s Habitat for Humanity called HomeBase and the city of Austin are working with developers on a new subdivision to meet the needs of these homebuyers.
Westgate Grove is a new community located off Westgate Blvd and Cameron Loop, in the heart of southwest Austin. There are 50 affordable single family homes in the first phase. These homes are estimated to be priced between $153,000-$192,500 and will be available to working families earning 80% or less of the median family income (MFI) adjusted for family size. The second phase is comprised of 50 condominium units. These condominiums will be available to families that meet the same criteria as those who qualify for the single family home.
One of the big questions about this community would be who qualifies? There are eligibility requirements that the applicant must meet. Most people want to know is what is the income requirement for Westgate Grove? The maximum annual family income must be below $49,200 for a family of 2 to qualify and as previously stated, the income is adjusted based on the number of family members. The applicants must qualify for a mortgage and there must be at least one person in the household who works at least 25 hours a week. There are other qualifiers for this community, but I’m hitting on the major points.
You’ve reviewed the qualifications and now you want to know how do you apply? First of all you, as a buyer would be wise to contact a Realtor like me to help you through the process. Remember there is no charge for a buyer to be represented by a Realtor. Then you would go to http://homebasetexas.org/getahome/howtoapply/ and fill out their information questionnaire and while you wait to hear back, let me get you in touch with one of my lenders to make sure this program is the best suited for you, since there are many loan programs available