50 Cape Cod condos are up for grabs in a housing lottery. Prices start at $282,800
Housing Assistance has opened applications for a 50-condo homeownership lottery at Cornerstone Hyannis , with prices ranging from $282,800 to $421,550. The new middle-income housing community at 268 Stevens St. is within walking distance of Main Street Hyannis . Of the 50 condos , 46 will be income-restricted and four will be sold at market rate. The development will include 18 one-bedroom, 27 two-bedroom and five three-bedroom condos. The homes will be sold as primary residences, with prices depending on income level, household size and eligibility. Who is eligible for the Cornerstone Hyannis lottery? Applicants generally must be first-time homebuyers, though certain exceptions apply. They must earn no more than 100% or 120% of Area Median Income, depending on the condo. The annual income limits for households at 100% and 120% AMI are: One person: $98,900 and $118,700Two people: $113,000 and $135,600Three people: $127,100 and $152,550Four people: $141,200 and $169,450Five people: $152,500 and $183,000Six people: $163,800 and $196,600 Applicants also may have no more than $155,000 in assets, excluding IRS-recognized retirement accounts of $250,000 or less. Buyers must qualify for a mortgage with a minimum 3% down payment. Applications and full eligibility requirements are available at maloneyproperties.jotform.com/262734701950962 . The application
