Town of Winchester Announces Property Available Through First Time Home Buyers Program

The Town of Winchester announces the availability of one property through its First Time Home Buyer Program. The application deadline is October 29, 2010.

The two-story townhouse property is located at The Willows, 7 Conant Road, #49 in Winchester. The townhouse is a two bedroom, two and one half bath second floor unit. The kitchen includes a refrigerator, dishwasher, and microwave. Other features in this unit include a fireplace in the living room and a washer/dryer hookup on the second floor. This townhouse is being offered at the below market value of $124,000. Unit eligibility is determined by the income of the applicant household.

Applicants must be first time home buyer households and must satisfy all eligibility requirements, which include being pre-approved for a mortgage and meeting the income and asset limits.   Preference for this unit will be given to households requiring the two bedrooms and local preference will also apply.  Applications must be submitted to the Town Manager's Office by Oct. 29 by 4 p.m.  All eligible applicants will be placed in a lottery that will be conducted on Nov. 9, 2010.

As part of the First Time Home Buyer Program, the amount of gain which may be derived from the resale of these units is strictly limited and future purchasers must also meet the First Time Home Buyers and financial eligibility criteria.

Complete Program and Qualification Guidelines, and an application packet can be found at the Town of Winchester's website in the News & Events section at www.winchester.us. 

The Town will also host an information session on Saturday, September 18th at 10 a.m.m at Winchester's Town Library. Winchester Cooperative, Winchester Savings, and Northmark Bank are offering special mortgage programs for first time home buyers, and representatives will be on hand to meet applicants. 

Applicants interested in seeing the units can attend an Open House being held immediately following the Information Session on Saturday, Sep. 18 from 11:30 a.m. to 1 p.m. There will be another Open House on Thursday, Oct. 14 from 5 p.m. to 7 p.m. 

Application packets are also available at the Town Manager's Office, Town Hall, 71 Mount Vernon Street, second floor or on the website.