Most of the homes at Village Gardens are priced to be affordable to those who make less than 80% of area median income. Two homes at Village Gardens are priced to be affordable to those who make 60% of area median income or less and are experiencing housing instability. See income limits below to see what 60% area median means in dollars.
These homes are funded in part by the Federal Home Loan Bank. The FHLB qualification form lists a variety of conditions that are considered housing instability or homelessness, including doubling up with family or friends in an arrangement that is short-term in nature.
Applicants for these special homes must submit FHLB's form signed by a qualified third-party agency stating that the applicant meets the criteria described on the form. Qualified agencies include government or nonprofit organizations that provide homeless housing or housing referral services.
Please note that the FHLB form includes reference to qualified applicants who presently own their home. For the purposes of the sales at Village Gardens, current homeowners are excluded by requirements of other funders. Homes at Village Gardens must be sold only to first-time homebuyers. If you have not ever owned a home or if you have not owned a home within the last three years, you qualify as a first-time homebuyer.
Download the form to be completed here: FHLB HOMELESS CERTIFICATION
The bottom section of the form must be signed by a third-party that has knowledge of the household's homeless status. Examples of third-parties that can sign this form are: case workers, shelter staff, your employer, the landlord of someone you are temporarily living with, and more. If you have questions about this, please email us at apply@homesteadclt.org.
Special Income Limits apply for these 60% AMI Homes. Income limits for these homes are:
Bring your questions to the information sessions: INFORMATION SESSIONS