For more information or reasonable accommodations for persons with disabilities, please contact us using the information provided on the property website or email that you received.

 

Questions:

Maloney Properties’ staff is available to answer any questions during the process.

Please feel free to contact us through the following methods:

 

Email: ThePost@MaloneyProperties.com

Phone: 617-639-3064 Ext. 752| US Relay 711

Website: www.ThePostLottery.com

Only Mortgage Preapproval Letters and Proof of Local Residency/Employment are required with the application. Other supporting documentation such as proof of income, assets, etc. will not be required to be entered into the lottery.

The income and asset eligibility screening process will be completed post-lottery.

Following the lottery drawing, the top applicants will then be screened for income, which must be under the maximum allowed based on the AMI for which they are applying for.

What is a Household?

·         A “household” includes all persons who will reside in the condo you are applying for. A Household includes babies, children, teenagers and adults, regardless of their ability to earn or receive income;

·         A household consisting of unrelated persons must have a documented history of living together leading up to June 30, 2022 and an intention of continuing to do so.

·         A household which consists of ONLY full-time students (including PhD) is not eligible to apply.

·         Applicants may not submit multiple applications as a member of multiple households.

·         An unborn child is considered a household member if the mother is in her third (3rd) trimester of pregnancy at the time of the lottery date. Minors under shared custody are considered household members if they live with the applicant at least 50% of the time. Adult dependents away for college as full-time students are considered household members. Legally married couples shall both be considered part of the household, even if separated. However, in situations where a household member is legally married to a spouse absent from the household (whether or not officially divorced or separated) and the absent spouse will not be moving into the inclusionary condo, the applicant must provide current verification: (1) if divorced, a copy of a divorce decree; (2) if not divorced, a copy of a separation agreement; (3) if the applicant does not have the documentation in #1 or #2, documentation of residing in separate addresses (such as copies of leases). Where no such documentation exists of residing at separate addresses, a notarized affidavit from the parties (or party in the event it is not safe or possible for both parties to do so) that they are separating and will be residing at separate addresses as of a certain date. Without any of the above verification, the ex-spouse will be considered part of the household and their income and assets will be counted in determining income eligibility, even if they do not plan on residing there.

 

Race & Ethnicity (Optional Disclosure):

 This response is for the race and ethnicity of the head of household only.

There is no penalty for persons who do not complete this section of the application. This information will only be used in aggregate, for the purposes of reporting and analysis.

When self-employment income is sporadic or based upon commission, the projection of household income currently shall be based upon historical data unless:

(1) 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

(2) 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.

(3) 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.

 

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.

 

• There is an asset limit of $75,000
• All assets must be disclosed and listed on the application.
• Asset includes: checking, savings, stocks, 401Ks, IRAs, investment, retirement, certificate of deposit (CD), property, down payment gift amount etc.
• If a potential purchaser divests him/herself of an asset for less than full and fair cash value of the asset within two years prior to application, the full and fair cash value of the asset shall be included for purposes of calculating eligibility.

Local Preference for Current Residents:

In order to qualify for this preference, applicants must verify their residency by providing one (1) of the following documents with their name and Somerville address and dated within 30 days from the date the completed pre-lottery application is submitted:

• Signed Lease

• Voter Registration

• Utility Bill (electric, gas, oil, cable, etc) – MUST be dated within 30 days

• Current Bank Statement

• If a lease cannot be provided, a signed & dated letter by landlord identifying the applicant, address & proof of ownership may suffice in some instances.

• Letter from a shelter

• Notarized letter signed under the pains and penalties of perjury from lease holder verifying sub-tenancy and including lease of lease holder

Local Preference for Full-Time employees in Somerville:

In order to qualify for this preference, applicants that work full-time in Somerville, a household member must provide a paystub, dated within 30 days.

If a paystub cannot be provided, a letter of employment by the applicant’s Human Resources Director or Payroll Director on company letterhead with contact information may be provided. The letter must state the employee’s name, location of employment & the number of hours working in Somerville per week. The letter must be dated within 30 days from the date the completed pre-lottery application is submitted. Somerville work preferences may not be granted for households providing co-working spaces as verification of employment in Somerville.

Local Preference for Recently Displaced Residents of Somerville:

In order to qualify for this preference, at least one (1) member of the household must provide one (1) the following documents to establish Somerville residency within the preceding two (2) years from the time of the lottery eligibility and suitability screening:

• Cell phone bill
• Cable bill
• Internet bill
• Gas bill
• Oil bill
• Electric bill
• Water bill
• Bank statement
• Renters insurance bill
• Car insurance bill
• Public benefits letter (e.g. SSI, SSP, Medical, TAFDC, Unemployment, etc.)
• Expired signed lease
• Notarized letter from landlord confirming applicant tenancy with proof of ownership
• Notarized letter from lease holder verifying sub-tenancy and including lease
• School record for child/children (under 18 years of age) with address
• Section 8 or other rental voucher program rent share letter or agreement
• No fault notice to quit
• No fault notice of lease non-renewal
• Inspectional Services Department- Health Division letter acknowledging unit deemed uninhabitable

Where Can I Enroll in a First-Time Homebuyer Course?

Citizens’ Housing and Planning Association (CHAPA) provides a directory of MHC approved first-time homebuyer training courses in the Greater Boston Region. Up-to-date date listings are on their website: www.chapa.org. Online and in-person classes are listed there at various prices, dates, times and languages.  https://www.chapa.org/housing-courses/homebuyer-education-agencies

MHC approved first-time homebuyer courses are taught monthly at the Somerville Community Corporation (SCC) in Union Square. You can view course schedules and register at https://www.somervillecdc.org/first-time-homebuyers/ or register for classes by contacting Renee Taylor at (617) 410-9907 or by email at rtaylor@somervillecdc.org or Jose Cedanio at (617) 410-9908 or email at jcedanio@somervillecdc.org

Completion of a Previous First-Time Homebuyer Course

Certificates of completion dated within three (3) years of 02/24/23 from a Massachusetts Housing Collaborative (MHC) approved first-time homebuyer’s course are accepted. Certificates dated older than three (3) years of 02/24/23 will NOT be accepted.

 

*Households must be first-time home buyers.*

A first-time homebuyer cannot own a home or an interest in a home in the preceding three years, including a trust.

Exceptions to this include:

(i)  Any individual who is a displaced homemaker may not be excluded from consideration as a First-time Homebuyer under this definition on the basis that the individual, while a homemaker, owned a home with his or her spouse or resided in a home owned by the spouse.

(ii)  Any individual who is a single parent may not be excluded from consideration as a First-time Homebuyer under this definition on the basis that the individual, while married, owned a home with his or her spouse or resided in a home owned by the spouse.

(iii)  Any individual who is a member of a Household in which one member is aged fifty-five (55) years or older may not be excluded from consideration as a First-time Homebuyer under this definition.

(iv)  An individual may not be excluded from consideration as a First-time Homebuyer under this definition on the basis that the individual owns or owned, as a principal residence during the 3-year period before the purchase of the an Affordable Dwelling, a dwelling unit whose structure is (x) not permanently affixed to a permanent foundation in accordance with local or other applicable regulations; or (y) not in compliance with State, local, or model building codes, or other applicable codes, and cannot be brought into compliance with such codes for less than the cost of constructing a permanent structure.

The lottery application will require a mortgage pre-approval letter. Please upload a valid (not expired) pre-approval letter that is at least the purchase price or greater.  

This opportunity to purchase an affordable, deed-restricted unit at a significant discount is being offered through the Somerville’s Inclusionary Housing Program. This requires, among other things, that the unit remain affordable for future buyers in perpetuity.  If you are selected to purchase this unit, you will sign a “Deed Rider” and record it with the registry of deeds which describes the restrictions on the unit and your responsibilities. These restrictions will remain with the unit permanently and will apply to you and all subsequent owners.

The following is an overview of the most important aspects of the Deed Rider and is meant for informational purposes only. If selected, you are strongly encouraged to hire an attorney to review the full recorded Affordable Housing Restriction.

Principal Residence and Leasing: The unit must be used as your primary principal residence and may not be leased without prior written consent from the Housing Division. Additionally, the units may not be used for short term rental such as an Airbnb under any circumstance etc.

Refinancing: Express written consent must be obtained from the City of Somerville OSPCD, Housing Division prior to refinancing your loan.

Notice to the City of Somerville when selling your home/unit: When you want to sell your home, you must contact the City of Somerville, OSPCD Housing Division. You must submit a written intent to sell. OSPCD will calculate the Maximum Affordable Sale Price. The buyer must meet income and asset criteria and the City must certify their income and must also be first time homebuyers.

The City conducts annual monitoring: Homeowners will need to complete an annual residency verification form and provide residency documentation to ensure buyers are in compliance with the deed restrictions.

Improvements are not included in the resale calculations: if you are thinking of doing improvements other than ordinary maintenance and have questions about it, contact OSPCD’s Housing Division first.

You can hope for a small modest increase in the resale price; however, these units are not market rate units and are not valued as such. The price does not increase a set percentage every year. Upon resale, the units must remain affordable to another income eligible first-time homebuyer.
 

A deed-restricted unit cannot be resold without the City’s Certificate of Compliance verifying the affordable price and the income eligibility of the purchaser.         

Please note the Maloney Properties reserves the right to request additional documentation after reviewing the application. Failure to provide any additional documentation requested by Maloney Properties by the given deadline will result in your application not being entered into 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 afford a person with disabilities an equal opportunity to use and enjoy the housing.

I understand that the Lottery Agent is relying on this information to prove my household’s eligibility. 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 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 the lottery.

I further consent to this information being shared with the Somerville Community Land Trust, Inc. and the City of Somerville’s Housing Division in the course of income eligibility review.

All ADULT household members must sign below: