Perry Street and Undermountain Rd. Homes

We are currently accepting pre-applications for two homes on Perry Street and two homes on Undermountian Rd. The Salisbury Housing Trust is partnering with the Litchfield County Center for Housing Opportunity to build new three bedroom homes that will be for sale to income eligible households. If you are interested, please submit a pre-application ASAP. An info session will be hosted via Zoom on April 10, 2025, at 7:30 p.m. for prospective applicants to learn more about eligibility requirements, how the Salisbury Housing Trust ground lease works, and Q&A. CLICK HERE to register for this informational meeting.

Program Overview

WHO IS ELIGIBLE:

To qualify, your total gross annual household income must be at or below 100% of the Litchfield County Area Median Income (AMI).  See attached pe-application form for the current income limits chart. Your assets will also be assessed to make sure your household is eligible.

Applicants must be first-time homebuyers- that is defined as an individual or household of which no household member has had an ownership interest in a principal residence at any time during the past three (3) years. Please also note that all selected purchasers must occupy the affordable home as their primary residence. There will be a strong preference for households of three or more people.

HOMES FOR SALE:

These are three bedoom Cape-style homes that are being built now. They will be sold to income eligible buyers for between $250,000 and $280,000 including a forgivable downpayment assistance loan of approximately $25,000. This is a shared equity homeownership model where the homebuyers will purchase the house that sits on land owned by the local housing non-profit. The homeowners lease the land from the local housing non-profit in a long-term lease. The homeowners agree in the lease that when they want to sell  the home they will sell it at a price to keep it affordable to households at or below 100% of the area median income. For more details, ask us for a sample ground lease.

 WHEN WILL HOMES BE READY FOR PURCHASE:

We are expecting the first homes to be ready for purchase in Salisbury in May 2025. The next homes will be ready in Cornwall this summer and in Washington and Norfolk this Fall/Winter. These timelines are subject to change, please contact us for the latest news on specific homes in specific towns.

 WHAT IS THE APPLICATION PROCESS:

1)    CLICK HERE to download and fill out the Pre- Application form. Submit the Pre-Application form today! By emailing it to LindsayL@thehousingcollective.org

2)    If you are eligible, you will be asked to submit a full application package including income and asset documentation like your tax returns, paycheck stubs, and bank statements to ensure that your household is income eligible for this homeownership opportunity.

3)    If there are multiple income eligible households interested in a specific home, they will be entered into a lottery.