Depot Square Condominiums
Highlights
Depot Square Condominiums is new 46 unit condominium project located at 116-128 Rantoul Street in Beverly, MA. One affordable garden style unit is available for eligible first time homebuyers.
Public Information Meeting: |
Date, time, and location to be announced
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Application Deadline: |
To be announced
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Lottery Date: |
Date, time and location to be announced
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Affordable Price: |
$138,000
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Mortgage Guidelines: |
There are specific mortgage guidelines that must be met. They are:
- The loan must have a fixed interest rate through the full term of the mortgage.
- The loan must have a current fair market interest rate. (No more the 2 percentage points above the current MassHousing Rate.)
- The buyer must provide a down payment of at least 3%, 1.5% of which must come from the buyer’s own funds.
- The loan can have no more than 2 points.
- The buyer may not pay more than 38% of their monthly income for housing costs.
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Location: |
116 – 128 Rantoul Street
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Town Website: |
www.beverlyma.gov
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Maximum Allowable Income: |
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| Household Size |
1 |
2 |
| Max Allowable Income |
$46,300 |
$52,950 |
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Total # of Units: |
46 |
Unit Style: |
garden style condominium
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One Bedroom Unit: |
679 sq. ft.
One bathroom
Gas Heat – included in condo fee
Central air conditioning
Surface parking for one car
Granite Countertops
Hardwood floor – in living and dining areas
Ceramic tile flooring in bathroom
Stainless Steel kitchen appliances – including gas range, refrigerator, microwave and dishwasher
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