New Hampshire Housing partners with Wyndbrook at Dover to make new homes even more affordable
DOVER, NH – June 9, 2010 – (RealEstateRama) — Today, New Hampshire Housing announced that it has awarded Wyndbrook at Dover a New Production Initiative development award for 15 of Wyndbrook’s planned 72 single family homes located just off Tolend Road in Dover.
“New Hampshire Housing is pleased to partner with Wyndbrook at Dover through the New Production Initiative to help make home ownership a reality for qualified individuals by providing down payment and closing costs assistance,” stated Elizabeth Lamoureux, Managing Director, Home Ownership with New Hampshire Housing.
“Providing quality, affordable and desirable homes has always been our focus at Wyndbrook at Dover,” stated Eric Katz, Managing Member of Tolend Road Properties. “We are thrilled to be participating in this program because with New Hampshire Housing’s assistance, our homes will be accessible to even more families.” Tolend Road Properties is developing this community.
In an effort to promote the construction of affordable single family home ownership units in the state, New Hampshire Housing created the New Production Initiative. This Initiative is intended to enable developers to build affordable housing that complies with targeting requirements such as those which may be placed on projects by municipalities.
Wyndbrook at Dover was designated a qualified development after careful review by a team of qualified staff and the Home Ownership Committee at New Hampshire Housing.
Qualified buyers can apply for a deferred payment second mortgage in an amount up to $20,000 for down payment/closing costs associated with their purchase of a newly constructed home at Wyndbrook at Dover when it is combined with New Hampshire Housing’s first mortgage products. This 0% non-amortizing second mortgage is due on sale, refinance or non-owner occupancy of the property. More information can be found at www.nhhfa.org.
“Program participants will the find the Wyndbrook at Dover community to be moderately priced from the $250s, quality built and designed to incorporate the latest in energy efficiency including Energy Star Certification,” concluded Katz. “We look forward to working closely with them to design and build their new home.”
