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PRESS RELEASEMarch 07, 2018
Two lucky winners will soon have the chance of obtaining the American dream in a new Housing Lottery offered by the Town of Southampton. Letters were sent to 252 applicants to notify them that they have qualified for a lottery for two newly constructed 3 bedroom, 2 bath homes in Southampton. The lottery will be held at Town Hall on March 15, 2018 at 2pm.
Qualified first-time homebuyers were required to submit applications to the Long Island Housing Partnership by the February 28th deadline. The homes located on Moses Lane and Magee Street will sell for $332,400.00. The Town of Southampton donated the land. The homes were constructed under the direction of the Southampton Business Alliance Housing Initiative Corporation and the Southampton Business Alliance.
Qualified buyers had to meet 2017-2018 income levels established by the U.S. Department of Housing and Urban Development.
Those guidelines are as follows:Income limitations apply according to the size of household and may not exceed:Household Size-Maximum Income
1) $93,050.002) $106,350.003) $119,650.004) $132,950.005) $143,600.006) $154,250.007) $164,850.008) $175,500.00
Applications were submitted with a non-refundable $50 application fee.
Applicants meeting the requirements are now entered into a lottery and will then be required to complete a formal application for income and employment/credit information. Applicants must also attend mortgage counseling with the Long Island Housing Partnership, a certified HUD counseling agency, and qualify to obtain a mortgage.
Only those who have not owned a home, property or shares of a home or property during the past three years were eligible for the program. Questions about the lottery should be directed to the Long Island Housing Partnership at (631) 435-4710 or the Town of Southampton Housing Office at (631) 702-1731.