Affordable Owner-Occupied Single-Family Home
147 Gridley Street
Now Taking Applications
New construction 3 bedroom, 2 and 1/2 bath, single-family home with one-car garage and partial basement.
Approximately 2,484 sq. ft including garage and partial basement.
Gas forced air heating and water heater.
All electric kitchen appliances including refrigerator, stove, microwave, dishwasher, washer & dryer. Stone countertops.
Electric garage door opener.
Priced well below market value at $160,000
Only available to a first-time homebuyer defined as (i) you have never
owned a home before, or (ii) you have not owned a home in the past 3
years.
Household Income must be less than 50% of Area Median Income for
Bristol Connecticut
Qualifications - PLEASE READ CAREFULLY
To qualify you must have an income, credit rating, debt, and down payment that qualifies you to obtain a mortgage for the $160,000 purchase price. Generally, this means you will need an income of at least $54,000 or more per year, assuming sufficient cash and/or assistance for a down payment of $25,000 and closing costs at the time of closing. Factors such as your credit rating will effect these estimates.
Your household income must also be less than 50% of Area Median Income for the City of Bristol adjusted for your household size. For example, if there are 4 people who will live in the home including children, the maximum household income you can make to qualify is $60,900 per year. Use this table to determine the upper Income Limit to qualify.
Other qualifications and deed restrictions on the resale of the home apply. See the application package download for more details. Open House will be held in early August. Information Meetings are being held and attendance is recommended. The buyer will be selected from a pool of qualified applicants in late August.
How to Apply
To apply, after attending an information meeting, please fill out our application. Then, provide us with the requested documentation of your income and assets, and obtain a Pre-Qualification letter from a bank or mortgage company of your choice showing that you qualify to purchase a $160,000 home. Note the qualifications listed as well as the restrictions on the home.
The home will be sold by NHS New Britain directly to the buyer; no brokers should respond. We do not pay broker fees.