Parkside
STATUS:
BEDROOMS:
BATHROOMS:
HOME SIZE:
AVAILABILITY:
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Pending Construction
3 Bedroom
1 Bathroom
1268 Sqft.
10 Available
- 8 Missing Middle (60%-80% AMI)
- 2 Low Income (80%-120% AMI)
Brand new 3 bedroom, 1 bath, one-story single family home offers 1,268 square feet of living space split between and a partially finished basement. Large front porch to match the character of the surrounding neighborhood. Open concept main level living/dining area, with mudroom and full bathroom. A rear porch opens to a backyard, shed, and two car parking pad.
The beautiful new homes are located in the Garfield Park Neighborhood of Grand Rapids. Garfield Park, one of Grand Rapids most visited parks is just blocks away and Eastern Avenue, a bustling shopping and entertainment corridor is just East.
- Year Built: 2023
- Style: Single Family Home
- Total Finished Sq Ft: 1,268
- Basement: Partially finished
- Garage: Not included*
- Parking: 2-car Parking Pad
- Heat: Electric
- Water Heat: Electric
- Sewer: Public
- Water: Public
- Appliances Included: Refrigerator, Electric Stove, Dishwasher
- Washer and Dryer Hook-ups: Yes
- Homeowners Association: Yes
- # of Units in HOA: 42
- Dues Include: Lawn care of community spaces, snow removal, and lighting
- Pet Policy: Pets allowed
General Qualifications:
- Must be at least 18 years old.
- Must be a citizen of the United State, registered alien or have an individual tax identification number (ITIN).
- Completed all required steps in the DPCLT Homebuyer Checklist.
- Must have an annual household income which does not exceed 120% of the area median income.
- Must be able to qualify for a 30-year, fixed rate, conventional mortgage provided by a DPCLT partnered lender.
- DPCLT Homebuyers must sign a land lease and are subject to DPCLT Benefits and Regulations.
- MISSING MIDDLE – All homes are subject to benefits and regulations.
Income Qualifications:
DPCLT Homes at 2080 Union fall into one of two categories based on type and amount of subsidy: Missing Middle Homes and Low-Income Homes.
Missing Middle Homes:
- Sold at 75% of the appraised value to qualified buyers with household incomes between 80% – 110% AMI.
Low-Income Homes:
- Sold at 75% of the appraised value, with additional subsidies available based upon income.
Appraised Value: $295,000
Sales Price: $221,250
One Time Missing Middle Subsidy Provided: $73,750
| Mortgage: | $1,464 |
| Taxes: | $420 |
| Land Lease: | $50 |
| Emergency Savings: | $50 |
| Insurance: | $83 |
| Homeowners Association: | $15 |
| Total per month: | $2,081 |
*Low-Income Homebuyers qualify for additional subsidies based on income. Low-Income Homebuyers can also apply for down payment assistance up to $10,000 through the Dwelling Place Homeownership Fund.
DPCLT Orientation
Attend a DPCLT Orientation in order to move forward with the purchase of a DPCLT home. Orientations are offered bi-weekly.
DPCLT Pre-Application
Complete and return a pre-application via mail, email, fax, or in-person.
Homebuyer Education
Complete the HUD required “Introduction to Homeownership” course, which is offered by Habitat for Humanity, ICCF, and MSU Extension. DPCLT does NOT offer this course.
Financing
Obtain a pre-qualification from an approved DPCLT lender. Send pre-qualification letter to DPCLT via email, mail, fax, or in person.
Reservation
2080 Union Homes will be available for reservation once construction begins. Reservations require a $500 deposit. Buyers can complete a purchase agreement 90 days prior to the completion of construction. In order to reserve a home, buyers must complete all previous steps and submit the Homebuyer Pre-Purchase Checklist to David de Velder.
Reservation Schedule
- August 9th – Homes along Willard Ave (6-16)
- December 2023 – Homes along southern half of Linden Ave (19-25, 37-42)
- April 2024 – Homes along northern half of Linden Ave (26-36) and model homes along Hazen St (1-5)
Closing
Once you’ve completed all of the previous steps, you can select your ideal home and complete a purchase agreement.
Style Locations in Development
