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Meeting tonight--are you eligible to apply to own one of the 2 affordable homes being built?
Release Date: April 02, 2008

2 affordable homes in Greenburgh for sale! Meeting tonight. The Town Board required two of the new townhomes that are currently being built to be affordable.
PAUL FEINER
APPLICATIONS FOR AFFORDABLE TOWNHOMES
NOW BEING ACCEPTED THROUGH APRIL 18, 2008
 
FOR
THE PRESERVE AT GREENBURGH
 
 
 
 
 
Conveniently located on Knollwood Road South of Rt. 119
3 bedrooms/2.5 baths
Garage
Basement
 
Income & Resale Requirements Apply
 
Purchaser’s Maximum Income Limits as of February, 2008
3 Person Household -- $73,150
4 Person Household -- $81,300
5 Person Household -- $87,800
6 Person Household -- $94,300
 
INFORMATION SESSION & HOMEBUYING WORKSHOP
APRIL 2, 2008 @ 6:30 P.M.
THEODOREYOUNGCOMMUNITY CENTER
32 MANHATTAN AVENUE
GREENBURGH
(across Rt. 119 from CrossroadsShopping Center)
 
FOR MORE INFORMATION CONTACT
HOUSING ACTION COUNCIL
(914) 332-4144
The complete offering terms are in an offering plan available from sponsor. 
File No. CD-07-0707
Application for Affordable Townhomes
At the
The Preserve at Greenburgh  
Located on Knollwood Road, Town of Greenburgh, New York
 
Complete Applications must be returned to:
Housing Action Council, Inc. at 55 South Broadway, 2nd Fl., Tarrytown, NY10591,
Postmarked or hand delivered by Friday, APRIL 18, 2008.*
 
APPLICANT:                                                                          Social Security #: _____________
Home Phone:                                                                Work Phone:                                                    
Cell Phone:                                                                   Email:                                                              
Address of Applicant:                                                                                                                            
CO-APPLICANT:                                                                   Social Security #: ______________
Home Phone:                                                               Work Phone:                                                    
Cell Phone:                                                                  Email:                                                              
Address of Co-Applicant:                                                                                                                       
(if different from applicant)
 
NUMBER OF PEOPLE IN HOUSEHOLD:             
 
                                               DATE                           RELATION TO                         GROSS
NAME                                OF BIRTH                       APPLICANT                         INCOME
                                                                                                                                                           
                                                                                                                                                           
                                                                                                                                                           
                                                                                                                                                           
                                                                                                                                                           
TOTAL GROSS HOUSEHOLD INCOME:             
FIRST TIME HOME BUYER:  Yes       No                If No, explain___________________________
PURCHASERS’ INCOME LIMITS as of February, 2008
No. of Persons                         Income Limit                   No. of Persons                           Income Limit
                  3                            $73,150                                 5                                         $87,800
                  4                            $81,300                                 6                                                     $94,300
 
*Application deadline may be extended at the option of the Housing Action Council.
                                                                                                                     OVER

 
 
DOCUMENTATION
 
             All household members must submit copies of the following documents with their application:
 
_________      2007 & 2006 Federal Tax Returns with all Schedules
 
_________      2007 & 2006 W2’s
 
_________      One Month’s Most Recent Pay Stubs and documentation of any other income, such as social security, child support, etc.
 
_________           3 Months of all Bank, Credit Union Statements and other assets such as CD’s, mutual funds, etc.
 
_________        Evidence of Down-payment
 
_________      $25 Application Fee (Non-refundable)
 
I hereby affirm that the information provided on this application (including any attached papers) are true and complete to
the best of my knowledge. I also understand and agree that falsified information or significant omissions may disqualify
me from further consideration for affordable housing.
 
     ______________________                                   __________________________                                _________________
           Applicant Signature                                        Co-Applicant Signature                                            Date
 
CONSUMER CREDIT INFORMATION
 
A consumer credit report will be requested in reference to the processing of this application, in connection with updates,
renewals, extensions, or monitoring of any credit granted. If such a report is received from a consumer reporting agency,
and credit is denied or the charge for such credit is increased wholly or partly because of information contained in the
consumer report from a reporting agency, you will be advised and supplied with the name and address of the consumer
reporting agency making the report. All information remains confidential.
 
Please sign on the line below acknowledging your notice of the statement on consumer-credit information and reporting.
 
    _____________________                          _________________________                                  _________________
          Applicant Signature                                        Co-Applicant Signature                                             Date
 
STATISTICAL INFORMATION
APPLICANT
 
RACE:      Black, not of Hispanic origin _____________      White, not of Hispanic origin _____________
 
Hispanic_______              Indian ________             Arab ________                 Asian ________              Other ________  _
 
Sex: Male____           Female: ______  _
 
CO-APPLICANT
 
RACE:      Black, not of Hispanic origin _____________          White, not of Hispanic origin _____________
 
Hispanic ________        Indian  ________      Arab ________          Asian ________        Other ________
 
Sex: Male ______         Female: _______
 

 
 
Affordable Townhomes
at
The Preserve at Greenburgh
 
AFFORDABILITY ANALYSIS
(all figures below are estimated)
 
Three Bedroom Townhomes
 
                                    Affordable Sale Price                                        $211,115
                                        Homeowner’s 10% Down Payment           (21,115)
                                    Mortgage Amount                                               $190,000
 
                                    Terms                                                       30 years @ 6.5%
 
                                    Principal and Interest                                       $    1,260
                                    Real Estate Taxes                                                        $       395
                                    Common Charges                                             $       280
                                    Monthly Housing Payment                            $    1,935
 
                                    Cash Requirements                                      
                                        10% own funds                                                       $ 21,115
                                         + Closing Costs                                                      $ 11,400
                                        Total Cash                                                   $ 32,515
 
                                    Minimum Income Needed to Qualify for
                                     Mortgage with a 10% Downpayment            $ 77,400
 
                                    Note: Additional downpayment required with lower incomes
                                    and debt that exceeds 5% of monthly gross income. Downpayment
                                    and/or closing cost assistance may be available.
 
 
 
Housing Action Council
55 South Broadway
Tarrytown, NY 10591
 
 
 
 
 
 

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