Affordable Home Ownership typically addresses household income up to of 80% of area median income. Island towns also designate Community Home Ownership opportunities for household incomes between 80% and 150% of area median income. Lender standards dictate income minimums so that a prospective homebuyer’s gross income generally falls between 50% and 150% of area median income to satisfy program and lender requirements. Please see income levels on the DOCUMENTS page.
The Housing Authority maintains a database of those households interested in affordable home buying opportunities offered on Martha’s Vineyard by towns, organizations or developers. Completion of the Homebuyer Clearinghouse Form allows the Housing Authority to contact households directly when specific opportunities become available.
The Housing Authority further assists towns and developers with the lottery of homes and homesites, provision of homebuyer education training to lottery participants and service as an affordability monitor for deed restricted properties.