New Affordable Condos Coming to Monticello Avenue
By Jon Whiten • Feb 12th, 2009 • Category: Blog, News
The Jersey City Episcopal Community Development Corp. is currently marketing a total of seven much-needed affordable condominiums at 167-169 Monticello Ave. Pre-construction prices are $95,000 for a one-bedroom and $125,000 for a two-bedroom, and the condos will reportedly be decked out with hardwoods, stainless steel and all the modern trimmings.
Requirements for eligibility are:
- Must be 1st time home buyer
- Must have completed a first time home buyer training
- Must be able to obtain a prequalification from a mortgage company
- Must demonstrate a minimum of 3 percent of purchase price for down payment
- Willing to sign contract pre‐construction
Households also cannot exceed certain income limits. For a one-person household, the limit is $38,900; for a two people, the limit is $44,500; for three, it’s $50,050; and for a four-person household, the income limit is $55,600.
If you qualify, be sure to download the flyer and the application to learn more. Applications are due by March 20.
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Jon Whiten is the founding editor of the Jersey City Independent; he now works for a public-policy nonprofit in Trenton.
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