Wayside Condos

Canton, MA

Wayside Condos is a beautiful new condominium community next to Ponkapoag Golf Course in Canton, MA. Modern amenities in a fantastic location.

** Please note: Photos are of model unit

FEATURES

New construction
Modern kitchens
Designer finishes

https://www.maloneyaffordable.com/wp-content/uploads/2021/09/interiors-bamboo-plant.jpg

NEIGHBORHOOD

Just a few minutes from Canton center, we're located near Ponkapoag Pond and several golf courses, and we enjoy quick and easy access to I-95 and I-93.

JOIN OUR COMMUNITY / PRICING AND ELIGIBILITY

This is a BPDA affordable homeownership lottery for two 2-bedroom income restricted condominiums. 

Purchase Price: $290,500

BPDA Maximum Income Limit: 80% AMI
Please see the 80% column in the maximum income table below to find out if your household is eligible.

Maximum Asset Limit: $75,000
Includes retirement and real estate.

Selection by lottery. Use & resale restrictions apply.

2021 HUD Income Limits

Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area
Household Size50% AMI80% AMI
1 Person$47,000$70,750
2 Person$53,700$80,850
3 Person$60,400$90,950
4 Person$67,100$101,050
5 Person$72,500$109,150
6 Person$77,850$117,250

I AM ELIGIBLE!

Congratulations! This is an important first step in securing an affordable home for your household.  The next step is to submit your completed lottery application.

APPLICATION DISTRIBUTION PERIOD: September 8, 2021 – November 7, 2021

APPLICATION DEADLINE: November 7, 2021 

 

Completed applications with all required supporting documentation must be submitted by mail (postmarked) or email on or before the deadline.

Mailing Address:
Maloney Properties, Inc.
Attn: Wayside Condos Lottery
27 Mica Lane, Wellesley MA 02481

Email: WaysideCondos@maloneyproperties.com

Please note that all supporting documentation (paystubs, bank statements, taxes, etc. must be submitted on-time with your application. Applicants that fail to provide supporting documentation with their application will not be entered into the lottery. Late, incomplete or piecemeal will not be entered into the lottery, and applications sent to other emails, faxes, or addresses will not be accepted.

Applications will be reviewed for eligibility prior to the lottery. We will send emails to applicants upon receipt and processing of their applications. We will review applications to ensure they are completed correctly and that the proper documentation has been submitted.

All households who complete and submit an eligible application on-time will be entered into the lottery.

For more information, contact us:   781-992-5303   |   US Relay 711   |   WaysideCondos@maloneyproperties.com
Free language assistance is available for those whose primary language is not English or have limited English proficiency. For more information or reasonable accommodations for persons with disabilities, please contact us.

LOTTERY PROCESS

Applications will be distributed between Wednesday September 8th, 2021 through November 7th, 2021. Applications will be made available through e-mail, by mail, and in person during the scheduled distribution times. Applicants that prefer to submit a hard copy of the application (versus an e-mailed application) are required to mail the completed application back to Maloney Properties, Inc. The application must be postmarked on or before November 7th, 2021.

  1. Applicants who submit an eligible application along with a mortgage pre-approval letter by the deadline will then be entered into the lottery.
  2. All eligible applicants will receive an application number.
  3. The application number is used for the lottery to keep the identity of applicants confidential.
  4. Maloney Properties will then conduct a lottery after each eligible applicant has been assigned a lottery number (lottery #1 being first).
  5. Following the lottery, we will then show the unit to the top applicants based on the lottery waiting list.

The lottery drawing is estimated to take place on Zoom (online) on November 16, 2021 at 1pm. You do not need to be present at the lottery drawing. We will notify you of your standing following the lottery drawing.

FAQ / FREQUENTLY ASKED QUESTIONS

Income Questions:

How is my income calculated?
The household income is calculated based on the gross income of the household. Commissions, bonuses and other regular payments are included and considered part of the gross annual income.

I didn’t file taxes last year. What do I need to provide?
Individuals or households who did not file taxes must provide a verification of non-filing from the IRS in lieu of a tax return. To obtain the verification of non-filing, applicants should fill out a 4506-T form and file it by mail or hand-deliver it to an IRS office. The IRS will mail back a letter of verification which must be provided with the income materials given to the marketing agent. See the IRS website to download a 4506-T form.

I received a pay raise between the time I picked up an application and the time I was income certified and now I am over the income limit. What do I do?
Income is calculated at the time the applicant submits an application to the lottery agent, not during the application process or at the time of the lottery. Eligibility must be maintained from the time of the application pick up until after income certification verification. Unfortunately, if an applicant’s income is over the income limit, the applicant will not be eligible for the particular unit for which they applied.

I have children in school/college, how does this affect my application?
Income from children in school/college under the age of 18 is not considered towards the income of the household.

Are student loans considered income?
Student loans are not considered income and may not be used to income qualify.

I am separated from my spouse, does this affect my application?
Legally married couples shall both be considered part of the household, even if separated. Applicants with additional questions regarding this policy must speak with the marketing agent/seller.

I would like to appeal a decision regarding income eligibility. How do I appeal? Applicants who are rejected will receive a rejection letter in writing and will be given 7 days for the opportunity to appeal the decision.

Preference Questions:

What is the household size preference?
Within an applicant pool first preference shall be given to households requiring the total number of bedrooms in the unit based on the following criteria:

  1. There is at least one occupant per bedroom
  2. A husband and wife, or those in a similar living arrangement, shall be required to share a bedroom. Other household members may share but shall not be required to share a bedroom.
  3. A person described in the first sentence of (b) shall not be required to share a bedroom if a consequence of sharing would be a severe adverse impact on his or her mental or physical health and the lottery agent receives reliable medical documentation as to such impact of sharing.
  4. A household may count an unborn child as a household member. The household must submit proof of pregnancy with the application.
  5. If the applicant is in the process of a divorce or separation, the applicant must provide proof that the divorce or separation has begun or has been finalized, as set forth in the application.

Additional Questions:

When is the lottery?
The date of the lottery is listed above.  All applicants will receive notification of the date, time, and location of the lottery, as well as their application number. The lottery will be open to the public.

Do I have to attend the lottery?
No. All applicants will be notified of their lottery number after the lottery.

Can I rent out my unit?
No. You must agree to live in this property as your principal place of residence. In no event are you allowed to rent the property.