Wellesley Hollow Unit 105
Wellesley Hollow, Affordable Ownership Condo Resale, in a professionally managed, 55+ community. This 2 bedroom 2-bathroom condo features a common club room, fitness center and in unit laundry and is conveniently located near shopping, Morses Pond, library, train & highways. This unit is Age-Restricted to Households 55+. One Household member must be over 55. Residents under the age of 21 not permitted unless they are the children of the age-qualified resident
Professionally managed building
Common club room
In Unit Laundry
Wellesley is a picturesque town with pristine homes and green space, and a strong academic pedigree too.A lush landscape dotted with elegant colonial-style homes, Wellesley is a close-knit community rich with history and culture. Home to Wellesley College and Babson College, Wellesley is considered one of the most educated towns in the United States and has the highest percentage of adults with at least one college degree in the country. The highly regarded public school system and easy access to downtown Boston are attractive for professionals with families. Wellesley is also a town that celebrates creativity, with a large population of artists and media professionals who help shape the town’s character through local programs, organizations, and galleries. Downtown Wellesley offers quaint shops, gourmet specialty grocers, cafes, and eateries, from steakhouses to Spanish tapas to sushi. Wassik’s Cheese Shop is one of the area’s most renowned sellers of artisanal cheese and Tutto Italiano is a must-try for their Italian delicacies.
JOIN OUR COMMUNITY / PRICING AND ELIGIBILITY
Number of Bedrooms: 2 bedroom
Purchase Price: $291,500
HUD Maximum Income Limit:80% AMI
HH Size 1 – $78,300
HH Size 2 – $89,500
Maximum Asset Limit: $150,000
The next step is to request an application.
FAQ / FREQUENTLY ASKED 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.
Condominium Fee: $174 per month
Square Feet: 1,022 SF
Taxes: 2022 Gross Tax $2,674.72
What is the pet policy? Pets allowed with restrictions
Is there parking with the unit? Yes, 1 assigned parking spot