The Town of Manteo is happy to introduce its Affordable Housing Program. This program is intended to provide housing of high quality located in neighborhoods throughout the community for households of all income levels, ages and sizes in order to meet the town's goal of preserving and promoting a culturally and economically diverse population in our community.
The Town recognizes the need to provide affordable housing to low and moderate-income households in order to maintain a diverse population and to provide housing for those who live or work in the town. Without intervention, the trend toward increasing housing prices will result in an inadequate supply of affordable housing for town residents and local employees, which will have a negative impact upon the ability of local employers to maintain an adequate local work force and will otherwise be detrimental to the public health, safety, and welfare of the town and its residents.
(as provided by the Department of Housing and Urban Development (HUD) for the year of 2014)
Maximum Household Income Calculations
Eligible Household Income Level: $55,440
Unit Costs (Land and House)
Price not to exceed: $194,040
Lot Costs (Land Only)
Price not to exceed: $48,510
ELIGIBILITY REQUIREMENTSApplicants must be 18 years of age.
Applicants must be United States citizens.
Applicants must provide their must provide their three most recent federal tax returns.
Applicants must secure their own financing and provide a pre-qualification letter from a mortgage lender.
Applicants must provide their two most recent pay stubs
Applicants must provide proof of address (a lease or utility bill).
IMPORTANT THINGS TO REMEMBER
APPLICANTS ARE REQUIRED TO OBTAIN THEIR OWN CLOSING ATTORNEY
PROPERTIES MAY HAVE COVENANTS AND BUYERS MUST COMPLY WITH ALL COVENANTS
The Flats www.renconstruct.com/\flatts.aspx
Outer Banks CDC www.obx-cdc.org
Cedar Bay www.cedarbaycommunity.com