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Expo Housing Lottery 50% of AMI

Friday, April 12, 2013

The Department of Housing and Community Development will award an opportunity to purchase a newly renovated house, by lottery, to a purchaser whose annual income is at 50% or below the Area Median Income (AMI). The applicant must qualify and secure a mortgage for 50% of the homes appraised value.

The three bedroom 2 ½ bath house is located at 1854 L Street, NE, and has been appraised at a value of $282,000.