Expo Housing Lottery 51-80% AMI Qualifications
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 between 51 and 80% of the Area Median Income (AMI). (See Income Table below.) The applicant must qualify and secure a mortgage for 50% of the home’s appraised value.
The three bedroom 1 bath house is located at 234 V Street, NE, and has been appraised at a value of $380,000.