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Expo Housing Lottery 51-80% AMI Qualifications

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 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.