- Department Home Page
- Community Planning
- Economic Development
- Environmental and
Transportation Planning - Housing
- Community Development Block Grant
- Lead-Safe Cambridge
- About the Department
- Popular Services
- Community Calendar
- Contact Us
- Demographics
- Forms
- Housing Services
- Maps
- Parks and Open Space
- Planning Board Agenda
- Publications
- Zoning Ordinance and Map
- Site Map
- About This Web Site
Use the Site Map to navigate
the site
Affordable Housing Resale Restriction
The City requires that buyers participating in the City's affordable housing and financial assistance programs sign an Affordable Housing Agreement and Mortgage for most ownership properties. A summary follows:
To promote affordable housing, the City of Cambridge provides funds to construct, rehabilitate or reduce the purchase price of ownership units throughout the city. This allows households of low or moderate income to purchase homes at a reduced price.
Each buyer enters into an Affordable Housing Agreement with the City which requires that the buyer occupy the unit as their principal residence, and that they sell their unit only to another income-eligible buyer.The future resale price will be based on the original purchase price plus an annual return on equity based on the buyer's downpayment and principal payments on the mortgage as well as allowances for eligible capital improvements.
For More Information
For more information about affordable housing opportunities in Cambridge, please call the Housing Information Line at 617/349-4622 or send an email to Michelle Moran at mmoran@cambridgema.gov. The Community Development Department TTY line is 617/349-4621.
Go
to Affordable Homeownership Programs
Return to Housing
Division
Return to Community
Development Department home
