Eligibility Guidelines

NHSH Eligibility Guidelines and Selection Process for Homeownership 

North Haven Sustainable Housing’s mission is to provide housing opportunities to sustain a year-round island community on North Haven. The mission shall be accomplished by developing residential properties for sale to island individuals and families, by creating and operating year-round rental housing for individuals and families. 

NHSH attempts to target ownership and rental housing options to those who cannot find or afford other options by using eligibility criteria, based on both state and federal housing/income guidelines, with some added flexibility to meet the unusually difficult year-round housing market on the island. T

A primary factor of determining eligibility is an evaluation of an individual or family’s annual income. NHSH uses Area Median Income (AMI) (also sometimes referred to as family or household median income) as the standard criteria for determining income eligibility.  Refer below to the median household income for Knox County. The area median income calculations are adjusted annually and reported by the U.S. Department of Housing and Urban Development’s (HUD) and Maine State Housing Authority. 

For 2021, the AMI for a family of four in Knox County is $70,400. NHSH will update these figures annually. Please see the table below for calculations based on family size. 

*Please note that the following information are general guidelines that NHSH may use to determine eligibility. For each home ownership opportunity, NHSH will provide detailed eligibility requirements in the description of the opportunity and in the application materials.
 

NHSH Ownership Eligibility Guidelines 

1. NHSH’s establishes applicants for homeownership should earn 120% or less of the median household income for Knox County. Because of the significant lack of affordable housing opportunities on the open real estate market on the island, and because of the higher cost of living on the island, in some cases NHSH may serve individuals or families with incomes up to 200% of area median income, providing they meet other requirements and conditions.

2021 Knox County Area Median Income by Household

 
 

2. Applicants must be current residents and have resided on North Haven for at least the past year.

3. Applicants must agree to live in the house year-round as their primary residence and agree to abide by the terms of the affordability covenants.

4. Applicants must be capable of obtaining bank financing or otherwise verifiable financing sufficient to the sale price of the home, including closing fees and other associated costs.  Applicants must provide confirmation of financing during the application process. 

5. Applicants must submit a copy of the applicant’s most recent tax return to verify income. These documents will be kept highly confidential and will only be viewed by limited NHSH staff and the Treasurer of NHSH.  All documents will be returned to the applicant after the review process.  

6. Priority will go to those who do not currently own land or a home on North Haven (or elsewhere).

NHSH Homeownership Applicant Review and Selection Process

  1. Review the NHSH Eligibility Guidelines & Affordability Covenants.

  2. When a purchasing opportunity arises, NHSH will attempt to notify the community by sending out a notice by mail and will post the opportunity on the NHSH website. 

  3. Fill out a NHSH homeownership application. All applications must be submitted by the posted deadline.

  4. Applicants should seek pre-approval for a mortgage from your bank or be able to show proof of sufficient resources in order to be able to purchase the property. To obtain a pre-approved mortgage, contact your bank or other lender for more information on the process. This process can take considerable time, so it is best to begin the process as soon as you can. (Please fill out the NHSH homeownership application early in the process and if you need to submit the mortgage pre-approval after the application via email, please let us know).

  5. Applicants will be required to submit financial information (tax returns, pay stubs etc) to verify income and to determine eligibility.

  6. After the deadline for application submissions, all applications will be reviewed by a selection committee composed of members of the NHSH Board. This process and all information received by NHSH will be kept highly confidential.

  7. In the case of multiple equally qualified applicants who meet all of the NHSH eligibility criteria, NHSH will conduct a lottery to select the buyer. 

  8. After the review and selection process is complete, each applicant will be notified directly to inform them of the outcome of the decision.