Town Hall Hours
A private developer, Fox Comm Way, LLC and officials of the Town of Foxborough have collaborated to provide this affordable housing opportunity in Foxborough. The development is situated on 5.6 acres of land on 8 Community Way in Foxborough and will consist of 20 single family.
Five (5) of the homes have been designated as affordable. The sales price is $238,600 for the homes and the estimated Homeowners Association fee will be approximately $26 monthly.
The homes will have 3 bedrooms, 1.5 baths or 2.5 baths (depending on style) and a 2 car garage. Two of the units have a full basement and three of the units are SOG, “Slab On Grade”. SOG units will have a utility only partial basement with bulkhead access. In addition, some homes will have decks and some will have a patio based on the site conditions. Please note, you do not get to choose the unit you want. You are simply offered the next available unit when your name comes up on the lottery drawing list, whichever unit it may be.
The Town of Foxborough, located at the intersections of Interstates 95 and 495, is known by its residents as “the Gem of Norfolk County”. The Emergency 911 System will connect you to both Police and Fire Departments instantly. The Town provides its own water, and electrical service is with National Grid. Recycling bins and schedules for your curbside collection are available from the Highway Department on Elm Street. Even though they pride themselves in their small town image and strong sense of community, Foxborough is also the host of Gillette Stadium which is the home of the New England Patriots and the New England Revolution Soccer Team. Concerts and other events take place during the warm weather at the stadium.
The affordable Single Family Homes will be sold at the initial sales price of $238,600. It is estimated that the total monthly cost of your mortgage payment including Principal, Interest, Real Estate Taxes, Private Mortgage Insurance (PMI), Hazard Insurance will be approximate $1,710 for the three (3) bedroom homes. There will be a Home Owners Association fee of approximately $26.00 per month. The total estimated monthly cost assumes a 30 year fixed rate mortgage at current rates with a 3% down payment. Your actual down payment must be 3%, of which half (1.5%) must be from the buyers own funds and the remainder can be a gift. You cannot rely on this estimated amount, this is only an estimate. Your actual mortgage payment may be different based on the actual interest rate and other factors. You should verify your actual mortgage payment with your lender and or accountant. This monthly mortgage payment is pre-tax and does not include the tax advantage of home ownership. To determine your net expense post tax you should consult with your accountant or tax advisor.
Public Q&A Workshop: Wednesday, October 25, 2017 at 7pm, Boyden Library
Lottery Drawing: Wednesday, November 29, 2017 at 7pm, Boyden Library
All affordable homes will have a “Deed Restriction” that will be recorded with the mortgage at the time of purchase. This deed restriction in part, limits the amount the home can be resold for or refinanced for and requires that it be resold to another affordable buyer. A summary of the Deed Restriction is included herein. You may also log onto our web site www.DelphicAssociates.com/documents for a complete typical Deed Rider or the Department of Housing and Community Development’s web site www.Mass.Gov/DHCD.