What is a lottery and how does it work?
Affordable housing lotteries exist to ensure fair and equitable distribution of housing to eligible applicants. Lotteries are designed for the first-time home buyer (with some exceptions), including local working folks, and those over 55 who meet income/asset guidelines. Buyers income is typically between $35,000 to $70,000, approximately, depending on household size. Lotteries may occur at any time that a developer obtains permitting, so check back often or sign up to receive a lottery notification.
The workings of a lottery are very simple. All qualified applicants are pooled and chosen randomly. Winners are notified immediately. Should a winner not be able to purchase a home, the next applicant on the list is given the opportunity.
Housing Assistance Corporation is here to help you with the application process.