Wellfleet Creates Program to Aid First-Time Homebuyers

WELLFLEET – A program has been created by the Wellfleet Housing Authority, the Wellfleet Affordable Housing Trust, and the Wellfleet Local Housing Partnership to aid first-time homebuyers purchase affordable properties in the town.

The 2023 Wellfleet Buy Down Program will be eligible to low-to-moderate income buyers looking to purchase a home.

Upwards of $175,000 in subsidies will be offered through the initiative, which was created as a way to increase affordable opportunities for ownership while also retaining local workers and boosting the region’s economy.

Properties purchased through the program would be affordable forever, as deed restrictions cap the maximum prices for homes in the future.

Certain requirements, such as not exceeding 80% of the median income for Barnstable County, must be met by potential buyers.

Two virtual meetings will provide more information on the program, along with its application and lottery process. The first will take place at 6 p.m. on January 23, while the second will be held on February 4 at 10 a.m.

Applications for the program are open now. They must be postmarked or submitted by 4 p.m. on March 31.

To learn more, visit www.wellfleethousing.org.

About Brendan Fitzpatrick

Brendan, a recent graduate from the University of Massachusetts Amherst, is one of the newest members of the CapeCod.com NewsCenter team. When not on the beat, you'll probably find him watching Boston sports.

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