Start planning now for the Phase 3 Launch this summer!
Phase 2 is sold out – Plan for Phase 3! TNB has been busy building new homes this winter. The neighborhood is taking shape. The landscaping and pedestrian connections will be completed this summer. Lincoln Park has 26 new homeowners that include nearly 24 kids and almost as many dogs! People just like you who want to live, work and play in the mountains. We are proud to call coaches, business owners, real estate brokers, ski patrol and instructors, managers and stay-at-home moms our neighbors.
Our hope is to launch the sales of Phase 3 this summer. We are still finalizing dates, but are focusing on July.
We can’t wait for summer to enjoy the views from the front porches, hear the babbling creek in the distance as the kids roll their scooters and bikes down the fresh asphalt. Any beverage tastes better as you watch the sunset over the mountains …
But before that happens, we have a little work to do. I thought it might be super helpful to address a few of the common questions I am asked by Buyers.
“When can we put an offer in on a house in Phase 3 of Lincoln Park?”
Be sure you are on the Lincoln Park Interest List! (see the contact form at the bottom of the homepage) Those buyers on the interest list will receive emails on the latest information, news and updates. At the Phase 3 Launch Party, we will release the final prices, floor plans and upgrades. At the launch party, you can sign up to write a contract on a Phase 3 home at the Launch Party, but be sure to have your Lender and SCHA approvals.
“How can we be ready for the Lincoln Park Phase 3 Launch?”
Another good question, I would suggest you start planning your strategy. Do you have a home to sell? How much downpayment will you need? Do you have good credit? Think about getting started on approvals and qualifications now to be ready for the Lincoln Park Phase 3 Launch.
1) Pre-qualification Letter from Lender: Homebuyers must have a pre-approval letter from a local lender including principal rate, type, terms and PITI payment.
2) Application & Approval from the Summit Combined Housing Authority (SCHA):
START YOUR APPROVALS NOW! The SCHA can start the approvals and Income qualification process for the Deed Restricted Phase 3 buyers now. Plan on a couple of weeks to obtain approvals. It can take longer based on volume levels. A home buyer interested in purchasing a Deed Restricted home must go through a qualification process (which may include income qualification) before the Lincoln Park Launch Party.
a) Income qualifying applies to homebuyers purchasing a home in 80% & 100% AMI Categories (Triplex, Double Homes & Small Single Family). Applications are available at the Lincoln Park or on the SCHA Website.
b) Homebuyers purchasing a home in 120% AMI Category are NOT Subject to Income qualifying. An Employment Affidavit will be verified by the SCHA. Employment affidavits are available at the Lincoln Park.Summit Combined Housing Authority: Contact Joy Klein – email firstname.lastname@example.org or Call 970.423. 7041
3) Writing a Sales Contract: Buyers must receive both approvals above prior to writing a Sales Contract on a Deed Restricted home.
4) Homebuyer Education: Optional: (Only Required for Down Payment Assistance) The SCHA offers HomeBuyer Orientation Classes once a month at the Buffalo Mountain Room at the Frisco County Commons Building. Contact the SCHA for a full schedule of classes.