Homeowner Pre-Application for Subsidized Homes

Equal Housing Opportunity

Essex County Land Bank is committed to the principle of equal housing opportunity. We do not discriminate based on race, color, religion, sex, disability, familial status, national origin, or any other protected class. All applicants will be treated fairly and consistently.

Important Applicant Information and Eligibility Requirements

Please take note that there are a number of conditions when applying for these loans.

Applicants must commit to living in Essex County year-round and preference is given to those who work in Essex County.

Applying for a Land Bank home is free. The Essex County Land Bank does not charge an application fee.

Only applicants with household incomes below 200% of the Area Median Income (AMI) are eligible to apply. Please note that there are a number of eligibility requirements and long-term conditions associated with Land Bank homeownership opportunities. Some homes funded by different programs may have lower eligibility thresholds, including lower AMI limits, which will be clearly noted on the application and property listing.

To apply for a Land Bank home, applicants must meet the following requirements:

Applicants must have a household income below 200% of the Area Median Income (AMI), unless a specific home or program has a lower AMI threshold. Homes funded through programs such as Move-In NY may have lower income limits, which will be clearly noted on the application and property listing.

Applicants must commit to living in Essex County year-round.

Preference is given to applicants who work in Essex County.

Applicants must complete HUD housing counseling.

Applicants must be able to obtain mortgage prequalification or approval for the financing option of their choice.

Permanent Deed Restrictions

Land Bank homes are subject to permanent deed restrictions designed to preserve long-term affordability, year-round occupancy, and community benefit. These restrictions run with the property and remain in place after the initial sale, binding future owners, heirs, successors, and assigns.

Deed restrictions may include, but are not limited to, the following:

The home must be occupied as the homeowner’s primary residence.

The home cannot be rented, leased, or used as a short-term rental without the express written consent of the Essex County Land Bank or its successor.

If the homeowner chooses to sell, the home must be sold to another income-qualified buyer who agrees to assume and follow all applicable deed restrictions.

The Essex County Land Bank has the first right to purchase the property if the homeowner decides to sell. If the Land Bank no longer exists, this right transfers to Essex County.

The property must be properly maintained and kept in good condition and repair, including compliance with applicable local and state laws, payment of property and school taxes, maintenance of insurance, and preservation of safe and habitable conditions.

Homeowners must submit an annual maintenance declaration, provide proof of property and school tax payments and insurance, and allow required site access for inspection. The deed form currently identifies March 1 as the annual submission date.

Additional deed restrictions, affordability requirements, resale conditions, subsidy recapture or equity formula provisions, lien requirements, inspection requirements, or program-specific requirements may apply depending on the home, funding source, or program. Any additional requirements will be identified in the application materials, property listing, and closing documents.

Mortgage, Real Estate, and Closing Costs

Mortgage, real estate, and closing-related costs are separate from the Land Bank application process. These costs are determined by the applicant’s chosen bank, lender, mortgage broker, realtor, closing attorney, or other professional service provider.

Applicants are responsible for selecting their own lender, mortgage broker, loan product, realtor, and closing attorney. The Land Bank does not require applicants to use any specific bank, mortgage broker, lender, realtor, attorney, or type of mortgage.

Buyer-paid mortgage, real estate, and closing-related costs are standard in most real estate transactions. Any fees charged by a lender, mortgage broker, bank, realtor, or closing attorney are the applicant’s responsibility. These may include, but are not limited to, application fees, credit report fees, appraisal fees, underwriting fees, closing costs, realtor commissions, attorney fees, or other mortgage, purchase, or closing-related expenses.

These fees are set by the applicant’s chosen professional service providers, not by the Land Bank. The Land Bank does not receive, collect, share in, or benefit from any such fees.

Applicants should ask their chosen lender, mortgage broker, realtor, and/or closing attorney directly about any costs associated with mortgage prequalification, mortgage application, loan approval, purchase representation, and closing. Policies, requirements, fees, and eligible mortgage products vary by lender and provider.

Fair Housing, Equal Opportunity, and Applicant Choice

The Land Bank follows all applicable Fair Housing laws and requirements. As part of that commitment, the Land Bank does not steer applicants toward any specific lender, mortgage broker, realtor, attorney, neighborhood, financing product, or professional service provider.

The Land Bank follows all applicable Fair Housing, Equal Opportunity, and anti-discrimination laws and does not discriminate in the application, selection, sale, financing coordination, or administration of its homeownership opportunities. Reasonable accommodations may be requested by applicants with disabilities.

The Land Bank also does not make recommendations or referrals for specific realtors, lenders, mortgage brokers, banks, attorneys, loan products, or closing professionals. Applicants must independently choose any professionals they wish to work with. This includes selecting their own realtor, lender, mortgage broker, bank, loan product, and closing attorney.

Questions about which mortgage type is appropriate, what loan terms may apply, what realtor representation may involve, or what closing costs may be required should be directed to the applicant’s lender, mortgage broker, HUD-certified housing counselor, realtor, and/or closing attorney.

The Land Bank reserves the right to require that all parties involved in a transaction comply with applicable laws, program requirements, grant requirements, deed restrictions, affordability requirements, and closing documentation standards.

Homeowner Pre-Application for Subsidized Homes

Applicant Info

 

Household Info

Total Number of People in Household

 

Primary Applicant Employment

Employment Status

 

Co-Applicant Employment (if applicable)

Employment Status

 

Annual Household Income

 

Please Answer Yes or No

Do you commit to living in Essex County year-round?

 

Are you or any household members currently employed in Essex County?

 

Are you applying as a family?

 

Supporting Documents

Maximum file size: 516MB

 

Maximum file size: 516MB

 

List Three References

 

Conflict of Interest Disclosure

Do you have any relationship with Essex County Land Bank board members, staff, or contractors?

 

Certification and Signature

By clicking the SUBMIT button below, I/we certify that the information provided in this application is true and complete to the best of my/our knowledge. I/we understand that providing false information may result in the denial of my/our application.