Affordable Homeowner Repairs Assistance Program

The Wayland Municipal Affordable Housing Trust Fund (“WMAHTF” or “the Trust”) Affordable Homeowner Repairs Assistance Program (“the Program”) helps preserve owner-occupied affordable units in Wayland by providing funding to offset the cost of repairs and improvements related to health or safety. The Program is not intended to fully fund the repairs, but as a supplement to money that you put toward the repairs.

 

There is no guarantee that the WMAHTF will provide funding for your request. The Trust will not pay for work already completed.

Is your home eligible for the Program?
To be eligible, the property applied for must:
• Be located in Wayland
• Be occupied by the owner as the owner’s primary residence
• Have a recorded affordable housing restriction or similar device in accordance with Massachusetts Department of Housing and Community Development laws, regulations, and guidelines
• Not be in foreclosure
• Be current in payment of real estate taxes and other fees to the Town
• Be in compliance with the Zoning Bylaw or deemed to be a lawfully pre-existing nonconforming use or structure.

The property can be a single-family or multi-family home or a condominium unit. If the property
includes more than one unit, the grant will not exceed the proportionate share of the cost relative to
share of ownership.

The Program covers only extraordinary expenses, such as those relating to substantial repairs, system replacements, and condominium assessments for capital improvements. The Program will not fund unit maintenance, regular condominium fees or betterments, mortgage payments, homeowner’s insurance, or real estate taxes.

The work must be at least one of the following:
• necessary for or related to the health or safety of occupants of unit
• to address a structural deficiency
• imposed by a condominium trust or homeowner association for an extraordinary expense related to the physical condition of the property.

Prior to deciding on your application, the Trust may make an inspection of the relevant portions of your property. The Trust may also inspect the property to ensure that the work has been completed.

Requests up to $7,500 may be funded as grants with no repayment requirement, but there must be a deed restriction or other qualifying affordable housing restriction that ensures that your unit will continue to be classified as affordable. The Trust hopes that you will repay the Trust as soon as you are able. Whenever possible, the Trust will make payments directly to contractors, vendors, condominium trusts, and homeowner associations through the Town of Wayland Finance Department. Please note that this may be considered taxable income to you, regardless of whether the payment is made to you or to someone else for your benefit,

 

For requests between $7,500 and $15,000, the funds will be provided as a non-interest-bearing loan (0% interest), with the loan amount due when you sell, refinance, or vacate your unit, or your mortgage is foreclosed. In the case of a loan, the Trust will provide the money to you or you may assign the amount to the contractor(s), vendor(s), condominium trust, or homeowner association.

 

The Trust considers applications four times each year, usually in February, May, August, and November. Applications may be submitted at any time, but for consideration in that quarter, applications are due to the Town Building if on paper or by email to mahtfbmembers@wayland.ma.us by 5pm on January 10, April 10, July 10, and October 10, or on the first business day following if the due date falls on a weekend or federal or state holiday.

 

The Trust aims to have money available through the year. If your application is not funded for lack of available funds, you may request that it be considered in the following quarter.

What information do you need to provide?
You will need to submit documentation that shows:
• your unit has a permanent affordability restriction, usually in the form of a deed rider filed at the Registry of Deeds
• you are the owner, usually the property deed
• you live in the unit, which may include utility bills, mortgage bills, paycheck stubs, bank checks, or similar items
• the income and assets of all owners and all adult household members, so if other people own and/or also live in the unit, their income and assets are included (if aged 21 or older); documentation may include tax returns, paycheck stubs, bank and brokerage statements, and similar items
• that you are able to pay for the balance of the work, beyond what the Program would cover, which may include bank statements, letters or checks from other people, or similar commitment of funds
• the balance and monthly payments of your mortgage and other loans, if applicable
• that you have adequate coverage on your homeowner’s insurance, which includes the pages of your homeowner’s insurance policy that show what is covered and the limits of that coverage
• the current condition of the property needing repair or improvement, including photos, inspection reports, citations, and similar items
• the scope and cost of the work, usually by providing at least 2 estimates including scope of work from licensed and insured contractors and/or tradespeople
• you have tried to get funding from other sources, such as family, charitable funds, government programs, faith communities, and non-profit organizations.

Please note: The Trust is not liable for work undertaken at the property. You are responsible for
vetting the contractor(s), reviewing licenses and insurance, checking references, and any other
activities that a prudent owner would be expected to do.

What legal information do you need to know?
If the Trust approves your application, you may be required to sign documents that ensure the unit will continue to qualify as an affordable unit through a recorded affordable housing restriction or similar device in accordance with MA Department of Housing and Community Development laws, regulations, and guidelines. You may also need to sign a promissory note, loan agreement, grant agreement, or similar documents, which may be recorded with a lien on the property at the Middlesex South Registry of Deeds and will therefore be a public record and enforceable. You must use the funds consistent with your application and the grant award letter or terms of loan. If you are not able to use the funds as described, the Trust will rescind the grant or loan. Unless you have made false statements, provided false information, failed to sign necessary documents, pay fees that you and the Trust agreed to, or otherwise tried to get money from the Trust that you would not be entitled to receive, you may submit a new or revised application. If you receive a grant of up to $7,500, you will be asked, but not required, to pay back as much of the grant as you are able so that the Trust can continue to support other affordable property owners
in similar situations. The Trust will not take any action regarding repayment unless you have received funding on the basis of providing false information or otherwise misleading the Trust about your income, ownership, or residence, or the nature, scope, or cost of the work, or any other information relevant to this grant.

By accepting a loan from the Trust, you accept responsibility for repaying the full outstanding balance of the loan when any of these events occurs:
• You sell your unit
• Your unit is foreclosed
• There is a change in use or occupancy (e.g., if you move out, start renting the unit, or die)
• If you refinance your mortgage for cash (exceptions may apply depending on the expenses associated with the cash-out).
You may make payments toward your loan at any time prior to when you are required to pay. This will help the Trust continue to support other homeowners.

Who do you contact if you have questions?
Send an email to mahtfbmembers@wayland.ma.us.