31 townhomes for sale
Central Highland Homes is building a community of 73 townhomes on Wintergreen Lane near Virginia Mason and Walgreens and a short walk to Island Village, Bainbridge High School, and Sakai Park. HRB is acquiring 31 units for our community land trust, where they will be kept affordable in perpetuity for households earning 80% or less of area median income.
The 789-square-foot townhomes have one bedroom and one office and are two stories. They share a common green space and parking for one car.
For more information, contact Homeownership Program Director Sherri Raines at 206.842.1909, ext. 19 or sherri@housingresourcesbi.org. (Please note that translation services are available upon request.)
Click here to learn more about this Central Highland Homes development.
Click here to review the Wintergreen Homebuyer Orientation.
Making homeownership affordable
The base price for homes in Phase 1 is $369,000. However, homebuyers will not pay this full amount. HRB will contribute a subsidy, and a portion of the price will be paid with sweat equity through the Self-Help Homeownership Opportunity Program (SHOP). Buyers will participate in the final stages of building of their homes, typically contributing 60 hours of work over three months. No experience is required. In addition to funds from the SHOP program, HRB was awarded a competitive $2.5 million grant from the Washington State Department of Commerce Housing Trust Fund in 2024. HRB anticipates lowering homes, on average, by $95,000, so that the final cost to first-time homebuyers is $274,000.
Homebuyers can apply online or with a paper application.
Wintergreen eligibility requirements
Income:
• Households must earn a gross income before taxes that is at or below 80% of the area median income (AMI) for Kitsap County (see chart).
• You must have proof of steady income for at least two years or an employment contract if newly hired.
• Sources of income include all wages, overtime, tips, self-employment, interest, dividends, social security, annuities, pensions, disability, alimony, child support, and most forms of public assistance.
• You must provide tax returns for the most recent two years and most recent 90 days of income statements.
Credit rating:
• You must have a credit rating with a FICO score of 640 or higher and show no significant delinquencies in the past year and no bankruptcies or foreclosures in the last four years.
• Your lender will pull a credit report including a FICO score. You can review your credit for free (no score included) at www.annualcreditreport.com.
Debt:
• Total housing costs cannot exceed 35% of your monthly gross income. Housing costs include principal, interest, taxes, insurance, ground lease fee, repair reserve fee, and homeowner’s association fees.
• Total debt, including housing costs, cannot exceed 40% of your monthly gross income. (Debt includes car payments, child support, student loans, credit card debt, etc.).
Assets:
• Total assets after close are limited to $300,000. Other lending programs or partner organizations may have smaller asset limits.
• Assets include savings, savings in retirement plans, investments (stocks, bonds, gold, etc.), land, mobile homes, recreational vehicles, boats, art collections, or similar items.
• Household possessions, cars, or assets from an active business are not counted as assets.
• Exceptions to the asset policy may be granted in unusual circumstances at the discretion of HRB.
• Income will be calculated on assets using actual returns or the HUD Passbook rate and will be added to the income calculation.
| Household size | 80% AMI * |
|---|---|
| 1 | $67,050 |
| 2 | $76,600 |
| 3 | $86,200 |
| 4 | $95,750 |
| 5 | $103,450 |
*HUD median income in Kitsap County as of June 1, 2024. AMI changes annually.
Community land trust homeownership requirements
• Homeowners must use the property as their primary residence.
• Homeowners must sign a ground lease with HRB prior to purchase.
• Homeowners cannot own other real estate. If applicant owns a home but is selling due to divorce or other circumstances, it must be sold before completing the purchase of a community land trust home.