PENDING | 4320 Attra St, Austin, TX 78723
- Listing Price: $188K
- 2 Bed/2 bath
- Home Size: 878 SF
- Lot Size: 680 SF
- Built in 2018
This home is part of the Mueller Affordable Program through Community Wheelhouse. The sale is subject to various income and resale restrictions. You can find more information below.
Why is this price so low?
This home is part of the Mueller Affordable Program, a program designed to provide housing that is affordable to families making 80% of median family income in Austin. As prices continue to rise in Austin and the median sales price reaches well above $400,000, it is difficult for many families to afford housing in Central Austin. This program is one initiative designed to address that issue.
Can anyone buy this home?
The program has various income restrictions and rules, so any interested buyer must meet those requirements of the program, and qualify for lending with one of the preferred lenders. More resources below.
Is the price negotiable?
Due to the nature of this program, the sales price is not negotiable, either higher or lower. It is fixed by Community Wheelhouse.
What happens if I buy this and want to resell it someday?
Any future resale is subject to certain restrictions. The intention is to keep the home within the affordable program, so the future resale price will be decided by Community Wheelhouse. Furthermore, there are certain restrictions on how much appreciation the owner can collect when the home is resold. Appreciation is capped at 2% per year. More details on this in the resources.
For more frequently asked questions and detailed answers directly from the Mueller Affordable Homes Program, download this resource.
If based on this information you’re still interested in this home and this program, see the following.
Step 1: Review the Mueller Eligibility Guidelines
First, you’ll want to check that you believe you meet the basic eligibility guidelines. These include income, assets, ability to provide certain documentation, and other requirements. For the full list, download the Mueller Eligibility Guidelines here.
Step 2: Apply for the program through Community Wheelhouse
Using the Mueller Eligibility Guidelines in Step 1, gather all required documents. These include
- Two (2) months of most recent paystubs
- Two (2) most recent tax returns
- Three (3) most recent balance statements for all bank accounts and any investment accounts
To apply, you’ll want to review pages 1-3 of the eligibility guidelines, use page 4 as a guide to gather all relevant documents and sign page 5.
You can submit documents and signature page directly to Community Wheelhouse by email at firstname.lastname@example.org.
If you already have approval from Step 2 you can proceed to step 3.
Step 3: Apply for financing through one of the four approved lenders
Start an application for mortgage pre-qualification through ONE of these four approved lenders. Each of these four of these lenders is familiar with the program and look forward to helping you.
Step 4: View the Property
Agents, please consult the MLS for showing instructions and to make an appointment.
Buyers, if you are not already working with an agent and would like to be connected with someone who is familiar with the Mueller Affordable Program, please email email@example.com and we’ll be happy to assist you.
Due to the specific requirements of the program, we are asking that any interested buyers consult the eligibility requirements and speak to a preferred lender (Steps 1 and 3) before requesting a showing. While we also encourage you to apply through Community Wheelhouse (Step 2) we are not strictly requiring that for showings as we understand it is a more significant time commitment.
Step 5: Make an Offer
Once you have completed all four previous steps, you may submit an offer.