ADUs & Housing News
STATE & NATIONAL
October 16, 2023
New FHA Policy Allows ADUs to Boost Borrowers' Qualifying Income
The U.S. Department of Housing & Urban Development, through the Federal Housing Administration (FHA), today announced a new policy which allows lenders to count income from small units of housing built inside, attached to, or on the same property as a primary residence (Accessory Dwelling Units (ADU)) when underwriting a mortgage. This change allows for the inclusion of rental income from the ADU in the borrower’s qualifying income and would allow more borrowers to qualify for FHA financing for properties with ADUs, including 203(k) Rehabilitation mortgages.
October 18, 2023
Healey-Driscoll Administration Unveils $4 Billion Affordable Homes Act
The Affordable Homes Act would also allow accessory dwelling units less than 900 square feet as of right throughout the state with the ability for communities to set some reasonable restrictions. It is estimated this change could create more than 8,000 accessory dwelling units over five years.
ADUs & Housing News
ADU Incentive Given to Eastham Family
The Lower Cape Housing and ADU Resource Center was delighted to give out their first ADU post-construction incentive to an Eastham family, that allowed for their daughter and partner to remain on Cape, as much-needed, year-round professionals.
Year-round rental: Cape groups match potential tenants with local homeowners
Clarke, along with her mother, sister, 4-year-old niece and a friend moved into the year-round, five-bedroom, two-bath rental on Feb. 1. She and her family have been looking for a house to rent for five years.
Prior to moving into her new home, she had been living at the Truro Motor Inn since 2018. Her mother had been there since 2016.
Housing News from
Fall Town Meetings
PROVINCETOWN HOUSING RELATED VOTES IN FALL TOWN MEETING:
On Monday, 10/23/23 residents of Provincetown came out to vote on various warrants, including many related to housing.