The Nantucket Housing Office is a private, not-for-profit corporation whose mission is to create community housing opportunities for Nantucket.
Rental Programs Homeownership Programs Resources & Education Planning & Advocacy	Nantucket Housing Needs Covenant program details The Nantucket Housing Needs Covenant Program (NHNC Program) is designed to offer home ownership opportunities to middle income islanders. The NHNC Program allows a property owner having more than one residential dwelling on a lot to sell one of these dwellings (at an affordable price), as long as the dwelling has the Nantucket Housing Needs Covenant. This Covenant, among other things, subjects the home to a sales price formula and a residency/occupancy requirement. The process involves purchaser and seller qualification with the Nantucket Housing Office, covenanting the home, and creating a condominium ownership of the two dwellings. Current income qualification level for purchasers is <150% of HUD Median Family Income for Nantucket ­ $122,700 (for more information on HUD Median Incomes, see http://www.huduser.org). The 2008 maximum sales price is $461,296. Please use the links below to access detailed information on the Nantucket Housing Needs Covenant Program. Some of these links jump to Adobe PDF documents; if you do not have Adobe Acrobat Reader, just click on the icon after the link. Start here: NHNC Informational Presentation    Purchaser Application:  Application     Seller Application:  Application   General Regulation   Condominium 150 Subprogram Regulation   Covenant     Applicable Law: Chapter 301 of the Laws of 2002 Chapter 100 of the Code of the Town of Nantucket Chapter 139 (Zoning) of Code of the Town of Nantucket, Sec. 7(G)   NHNC Transaction Details (includes attorney information and documents)	The Nantucket Housing Office also offers a Down Payment Assistance Program for qualified buyers.  More information is provided here.  Ask your lender to contact the Housing Office for more information.  Only your lender can make an application for you. The Nantucket Housing Office also offers a twice yearly Homebuyer Education Program.  See the Education Page for more information as it becomes available. Did you hear about the NHO's former Rehabilitation Program?  This program ended last year, but there are still State level options to help you pay for your septic and necessary repairs.  Contact MassHousing at http://www.masshousing.org for more information.
Funding for the Nantucket Housing Office comes from public and private grants as well as individual contributions. The Nantucket Housing Office is grateful to the Community Preservation Committee for providing start-up funding.