Old Lyme Affordable Housing is a non-profit all-volunteer  organization with a mission to provide single family  housing to families affiliated with Old Lyme who wouldn’t normally be able to purchase their own home.

Since Old Lyme Affordable Housing owns the land while the homeowner is granted a 99-year lease, they now have an opportunity to own a home with a modest mortgage they can afford.

Specifically, if a families’ household income is less than the following,

Number of people in household:

1                  2              3              4                  5

Income  Limit:                $45,100      51,550     58,000       64,400         69,600

with very little other debt, they may qualify for the $118,500 fixed-rate mortgage required to purchase a home currently available in Old Lyme.  Income, however,  must exceed $45,000 to qualify for the above mortgage.

For those families or individuals meeting the requirements outlined above,  they are strongly encouraged to contact Bonnie Reemsnyder at  860  876-0213  or email:  b.reemsnyder@gmail.com  for more information and an application.