Imagine the Possibilities - Day Dream a Little!
Quetzal Consulting presents:
512 Ocean Avenue
Jersey City, 07305
Garden State Community Development Corp.
Stay tuned !
Regarding This Property:
You are viewing this message for one or more of the following reasons:
The application deadline has passed.
A lottery has been conducted and a closed waiting list exists.
Applicants have been officially Certified by The City and have been offered a unit by the property owner.
All the above has transpired and all units for this property have been filled.
We look forward to sharing more affordable housing listings with you in the near future!
Thank you for your inquiry.
Affordable Housing Condominium Details
*Income limits and price subject to change without notice. Minimum deposit required*
765 sq. ft.
Stainless steel appliances
Microwave / Stove
Sleek - modern finishes
Engineered Hardwood Floors
- Accessibility to Various transit options
- Close proximity to Liberty State Park and other public parks
- Close to NJ Turnpike Entrance
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This is an equal housing opportunity.
We pledge to the letter and spirit of U.S. Policy for achievement of equal housing opportunity throughout the Nation.
We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, religion, sex, handicap, familial status or national origin.
About this project:
At 512 Ocean Avenue, (2 ) Two Bedroom units have been set aside for applicants
whose combined household income meets the criteria for this affordable housing program.
Quantity: 2 Unit Type: Two Bedrooms Condominiums
Utilities are not included.
Please read below income limits and click on RULES & REGULATIONS button before
proceeding to the preliminary application at the end of this page.
*Income limits and rents are subject to changes without notice*
Project Preference Offered to:
Jersey City Residents Residing in The Following Areas:
Ward A and Ward F
In accordance with the agreement for this project
What are the income limits for this project ?
This project has units that are available to“moderate income” qualified applicants whose combined household income, including assets, meet the criteria for this affordable housing project “Moderate Income” is defined as the total combined gross annual income for all members of a household whose total income is greater than 60% but does not exceed 80%, of the area median income for the Jersey City FMR Metro Area as defined by the US department of of Housing and Urban Development for 2023.
*Based on 2023 Income Limits for Jersey City, NJ HUD Metro FMR Area*
are as follows:
Maximum income 80% of AMI
1 Person Maximum Income $68,150
2 Person Maximum Income $77,850
3 Person Maximum Income $87,600
4 Person Maximum Income $97,300
5 Person Maximum Income $105,100
Is there a lottery for this project ?
There is No Lottery. First Come First Served.
What is the estimated price per month ?
Approximate Down Payment : $3,500
Estimated Monthly Cost: $1,100
ESTIMATED PRICES AND COSTS ARE BASED, ON CURRENT 6.5% INTEREST RATE ON A CONVENTIONAL 30 YEAR MORTGAGE, LENDER DOWN PAYMENT REQUIREMENTS AND COMMON CHARGES & ARE SUBJECT TO CHANGE; MONTHLY COSTS INCLUDE TAXES, HOA FEES, MORTGAGE; INSURANCE,. * UTILITIES ARE NOT INCLUDED * INCOME LIMITS AND PRICES SUBJECT TO CHANGE WITHOUT NOTICE *
What is the Criteria?
Income below the maximum Income limit based on family size
Must be a first time homebuyer
Homebuyer counseling by a certified HUD counselor will be required before closing
Must have own funds of at least 3.5% of purchase price
Minimum Credit Score of 680
The Unit Must Be Taken As The Primary Residence
Other Restrictions and Requirements May Apply
Is there a waiting list ?
First Come First Served
Is there a Preference for this Project ?
1st Preference: The addresses on the streets/avenues between Union & Woodlawn,
Ocean & Bergen; For example: an applicant residing at 100 Ege Ave would get priority, 2nd Preference: Ward A & Ward F, 3rd Preference: Jersey City Residents
Where are units available?
Occupancy date: Immediately After Closing
Info. available in: Spanish, Arabic, Urdu, Gujarati and Hindi upon request
*Read all Rules before you apply*
Where do I apply ?
If you have read all the rules and regulations for this project please proceed to the below preliminary application.
Supporting documents are NOT necessary at this time.