Lincoln Place
Lincoln Place
Frequently Asked Questions
When will the project be complete?
The project was complete in 2010. Units can be constructed at any time.
How much money do I have to put down?
That requirement is determined by your mortgage lender, but typically, no less than 10% of the total estimated cost of land and construction will be required. Down payment assistance is available to certain qualified buyers. Click here to learn more.
How do I arrange financing?
You will need to make an appointment with your banker (lender) or USDA (see lender list). They will go over your income and expenses, credit report, etc. to qualify you for a construction/purchase loan.
How do I know if I qualify for down payment assistance?
After you have been approved by your lender, you will fill out the application with HDC. HDC verifies your family size and income to see if you are at or below 100% of the Area Median Income. If you are, you qualify for the $25,000 down payment assistance.
Are rentals available?
No, all units in Lincoln Place will be owner/occupied.
Do I have to arrange my own contractor?
Yes. However, if you do not know of a contractor, HDC has a list of local contractors for you.
Are there covenants?
Yes, there are covenants for both the townhomes and the single family homes. These can be obtained from the HDC office located at 1422 12th Ave.
Is there a home owners association (HOA)?
Yes, there is an HOA for the town homes on Valerie Circle.
What are the HOA fees and what do they cover?
Fees are $75/month and you receive the following services:
- Weed and other actual or potential nuisance abatement or control of common areas.
- Snow removal of the driveways, parking spaces located on private property and public and private sidewalks in the Subdivision.
- Fertilizing, spraying, mowing and grass removal of private property lawns.
- To provide disease control and maintenance of trees and shrubs in common areas..
- Construction and maintenance of any potential common area structures including but not limited to sidewalks and signs.
Are pets and children allowed?
Yes. Lincoln Place is a family friendly neighborhood where “Neighbors are Welcome”
Is a second phase of this neighborhood being planned?
Land is available to the east of the walking path that can be developed for housing in the future.