Am I Eligible?


Applicants must intend to occupy the home as their principal residence. This applies to all buyers regardless of income level.


A “household” means one or more persons who will live regularly in the home as their principal residence and who are related by blood, marriage, law or who have otherwise evidenced a stable inter-dependent relationship, or an individual.


The total gross income of an applicant and all other members of the household over the age of eighteen (18) may not exceed maximum income limits for Nantucket County adjusted for family size.

Area Median Income (AMI) figures for Phase II of Sachem’s Path can be found in the following tables:

80 PERCENT AMI (Subject to change)

Household Size 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person
80% of AMI $53 100 $60 650 $68 250 $75 800 $81 900 $87 950

100 PERCENT AMI (Subject to change)

Household Size 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person
100% of AMI $66 430 $75 920 $85 410 $94 900 $102 492 $110 084

150 PERCENT AMI (Subject to change)

Household Size 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person
150% of AMI $99 645 $113 880 $128 115 $142 350 $153 738 $165 126


For those applicants whose annual, gross household income fall within the 80% and 100% AMI categories (as shown above) you must be a First Time Homebuyer, defined below. For applicants whose annual gross household income in the 150% AMI (as shown above) according to household size, there is no requirement to be a First-Time Homebuyer.

Applicants are considered First Time Homebuyer(s) if:  the household has not  owned a home within three years preceding the application, with the exception of:

  1. displaced homemakers, where the displaced homemaker (an adult who has not worked full-time, full-year in the labor force for a number of years but has, during such years, worked primarily without remuneration to care for the home and family), while a homemaker, owned a home with his or her partner or resided in a home owned by the partner;
  2. single parents, where the individual owned a home with his or her partner or resided in a home owned by the partner and is a single parent (is unmarried or legally separated from a spouse and either has 1 or more children of whom the individual has custody or joint custody, or is pregnant);
  3. households that owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations;
  4. households that owned a property that was not in compliance with State, local or model building codes and that cannot be brought into compliance for less than the cost of constructing a permanent structure.

Down Payment: Some mortgages require 3% down or a different amount depending on the mortgage product you choose.

Prospective buyers will have to obtain a mortgage commitment 60 days prior to their closing from a lender stating the terms of their mortgage as stated below:

  • The loan must be from a lending institution.  Loans from private parties are not allowed.
  • Fixed interest rate through the full term of the mortgage.
  • FHA Loans do not work with restrictions.
  • Interest rate that is no more than 2 percentage points above the current MassHousing Rate.  This rate can be found at or call 617-854-1000.
  • No more than 2 points
  • Buyer down payment of at least 3%, half of which must come from the buyer (MINIMUM STANDARD).
  • It is strongly recommended that buyers not pay more than 33% (but no more than 38%) of their monthly gross income for principal, interest, property taxes, hazard insurance, private mortgage insurance and homeowner association fees.

You can click here to find a list of lenders who are well informed about the Sachem’s Path homes. You will need to submit a mortgage pre-approval from a bank with your Lottery Application.


Prior to purchasing a home at Sachem’s Path all buyers must complete an accredited Pre-Purchase Workshop series. These workshops teach first-time buyers everything they need to know to prepare to purchase their first homes. Classes are conducted by Housing Nantucket, Housing Assistance Corporation and are available in person and online.