Nassau County LI, NY

Home Forums Purchase Program Nassau County LI, NY

Viewing 7 posts - 1 through 7 (of 7 total)
  • Author
    Posts
  • #72003
    arrak888
    Participant

    Hi everyone,

    I’m a non-priority member looking to buy in Nassau County. I am having some difficulty finding areas that qualify due to the high taxes.

    Is there anyone out there who can guide me a bit by suggesting some Nassau County areas where they were able to successfully buy a home through NACA?

    Thanks in advance!

    #72004
    Nelsont
    Member

    The taxes shouldn’t factor into it…a targeted area is simply one where the median income is lower than that of the MSA…

    #72005
    arrak888
    Participant

    Thank you for the clarification! Also- I noticed that there’s a blanket 2019 FFEIC median income of $124,000 on the website, no matter what census tract you select, which is weird since there are very affluent areas of Nassau that are over that median income, is there a reason for that?

    Anyone have any success as a non-priority member in Nassau? What areas were you able to identify clusters of qualified homes? I’m finding that even in certain towns, one house qualifies but another a few streets away doesn’t.

    #72006
    Nelsont
    Member

    Well let’s get one thing straight if you are non-priority then you are ineligible to purchase in any area above the MSA median income so you can cross all of that off your list and not worry about it.

    Priority member = income is 100% or less of the MSA median and can purchase anywhere in the MSA

    Non-priority member = income is 100.01% or more than the MSA median income and is limited to targeted areas

    Targeted area = neighborhood (maybe several within a zipcode) that has a median income of 99.99% or less than the MSA median income. My guess is that house a few streets away while containing no physical boundaries is officially in a different neighborhood.

    Hopefully this helps.

    • This reply was modified 2 months ago by Nelsont.
    #72008
    arrak888
    Participant

    It does, thanks. I was just using the above-MSA as an example- what I was asking is if that’s normal for there to be one median income listed across the entire area.

    What I’m ultimately looking for then is targeted areas, since I’m having trouble identifying a few to hone in on.

    #72009
    Nelsont
    Member

    Don’t think I’ve seen that. Make sure you are looking at the 3rd line down.

    2nd line is the MSA income which definitely should be the same all around.

    3rd line is “Estimated Tract Median Family Income”. This is the income figure you want to look at along with:

    5th line is “Tract Median Family Income %” this is what determines targeted area. 99.99% equals a targeted area.

    Also use the 2020 numbers. They went into effect about a month ago.

    #72160
    caycolon
    Member

    Hi @arrak888, I too am looking in Nassau County. I saw that column with the $124,000 amount and thought that amount was the threshold for determining priority vs non-priority but I guess I’m misunderstanding.

    Yes, I agree…like you said, “one house qualifies but another a few streets away doesn’t”. You have to comb through the houses. Maybe a realtor familiar with NACA could be useful in your search.

    Also, @nelsont I need clarity on which year we are using 2019 or 2020 numbers, because my realtor told me last week that NACA reverted back to the 2019 numbers.

    TIA

Viewing 7 posts - 1 through 7 (of 7 total)
  • You must be logged in to reply to this topic.
Follow us on Facebook RSS Feed Follow us on Twitter