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Affordable Resale

Amazing opportunity: $215,000 2 bed, 2 bath condo 1,350 square feet

If you earn too much for the affordable program then all is not lost as Mueller Affordable Resale homes allow you to earn 1.5 times as much and still qualify.

The upper income limit for new affordable homes is 80% of the Austin Median Family Income (MFI). That’s a set of numbers published by the department of Housing and Urban Development, which varies by household size.

The good news if you don’t fit that 80% MFI income, the resale homes can be bought with an income of 120%  MFI.

The 2017 numbers are here

Program1 person household2 person household3 person household4 person household5 person household
Affordable income limit (new and resale homes)$45,600$52,100$58,600$65,100$70,350
Affordable Resale Homes income limit$68,400$78,150$87,950$97,700$105,500

Here are the questions we most frequently get asked about the homes and the program.

Can I rent out part of my Mueller affordable resale home?

Yes – you can rent out a room as long as you live there as your primary home. You can’t rent out the whole thing – that’s against the idea of the program.

Can I have bad credit and buy an affordable home?

You’ll need good credit to buy, as you’ll still be buying with a mortgage. There are a few lenders who really understand the process and the lending requirements, and in our opinion it’s worth working with a lender who has done this many times before. In general, you need to have good credit and low debt to qualify for the program.

How do I find out about affordable resale homes?

There’s a list maintained by the group that administers the affordable program. Since they have to be contacted when someone sells (they have first right of refusal to help another buyer purchase the home, and the first part of that is getting a current market valuation of the home), they know all the current homes coming up for sale. Or you could ask us – we represent people who buy these homes – at no cost of course.

What type of houses come up on the Mueller affordable resale market?

As of this year, we’ve had detached homes, row homes and condos appear in the resale program. Homes with 2-3 bedrooms, under 1450 sqft, all throughout the development.

What kind of down payment do I need for a Mueller affordable resale home?

It varies depending on the loan that you qualify – get in touch if you want us to connect you with a mortgage broker to discuss.

Can I buy an Mueller affordable resale home if I’m retired?

The rules state that you have to be working a minimum number of hours per month to participate in the program.

Can I buy a Mueller affordable resale home in cash or do I need a mortgage?

Mortgage. If you had say $220,000 to purchase a home, you would fail the asset test.

Do I need a Realtor to buy one?

As you’ve probably guessed, we think it’s a good idea. We’ve helped people buy affordable and affordable resale homes before, and there are some intricacies to the process which can make a big difference to your financial outcome – it depends how you negotiate them. And it doesn’t cost you anything to use someone with experience so if you’re interested in learning more, get in touch.

Get in Touch

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listing image courtesy Realty TX


New Restaurants At Mueller

Town Center construction is really ramping up, as are new restaurant options at Mueller. With 6,000 people currently living in the community and expected to raise up to 13,000 upon completion of developments, restaurants will be in high demand.

New Restaurants At Mueller

Photo by MuellerAustin

New Restaurants At Mueller

The developers have recently announced two new restaurants at Mueller. These local restaurants are expected to open in early 2017. The mentioned restaurants are Colleen’s Kitchen and Bao’d Up. These two restaurants take shape along with the Town Center itself.

Founded by Mueller residents, Ashley Fric and her husband Sean who is an owner of J. Black’s on Sixth Street, Colleen’s Kitchen will be serving dishes with a contemporary touch on southern classics such as fried green tomatoes, deviled eggs and mac & cheese. They will be open for lunch, dinner and weekend brunch.

On the other hand, Bao’ed Up is set to serve homemade bao which is a classic Chinese bun-like dish that is steamed and filled with meat and vegetables.

Other restaurants in Mueller:

  • L’Oca d’Oro, an Italian restaurant that serves a variety of dishes in individual or shareable family-style formats. They serve pasta, bread, cheese, meats, and liqueurs. L’Oca d’Oro also host regular monthly special events and celebrations where a curated menu that is specific to that event’s theme will be served.
  • Kyoten Sushiko, an upscale sushi restaurant offers some of the best sushi in Austin. They say that their sushi is a “harmonious experience between the unity of fish and rice”. They deliver sushi in an intimate setting that seats only 8 persons at a time but it will be a sushi experience that will compete on the world stage.
  • Xian Sushi and Noodle are the hand-pulled noodle specialists who serve sushi and other dim sum dishes. They also serve spicy chicken, vegetable rolls, coconut shrimp rolls, shumai and fried rice.
  • Alamo Drafthouse – the best film, food and drink experience is soon to come to Mueller. Serving the finest craft beers and multi-course menu where every meal is specially prepared. Watch, drink, eat, and enjoy is the whole ‘Alamo Experience’ that is coming soon to Mueller.

Mueller is a truly walkable neighborhood where you can dine and stroll. If you wish to know more about living in Mueller, call 512 215 4785 or check out some Mueller homes for sale here.