Get Started Today!
Becoming a part of U-lex is a journey toward stability and growth. Once eligible, a nominal reservation fee secures your place in this thriving community.
Getting started is easy!
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Create a profile: visit the HomeSight website to create a profile by clicking the Get Started button.
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Submit your information: upload your financial information to the secure HomeSight portal.
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Meet with us: meet with a HomeSight counselor to confirm eligibility.
Let Us Help
1. Create a Profile
5. Secure Your Unit!
4. Confirm Eligibility
3. Meet With Us
2. Submit Your Info
To purchase your home at U-lex, you must meet certain criteria:
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Income Qualification: earn less than 80% of Seattle's Area Median Income.
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First-Time Buyer: be a first-time home buyer or have not owned a residence in the previous 3 years.
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Owner-Occupancy: plan to live in the unit as your primary residence.
Once you're confirmed as eligible and pay a small reservation fee, you'll join our pool of approved buyers. We prioritize community preference with 50% of the units across various bedroom sizes reserved for qualified applicants. Additionally, 8 units are reserved for Veterans. We maintain a primary list of pre-approved buyers to ensure a smooth process from eligibility confirmation to reservation fee payment
Unit Qualification
Individuals in your household | Yearly gross income (before taxes) cannot be more than: | Monthly gross income (before taxes) cannot be more than: |
|---|---|---|
1 | $77,700 | $6,475 |
2 | $88,800 | $7,400 |
3 | $99,900 | $8,325 |
4 | $110,950 | $9,246 |
5 | $119,850 | $9,987 |
6 | $128,750 | $10,729 |
7 | $137,600 | $11,466 |
8 | $146,500 | $12,208 |
To qualify, your household incomes must not exceed 80% of Seattle’s Area Median Income.
In Seattle, this currently translates to an annual gross income limit of $77,700 for a 1-person household, $88,800 for a 2-person household, $99,900 for a 3-person household, and $110,950 for a 4-person household.
Please note that median income is adjusted annually, so these limits may be higher by the time the cooperative is completed.
What is the income qualification?
What is the average monthly cost?
# of Bedrooms | Average Unit Sq Ft | Unit Share Price | Co-op Maintenance Fee | Share Mortgage at 7 1/4%* | Total Avg Monthly Cost w/ Share Mortgage |
|---|---|---|---|---|---|
1 | 653 | $58,934 | $1897.12 | $321.63 | $2,218.75 |
2 | 863 | $77,838 | $2505.65 | $424.80 | $2,930.45 |
3 | 1015 | $91,532 | $2946.47 | $499.53 | $3,446.00 |
*The estimated Unit Share Mortgage cost is calculated as of 9.24.24 and subject to current interest rates. Note that this cost applies only if the Unit Share Price is financed by the buyer.