“Nolan Way” at Summit Road
Nolan Way Module Setting
Application Information
Homes
2 Nolan Way - 3-Bedroom, 1.5-Bath, 1,564 sq. ft. plus full basement - $350,000
4 Nolan Way - 2-Bedroom, 1.5 - Bath, 1,274 sq. ft. plus full basement - $300,000
Application Window
Mount Desert 365 will accept applications for a Nolan Way home purchase between 9 am on January 12 and 5 pm January 13 via three channels:
Submitting online via this webpage. The online application form will go live at 9am on January 12.
Application (PDF available for download below) and supporting documents emailed to community@mountdesert365.org
Application and supporting documents hand delivered to the office at 6 Old Firehouse Lane, Northeast Harbor, ME 04662 between 9 am and 5 pm, within the application window.
The downloadable application form will be available here for review and download as of December 9. NOTE: WE WILL NOT CONSIDER APPLICATIONS FOR NOLAN WAY SUBMITTED BEFORE THE APPLICATION WINDOW OPENS.
We will review applications received during this window to determine all eligibility criteria have been met, including the submission of other required documentation as detailed below. Only complete applications will be considered. Please take time to review the eligibility criteria carefully before applying.
One buyer will be selected for each home from the pools of complete and eligible applications, by lottery, by or before close of business Monday, January 19.
The applications not selected as buyers for Nolan Way will serve as a waiting list for future home sales and be placed in a queue in order or receipt. Please note that we cannot guarantee when future homes will be available, but estimate it could be up to two years.
Application
Please be prepared to provide the following information on your application form:
Unit selection (3-bedroom or 2-bedroom).
Applicant and co-applicant information - current address, phone number, email address, date of birth, employment info.
Total number of household members.
Total household income for 2024.
Confirmation letter of pre-qualification by a lender, showing ability to finance the home purchase.
Agreement to eligibility criteria (see below).
Please note that applications submitted before the application window opens will not be accepted.
Eligibility Criteria
Applicants must agree that the home will be their primary residence, occupied year-round.
Applicants must be first-time home buyers. As defined by Maine Housing: If you have not held an ownership interest in a principal residence within the past 3 years, you qualify as a first-time homebuyer.
Households must have a composition to fit the house under consideration, e.g. 1-2 persons per bedroom at the time of acquisition.
Total household income must not exceed the following caps, based on the Maine State Median Income as defined by HUD for 2025 ($98,900) as evidenced by submission of required documentation (see below).
140% for a family of two = $138,460
150% for a family of three = $148,350
160% for a family of four = $158,240
Applicants must be pre-qualified by a lender of their choice and provide a lender-issued letter of pre-qualification demonstrating borrowing power sufficient to purchase the home they are applying for.
Applicants must confirm that they have read, understand and agree to abide by the terms and provisions in the Declaration of Condominium, the Declaration of Affordable Housing Covenants, and the Bylaws of the Nolan Way Condominium Owners' Associations, including the restrictions on the future sale of the home to other qualified buyers and a maximum sale price. These documents will be made available on our website in the coming days.
You can download a copy of the eligibility criteria here.
Required Documentation
Along with a completed application form, applicants must submit:
2024 tax return for the applicant, and co-applicant if applicable.
2 recent pay stubs (or alternative records of current household income, e.g. bank statements, W-2, 1099, a spreadsheet displaying recent and/or anticipated income, etc.).
A pre-qualification letter issued by the lender of your choice, demonstrating borrowing power sufficient to purchase the unit you are applying for.
Selected Applications
The applicants selected will be notified and invited to enter into a Purchase and Sale Agreement for the home they applied for. The homes are being finished in the coming months, with an anticipated finish and sale date in March of 2026. Updates will be provided as this process moves forward and timelines become more specific.
Questions?
Email us - community@mountdesert365.org | Call us 207-276-0555 | Visit the office 6 Old Firehouse Lane, Northeast Harbor, second floor.
