“Nolan Way” at Summit Road
Nolan Way Module Setting
Application Information
APPLICATIONS FOR THE 2BR HOME ARE BEING ACCEPTED
Home
4 Nolan Way - 2-Bedroom, 1.5 - Bath, 1,274 sq. ft. plus full basement - $300,000
Mount Desert 365 is now accepting applications for the 2 bedroom home purchase via three channels:
Submitting online via this webpage.
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, Monday-Friday.
We will review applications in the order received 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.
Any applications not selected as the buyer for 4 Nolan Way will be added to a waiting list for future home sales and be placed in a queue in order of 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:
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 2025.
Confirmation letter of pre-qualification by a lender, showing ability to finance the home purchase.
Agreement to eligibility criteria (see below).
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 the US Dept. of Housing and Urban Development (HUD) for 2025 ($98,900) as evidenced by submission of required documentation (See below. Note: income cap figures will be updated to 2026 levels as they are made available from HUD).
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.
You can download a copy of the eligibility criteria here.
Required Documentation
Along with a completed application form, applicants must submit:
2025 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 at 4 Nolan Way. The homes are being finished in the coming months, with an anticipated finish and sale date in early summer 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.
