The Point at Smithburg

G1 Washington Court, Smithsburg, Maryland 21783

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Units

Unit (Bd/Ba) Ft2 Rent
Two Bedroom (2/1) 870 Call for Price
Three Bedroom (3/1) 1044 Call for Price

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The Point at Smithburg was last updated on 08/01/2017

About The Point at Smithburg

Located in the quaint town of Smithsburg, The Point offers thirty-eight 2 and 3 bedroom apartments. Each unit is equipped with central air, an on-site laundry facility, and maintenance-free living. The Point is not far from Hagerstown, Frederick, Thurmont, and Baltimore, and there is public transportation available. Come see what The Point has to offer you.

Property Details

  • 76 two and three bedroom units.
  • Townhouse
  • Project-Based Rental Assistance

Property Amenities

  • Playground
  • Laundry Room
  • 24hr Emergency Maintenance

Unit Amenities

  • Air Conditioning
  • Cable/Satellite TV
  • Window Coverings
  • Carpet
  • Patio, Deck Or Balcony

Nearby Amenities

  • Close to Dining
  • Close to Public Transportation
  • Near Library
  • Near Park
  • Near Schools

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this property are based on tenant incomes. Tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.

Section 42 Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, monthly rent cannot exceed the Tax Credit maximum rent for the area. Households earning less than 60% of the area median income qualify for units with reduced rent. Some rental units in this property may not be subject to LIHTC and therefore may be set at levels higher than the area's LIHTC limits.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Smithsburg HUD Rental Assistance Income Qualifications

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $15,300 $17,500 $20,780 $25,100 $29,420 $33,740 $38,060 $42,380
50% $25,500 $29,150 $32,800 $36,400 $39,350 $42,250 $45,150 $48,050
80% $40,800 $46,600 $52,450 $58,250 $62,950 $67,600 $72,250 $76,900

Smithsburg Low Income Housing Tax Credit Income Qualifications

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% $25,500 $29,150 $32,800 $36,400 $39,350 $42,250 $45,150 $48,050
60% $30,600 $34,980 $39,360 $43,680 $47,220 $50,700 $54,180 $57,660

The Point at Smithburg was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and receives rental subsidies through HUD-Assisted Housing. These programs have different income limits that can lead to apartments in the same property having different income requirements.

You can make up to 80% of the Area Median Income (AMI) and be eligible for a HUD-Assisted Housing unit. However, you can earn at most 60% of AMI to be eligible for a LIHTC property and many units may be set aside for those with the lowest incomes (down to 15% of AMI). LIHTC properties may also contain some market rate units.

Since The Point at Smithburg has both programs, the most restrictive of the income limits will apply for each unit. If the entire property is funded by LIHTC, the LIHTC income limit of 60% AMI would be used for all units. Apartments in properties with some units not funded by the LIHTC, but receiving Section 8 assistance, would be open to households making up to 80% AMI. Market rate units would have no subsidies or income restrictions.

Figuring out income and rent limits for affordable housing can be complex when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.

The Point at Smithburg is managed by TM Associates Management, Inc.

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Image of The Point at Smithburg
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Image of The Point at Smithburg
Image of The Point at Smithburg