Affordable Housing Unit now available in highly desirable Traditions at Federal Point. This is considered an Affordable Housing Unit subject to submitting an application and a lottery system from Piazza & Associates, Inc. To be eligible, the buyer must be 55 years of age, and no household member may be younger than 19 years of age at the time of purchase. The maximum gross annual income for a household of one person is $68,665; and for two persons, it is $78,474. To purchase, applicants must obtain their own mortgage financing, have funds for whatever down payment is required by the lender, and pay all closing costs. You must include a letter from a bank, licensed mortgage broker or other qualified financial institution that prequalifies you to purchase a home for the maximum sales price indicated. If the estimated monthly housing cost for the home (including principal, interest, taxes, homeowner and private mortgage insurance and homeowner association fees) exceeds 33 percent of your household income, you will have to have received certification from a non-profit counselor approved by HUD or the New Jersey Department of Banking and Insurance, that you have received counseling on the advisability of the loan. Equal Housing Opportunity.