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U9;101N37e1:3IIIIA:[9111-11ki[rZr1l]III N1IIkiIE 791:4119:INK419111111 kiIIIWK970:FiETI1WI
<br />FOR -SALE UNITS GUIDELINES (Effective 0810112011)
<br />This information is based on 2010 median income established by the U.S. Department of Housing and Urban Development (HUD) for various family sizes. Adjustments to the very
<br />low- (50%) and low-income (80%) limits are made by HUD for areas with unusually high or low family income or housing costs. Most income limits are proportionately based on very
<br />low-income limits. Thus, the four -person (60%) income limit is 120% (60/50ths) of the four -person very low-income limit.
<br />The figures considers (1) a 30 -year conventional fixed mortgage, (2) a fixed interest rate of 4.5%*, (3) housing expenses equal to 28% of gross annual income, (4) property tax rate of
<br />$5.55 per every $1,000 of assessed value at the current "homeowner" tax rate as published by the Real Property Tax Division, (5) property insurance ata rate of $300 per every
<br />$100,000 of coverage as published by the Homeowners Insurance Institute for the State of Hawaii; (6) a down payment equal to 5% of the sales price, *The interest rate used is the
<br />annual average interest rate for a 30 -year conventional fixed mortgage, for the twelve months ending in the previous year rounded to the nearest half percent, as published by the
<br />Federal Home Loan Mortgage Corp (http://www.freddiemac.com/pmms/docs/30yr_pmmsmnth.xls).
<br />FOR -SALE FINISHED LOTS GUIDELINES (Effective 0810112011)
<br />This information is based on the affordable sales price for a completed unit for a household, earning one hundred percent of the median income in the County of Hawai'I, less the
<br />cost to build a single-family home of 1,100 square feet. *$150 per square foot cost is based on estimates by The County of Hawaii, Department of Public Works, Building
<br />Division.
<br />80% $ 233,800 $ 165,000 = $ 68,800
<br />100% $ 277,400 $ 165,000 = $ 112,400
<br />FOR -RENT GUIDELINES (Effective 08/01/2011)
<br />Affordable rents are based on 30% of gross monthly income, including utilities (water, sanitary sewage service, electricity and/or gas). Please refer to form HUD -52667
<br />(Allowances for Tenant-Fumished Utilities and Other Services) for utilities for either single- and/or multi -family units.
<br />30%
<br />$
<br />380
<br />•
<br />$ 407
<br />$ 489
<br />$ 564
<br />$ 630
<br />50%
<br />$
<br />633
<br />$ 679
<br />$ 815
<br />$ 941
<br />$ 1,050
<br />':'..60%
<br />$
<br />760
<br />$ 815
<br />$ 978
<br />$ 1,129
<br />$ 1,260
<br />�%¢ 4f MOdiaiM 80%
<br />htcome 100%
<br />$
<br />$
<br />1,014
<br />1,202
<br />$ 1,087
<br />$ 1,288
<br />$ 1,304
<br />$ 1,545
<br />$ 1,506
<br />$ 1,786
<br />$ 1,680
<br />$ 1 ,992
<br />1,442
<br />$ 1,545
<br />$ 1,855
<br />$ 2,143
<br />$ 2,390
<br />140%
<br />$
<br />1,683
<br />$ 1,803
<br />$ 2,164
<br />$ 2,500
<br />$ 2,789
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