HomeMy WebLinkAbout2017 Affordable Housing GuidelinesFOR -SALE UNIITS GUIDELINES (Effective 0&1312017)
This information is based on 2016 rnedian mconne established by the U,S, Depailment of Housing and: Urban Development (HUD) for varloLA farirly sizes Adji.istrrienls to the very low (50%) and lows
income (80%) limits, are made by HUID for areas with unusually hi,gh or low family inoome or housing costs Most lneowne hml s are proportionately based on vary lov*mcan a Nmils Thus,thetmir-
person (60%) income Intuit is 120% (60i50ths) of the four -person very low4noorrie limit.
The figures considers (1) a age -year oonventional Ned mortgage, (2) a fixed interest rate of 3,75%, (3) a down payment equal to 5% of the sales pnoe, 'The interest rate used is, the annual average
interest rate for a 3,0-year cmventional fixed mortgage, for the twelve months endmgi in the previous year rwinded to the nearest quarter percent, as puWalhed by the Federal Hine Loan Mortgage Corp
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FOR -SALE FINISHED LOTS GUIDELINES (Effective otim=17)
This unformatkin is based on the affordable sales price for a completed unit for a househ6d, earnmg one hUndred percent of the miadjan incorner in the County of HawaN, loss the cost 10
build a saigle-gamily home of 1,1010 square feet. *$182.53 per square fW cost is based on estimates by Tire County of Hawai'i, Department of Public Works, Building Divisdon
FOR -RENT GU I DELI NIES (Effectilveafinww)
Affordable rents are Ibasend on 3D% of gi rnontNy inaorne, iincluuding ublifies (water, sanitary sewage service, electncrty andffor gas) Please referto faint HUD-52667 (Allowances for
renani-FurnisiTed Wifibes and Other Servtces) for utihtles, for either sungle andlor multi4arnky units