HomeMy WebLinkAbout2016 Affordable Housing Guidelines. . ............... ,,
FOR -SALE UNITS GUIDELINES tEffectivo oam512016)
'Ns information is based on 2016 median intome estabbshed by the U S. Department of HouSlng and Urban IDevetoprnmerrt (HUD) for various family sizes. Adjustments to the very loWL (50%) and kW,
income (80'%� livnits are made by HUD for areas with unusually high V low fancily income or housing costs, Most m come firnits are pro pod onately based on very low4ricom a brrifts , Thus, the four -
person (60%) income Rmit is 1201/,v (601,50ths) of the four -person very low-income linill
The fig urusWSdL-rS (1) a 30 -year Con ViOnii on aNfwed mcog age, (2) a fixed interest rate of 4,00%', (3) a down payment equal to 5%oltkhe sales price; 'The interest: rate used is the annual average
riterest rate for a 30-year conventional fixed mortgage, for the tweive months ending in the previous year rounded to the nearest quarter pefrent, as pubiished by the Federal Home Loan, Modgage Corp
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FOR -SALE FINISHED LOTS GUIDELINES (Effective oamwoiti)
This mformabon, is based on the aftrdable sales pace fora completed Unit for a household, earning one tiundred percent d the median lixncomrue in the County of Havvai'l, less the cost to
budd a single-family home of 1,100 square feel *$150 per square foot cost is based on estimates by The County of Hawm'j, Department of Public Works, Suildmg Divtsion
Fib R-RENT GUIDELINES (Etioctive,0810512016)
Affordable rents are based on 30% of gross monthly income, iniciuding uttlities (", er, sanitary sewage ser0ce, electricity andlor gas). Please refer to form FlUD-52667 fAllowances for
renanl-Fur*shed Utilities and Other Services) for utilities for Ober single- aridior moults -far 0y units.