Affordable definition

Affordable means, a sales price or rent level that is within the means of a low- or moderate- income household as defined within N.J.A.C. 5:93-7.4, and, in the case of an ownership unit, that the sales price for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.6, as may be amended and supplemented, and, in the case of a rental unit, that the rent for the unit conforms to the standards set forth in N.J.A.C. 5:80-26.12, as may be amended and supplemented.

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Affordable means that monthly rents or mortgage payments including taxes and insurance do not exceed 30 percent of that amount which represents the percentage of the median annual gross income for the households as indicated in Sections 420.9071, F.S. However, it is not the intent to limit an individual household’s ability to devote more than 30% of its income for housing, and housing for which a household devotes more than 30% of its income shall be deemed Affordable if the first institutional mortgage lender is satisfied that the household can afford mortgage payments in excess of the 30% benchmark and in the case of rental housing does not exceed those rental limits adjusted for bedroom size.

Affordable means a sales price or rent within the means of a

Examples of Affordable in a sentence

The Shareholder acknowledges that, the [acquisition][rehabilitation] of the Unit is assisted by a grant from HTFC (administered by HOME LPA) under the New York State HOME Program pursuant to Subtitle A of Title II of the National Affordable Housing Act of 1990.
In the case that HSA 2 Employee Single falls below the compliance of the Affordable Care Act, the corporation will add money to stay in compliance.
In addition to the remedies contained herein, a Unit Owner and other individuals dealing with the transfer and/or management of a Unit (including lenders, Realtors, attorneys and title professionals) may be subject to the provisions of Summit County Code §5-2-7: Affordable Housing Fraud (as may be amended or replaced).
The Affordable Housing Restriction will be executed by the parties thereto and approved by the Director of the Executive Office of Housing and Livable Communities (formerly known as the Department of Housing and Community Development) (“EOHLC”) and executed by the Select Board of the Town, if required by the applicable statute), all in accordance with the provisions of Massachusetts General Laws, Chapter 184, Sections 26-32.
Public participation shall occur in accordance with Implementation Principle II of Appendix A: ACHP’s Policy Statement on Affordable Housing and according to the process outlined in Appendix B: Section 106 Review Process.

More Definitions of Affordable

Affordable means a housing unit that has an Affordable Housing Cost.

Affordable means that monthly rents or monthly mortgage payments including taxes and insurance do not exceed 30 percent of that amount which represents the percentage of the median annual gross income for the households as indicated in subsection (19), subsection (20), or subsection (28). However, it is not the intent to limit an individual household’s ability to devote more than 30 percent of its income for housing, and housing for which a household devotes more than 30 percent of its income shall be deemed affordable if the first institutional mortgage lender is satisfied that the household can afford mortgage payments in excess of the 30 percent benchmark.

Affordable means that monthly rents or monthly

Affordable means that the monthly mortgage

Affordable means a housing unit that satisfies at least one of the following criteria:

Affordable means consistent with minimum rent and/or income limitations set forth in the Act, and in guidelines established for specific programs administered by MFA.

Affordable means that, where feasible, low-income residents should not pay more than thirty percent of their monthly income for housing costs.