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.

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 purchasable for not more than fifteen percent

Examples of Affordable in a sentence

• City shall notify Owner within thirty (30) days of the receipt of Owner's notification of the Affordable Sales Prices currently applicable to each Affordable Unit.

• This Agreement shall be interpreted to ensure that the rental of all Affordable Units or sale of Affordable Units remain affordable to Low and Very Low Income Households as described in this Agreement.

• At least one hundred twenty (120) days before offering an Affordable Unit for sale, Owner shall provide the City with written notice of the proposed sale of the Affordable Unit including the Unit size (square footage and number of bedrooms), lot/building/unit number, street address, Owner name and Tract number, and required income level of the Unit.

• BACKGROUND Statutory Requirements This cost-benefit analysis covers computer matching programs used by CMS to provide “eligibility verification” hub services required to implement provisions of the Patient Protection and Affordable Care Act (ACA) related to verifying individuals’ eligibility for enrollment in qualified health plans (QHPs) with or without advance payments of the premium tax credit or cost-sharing reductions; in Medicaid; in CHIP; or in Basic Health Plans.

• City Affordable Units are the [Number of Units] (#) residential units that the Owner has agreed to rent in the Project to Very Low Income Households and [Number of Units] (#) residential units that the Owner has agreed to rent in the Project to Low Income Households for the life of the Project in compliance with Berkeley Municipal Code (BMC) Section 22.328.030 .

More Definitions of Affordable

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

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

Affordable means that rental expenses for dwelling units do

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

Affordable means that the monthly mortgage

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.