Eligible Homebuyer definition

Eligible Homebuyer means one or more natural persons or a household, irrespective of race, creed, religion, national origin, or sex, determined by the Corporation to be of very low or low to moderate income and who will utilize the Unit as their primary residence.

Eligible Homebuyer means a household with dependents, where total household income is at or below the Second Quintile of Family Housing Income (2QFI) for Manitoba and where the household does not currently own a home or have any vested interest in a residential property.

Eligible Homebuyer means one or more natural persons or a household, irrespective of race, creed, religion, national origin, or sex, determined by the Corporation to be of very low or low to moderate income and who will utilize the home as their primary residence. In determining the income standards of eligible persons for its various programs, the Corporation shall take into account the following factors:

Examples of Eligible Homebuyer in a sentence

• If the funds for the Eligible Homebuyer are not drawn within that period, the reservation of funds shall be cancelled and the Member must submit a new reservation.

• In exchange, the Eligible Homebuyer shall agree to own and occupy the property a minimum of seven (7) years.

• A HAP Purchase Assistance Loan shall be made available to an Eligible Homebuyer who purchases a home built by a Developer participating inthe HLP Program, under HAP.

• The assumable HOME deferred payment loan will have an interest rate of 0% and be assumable by an Eligible Homebuyer during the affordability period.

• Project Timeline: Acquisition – 1 month Rehabilitation – 4 months Market and Sale to Eligible Homebuyer – 9 months Determination of Sales Price to Homebuyer Home price will not exceed current after rehab appraisal.

More Definitions of Eligible Homebuyer

Eligible Homebuyer means one or more adult members of a Household who sign the Deed of Trust, related Promissory Note and other documents required for a second mortgage, who have completed a homebuyer education program, and whose Household has an Annual Income (as of the date of signing the purchase agreement in the case of new home being constructed, or as of the date of purchase in the case of an existing home) that does not exceed the lesser of:

Eligible Homebuyer means one or more adult members of a Household who sign the Deed of Trust, related Subordinate Deed of Trust Note and other documents required for a Second or Third Mortgage, who have completed a Homebuyer Education Program, and whose Household has an Annual Income (as of the date of signing the purchase agreement, in the case of new home being constructed, or as of the date of purchase, in the case of an existing home) that does not exceed the lesser of:

Eligible Homebuyer means a household with a dependent(s), where total household income is at or below the Affordable Housing Program Income Limit for Manitoba and where the household does not currently own a home or have any vested or beneficial interest in a residential property.

Eligible Homebuyer means one or more natural persons or a household, irrespective of race,

Eligible Homebuyer means a buyer of a Residential Housing Unit (as hereinafter defined) which meets the eligibility criteria set forth in the Operations Manual (as hereinafter defined) and to which a PFI (as hereinafter defined) has made or proposes to make a Housing Loan (as hereinafter defined) to finance the cost of purchase or Capital Home Improvement of a Residential Housing Unit;

Eligible Homebuyer means the persons or household eligible to purchase a Home after the completion of the Rehabilitation Project, as described in Section 5.2 of this Agreement.

Eligible Homebuyer means one or more natural persons, irrespective of race, creed, religion, national origin, or sex, determined by the Corporation to be fully qualified and who will utilize the Unit as their primary residence.