07-25-2007, 02:29 PM
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#12
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I throw stones at houses
Join Date: Jan 2005
Location: Location: Location
Posts: 9,534
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Here's some info I posted on my blog recently about definitions of "low income":
Quote:
Here is a document that lists, amongst other valuable information, the SCHFA-CalHFA income limits for low- and moderate-income first-time homebuyer programs. But just in case you haven't looked at that document yet, I thought maybe I should post that information directly for you:
Moderate Income (for existing/resale and new homes):
$82,326 for 1 or 2 person households
$94,675 for 3 or more person households
Low Income (for existing/resale homes only):
$49,396 for 1 or 2 person households
$56,805 for 3 or more person households
Low Income (for new homes only):
$57,628 for 1 or 2 person households
$66,272 for 3 or more person households
While I'm at it, I should point out that their definition of a first-time homebuyer is not necessarily someone who has never owned a home before... it is someone who has not owned a home in the last 3 years. So if it has been at least 3 years since you owned a home, you are considered a first-time homebuyer for the purposes of their program.
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