|
Income
Guidelines for HRP home purchase
Are
you a member of a "Low to Moderate Income" Household?
Please
review the following chart to determine your qualification as
a low or moderate income household:
|
Household Size
|
Eligible
|
Maximum Eligible
|
|
Very Low Income (25%)
|
Low Income
(50%)
|
Moderate Income
(80%)
|
|
1
|
14,450
|
28,920
|
38,550
|
|
2
|
15,600
|
33,000
|
44,050
|
|
3
|
18,600
|
37,140
|
49,550
|
|
4
|
20,650
|
41,280
|
55,050
|
|
5
|
22,300
|
44,580
|
59,450
|
|
6
|
23,950
|
47,880
|
63,850
|
|
7
|
25,600
|
51,180
|
68,250
|
The
maximum income for the Homeownership Rehabilitation Program
is 80% of Median. Your total annual household income may not
exceed the 80% moderate scale. The following criteria also apply:
- You
must be a first time homeowner
- You
must receive housing counseling
- You
must be credit worthy
- Typically,
3% down payment is required
- Estimate
an additional 6-8% of sales price for settlement costs
back
to new construction listing
Please
contact Bernadette Prater for details and discussion.
Bernadette
Prater
Director - Housing and Energy Services
Greater Germantown Housing Development Corporation
bprater@germantown.org
5538 Wayne Avenue
Philadelphia, PA 19144
(215)
843-6766
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