Income Requirement
ELIGIBILITY REQUIREMENTS & RESTRICTIONS
You must meet the following income requirements, with household income not exceeding the following guidelines for each county listed below:
Westchester - 2010 - Maximum Gross Household Income Based on Family Size
Family
Size |
1
PERSON
|
2
PERSON
|
3
PERSON
|
4
PERSON
|
5
PERSON
|
6
PERSON
|
| 80% AMI |
$59,600
|
$68,200
|
$76,700
|
$85,200
|
$92,000
|
$98,800
|
- All families must occupy the home as a principal residence for between ten and fifteen years, depending upon requirements of the funder.
- Section 8 applicants must hold a Section 8 Home Ownership Voucher issued by their local Housing Authority.
- Section 8 Rental Assistance Vouchers are not eligible for this program.
- All families must submit proof of income and assets with recent pay stubs, last two years of tax returns and other documentation.
- You will be required to attend a FREE homebuyer seminar and homebuyer counseling
- Your application will be processed on a first-come, first-served basis. If you meet eligibility requirements, we will assist you in qualifying for a mortgage with participating lenders.
TO APPLY FOR HOME OWNERSHIP ASSISTANCE
 Please visit the FREQUENTLY ASKED QUESTIONS ABOUT BUYING A NEW HOME for a list of procedures and to download a free application for home buying assistance
.
|
