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

• Not only does it reassure our clients of the quality of Affordable Language Services’ work, but it also serves as a feedback mechanism so that Affordable Language Services can continually improve both translation and process quality.

• If the client wishes to pursue hiring any contractor/employee of company (for duties that include interpreting) they must contact Affordable Language Services in advance.

• Furthermore, such issues must be actionable by Affordable Language Services, i.e., the requested change must be clearly defined and the context of the change precisely reported so that Affordable Language Services can resolve the issue.

• The Borrower shall comply with all federal, state and local statutes, ordinances, regulations and laws with respect to the ownership and operation of the Project including without limitation the rental of the Affordable Units.

• The Borrower shall manage, operate, and maintain the Property in accordance with this Agreement and shall maintain or cause to be maintained the interiors and exteriors of the Affordable Units in a decent, safe, and sanitary manner, and in accordance with the HUD Housing Quality Standards and the maintenance standards required by Section 92.251 of the HOME Regulations.

More Definitions of Affordable

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

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

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 consistent with minimum rent and/or income limitations set forth in the Act, and in guidelines established for specific programs administered by MFA.

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

Affordable means that the monthly mortgage