Affordable Home definition

Affordable Home means a home defined as affordable housing in Annex 2 Glossary of the National Planning Policy Framework or as permitted by subsequent legislation or national guidance brought in after the date of this agreement.
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Affordable Home means a dwelling unit where the cost of the net mortgage or rent monthly payment (excluding property taxes, utilities, condominium fees or other similar fees) does not exceed 30% of the gross household monthly family income.
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Examples of Affordable Home in a sentence

  • Proposed changes to the previously approved Program Delivery and Financial Plan (PDFP) for Year 6 (2019-20) of the Investment in Affordable Housing Program Extension (2014) (IAHE): New Rental Housing $0 $358,297 Home Ownership $146,000 $66,303 Ontario Renovates $278,600 $0 Housing Allowance $135,000 $135,000 Total IAHE Funding $559,600 $559,600 Currently, at May 31, 2019, the Revolving Loan Funds for (a) Affordable Home Ownership is at $25,200.

  • The Program Manager, Housing Services, consulted with Habitat for Humanity Canada–Chatham- Kent on their planned builds for April 2019 to March 2022 and expected requests for Affordable Home Ownership funding and was advised to expect another request in 2021.

  • For Shared Ownership schemes, the FSG is apportioned according to the market values of the Affordable Home Ownership Dwellings at Practical Completion of the Firm Scheme.

  • For Shared Ownership schemes, the Firm Scheme Grant is apportioned according to the market values of the Affordable Home Ownership Dwellings at Practical Completion of the Firm Scheme.

  • Transferor and Rural Homes previously entered into that certain License Agreement dated effective as of April 28, 2021 (the “License Agreement”) pursuant to which Transferor granted Rural Homes a license to enter upon the Land to conduct due diligence investigations with regard to the feasibility of carrying out the Affordable Home Project on the Land.

  • Rent enjoy Own Furniture Appliances Electronics with Affordable Home Furnishings.

  • The Participant may also only charge a maximum amount on each loan with respect to Origination Fees that are limited to one percent (1%), regardless of who is paying the applicable fee, under the Affordable Home Program and the Helping To Own Program (not applicable to the Next Home Program, MCC Program, My Home Program and Honor Our Vets Program that hold no limit on fees).

  • The amount of grant payable in respect of a Firm Scheme will be calculated in accordance with the following formula: FSG = (A x B) + (C x D) where: FSG is the Firm Scheme Grant payable in relation to the relevant Firm Scheme; A is the Agreed Payment Rate for a completed Affordable Rent Dwelling (including a Social Rent Dwelling); C is the Agreed Payment Rate for a completed Affordable Home Ownership Dwelling; D is the number of completed Affordable Home Ownership Dwellings within the Firm Scheme.

  • The Homebuyer Resale Restriction Agreement, the Homebuyer Notice of Affordability Restrictions, and the Homebuyer Deed of Trust shall be recorded against the Affordable Home at close of escrow on the purchase of the Affordable Home by the Qualified Homebuyer, and shall be subordinate only to the lien of the deed of trust securing the Homebuyer First Mortgage Loan, provided the Agency has made the finding required by Health and Safety Code Section 33334.14(a)(2).

  • Upon the sale of each home in the Development (as defined in the DDLA) in compliance with the DDLA and satisfaction by Trustor of the conditions set forth in the DDLA, including execution of a Homebuyer Note by the purchaser of each Affordable Home (all as defined in the DDLA), Beneficiary shall request from Trustee a partial reconveyance from the lien of this Deed of Trust for each such home sold.