Affordable Purchase Price definition

Affordable Purchase Price means the maximum sale price a qualified purchaser may be required to pay for the affordable unit, as described in accordance with the provisions of this ordinance.
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Affordable Purchase Price means a home purchase price resulting in an average monthly housing payment (including mortgage loan principal and interest, mortgage insurance fees, property taxes and assessments, a reasonable allowance for property maintenance and repairs, homeowners insurance premiums, a reasonable utility allowance, and homeowners association dues, if any) which is affordable to households of Low to Moderate-Income, as determined using standard underwriting criteria in common use by Fannie Mae or the California Housing Finance Agency.
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Affordable Purchase Price means the maximum sale price a Qualified Purchaser may be required to pay for the Affordable Unit, as determined in accordance with the provisions of this Housing Plan.
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Examples of Affordable Purchase Price in a sentence

  • In the event that the sum of the Affordable Purchase Price plus the amount of the Excess Sales Proceeds under the City Note exceeds the Fair Market Value of the Residence, the amount of the City Note shall be reduced until the sum of the Affordable Purchase Price plus the amount of the City Note equals the Fair Market Value.

  • No adjustments to the Affordable Purchase Price shall be made for any improvements or upgrades to the unit.

  • The maximum amount that the Owner may receive for the Transfer after the payment of customary and reasonable closing costs for the sale of the Residence shall be lesser of: 1) the Fair Market Value of the Residence; or 2) the Affordable Purchase Price in effect at the date of sale as established by Council, subject to any adjustments due to Advances by the City or as described further in Section 14.

  • In the event the owner or the City is unable to identify a qualified purchaser who is able to purchase the unit within the resale marketing period in compliance with the sales timelines of this chapter and the Regulatory Agreement, the City shall have the right to purchase the unit at the Affordable Purchase Price.

  • An executed deed of trust and a promissory note from the Proposed Purchaser in favor of the City except that the principal amount of the new promissory note shall equal the difference between the Fair Market Value and the Affordable Purchase Price at the time of Transfer.

  • The maximum sales price (the "Sales Price") that theOwner may charge for a Transfer of the Residence to an Eligible Purchaser shall be lesser of: (i) the Fair Market Value of the Residence; or (ii) the Affordable Purchase Price, plus the amount of the Excess Sales Proceeds.

  • Figure 2-24Maximum Affordable Purchase Price by Race/Ethnicity, 2009 Sources: 2006-2008 American Community Survey ( B19013, B19013A, B19013B); Stark County Association of Realtors; Stark County Auditor's Office; Calculations by Mullin & Lonergan Associates, Inc.

  • If, after adjustment of the Resale Affordable Price described above, if any, the Resale Affordable Price is less than the sum of the Affordable Purchase Price plus the Closing Costs, then the Agency through its Executive Director as authorized in Resolution No. 73-2000 dated May 23, 2000 shall deposit into escrow the funds necessary to cover Owner’s original down payment funds and Closing Costs.

  • If the Inheriting Owner is not a qualified Inheriting Party, he or she shall Transfer the Residence to an Eligible Purchaser at a price not exceeding the Affordable Purchase Price, pursuant to the procedures set forth in Sections 9 through 14 below and the City may exercise the City Option pursuant to Section 15 below.

  • Subject to the Agency’s prior written approval, Owner may encumber title to the Property for the sole purpose of securing (a) purchase money financing, (b) refinancing (but only up to the amount of the original financing), or (c) refinancing up to the amount of the original financing, plus fifty percent (50%) of the value of the Resale Affordable Price less the Affordable Purchase Price.


More Definitions of Affordable Purchase Price

Affordable Purchase Price means the maximum purchase price for Low Income (80% AMI) housing, adjusted for number of bedrooms, as adopted annually by the City Council of the City.
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Affordable Purchase Price means the purchase price for a housing unit that is calculated so that the total monthly housing cost does not exceed the affordable ownership cost.
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Affordable Purchase Price means a home purchase price resulting in an average monthly housing payment (including mortgage loan principal and interest, mortgage insurance fees, property taxes and assessments, a reasonable allowance for property maintenance and repairs, homeowners insurance premiums, a reasonable utility allowance, andAttachment: Regulatory Agreement (Palomino Court) (2128 : Approval of Regulatory Agreement and Related Documents - 1716 Palomino homeowners association dues, if any) which is affordable to households of Low- Income, Median-Income, Moderate-Income or Middle-Income, as determined using standard underwriting criteria in common use by Fannie Mae or the California Housing Finance Agency.
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Affordable Purchase Price means that purchase price which, after deduction of (i) the down payment made by the Homebuyer, and (ii) the principal amount of any deferred payment Second Mortgage Assistance obtained by the Qualified Buyer, would result in an Affordable Housing Cost for a Low Income Household. Notwithstanding the foregoing, Affordable Purchase Price shall be determined in accordance with all applicable Governmental Regulations.
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Affordable Purchase Price means the purchase price payable by a Qualified Purchaser to Developer for the purchase of an Affordable Unit, as set forth in Section 6.3.4 of this Agreement.
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Affordable Purchase Price means the maximum purchase price for income ( % AMI) housing, adjusted for number of bedrooms, as adopted annually by the City Council of the City.
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Related to Affordable Purchase Price

  • Loan Purchase Price With respect to any Home Equity Loan purchased from the Trust on or prior to a Monthly Remittance Date pursuant to Section 3.04, 3.06(b) or 8.10(b) hereof, an amount equal to the outstanding principal balance of such Home Equity Loan as of the date of purchase (assuming that the Monthly Remittance Amount remitted by the Servicer on such Monthly Remittance Date has already been remitted), plus all accrued and unpaid interest on such Home Equity Loan at the Coupon Rate to but not including the date of such purchase together with (without duplication) the aggregate amounts of (i) all unreimbursed Delinquency Advances and Servicing Advances theretofore made with respect to such Home Equity Loan, (ii) all Delinquency Advances which the Servicer has theretofore failed to remit with respect to such Home Equity Loan, (iii) all reimbursed Delinquency Advances and Servicing Advances to the extent that reimbursement is not made from the Mortgagor and (iv) any costs and damages incurred by the Trust in connection with any violation by the Home Equity Loan of any predatory or abusive lending law.

  • Mortgage Loan Purchase Price The price, calculated as set forth in Section 10.01, to be paid in connection with the repurchase of the Mortgage Loans pursuant to Section 10.01.

  • Contract Purchase Price means the amount actually paid or allocated in respect of the purchase, development, construction or improvement of a Property or the amount of funds advanced with respect to a Mortgage, or the amount actually paid or allocated in respect of the purchase of other Assets, in each case exclusive of Acquisition Fees and Acquisition Expenses, but in each case including any indebtedness assumed or incurred in respect of such Property.

  • Final Purchase Price has the meaning set forth in Section 2.02.

  • Base Purchase Price has the meaning set forth in Section 2.2.

  • the Purchase Price means the price to be paid by the Buyer to the Seller for the purchase of the Property;

  • Closing Purchase Price shall have the meaning ascribed to such term in Section 2.1(b), which aggregate purchase price shall be net of the underwriting discounts and commissions.

  • Cash Purchase Price has the meaning set forth in Section 2.1(b).

  • VWAP Purchase Price means the lesser of (i) the Closing Sale Price on the VWAP Purchase Date; or (ii) ninety-seven percent (97%) of volume weighted average price for the Common Stock traded on the Principal Market during normal trading hours on (A) the VWAP Purchase Date if the aggregate shares traded on the Principal Market on the VWAP Purchase Date have not exceeded the VWAP Purchase Share Volume Maximum and the Sale Price of Common Stock has not fallen below the VWAP Minimum Price Threshold (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction), or (B) the portion of the VWAP Purchase Date until such time as the sooner to occur of (1) the time at which the aggregate shares traded on the Principal Market has exceeded the VWAP Purchase Share Volume Maximum, or (2) the time at which the Sale Price of Common Stock falls below the VWAP Minimum Price Threshold (to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction).

  • Total Purchase Price means the aggregate amount payable by the Purchaser as set out in Appendix A of this Agreement.

  • Combined Purchase Price shall have the meaning ascribed to such term in Section 2.1(b).

  • Receivables Purchase Price means $1,652,997,849.97.

  • Closing Date Purchase Price shall have the meaning set forth in Section 2.1 hereof.

  • Aggregate Purchase Price has the meaning set forth in Section 1.1.

  • Additional Purchase Price has the meaning provided in Section 1.2(b).

  • Unit Purchase Price shall have the meaning ascribed to such term in Section 2.1(b).

  • Original Purchase Price means the price paid by you for the motor vehicle or a maximum of 110% of the market value of the vehicle as defined by Glass's Guide Retail at time of purchase, whichever is the lesser (including all factory fitted accessories) and after any discount given, but does not include the cost of dealer fitted accessories, road fund licence, new vehicle registration fee, fuel, paintwork and/or upholstery protection kits, insurance premiums (including the premium for this policy), warranty premiums, any finance arrears and any such associated costs and any negative equity transferred from a previous finance agreement.

  • Treasury Portfolio Purchase Price means the lowest aggregate price quoted by a primary U.S. government securities dealer in New York City to the Quotation Agent on the third Business Day immediately preceding the Tax Event Redemption Date for the purchase of the Treasury Portfolio for settlement on the Tax Event Redemption Date.

  • Net Purchase Price has the meaning set forth in Section 2.1.

  • Net Purchased Loan Balance means, as of any date of determination, an amount equal to the sum of (i) the Aggregate Principal Balance of all Collateral Obligations sold and/or contributed to the Buyer by the Seller (directly or indirectly) hereunder prior to such date plus (ii) the Aggregate Principal Balance of all Collateral Obligations acquired by the Buyer other than from the Seller prior to such date, in each case calculated as of the date of the Buyer’s acquisition thereof.

  • Purchase Price has the meaning set forth in Section 2.2.

  • Eligible Purchaser means a corporation, partnership or other entity which we have reasonable grounds to believe and do believe can make representations with respect to itself to substantially the same effect as the representations set forth herein.

  • Purchased Asset means (i) with respect to any Transaction, the Eligible Asset sold by Seller to Buyer in such Transaction and (ii) with respect to the Transactions in general, all Eligible Assets sold by Seller to Buyer (other than Purchased Assets that have been repurchased by Seller).

  • Option Purchase Price has the meaning set forth in Section 9.36(b) hereof.

  • Optional Purchase Price has the meaning set forth in Section 8.1 of the Sale and Servicing Agreement.