Eligible Homebuyer definition

Eligible Homebuyer means one or more natural persons or a household, irrespective of race, creed, religion, national origin, or sex, determined by the Corporation to be of very low or low to moderate income and who will utilize the Unit as their primary residence.

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Eligible Homebuyer means a household with dependents, where total household income is at or below the Second Quintile of Family Housing Income (2QFI) for Manitoba and where the household does not currently own a home or have any vested interest in a residential property.

Eligible Homebuyer means one or more natural persons or a household, irrespective of race, creed, religion, national origin, or sex, determined by the Corporation to be of very low or low to moderate income and who will utilize the home as their primary residence. In determining the income standards of eligible persons for its various programs, the Corporation shall take into account the following factors:

Examples of Eligible Homebuyer in a sentence

• Participant shall be responsible for the initial determination of a buyer’s Eligible Homebuyer status and shall provide information to the City Party to enable the City Party to verify that the proposed buyer is an Eligible Homebuyer.

• Upon the closing of the sale of a Home to an Eligible Homebuyer in accordance with the requirements of this Agreement, the City Party shall pay to Participant a fee for the Home in the amount of Three Thousand Dollars ($3,000) (“Homebuyer Administration Fee”).

• Participant shall sell each rehabilitated Home to an Eligible Homebuyer as expeditiously as possible following the completion of the Home’s Rehabilitation Project.

• If the City Party is unable to verify the buyer’s Eligible Homebuyer status, then the buyer shall not be eligible to purchase the Home and Participant shall select another applicant for approval of Eligible Homebuyer status.

• If, however, the City Party does not have sufficient NSP Funds to make the payments to Participant referred to in Section 5.13 and Participant is not in default, Participant shall have the right to sell the Home to an Eligible Homebuyer at the Resale Price instead of to the City Party and the Resale Price proceeds shall be used first to pay Participant the payments required under Section 5.13 with any balance paid to the City Party.

More Definitions of Eligible Homebuyer

Eligible Homebuyer means one or more adult members of a Household who sign the Deed of Trust, related Promissory Note and other documents required for a second mortgage, who have completed a homebuyer education program, and whose Household has an Annual Income (as of the date of signing the purchase agreement in the case of new home being constructed, or as of the date of purchase in the case of an existing home) that does not exceed the lesser of:

Eligible Homebuyer means a buyer of a Residential Housing Unit (as hereinafter defined) which meets the eligibility criteria set forth in the Operations Manual (as hereinafter defined) and to which a PFI (as hereinafter defined) has made or proposes to make a Housing Loan (as hereinafter defined) to finance the cost of purchase or Capital Home Improvement of a Residential Housing Unit;

Eligible Homebuyer means a household with a dependent(s), where total household income is at or below the Affordable Housing Program Income Limit for Manitoba and where the household does not currently own a home or have any vested or beneficial interest in a residential property.

Eligible Homebuyer means the persons or household eligible to purchase a Home after the completion of the Rehabilitation Project, as described in Section 5.2 of this Agreement.

Eligible Homebuyer means one or more natural persons, irrespective of race, creed, religion, national origin, or sex, determined by the Corporation to be fully qualified and who will utilize the Unit as their primary residence.

Eligible Homebuyer means a household with a dependent(s), where total household income is at or below the Second Quintile of Family Income (2QFI) for Manitoba (See definition below) and where the household does not currently own a home or have any vested or beneficial interest in a residential property.

Eligible Homebuyer means one or more natural persons or a household, irrespective of race,