Eligible Persons and Families definition

Eligible Persons and Families means a person or persons or family or families (1) intending principally and permanently to reside as a household in a Single-Family Residence (as defined in the Origination Agreements);
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Eligible Persons and Families means a person or persons and a family or families (i) intending to principally and permanently reside as a household in a Single-Family Residence within a reasonable period (not to exceed 60 days) following the closing of the Mortgage Loan, (ii) whose Annual Family Income does not exceed the limitations prescribed by the Code and the Commission and contained in the Program Manual, as such income limitations may be amended from time to time, and (iii) who is a First- Time Homebuyer unless the Single-Family Residence is located within a Targeted Area.
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Eligible Persons and Families means a person or persons: (i) whose Current Annual Family Income does not exceed the Maximum Current Annual Family Income; (ii) who intends principally and permanently to occupy the Single Family Residence to be financed with a Mortgage Loan within a reasonable period (not to exceed 60 days) following the Closing of such Mortgage Loan; (iii) who is a First Time Homebuyer (except with respect to a principal Residence located in a Targeted Area or a Federally declared disaster area); and (iv) who has not had an existing mortgage (including a deed of trust, conditional sales contract, pledge, agreement to hold title in escrow, or any other form of owner-financing), whether or not paid off, on the Single Family Residence to be financed with such Mortgage Loan at any time prior to the execution of the Mortgage or an existing mortgage securing a construction period loan, construction bridge loan or similar temporary initial construction financing initially incurred within 24 months of the Closing Date, having an original term not exceeding 24 months, and not providing for scheduled payments of principal during such term.
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Examples of Eligible Persons and Families in a sentence

  • To qualify as Eligible Persons and Families, such persons and families must have an aggregate Annual Family Income that does not exceed the applicable amounts specified in the Program Manual and the Seller Guide.

  • Mortgage Loans shall be made only to Eligible Persons and Families for the purpose of providing financing for the purchase of a Single-Family Residence, and not for the purpose of refinancing any existing loan except a construction loan, bridge loan or similar temporary initial financing (with a maximum term of 24 months).

  • Mortgage Loans shall be made only to Eligible Persons and Families, as defined herein, for the purpose of providing financing for the purchase of a Single Family Residence at an Acquisition Price not in excess of the Maximum Acquisition Price for such Single Family Residence and not for the purpose of refinancing any existing loan or a construction period loan, bridge loan or similar temporary initial financing of 24 months or less.

  • An Affordable Unit, and any interest therein, shall not be Transferred except with the express written consent of the City, which consent shall be given only if the Transfer is consistent with the City's goal of creating, preserving, maintaining and protecting housing in San Xxxx for Eligible Persons and Families and shall be in accordance with the provisions of Section 4 of this Restriction.

  • All Service Providers must accept and process referrals from other agencies in an attempt to provide the best level of service possible to Eligible Persons and Families.

  • Mortgage Loans shall be made only to Eligible Persons and Families, as defined herein and in the Invitation, for the purpose of providing financing for the purchase of a Single Family Residence, at an Acquisition Price not in excess of the Maximum Acquisition Price for such Single Family Residence, and not for the purpose of refinancing any existing loan, or a construction period loan, bridge loan or similar temporary initial financing of 24 months or less.

  • Owner acknowledges that it is the intention of Owner/ and the City that these provisions be specifically enforceable to maintain the supply of affordable housing for Eligible Persons and Families.

  • Developer acknowledges that it is the intention of Owner/Developer and the Agency that these provisions be specifically enforceable to maintain the supply of affordable housing for Eligible Persons and Families.

  • All covenants and restrictions contained herein without regard to technical classification or designation shall be binding upon Developer and each Owner for the benefit of the City and Eligible Persons and Families and such covenants and restrictions shall run in favor of such parties for the entire period during which such covenants and restrictions shall be in force and effect, without regard to whether the City is an owner of any land or interest therein to which such covenants and restrictions relate.

  • The Lender intends that the loan provided by the Program will assist first time homebuyers who are Eligible Persons and Families to purchase residential property for owner-occupancy at affordable housing cost.


More Definitions of Eligible Persons and Families

Eligible Persons and Families means (i) persons and families of low and moderate income, (ii) persons and families of higher income to the extent that the Housing Development Fund finds and determines that construction of new or rehabilitated housing for occupancy by them will cause to be vacated existing sanitary, decent and safe housing available at prices or rentals which persons and families of low and moderate income can afford, (iii) persons who because of age or physical disability are found and determined by the Housing Development Fund to require residential housing of a special location or design in order to provide them with sanitary, decent and safe residential housing or (iv) persons and families for whom, as found and determined by the Housing Development Fund, construction of new or rehabilitated residential housing in some designated area or areas of the State is necessary for the purpose of retaining in, or attracting to, such area or areas qualified manpower resources essential to modern mining, industrial and commercial operations and development in such area or areas.
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Eligible Persons and Families means one or more natural persons or a family, irrespective of race, creed, national origin, or sex, determined by the Local HFA in an applicable Invitation or Administrator’s Guidelines to be of low, moderate, or middle income.
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Eligible Persons and Families means a person or persons or family or families (1) intending principally and permanently to reside as a household in a Single-Family Residence; (2) whose total annual family income does not exceed the appropriate maximum annual family income; and (3) with respect to each person or persons who purchases a Single-Family Residence not located within a Targeted Area, each such person who is executing the Mortgage and occupying the Single-Family Residence is a first-time homebuyer.
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Eligible Persons and Families means Moderate Income Households who are First Time Homebuyers.
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Eligible Persons and Families means a person or persons and family or families (i) intending to temporarily or permanently reside in single family or multifamily housing funded under this Loan Agreement, and (ii) whose total income does not exceed the Maximum Current Annual Family Income.
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Related to Eligible Persons and Families

  • Eligible Persons or “Households” means one or more natural persons or a family who pays 30 percent of their household income toward their monthly rent and is determined by Grantee to be eligible for rental assistance under this Agreement.

  • Residential facility for persons with a disability means a residence:

  • Eligible Family Member means a member of the Subscriber’s family that is or becomes eligible to enroll for coverage under this Plan as a Dependent.

  • Specified Persons means the Directors, connected persons, the insiders, the Designated Employees and the promoters and immediate relatives are collectively referred to as Specified Persons.

  • Immediate Family Members means with respect to any individual, such individual’s child, stepchild, grandchild or more remote descendant, parent, stepparent, grandparent, spouse, former spouse, qualified domestic partner, sibling, mother-in-law, father-in-law, son-in-law and daughter-in-law (including adoptive relationships) and any trust, partnership or other bona fide estate-planning vehicle the only beneficiaries of which are any of the foregoing individuals or any private foundation or fund that is controlled by any of the foregoing individuals or any donor-advised fund of which any such individual is the donor.

  • Eligible Individuals means directors, officers, employees and consultants of the Company or any of its Subsidiaries or Affiliates, and prospective employees and consultants who have accepted offers of employment or consultancy from the Company or its Subsidiaries or Affiliates.

  • Family Members means any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law (including adoptive relationships) of the Participant, any person sharing the Participant’s household (other than a tenant or employee), a trust in which these persons (or the Participant) have more than 50% of the beneficial interest, a foundation in which these persons (or the Participant) control the management of assets, and any other entity in which these persons (or the Participant) own more than 50% of the voting interests.

  • Professional Persons means all Persons retained by order of the Bankruptcy Court in connection with the Reorganization Cases, pursuant to sections 327, 328, 330 or 1103 of the Bankruptcy Code, excluding any ordinary course professionals retained pursuant to order of the Bankruptcy Court.

  • Eligible Person means individuals, corporations, trusts, the estates of deceased individuals, partnerships and unincorporated associations of persons;

  • Persons with disabilities means persons who have long-term physical, mental, intellectual or sensory impairments which in interaction with various barriers may hinder their full and effective participation in society on an equal basis with others;

  • Ineligible Person shall include an individual or entity who:

  • Designated Persons means a person or entity (a) listed in the annex to, or otherwise subject to the provisions of, any Executive Order; (b) named as a “Specially Designated National and Blocked Person” (“SDN”) on the most current list published by OFAC at its official website or any replacement website or other replacement official publication of such list (the “SDN List”) or is otherwise the subject of any Sanctions Laws and Regulations; (c) in which an entity or person on the SDN List has 50% or greater ownership interest or that is otherwise controlled by an SDN.

  • Temporary Assistance for Needy Families or "TANF" means the program administered by the Department through which a relative can receive monthly cash assistance for the support of his eligible children.

  • Employees Stock Option” means the option given to the directors, officers or employees of a company or of its holding company or subsidiary company or companies, if any, which gives such directors, officers or employees, the benefit or right to purchase, or to subscribe for, the shares of the company at a future date at a pre-determined price.

  • interested persons and "Assignment" shall have their respective meanings as set forth in the 1940 Act, subject, however, to such exemptions as may be granted by the Commission under the 1940 Act or any interpretations of the Commission staff.

  • Non-Participating Marriage and Family Therapist means a Marriage and Family Therapist who does not have a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Dependents means dependents as defined in the Internal Revenue Code and as claimed in the taxpayer's federal income tax return for the taxable year or which the taxpayer would have been permitted to claim had the taxpayer filed a federal income tax return.

  • Affiliated Persons or "AFFILIATES" means

  • Persons with Special Needs means Person with special needs as defined in Section 420.0004(13), F.S.

  • Designated family member means any of the following:

  • Immediate Family Member means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, of a natural person referred to herein.

  • Consultants means employees and third party contractors which SAP utilizes to provide Services to Licensee.

  • Children of military families means: a school-aged child(ren), enrolled in Kindergarten through Twelfth (12th) grade, in the household of an active duty member.