Housing Expense definition

Housing Expense means the sum of the mortgagor's monthly maintenance expense in a common interest community, utility expense, heating expense, hazard insurance payment, taxes and required mortgage payment, including escrows;

Housing Expense means the sum of the Eligible Mortgagor's monthly maintenance expenses in a common interest community, utility expense, heating expense, hazard insurance payment, taxes and required mortgage payment, including escrows, and costs arising from uninsured damage to the mortgaged property which affects livability and necessitates repairs associated with the Eligible Mortgagor's primary residence only.

Housing Expense means a tenant’s costs for rent, parking for one motor vehicle, Utilities or an equivalent Utility Allowance, and any recurring expenses required by the Owner as a condition of tenancy. Expenses that the Owner makes optional, such as pet rent or extra storage space, are not considered Housing Expenses for the purpose of this Contract.

Examples of Housing Expense in a sentence

• If the property is a two- to four- unit property for which the applicant occupies one of the units as a principal residence, the monthly rental income should be listed as "net rental income." Combined Monthly Housing Expense: The present monthly housing expenses for the borrower and the co- borrower should be listed on a combined basis.

• Monthly Income and Combined Housing Expense InformationGross Monthly IncomeApplicantCo-Applicant* Self Employed Applicant(s) may be required to provide additional documentation such as tax returns and financial statements.

• The Total Housing Expense for the Sixty Percent Units will be limited to the lesser of one-twelfth (1/12th) of thirty percent (30%) of the of the MTSP Limits 60% limit , adjusted for family size, as established by HUD.

• The Total Housing Expense for the *** Units will be limited to one-twelfth (1/12th) of thirty percent (30%)[if other units are at 50% of median income] the MTSP Limits Very Low Income limit, adjusted for family size [if the limit is other than 50%] ***% of area median gross income based upon the MTSP Limits, adjusted for family size.

• Monthly Housing Expense Ratio (HER), or front-end ratio: The mortgage payment, including HOA fees, escrows for taxes and insurance, cannot exceed 33% of Applicant’s gross monthly income if their mid credit score is 650-699, and cannot exceed 35% if their mid credit score is 700 or higher.

More Definitions of Housing Expense

Housing Expense means, in the case of renter-occupied housing, rent, tenant-paid utilities, one parking space, and other tenant expenses required for the dwelling unit; and in the case of owner-occupied housing, mortgage, mortgage insurance, property taxes, property insurance, and homeowner’s dues.

Housing Expense means either (a) if Executive purchases a single family residence (or condominium unit) in Bermuda and lives there during the Term (a “Residence”), the scheduled monthly mortgage principle, interest payment, and property tax payments paid by Executive for such Residence for each month during the Term in which Executive resides in the Residence for the entire month, provided that the term of the mortgage is at least 15 years at prevailing interest rates and that Executive provides a copy of the mortgage and any other documentation relating to such purchase or mortgage payments as requested by the Company, or (b) the rent paid by Executive for a residence in Bermuda for each month during the Term in which Executive resides in such residence for the entire month, provided that Executive provides a copy of the lease and any other documentation relating to such rent payments as requested by the Company. Such Housing Expense reimbursement payments will be made by the end of the month following the month in which documentation of the mortgage or rent payment is provided to the Company.

Housing Expense means the sum of the mortgagor’s monthly utility, hazard insurance expense, real estate taxes and required mortgage payments, including escrows; and

Housing Expense means a tenant’s costs for rent, parking for one motor vehicle if a parking space is available, Utilities or an equivalent Utility Allowance, and any recurring expenses required by the Owner as a condition of tenancy (including but not limited to renter’s insurance, pest control, and sewer system capacity charges). Expenses that the Owner makes optional, such as pet rent, extra storage space, or extra parking, are not considered Housing Expenses for the purpose of this Contract.

Housing Expense means the sum of the homeowner's monthly

Housing Expense means the amount of rent attributable to a rental unit plus the cost of gas, electricity, water, and sewer services if not included in the rent and if paid by the occupant of such rental unit, but shall exclude any security deposit.

Housing Expense means the sum oE the mortgagor's monthly