Maximum Family Income definition

Maximum Family Income means the applicable amount set forth in the Program Guidelines for Non- Targeted Areas and Targeted Areas determined in accordance with Section 143(f) of the Code. The Maximum Family Income amounts shall be subject to adjustment from time to time in accordance with the applicable provisions of the Code and the Act.
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Maximum Family Income means the applicable amounts set forth in the Program Guidelines. Such amounts shall be effective until the Lenders receive an announcement from TSAHC or the Servicer of revised Maximum Family Income limits. For Eligible Borrowers described under clause (III) of the definition of “Eligible Borrower”, the amounts set forth in the Program Guidelines, or any revised amounts, shall not exceed 80% of the Applicable Median Family Income, without any adjustment for family size.
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Maximum Family Income means an amount of income not to exceed the income limitation described in Paragraph (5a) of the Program Guidelines.
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Examples of Maximum Family Income in a sentence

  • Only the income used to qualify the Mortgagor for repayment of the Mortgage Loan (from the Loan Application – 1003 and/or the applicable underwriting worksheet) will be compared against the Maximum Family Income limits associated with the Program.

  • Number of Persons in Family and Maximum Family Income Income limits for families with more than eight persons are not included in the printed lists because of space limitations.

  • For purposes of meeting the eligibility criteria associated with the Maximum Family Income limits, only the income of the Mortgagor(s) will be considered.

  • The Maximum Family Income limits and the list of Targeted Areas are set forth on TSAHC’s website at https://www.tsahc.org/lenders/resources-for-lenders#Income_and_Guidelines and the Lender Portal at www.tsm-online.org.For Non-Bond DPA (No MCC): For purposes of meeting the eligibility criteria, only the income of the mortgagor(s) will be considered.

  • The benefits of originating a Mortgage Loan in a Targeted Area are higher Maximum Family Income limits and higher Maximum Purchase Price limits.

  • Please see the Program Administrator’s website at www.tsahc.org or the Lender Portal at www.tsm‐online.org for the Maximum Family Income limits governing this Program.

  • Maximum Family Income: An amount of income not to exceed the income limitation as described in the MCC Procedural Manual, Appendix 4.

  • Otherwise, the Borrower may be deemed to exceed the Maximum Family Income limits, due to an inflated average, and be disqualified.

  • The consigner’s income should not be considered when calculating the Family Income for comparison against the Maximum Family Income limits established for the applicable Program.

  • COMPUTATION OF TOTAL INCOME Income Calculation Mortgagor (Annual Income) Co‐ Mortgagor (Annual Income) *This total cannot exceed the Maximum Family Income limit established for the Program.


More Definitions of Maximum Family Income

Maximum Family Income means Family Income in an amount equal to or less than 100 percent of the applicable median family income (with respect to Residences for one and two-person families) and 115 percent (with respect to Residences for families of three or more persons). In the case of Mortgage Loans for Residences in the Targeted Area, the limitations of the immediately preceding sentence shall be applied by substituting "120" percent for "100" percent and "140" percent for "115" percent. Applicable median family income is the greater of (A) the area median gross income for the area in which the Residence is located or (B) the area median gross income for the State. The "area median gross income" for an area or the State shall be determined in a manner consistent with the determination of "median gross income" for the area or the State under section 8 of the United States Housing Act of 1937, as amended, with adjustments for areas of unusually high or low income. These adjustments shall be made in the manner that these adjustments are made for purposes of section 8 of the United States Housing Act of 1937, as amended. Thus, in determining area median gross income, the Revised Income Limits for Lower Income and Very Low Income under the Housing Act of 1937 shall be used. A different Maximum Family Income may be specified by the Commission in a Commission Notice in connection with Taxable Loan Programs or to take into account changes in the Code. In no event shall Maximum Family Income exceed the maximum total annual income determined by the Commission from time to time in accordance with applicable Missouri law.
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Maximum Family Income means the applicable amounts set forth in the Program Guidelines. Such amounts shall be effective until the Lenders receive an announcement from REI Oklahoma or the Servicer of revised Maximum Family Income limits.
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Maximum Family Income means the applicable maximum annual Family Income amounts which are set forth in the Program Guidelines. Such amounts shall be subject to adjustment at the discretion of the Authority.
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Related to Maximum Family Income

  • Family income means all income that is included in a determination of family income under section 143(f) of the internal revenue code, 26 USC 143(f), together with the income of all adults who will reside in the residence, which income might otherwise be excluded from consideration because the individual was not expected to both live in the residence and be primarily or secondarily liable on the mortgage note.

  • Maximum Term Loan Amount means Forty Million and No/100 Dollars ($40,000,000).

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Maximum Loan Amount has the meaning set forth in Section 2.1(a).

  • Maximum Stock Loan Rate As provided in Annex A to this Confirmation.

  • Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income (including any other fees, other than fees for providing managerial assistance, such as commitment, origination, structuring, diligence and consulting fees or other fees that the Corporation receives from portfolio companies) accrued during the calendar quarter, minus the Corporation’s operating expenses for the quarter (including the Base Management Fee, expenses reimbursed to the Adviser under this Agreement and any interest expense and dividends paid on any issued and outstanding preferred stock, but excluding the Incentive Fee). Pre-Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as original issue discount debt instruments with payment-in-kind interest and zero coupon securities), accrued income that the Corporation has not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation.

  • Maximum Revolver Amount means $100,000,000, decreased by the amount of reductions in the Revolver Commitments made in accordance with Section 2.4(c) of the Agreement.

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Maximum Limit means that number of issued Shares representing 10% of the total number of issued Shares as at the date of the passing of this Resolution (excluding any Shares which are held as treasury shares as at that date); and

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Maximum Revolving Advance Amount means $35,000,000.

  • Grandfathered Percentage means, with respect to any Grandfathered Person, the percentage of the outstanding shares of Common Stock of the Company that such Grandfathered Person, together with all Affiliates and Associates of such Grandfathered Person, Beneficially Owns as of the Grandfathered Time, plus an additional 1/2%; provided, however, that, in the event any Grandfathered Person shall sell, transfer, or otherwise dispose of any outstanding shares of Common Stock of the Company after the Grandfathered Time, the Grandfathered Percentage shall, subsequent to such sale, transfer or disposition, mean, with respect to such Grandfathered Person, the lesser of (i) the Grandfathered Percentage as in effect immediately prior to such sale, transfer or disposition or (ii) the percentage of outstanding shares of Common Stock of the Company that such Grandfathered Person Beneficially Owns immediately following such sale, transfer or disposition, plus an additional 1/2%.

  • Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Daily Maximum Cash Amount means, with respect to the conversion of any Note, the quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty (40).

  • Excess Cash Flow Percentage 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.

  • Adjusted Covered Debt Balance means, on any date, the aggregate Covered Debt Amount on such date minus the aggregate amount of Cash and Cash Equivalents included in the Portfolio Investments held by the Obligors (provided that Cash Collateral for outstanding Letters of Credit shall not be treated as a portion of the Portfolio Investments).

  • Per capita income means the average for the most recent three years for

  • Deductible Amount means, with respect to any Insuring Agreement, the amount set forth under the heading “Deductible Amount” in Item 3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.