Maximum Household Income Limit definition

Maximum Household Income Limit means the maximum Annual Family Income permitted by the Program of an Eligible Mortgagor, determined pursuant to Section 4.08 hereof, as may be modified from time to time by the Authority.
Maximum Household Income Limit means the amount specified as such as set out in Exhibit H-1 attached hereto, which may be unilaterally revised from time to time by the Authority.
Maximum Household Income Limit shall have the meaning assigned to that term in Section 2.1(k) hereof.

Related to Maximum Household Income Limit

  • Median household income (MHI) means the calculation computed by the U.S. Census Bureau - Income of Households - This includes the income of the householder and all other individuals 15 years old and over in the household, whether they are related to the householder or not. Because many households consist of only one-person, average household income is usually less than average family income. The median divides the income distribution into two equal parts: one-half of the cases falling below the median income and one-half above the median. For households and families, the median income is based on the distribution of the total number of households and families including those with no income. The median income for individuals is based on individuals 15 years old and over with income. Median income for households, families, and individuals is computed on the basis of a standard distribution.

  • Household income means the combined income of the members

  • Gross household income means gross income of a household as those terms are defined in rules of the authority.

  • Moderate-income household means a household with a total gross annual household income in excess of 50 percent but less than 80 percent of the median household income.

  • Lower income household means a household having an income equal to or less than the