| WHO QUALIFIES TO BUY?
To purchase a Single Family
Residential Property, Purchasers can be:
1. An individual or family whose income does not
exceed 115 percent of area median income and who will for at least one year occupy the
home as the principal place of residence. If the buyer sells the home before residing
there one full year, the FDIC recaptures 75 percent of the profit on the resale price.
2. A nonprofit organization or public agency
which agrees to rent or resell the property to lower-income families whose adjusted
incomes are less than 115 percent of area median income.
Purchasers are required to provide verification
of income such as tax returns and pay stubs. Falsifying income and other
program-qualifying data could lead to criminal prosecution.
ELIGIBLE SINGLE FAMILY
RESIDENTIAL PROPERTIES
Single family residential
properties in FDIC's inventory that are
appraised under the following limits are sold exclusively to low- and moderate-income
buyers, and to nonprofit and public agencies during a 90-day marketing period:
- Single (one-family unit):$101,250
- Duplex (two-family unit):$114,000
- Triplex (three-family unit):$138,000
- Fourplex (four-family unit):$160,000
FDIC AFFORDABLE HOUSING
PROGRAM CONTACTS
Please call or e-mail one of the
Affordable Housing Program Account Officers if
you have a question regarding the program. If you have a question
regarding a particular property, please call the contact person listed on
the property list when there is property for sale.
|
