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Income Requirements
Stone School Home | Floor Plans | Purchase Price | Resale
Review the Income Limit Chart per houshold size to determine income eligibility (see chart below) If you determine you are income eligible please contact Kamala Massey at (734) 434-6559 for an application. Applications may be mailed out or picked up at the POWER office located at 4825 Washtenaw. Pickup time for applications is between 10AM and 2PM Monday thru Friday. All applications are due by August 15, 2003 at 5:00 PM. A $100.00 processing fee is due upon submission of application.
Income Limits:
There are three price categories for Stone School Townhome units. Family income will be verified to determine the level of subsidy for which a family is eligible. NOTE: Numbers of units available at each income level are limited (see Unit Specifications Chart).
| Family Size |
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1 |
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2 |
|
3 |
|
4 |
|
5 |
|
6 |
|
7 |
|
8 |
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| Subsidized Affordable Units
Lower income (60%AMI*) |
|
$32,640 |
|
$37,320 |
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$41,940 |
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$46,620 |
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$50,340 |
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$54,060 |
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$57,780 |
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$61,560 |
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| Required Affordable Units
Lower income (80%AMI*) |
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$39,550 |
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$45,200 |
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$50,850 |
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$56,500 |
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$61,000 |
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$65,550 |
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$70,050 |
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$74,600 |
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| Below Market Units
Median income (100% AMI*) |
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$54,400 |
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$62,200 |
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$69,900 |
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$77,700 |
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$83,900 |
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$90,100 |
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$96,300 |
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$102,600 |
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*AMI = Area Median Income limit according to the HUD 2003 guideline.
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