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<br />The homes Advanced Design plans on building, in this area are going to be
<br />built I
<br />and marketed for thel, fztmily buying tear first h,ome.1 Currently, the
<br />p r (,) 1) os lv I c, r I ter. r - C
<br />7
<br />a ) Buyers, have not previously owned, a home.
<br />11) Bu, ye rs can noL exceed, the, incolm ,uideli,n,es,
<br />0 In the first &iA*q& years, if' the home is sold, it
<br />must be sold to buyers meeting the same guidelines.
<br />Listed biel,olw are som�e ex,am�pleisil of past clients and, their ability to qualify
<br />W
<br />for, a FHA mortgage and meet, the first time home buyer guidelines,
<br />1. The husband is a, c,ompluter repair peirsoin and, his wife doles, day
<br />I
<br />carei at h,o,m�e. 'll-rilivy, have 2, children,,, 4, yrs.1 andi 8 mos. a The total
<br />$33,000. w1th debt of $130.00 ® month on a Visa card.
<br />9111
<br />ley qualify tol buy a, home of' $831,000.
<br />2.41 The husband attends the University and works there part-time,
<br />HILS wife is a RN and they have 2 youn,g, children. The total, income
<br />I
<br />is $'312,91001. with a, student lean debt of $1451. a month.
<br />They qualify to buy a home at $ 8111000.
<br />341 The if works part-ti,me even,i,ngls and weekends at J-C* Penny's
<br />Her, husband is a machInist. They have twins 2-1, yrs. old. Total
<br />irtcolfll(� is $313,,800. They pay $25. a month, on it Wic,ks fu,r'nitu,re
<br />C h C'.1 r g el .
<br />'I"hey qualify to, buy a home at $88,700,
<br />4. I'lle wife does noL work, outsiLde of the home. Her husband, manages
<br />a, meat processing plant., They have 4 child,ren. Total income is
<br />$35,000.1 and 'they curreintly have no debt on monthly install-
<br />Me [I ts�.
<br />They dual ify to buy a, home over $100,10100.,
<br />6,11c.11 [irst- Lime llome buyer qualifies for a mortgage, many fact-
<br />01-f--1 'if fecl- I hoi r (111"itifing abi] ty,J for exaMple, in Come, debt,
<br />(sollitie debts Count
<br />solvie do not) Olvertime, pist (,ind future raises
<br />c
<br />z I c h fil 111 i
<br />1.,or a Yr., fixed, rc-i L, cA loan Va buyer will need approx-
<br />ii-liaLeLy $3,500. to
<br />5I, f 11iinimum. down and closing cost,
<br />(Lhis moiiivy c;ill, Ti(A be� blorro%ved,1 bul may be a gif't.1) and will
<br />vary depeind-Dig, Lhe Pl-lce olf the hoine,
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