For loans made to assist housing owned by owner-occupants, all units assisted with loans under this section shall be principal residence of families with income at or below 80% of the area median income level and shall be occupied by a child under the age of six years or shall be units where a child under the age of six years spend a significant amount of time visiting.
Landlords and Tenants
For the purposes of determining occupancy eligibility, the term “family” includes:
- ·At least one adult over the age of 18 and a child under the age of six, with either permanent legal residence with the adult in the dwelling being assisted or spends a significant amount of time visiting the adult’s residence; or
- ·A pregnant woman
- ·Income eligibility is determined on tenant income not landlords.