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§ 1000.147 - When does housing qualify as affordable housing under NAHASDA?

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Housing qualifies as affordable housing, provided that the family occupying the unit is low-income at the following times:

In the case of rental housing, at the time of the family's initial occupancy of such unit;

In the case of a contract to purchase existing housing, at the time of purchase;

In the case of a lease-purchase agreement for existing housing or for housing to be constructed, at the time the agreement is signed; and

In the case of a contract to purchase housing to be constructed, at the time the contract is signed.

Families that are not low-income as described in this section may be eligible under § 1000.104 or § 1000.110.

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§ 1000.146 - Are binding commitments for the remaining useful life of property applicable to a family member or household member who subsequently takes ownership of a homeownership unit?
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