PARTICIPANT ELIGIBILITY: Income limits - participating households must have an income at or below 80% of the area median income, as calculated by HUD. The current income limits are:

Household Size    Income Limits

        1                   $40,200 
        2                   $45,950 
        3                   $51,700
        4                   $57,450
        5                   $62,050
        6                   $66,650
       
The above figures are based on current, combined gross income of all household members age 18 or older who will live in the house. Income includes the following:

All full and part-time pay, self-employment income, b onuses, commissions and tips, d ividends and interest, i ncome from rent, Social Security benefits, u nemployment compensation, alimony and/or child support, and other income.

Minimum Income: Because the cost of housing in Tompkins County, a minimum annual income of $14,000 is required.

Finally, each applicant must have a credit history free from bankruptcy or serious credit problems that would make a first mortgage unobtainable from a lending institution.

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