Section 302.201 Borrower Eligibility/Prioritization

Section 302.201  Borrower Eligibility/Prioritization

a)         To be

eligible for assistance under HAF program, Eligible Homeowners must have annual

income equal to or less than 150% of the Area Median Income. The Authority

plans to use HUD’s definition of “annual income” in 24 CFR 5.609 or use

adjusted gross income as defined for purposes of reporting on Internal Revenue

Service (IRS) Form 1040 series for individual federal annual income tax

purposes, as applicable and as permitted by the U.S. Department of the

Treasury.

b)         Not

less than 60% of HAF funds available to the Authority will be used for

qualified expenses that assist Eligible Homeowners having incomes equal to or

less than 100% of the Area Median Income or equal to or less than 100% of the

median income for the United States, whichever is greater. Any amount not made

available to Eligible Homeowners that meet this income-targeting requirement

must be prioritized for assistance to Socially Disadvantaged individuals, with

funds remaining after such prioritization being made available for other

Eligible Homeowners.

c)         For

an applicant to be eligible to receive a HAF Grant, the Homeowner must qualify

as an Eligible Homeowner.

d)         The

Authority shall not disqualify an otherwise Eligible Homeowner from any HAF

Program funding based on previous application for or receipt of other similar

federal assistance for periods that are different than the Eligibility Period.