- Persons
participating in the SHIP program must meet the following requirements:
Income
Level A household's total annual gross income level must be classified
as either very low, low, or moderate income. (Please see the
chart for income levels.)
- Employment. At least one of the household members must
currently be employed. (including having been continuously employed
- Assets. A household's total assets shall not exceed $20,000.00
- Credit Verification. An applicant shall have a satisfactory
credit rating for at least the previous one (1) year.
- Homebuyer Status. No member of household shall have
owned a home for at least three (3) years before being approved
to receive downpayment/closing cost assistance from the LHAProgram.
- Price/Rent Limitations. Purchase prices for homes
and rental rates for rental housing may not be higher than limits
set by the LHAProgram.
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