CHDO Home Buyers Qualifications

Jefferson Park Neighborhood Association is a Community Housing Development Organization (CHDO) and some of the houses we build and rehab are financed using federal money. When purchasing these properties potential buyers must meet income guidelines as outlined by HUD (Dept. of Housing and Urban Development). These guidelines are based on the buyers income and number of dependents.

To learn more details about how to qualify to purchase one of the JPNA constructed homes contact Pam Bigham at 405-301-0411. If your income is within the family limits below and have good credit, we will assist you by directing you to the agencies and lenders that can qualify you for the down payment assistance (up to $14,299) and a standard home mortgage.

The current maximum yearly income for families are as follows:
1 person family- $36,150
2 person family- $41,300
3 person family- $46,450
4 person family- $51,600
(info for additional family sizes available)

*Income exclusions include child support; money that was inherited, willed, or given as a gift; and life insurance proceeds received as a result of someone’s death.

Leave a Reply

Your email address will not be published. Required fields are marked *