Scroll Top

More Info

I own a home. Can I qualify for affordable housing?

If you own a home, you may still qualify to purchase or rent an affordable home.   The following guidelines apply:

  1. If you purchase or rent an affordable home, the affordable home must be your primary residence.  

  2. If you own a home without a mortgage, the value of the home must be less than the Regional Asset Limit set by the State annually.   An appraisal or listing with real estate agent is required to verify value.  Visit this article on income limits to find links to the Regional Asset Limits. 

  3. This Regional Asset Limit test does not apply to:

  • Properties with a mortgage even if the applicant’s equity exceeds the asset limit;
  • Cash or other assets; and
  • Applicants whose property taxes and fees on the property are more than 38 percent of the household’s income.