- Nov 29, 2006
- 17,458
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So I was bored and looked up real estates for sale in the area and ran in to some that were marketed as BMR (Below Market Rates) housing.
Apparently, these are considered below market rates, but they have something called an income limit. As an example, I saw a listing for a condo for $322100 but the have an income limit table as follow:
Household - Income 90% Limit
4 person - 91,450
5 person - 98,800
6 person - 106,050
7 person - 113,400
My guess is that if you make more than those limits, you can't buy that place? That's a tight stretch for a family with ~100K to afford ~$330K house, not factoring in HOA, taxes, etc... Who designed this crap?
Apparently, these are considered below market rates, but they have something called an income limit. As an example, I saw a listing for a condo for $322100 but the have an income limit table as follow:
Household - Income 90% Limit
4 person - 91,450
5 person - 98,800
6 person - 106,050
7 person - 113,400
My guess is that if you make more than those limits, you can't buy that place? That's a tight stretch for a family with ~100K to afford ~$330K house, not factoring in HOA, taxes, etc... Who designed this crap?
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