Loans will be made to households earning at or below the following annual income levels (same as MHFA start up program - subject to change):
Household Income Level
3 and more
Household assets shall not be more than $50,000 after closing, excluding retirement accounts (i.e. 401 (k), 503 (b), IRA, SEP, etc.) However, a borrower who is 65 or older may have household assets up to $250,000 after closing, including retirement accounts.