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One of Sarasota County’s goals for "My
Own Home" is to create an
opportunity for households with moderate to very low income to own
a home that is safe, healthy, and continually affordable for the
life of the property. Although the qualification process can
best be done with one of the program's non-profit partners,
the following items outline the basic qualifications.
Basic qualifications include:
- Household Income: Applicants must have a
stable history of household income
- Income Qualifications: Total household
income cannot exceed 100 percent of the Area Median Income (AMI)
adjusted to household size
- Home Location: Homes are located in three specific geographic areas.
These areas are shown in
"Where can I buy a
home?"
|
Maximum Income Limits |
|
Neighborhood Stabilization
Program - Sarasota County |
|
FY 2009 |
| |
Persons Per Household |
Middle Income Limits |
|
| |
|
100 percent |
|
| |
1 |
$43,600 |
|
| |
2 |
$49,850 |
|
| |
3 |
$56,100 |
|
| |
4 |
$62,300 |
|
| |
5 |
$67,300 |
|
| |
6 |
$72,300 |
|
| |
7 |
$77,300
|
|
| |
8 |
$82,200 |
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There is more to the affordability of a home
beyond the monthly mortgage payment; including: utility costs,
insurance, location in relation to available transportation,
commercial needs, employment needs, and recreational
opportunities.
If you meet the income requirements and wish
to buy a home within one of the target areas, contact
anyone of these
non-profit developers. These organizations are experienced and
are capable of working with you to meet all the further
qualifications of purchasing a home. They
are fully committed to serving the potential homebuyer and
helping to shepherd them throughout the entire process.
Owning a
home is a long term commitment, and this is an unprecedented and
short time opportunity to own a home that can be safe, healthy,
and affordability for you and your family for many years to
come.
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