Section 7720 - Eligible HouseholdsTo be eligible to receive the benefits of CalHome funding, an individual household shall:
(a) be a lower-income household, when considering the gross income of all household residents eighteen (18) years old or older. For shared housing match services, where the provider is elderly, the income of non-occupying children who are on title will not be counted;(b) include as borrowers on the CalHome Program promissory note all persons who will be or are on title to the property; and(c) either: (1) in the case of a rehabilitation loan or if receiving shared housing match services, be an owner-occupant and intend to continue occupying the home as a principal place of residence; or(2) in the case of a mortgage assistance loan or if receiving self-help technical assistance services, be a first-time homebuyer and intend to occupy the home as a principal place of residence.Cal. Code Regs. Tit. 25, § 7720
1. New section filed 9-29-2003; operative 9-29-2003 pursuant to Government Code section 11343.4 (Register 2003, No. 40). Note: Authority cited: Sections 50406(n) and 50650.2, Health and Safety Code. Reference: Sections 50650(c) and 50650.3, Health and Safety Code.
1. New section filed 9-29-2003; operative 9-29-2003 pursuant to Government Code section 11343.4 (Register 2003, No. 40).