La. Admin. Code tit. 16 § II-703

Current through Register Vol. 50, No. 11, November 20, 2024

Section II-703 - Definitions

A. Notwithstanding the definitions set forth in LAC 16:I.301, the following terms, when used in this Chapter, are defined as follows.

Annual Family Income-the gross annual income, from all sources and before taxes or withholding, of all members of a family living in a housing unit.

Borrower-an individual or family applying to receive down payment assistance under the Turnkey Mortgage Origination Program.

Housing Unit-living accommodations intended for occupancy by a single family, consisting of one to four units, and which will be owned by the occupant thereof.

La. Admin. Code tit. 16, § II-703

Promulgated by the Department of Treasury, Louisiana Housing Corporation, LR 38:1996 (August 2012).

AUTHORITY NOTE: Promulgated in accordance with R.S. 40:600.1 et seq.