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TABLE 2 <br /> <br /> AFFORDABILITY [NOEX <br /> <br />Affordable units priced at $219,000 with first mrtgage based upon a 2-1 bydown program for first-tim hane <br />buyers. Initial annual rate in 1993 of 51, 1994 rate of 71I, and 1995 (and thereafter) rate of 81C. <br /> <br /> 1993 (1) 1994 1995 1996 1997 <br /> <br />101C down payment $21,900 $1,181.71 $1,308.50 $1,437.78 $1,438.78 $I,43~.78 <br />90X First $197,108 381.(~) (3) 381.08 381.00 38~.00 381.00 <br /> , $1,562.71 $1,089.50 $1,818.78 $1,818.78 $1,818.78 <br /> <br />Affordability Index (2) <br />* 4 parson household 106.3 109.5 112.3 108.9 101.6 <br />* 5 parson household 98.6 101.5 104.5 99.1 94.2 <br /> <br />(1) Asses units first sold in 1993. <br /> <br />(2) Assa,tng that a maxiM of 35I of heusehold tncma can he sllouted to housing expenses in any year <br /> (sa the accompanying Table 1, e,tttled "Nonthly lieusing Costs for 4 5 Person Households"), this <br /> category indicates the minimum household incaae (as a parcentageof the OaklandPNSAmedian incmmfor <br /> thetimer) which will enable a moderate inccmhousehold tequalifytopurchaseormof the 16'moderate <br /> incanew units. <br /> <br />(3] Property Taxes (1,21l) $219/mo, <br /> Hazard Insurance (0.211) 37 <br /> PHI 100 <br /> Association Dues Z5 <br /> $318/m <br /> <br /> <br />