Investor Presentaiton
HOME OWNERSHIP AFFORDABILITY BY
HOUSEHOLD INCOME, 2020
Household
Income Category
Extremely Low
Very Low
Income Limits based on the
2020 MFI of $86,900 in North
Dakota defined by HUD
Less than $26,070
Maximum
Home Sales that Met
Affordable Purchase
Affordability Limits based on
Price
Purchase Price
$78,864
795
$26,070
$43,450
$131,440
2,128
Low
$43,451
$69,520
$210,305
5,835
Lower Moderate
-
$69,521 $99,935
$302,313
8,325
Moderate
$99,936 - $121,660
$368,033
8,977
Upper
$121,661 or more
$441,640
9,342
Lower (0-60% MFI)
Less than $52,140
$157,729
3,179
Assumptions for the Maximum Affordable Purchase Price: 30-year loan fixed at 5%, property taxes at 1% of the loan, property insurance at 1% of
the loan, 5% down, front-end debt-to-income ratio at no more than 28%, back-end ratio including all monthly debts at no higher than 36%View entire presentation