MODERATE - INCOME

This is an equal housing opportunity.

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We pledge to the letter and spirit of U.S. Policy for achievement of equal housing opportunity throughout the Nation.

We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, religion, sex, handicap, familial status or national origin.

 

About this project: 

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*Quetzal Consulting is the Administrative Agent for this property. 

We are not the owners or property mangers.*​​

        

            

Utilities are not included.

Please read below before

proceeding to the preliminary application at the end of this page.

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What is the priority preference? 

 

In accordance with the agreement for this project:

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This home will be sold on a first come first served basis.

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What are the income limits for this project ? 

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This project has units that are available to“moderate income” qualified applicants whose combined household income, including assets, meet the criteria for this affordable housing project  “Moderate Income” is defined as the total combined gross annual income for all members of a household whose total income is greater than 50% but does not exceed 80%, of the area median income for the Jersey City FMR Metro Area as defined by the US department of of Housing and Urban Development for 2025.

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Income 2025 limits for MODERATE-INCOME HOUSING are as follows: 

 

Maximum 80% of AMI

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Income for a 1 person household - $75,050

 

Income for a 2 person household - $85,800

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 Income for a 3 person household - $96,500

 

 Income for a 4 person household - $107,200

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 Income for a 4 person household - $115,800

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What is the application criteria for this project ?

 

*Read all Rules before you apply*

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• Must meet Moderate-Income criteria for household size based on recently publishd H.U.D. Home Income Limits for household earning equal to or less than 80% of Area Median Income for Jersey City Metro Area 

• Buyer must provide own funds of at least 5% of the purchase price

• Minimum credit score: ~680 (may vary by lender)

• Renters for the second unit must also meet Moderate-Income criteria and may spend no more than 35% of their income on rent. The rental price is $1938 a month excluding the utility allowance.

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All purchasers must provide:

• Lender pre-approval

• Income certification

• Mortgage commitment

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• The criteria to verify income, assets and household will be used according to 24 CFR Part 92 and the agreements, Deed Restrictions and any covenants, conditions and restrictions that follow the property.

• Minimum Income: Subject to household size, down payment, and lender approval.

• Applicants are encouraged to have heavy assets to put down towards the purchase price.

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