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APPENDIX B - EXHIBIT I
<br />AFFORDABLE SALES PRICE CALCULATIONS 1
<br />2021 INCOME STANDARDS
<br />OWNERSHIP HOUSING DEVELOPMENT
<br />HOO: IN-LIEU FEE ANALYSIS
<br />SANTA ANA, CALIFORNIA
<br />Three-Bedroom
<br />Units
<br />Four-Bedroom
<br />Units
<br />Four-Bedroom
<br />Units
<br />Five-Bedroom
<br />Units
<br />I.Income Information
<br />Area Median Income 2 $106,700 $115,250 $106,700 $115,250
<br />Household Income as a Percentage of AMI 110%110%110%110%
<br />Benchmark Household Income $117,370 $126,775 $117,370 $126,775
<br />Percentage of Income Allotted to Housing Expenses 35%35%35%35%
<br />Income Allotted to Housing Expenses $41,080 $44,371 $41,080 $44,371
<br />II.Expenses
<br />Annual Utilities Allowance 3 $2,976 $3,756 $3,756 $3,780
<br />HOA, Maintenance & Insurance 3,360 3,600 1,920 2,160
<br />Property Taxes @ 1.16% of Affordable Sales Price 6,180 6,580 6,300 6,830
<br />Total Expenses $12,516 $13,936 $11,976 $12,770
<br />III.Income Available for Mortgage $28,564 $30,435 $29,104 $31,601
<br />IV.Affordable Sales Price
<br />Supportable Mtg @ 3.88% Interest 4 $505,900 $539,000 $515,400 $559,700
<br />Home Buyer Down Payment @ 5% Aff Sales Price 26,600 28,400 27,100 29,500
<br />Affordable Sales Price $532,500 $567,400 $542,500 $589,200
<br />V.Estimated Achievable Price 5 $483,000 $542,500
<br />1
<br />2 Based on the H&SC Section 50052.5 that sets the benchmark household sizes equal to the number of bedrooms in the unit plus one.
<br />3
<br />4
<br />Based on 2021 Orange County household incomes published by the California Housing & Community Development Department (HCD). The
<br />Affordable Sales Price calculations are based on the California Health and Safety Code Section 50052.5 methodology.
<br />Utilities allowances are based on the Orange County Housing Authority utility allowances effective as of 12/1/20. Assumes: Gas Cooking, Gas
<br />Heating, and Gas Water Heater; Basic Electric; Water, Sewer; and Trash.
<br />Based on a 50 basis points premium applied to the Bankrate site average APR as of June 17, 2021 for a fixed-interest rate loan with a 30-year
<br />amortization period.
<br />Condominium & Townhome Units Single Family Homes
<br />Prepared by: Keyser Marston Associates
<br />File name: 6 24 21 SA HOO Own; ASP
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