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Price to be set in advance of identifying a specific buyer. The Affordable Sales Price for each <br />Affordable Unit is determined by using three -bedroom unit and presumed household size of four <br />and by using four -bedroom unit and presumed household size of five. <br />AFFORDABLE SALES PRICE CALCULATIONS <br />JANUARY 1 - MARCH 31. 2025 <br />AH O C O CALCULATIONS; 2024 INCOME STANDARDS <br />ORANGE CCU NTY, CALIFORNIA <br />IL Moderate In come.120%HCD Median Income- 30%of Income Allotted to Housing Expenses <br />1-Bdrrn <br />2-Bdrm <br />3-Bdrm <br />4-Bdrm <br />A. Income <br />Benchmark Household Size <br />2 <br />3 <br />4 <br />5 <br />Household Income <br />$123,840 <br />$139,320 <br />$154,800 <br />$167,160 <br />% of Income Allocated to Housing <br />30% <br />30% <br />30% <br />30% <br />Income ALlotted to Housing <br />$37,150 <br />$41,800 <br />$46,440 <br />$50,150 <br />5. Ongoing Expenses <br />Utility Allowances <br />$2,592 <br />$3,396 <br />$4,296 <br />$5,260 <br />HOAIInsurancelMaintenance <br />2,100 <br />2,400 <br />2,700 <br />3,000 <br />Property Taxes @ 1.16% of Affordable Price <br />4,220 <br />4,681 <br />5,12E <br />5,445 <br />Total Expenses <br />$8,912 <br />$10,477 <br />$12,124 <br />$13,713 <br />C. Income Available for Mortgage <br />$28,238 <br />$31,323 <br />$34,316 <br />$36,437 <br />D. AffordableHou9ingPrice <br />Supportable Mltg@7.23%Interest <br />s $345,600 <br />$383,300 <br />$420,000 <br />$44.5,900 <br />Home Buyer Down Pymt @ 5%Afford able Price <br />18,200 <br />20,200 <br />22,100 <br />23,500 <br />Maximum Purchase Price <br />$363,800 <br />$403,500 <br />$442,100 <br />$469,400 <br />Based on the Orange County Housing Authority utilities atlowances effective as of 1011124. Assumes: Electric Cooking; Electric <br />Heating; Electric Water Heater; Basic Electric;AirConditioning; Water; Sewer, and Trash. <br />2 Based on a 50 basis points premium applied to the Freddie Mac monthly average, between February 2024 and January 2025 for a <br />fixed interest rate mortgage loan with a 30-year amorlUzation period.. <br />Page 80 <br />