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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 OCO CALCULATIONS:2024 INCOME STANDARDS <br /> ORANGE COUNTY,CALIFORNIA <br /> II. Moderate Income.120%HCD Median Income-30%of Income Allotted to Housing Expenses <br /> 1-Bdrm 2-Bdrm 3-Bdrm 4-Bdrm <br /> A. Income <br /> Benchmark Household Size 2 3 4 5 <br /> Household Income $123,840 $139,320 $154,800 $167,160 <br /> %of Income Allocated to Housing 30% 30% 30% 30% <br /> Income Allotted to Housing $37,150 $41,800 $46,440 $50,150 <br /> S. Ongoing Expenses <br /> Utility Allowances $2,592 $3,396 $4,296 $5,268 <br /> HDAIInsurancefMaintenance 2,100 2,400 2,700 3,000 <br /> Property Taxes[1 A 6%of Affordable Price 4,220 4,681 5,128 5,445 <br /> Total Expenses $8,912 $10,477 $12,124 $13,713 <br /> C. Income Available for Mortgage $28,238 $31,323 $34,316 $36,437 <br /> D.Affordable Housing Price <br /> Supportable Mtg@7.23%Interest 2 $345,600 $383,300 $420,000 $445,900 <br /> Home Buyer Down Pymt @ 5%AffordabLe Price 18,200 20,200 22,100 23,500 <br /> Maximum Purchase Price $363,800 $403,500 $442,100 $469,400 <br /> Based on the Orange County Housing Authority utilities allowances effective as of 1 DO f24.Assumes!Electric Cooking;Electric <br /> Heating;Electric Water Heater;Basic Electric;Air Conditioning;Water;Sewer;and Trash. <br /> 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 amortization period.. <br /> Page 80 <br /> Resolution No. 2025-013 <br /> Page 87 of 87 <br />