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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 />AHOCO CALCULATIONS: 2024INCOME STANDARDS <br />ORANGE COUNTY, CALIFORNIA <br />II. Moderate Income: 1201,o HCD Median Income - 30% of Income Allotted to Housing Expenses <br />1-Bdrm <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 />B. Ongoing Expenses <br />Utility Allowances <br />$2,592 <br />$3.396 <br />$4,296 <br />$5,268 <br />HOA/Insurance/Maintenance <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 />5.128 <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. Affordable Housing Price <br />Supportable Mtg @ 7.23% Interest ' <br />$345,600 <br />$383.300 <br />$420.000 <br />$445.900 <br />Home Buyer Down Pymt @ 5%Affordable 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 allowances effective as of 10/1/24. 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 />