California Code of Regulations
Title 25 - Housing and Community Development
Division 1 - Housing and Community Development
Chapter 6.5 - Program Operations
Subchapter 2 - Program Eligibility and Affordability for Lower Income Households
Section 6920 - Housing Cost of a Purchaser
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
"Housing cost" of a person or family purchasing a housing unit shall include all of the following associated with that housing unit:
(a) Principal and interest on a mortgage loan including any rehabilitation loans, and any loan insurance fees associated therewith.
(b) Property taxes and assessments.
(c) Fire and casualty insurance covering replacement value of property improvements.
(d) Property maintenance and repairs.
(e) A reasonable allowance for utilities, including garbage collection, sewer, water, electricity, gas, and other heating, cooking, and refrigeration fuels. Utilities does not include telephone service. Such an allowance shall take into consideration the cost of an adequate level of service.
(f) Homeowner association fees.
(g) Space rent, if the housing unit is situated on rented land.
Monthly housing cost of a purchaser shall be an average of estimated costs for the next twelve months.
Note: Authority cited: Section 50052.5, Health and Safety Code. Reference: Section 50052.5, Health and Safety Code.
