COLLEGE CREEK Affordable Affordable Affordable Affordable

2 Bedroom Rental Low Lower Moderate Median

Median Income 67,600 67,600 67,600 67,600 67,600
Ratio to median 78% 80% 95% 120% 100%
Max qualifying income 52,600 54,080 64,220 81,120 67,600
Sample interest rate 6.5% 6.5% 6.5% 6.5%
Down payment 10% 10% 10% 10%
HOA dues 1,200 1,200 1,200 1,200
Insurance 650 650 650 650
Taxes 2,500 2,500 2,500 2,500
Club - - - -
Care
Utilities & Maintenance 780 - - - -
Total Housing payment 15,780 16,224 19,266 24,336 20,280
Affordability Ratio 30% 30% 30% 30% 30%
Mortgage/Rent 1,250 11,874 14,916 19,986 15,930
Test Value $11,854 $14,818 $19,642 $15,852
Sales Price 172,000 215,000 285,000 230,000
Meets crieria? OK OK OK OK

2150 WC B Dev Pgrm.xlsx Affordability 1 of 1 2:59 PM 8/4/2008