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<br />JO<1 <br /> <br />. De concentration <br />· Family must purchase only a home that passes IIQS inspection <br /> <br />6) The head of Iwuschold and / or co head mllst <br />be currently employed on a full-time basis and <br />have been continuously so employed during the year berore <br />commencement of homeowners hip assistance, Families in which the head <br />of household or co - head is dis[lblcd or elderly arc ('xempted from this <br />requirement. Families that include a person with disabilities may request <br />an exemption as a reasonablc accommodation. <br /> <br />7) 'fhe annual income of the adult t~Hnily members <br />who will OWI1 the home must be equal to or exceed the federal minimum <br />hourly wage multiplied by 2,000 hours. V/elfare assistance will not be <br />counted in detennining annual income, except for households in \\ihidl the <br />head or co ~. head is clderly or disabled and households that include a <br />disabled person other than head or co head, ("W'e1fi:lre assistance" <br />includes federal housing assistance or the housing component or a wellllre <br />grant; Jobs and Family Services assistance; SSI that is sul~icet to Hn <br />income eligibility test; food stamps; general assistmlC(~ 01' other assistance <br />provided under a federal, state or program that provides assistance <br />available to meet t~lInily living or housing expenses). <br /> <br />Time Frame to Purchase a Home (24 CFR 982.626(b), CFR 982.629(a) <br /> <br />An applicant will have a maximum of90 days from the date of issuance of a <br />voucher to find a home and enter into a Contract of Sale. <br /> <br />If an applicant is unable to entt~r into a Contract of sale bef()re the end of the initial <br />90 day period, the applicant \>,'ill be provided an extension of 90 days to either <br />enter into a Contract of Sale or utilize the voucher to rent a unit. <br /> <br />Any additional extension will be at the discretion of the MRHA Housing <br />Coordinator. <br /> <br />Portabilit), (24 CFR 982.636) <br /> <br />Families determined to be eligible for horneownership assistance may exercise the <br />Homeownership Option outside of MRIIA 's jurisdiction if the receiving public housing <br />