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February 2016

AHP Maximum Rent Guidance

FhlbpittsFHLBank Pittsburgh has issued guidance on how to calculate a household's rent in accordance with the 30% maximum rent rule in AHP regulation 12 C.F.R. 1291.1. According to the guidance, the rent charged to a household for an AHP unit that is to be reserved for occupancy by a household with an income at or below 80% of the AMI, must not exceed 30% of the income of a household of the maximum income and size expected, under the commitment made in the approved AHP application, to occupy the unit. FHLBank Pittsburgh's Technical Guidance 2015-01 can be found here.

The information presented in this post is intended solely for informational purposes and should not be construed as advice from McKonly & Asbury, LLP.