Amendments to the Affordable Housing Programme – Increasing the opportunity for home ownership
Effective February 2017, the qualifying income of persons eligible for the 2% interest rate, has moved from $10,000 to $14,000: these persons can also now access properties valued up to $1M. Those earning between $14,001 and $30,000, can now benefit from a 5% interest rate and can access properties valued up to $1.5M
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Revision to the Ministry’s Allocation Policy – Low and Middle Income Families are not left behind
In order to ensure that low to middle income earning families are not left behind, the Ministry has reverted the approved income ceiling from $45,000 to $25,000.
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