MISSISSIPPI HOME CORPORATION (MHC)
HOME INVESTMENT PARTNERSHIPS (HOME) PROGRAM
RELEASE OF 2020 HOME PROGRAM INCOME LIMITS
PROGRAM BULLETIN #20-006
TO: Potential Applicants, Recipients and Subrecipients of HOME Awards
FROM: MHC /Federal Programs
SUBJECT: FY 2020 HOME Program Income Limits
DATE: June 29, 2020
MHC is issuing Bulletin # 20-006 to announce the issuance and effective date of the FY 2020 HOME Program Income limits. The FY 2020 effective date of these limits is July 1, 2020. The 2019 Income limits remain in effect until July 1, 2020.
These Income Limits are based on HUD estimates of median family income, with adjustments based on family size. The 30 percent income limits for the HOME program have been calculated based on the definition of Extremely Low–Income Family (ELI) as described at 24 CFR Part 91.5. ELI is defined as very low–income families whose incomes do not exceed the higher of the Federal poverty level or 30% of area median income. Family sizes in excess of 8 persons are calculated by adding 8% of the four-person income limit for each additional family member.
A complete set of the 2020 HOME Rent Limits is posted on the HOME Program web page on the respected program pages at https://www.mshomecorp.com/federal-programs/home/.
If you have any questions, please contact Jackie Cobbins at 601-718-4635 or Lillie Naylor at 601-718-4658 or via email at Jackie.cobbins@mshc.com or lillie.naylor@mshc.com.