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Frequently
asked questions
Q. What
does "Qualified Income"
mean?
A. Qualified Income is a term used
for buyers whose annual gross household
income does not exceed a certain
limit in order to participate in
the opportunity to purchase a home.
For Monarch Mills a potential purchaser's
annual gross household income cannot
exceed $56,184 for one person, $64,227
for two people, and $72,270 for
three people.
Q. What is a deed restriction?
A. A deed restriction is a legal
provision that places certain limitations
on the property you are acquiring.
In the case of Monarch Mills, there
will be a 20 year deed restriction
on 56 of the residences that limit
future increase in sale price of
the unit.
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