1. A. Notwithstanding the definitions set forth in LAC 16:I.301, the following terms, when used in this Chapter, are defined as follows.

   1. Annual Family Income―the gross annual income, from all sources and before taxes or withholding, of all members of a family living in a housing unit.
   2. Borrower―an individual or family applying to receive down payment assistance under the Turnkey Mortgage Origination Program.
   3. Housing Unit―living accommodations intended for occupancy by a single family, consisting of one to four units, and which will be owned by the occupant thereof.

Authority Note

AUTHORITY NOTE: Promulgated in accordance with R.S. 40:600.1 et seq.

Historical Note

HISTORICAL NOTE: Promulgated by the Department of Treasury, Louisiana Housing Corporation, LR 38:1996 (August 2012).