The Owner-Builder must:

1. (1) own or be purchasing a piece of real property through a warranty deed or Contract for Deed;
2. (2) not have an annual household income that exceeds 60 percent of the greater of the state or local area median family income as determined by HUD's income table;
3. (3) demonstrate the willingness and ability to repay the loan;
4. (4) execute a Self-Help Agreement committing to provide through personal labor at least 65 percent of the labor necessary to build or rehabilitate the proposed housing working through a state-certified NOHP; or provide an amount of labor equivalent to 65 percent in connection with building or rehabilitating housing for others through a state certified NOHP; provide through the noncontract labor of friends, family, or volunteers and through personal labor at least 65 percent of the labor necessary to build or rehabilitate the proposed housing by working through a state certified NOHP or if due to a documented disability or other limiting circumstances the Owner-Builder cannot provide the amount of personal labor otherwise required, provide through the noncontract labor of friends, family or volunteers at least 65 percent of the labor necessary to build or rehabilitate the proposed housing by working through a state certified NOHP;
5. (5) not have cash assets in excess of $25,000 (excluding retirement and/or 401K accounts);
6. (6) successfully complete an Owner-Builder homeownership education class prior to loan funding;
7. (7) be given priority for loans if the Owner-Builder has an income of less than $17,500 annually; and
8. (8) not have any outstanding judgments and/or liens on the property.

Source Note:The provisions of this §24.10 adopted to be effective November 1, 2012, 37 TexReg 8496.