LAC 16:II.703. Definitions

A. Notwithstanding the definitions set forth in LAC 16:I.301, the following terms, when used in this Chapter, are defined as follows. 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. Borrower―an individual or family applying to receive down payment assistance under the Turnkey Mortgage Origination Program. 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.