Under Step-by-Step Guidance for Option 2 – Path 2. Affordable Housing in Residential or Mixed-Use Projects

After "Step 3. Adjust Target Income for Each Dwelling Size" insert the following sentence:
Use Equation 2 and the appropriate bedroom (BR) factor(s) from the table below to calculate the adjusted target household income for each dwelling.

Equation 2. Adjusted target household income
Adjusted target income = Target income x BR factor

Under Step 4. Calculate Maximum Pricing, in the first bullet item beginning "For rental units..." delete "Equation 4" and replace with "Equation 3" and in the second bullet item beginning "For for-sale units..." delete "Equation 5" and replace with "Equation 4"

Under Step 4. Calculate Maximum Pricing, after the second bullet item beginning "For for-sale units..." insert the following language:

Equation 3. Maximum monthly rent
Maximum monthly rent = (Adjusted target income x 0.30) / 12

Equation 4. Maximum monthly principal, interest, taxes, and insurance
Maximum monthly PITI = (Adjusted target income x 0.28) / 12