City of Oakland California

See HUD's Glossary of Terms for definitions of commonly-used housing terms.

First Time Homebuyer

Defined as someone who has not owned their principal residence during the previous three years, or they qualify under one of the following exceptions:

1. Individuals who worked primarily in the home, owned a principal residence with a previous spouse, and are currently unemployed  or underemployed;
2. Single parents who owned a principal residence with a previous spouse; and
3. Homebuyers who own or owned a mobile home or trailer, or house which requires repairs which exceed the cost of constructing a new home.

Income Limits Definitions
All Housing and Community Development programs use the same median income, but use different definitions for what is considered Moderate, Low, Very Low, and Extremely Low incomes.