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Susan, Almy, NH Legislature Shawn Bard, Ledyard National Bank Sarah Currier, Dartmouth-Hitchcock Medical Center Don Derrick, UV Habitat for Humanity Dennis.

Published byChristiana Aleesha Gaines Modified over 8 years ago

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Presentation on theme: "Susan, Almy, NH Legislature Shawn Bard, Ledyard National Bank Sarah Currier, Dartmouth-Hitchcock Medical Center Don Derrick, UV Habitat for Humanity Dennis."— Presentation transcript:

1 Susan, Almy, NH Legislature Shawn Bard, Ledyard National Bank Sarah Currier, Dartmouth-Hitchcock Medical Center Don Derrick, UV Habitat for Humanity Dennis Driscoll, Lake Sunapee Bank Anne Duncan Cooley, UV Housing Coalition Jonathan Edwards, UV Lake Sunapee Regional Planning Commission Chris Gilman, Service Credit Union Sam Greene, Real Property Appraiser Lynne LaBombard, Housing Solutions Real Estate Terry Martin, Mascoma Savings Bank Loralee Morrow, Two Rivers Ottauquechee Regional Planning Commission Douwe Wieberdink, Dartmouth College Who Are We …

2 Available Rental Units in ‘inner’ Upper Valley 10,000 Rental Units in the Upper Valley Rental Data Compiled by the Upper Valley Housing Coalition

3 “Housing availability and affordability for all residents are critical components of the overall quality of life and economic stability for communities in the Upper Valley.” As the Upper Valley Lake Sunapee Regional Planning Commission reported in their recent housing needs analysis;

4 1 st QTR2 nd QTR3 RD QTR4 TH QTR Studio – 1 Bedroom units 2014 2015 952 916 884 954 924859 2 Bedroom units 2014 2015 1360 1295 1283 1315 12711273 3 Bedroom units 2014 2015 1775 1785 1857 2058 16931488 4+ Bedroom units 2014 2015 2255 2926 2020 2426 20522005 Average Rental Rates in ‘inner’ Upper Valley 10,000 Rental Units in the Upper Valley (Rental Data Compiled by the Upper Valley Housing Coalition)

5 1 st QTR2 nd QTR3 RD QTR4 TH QTRUVHC Residential Rental Cost Average UV NHHFA Residential Rental Cost Survey NH Studio – 1 BR 2014 2015 952 916 884 954 924859905 ( 5%) 935 (5%) 862 892 2 BR units 2014 2015 1360 1295 1283 1315 127112731297 (15%) 1305 (13%) 1108 1157 3 BR units 2014 2015 1775 1785 1857 2058 169314881703 (23%) 1921 (32%) 1307 1310 4+ BR units 2014 2015 2255 2926 2020 2426 205220052083 (23%) 2676 (41%) 1600 1587

6 PROFILE OF A YOUNG PROFESSIONAL undergraduate or graduate school school loan averages $80,000 - 90,000 upwards to $250,000 leaned to live lean in college have little or no credit card debt may have a car loan payment average annual income of $50,000 $4166.67 monthly 25% for housing = $1041.66 30% for housing = $1250.00 Total Debt Rule is 43% = $1791.66

7 FICO of >740 30% of GMI = $1250/mo Minus: $150 for school loan, $300 for car loan, $200 for property tax, $100 for insurances totals $750/mo leaving $500/mo to carry a +/- $100,000 loan 43% of GMI = $1792 Minus $750/mo Leaves $1042/mo to carry a +/- $215,000 loan

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