FINANCIAL REQUIREMENTS FOR PROPERTY OWNERSHIP
LAGUNA WOODS VILLAGE, LAGUNA WOODS

CO-OPERATIVE:

1. Minimum Annual Income                                                            $36,000

2. Minimum Asset Requirement; Purchase price plus                    $100,000

(Exception: If a loan of at least 50% of the purchase price of a Co-operative is obtained, the asset requirement is waived)

CONDOMINIUM:

1. Minimum Annual Income                                                              $42,000

2. Minimum Asset Requirement. Purchase price plus                      $125,000

TOWERS:

1. Minimum Annual Income

Monthly assessment of the manor plus $1,210. per month, for one occupant. Assessment increases for additional occupants.

2. Minimum Asset Requirement ~ None

ACCEPTABLE ASSETS ARE:

• Equity in improved residential or income producing property
• Savings accounts in banks and credit unions
• Cash surrender value of life insurance IRA, SEP, 401(k) and Kepgh accounts]
• US, State or Municipal government bonds -Valued at current market prices
• American traded investments, (NYSE, AMEX, OTC, NASDAQ, ETC) valued at current market prices
• Mortgages, promissory notes, provided interest is reported on buyer's tax return
   

GUARANTOR

The mutual will permit the buyer who does not meet the financial requirements to have a guarantor-who must have annual income of at least $72,000 and acceptable assets of at least $200,000 plus the purchase price of the manor.

Anyone who meets the above requirements can buy in Laguna Woods Village. To live in Laguna Woods Village, one resident must be 55 years of age; and second resident  can be 45, except a spouse can be any age.