Definitions
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(1)
The term “applicant” means a private nonprofit organization, cooperative association, or a public agency (including an agency or instrumentality thereof) in cooperation with a private nonprofit organization.
(2)
The term “displaced homemaker” has the same meaning as in section 12704 of this title.
(3) The term “eligible family” means a family or individual who—
(A)
has an income that does not exceed 80 percent of the median income for the area, as determined by the Secretary with adjustments for smaller and larger families; and
(B)
is a first-time homebuyer.