Rules adopted pursuant to § 6-34.2 shall establish the qualifications of an eligible borrower, and may consider, but not be limited to, the following:
(1) The proportion of income spent for shelter;
(2) The size of the family;
(3) The cost and condition of housing available to the total housing market; and
(4) The ability of the person to compete successfully in the normal housing market and to pay the amounts on which private enterprise is providing loans for safe, decent, and sanitary housing in the State.
(Sec. 31-2.2, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 6, Art. 34, § 6-34.3)