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That's another concern I have. My income is approx $38k annually. For a one bedroom monthly rent of $845 income range is $30-35 or monthly rent of $1,214 income range is 43-58. I'm afraid that I will be disqualify because I'm out of the range or how does this work? Thank you for your time.
You will be disqualified if you are even $1 over. You look to be a few thousand so you do NOT fit that income bracket.
However they may calculate it several ways, like averaging last 3 tax returns, or projected income.
But it looks like you now have two strikes against you, not the correct income and a change of family size.
They will calculate your income a couple of different ways and then take the highest one.
Alas, it does seem that at $38,000 you will be in between the two ranges.
You can calculate for yourself, roughly. Take your last six pay stubs, add them up, divide by six, and then multiply that amount by 26 if you get paid every two weeks or 52 if you get paid every week. Or 24 if you get paid twice a month. That's what they'll look at first. They will also look at your past two years' tax returns. But even if those are lower, that won't help you.
You might as well go on the interview if you don't mind making the effort.
Does your girlfriend work? If she has an income too, you'll really be over the limit. Would that push you into the upper bracket maybe?
They will calculate your income a couple of different ways and then take the highest one.
Alas, it does seem that at $38,000 you will be in between the two ranges.
You can calculate for yourself, roughly. Take your last six pay stubs, add them up, divide by six, and then multiply that amount by 26 if you get paid every two weeks or 52 if you get paid every week. Or 24 if you get paid twice a month. That's what they'll look at first. They will also look at your past two years' tax returns. But even if those are lower, that won't help you.
You might as well go on the interview if you don't mind making the effort.
Does your girlfriend work? If she has an income too, you'll really be over the limit. Would that push you into the upper bracket maybe?
Hi, Thank you for the reply. I get pay weekly $800 , $600 something after taxes. Yes, will go to the interview and see what happen. Yes, she does work, I think that adding her may not be a good idea. I did read that I can do add her after I move in to the apt, not right away of course.
If you go in as a single person, you will be eligible for a studio. You might also qualify for a one-bedroom, but I read that The Powers That Be prefer to give the one-bedrooms to two people, a couple or a single parent with a child. (The theory is to benefit as many people as possible with this housing.) Of course you might get lucky and be awarded a one-bedroom. That would still be tight with three people, but at least it's doable.
Another question: Do you get paid on a W-2 as an employee, or are you on a 1099, which would be freelance? If on a W-2 they use the gross amount, not the after-tax amount.
So if your gross W-2 pay is $800 a week, your annual pay would be $41,600. Based on that, it would seem you are between the two income ranges and, sadly, would not qualify for an apartment at this particular development. What is your girlfriend's pay? Added to yours, would it put you into the higher bracket?
That would be your only hope at this point. But please don't take my word for it. Go on the interview with all your documents ready and see what they say.
In the email they said to bring my 2015 W-2 and last 6 pay stub. In 2015 I earned $30k which means I qualified but this year I'm making $41,600. Hopefully they take into consideration my 2015 income.
I will still go to see what happen, the worst thing they can say is NO. :-)
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