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When I signed like 15 pages of papers at my last interview they said those are all sent to HDC (and some other city agency as well). It's just to prove that you are vetted to qualify. At the end it is still up the developer if you qualify. I.E. No one asked about pets... The interview with the actual developers WILL. If you say you have 10 cats then you will get rejected. If it's obvious you can't swing the rent based on your debt to income you will be rejected.
quote:
Once I am approved from HDC I will be given an apt.
That is not the case. Once you get approved from HDC you then have to get approved by the actual developer. If they think you can't swing the rent or have people with better credit scores, more savings, etc, you will get rejected.
It's does't work that way. First, you get approved by development management, after that they send your file for approval by HDC. Everything is going according your log number first and then decent credit score.
We will have to agree to disagree on this. The actual developers have NO CLUE who any of the people are who have been approved yet. Our files will go to the developers soon and then things will be whittled down from there. We only passed the initial aspect of this process. Maybe other lotteries are different, not every development is the same and they don't all work the same way. Rehabbed tenements that in the affordable lottery program work the way you say, these brand new construction buildings do not. I could be totally wrong, but I don't think I am. It's why I am not confident at all about my shot at this point. I also don't want to be disappointed.
We will have to agree to disagree on this. The actual developers have NO CLUE who any of the people are who have been approved yet. Our files will go to the developers soon and then things will be whittled down from there. We only passed the initial aspect of this process. Maybe other lotteries are different, not every development is the same and they don't all work the same way. Rehabbed tenements that in the affordable lottery program work the way you say, these brand new construction buildings do not. I could be totally wrong, but I don't think I am. It's why I am not confident at all about my shot at this point. I also don't want to be disappointed.
The city oversees the developments and check everything in order to obay the law. That's why the city go after development and check everything .
Yippee...congrats! Did you need to provide anything else or just sign stuff? Have they already completed the employment & landlord verification and credit check or does HDC do that?
That's awesome!
Yes they did, they actually mailed the verification to my job directly and it was sent back to them
Once the file is sent to HDC they just again verify that you meet the income range etc. HDC does not care about your credit report, the developer does. But please note that the developer/management company wouldn't have sent your file to HDC to begin with if they expect/want you to be rejected... those not moving forward would receive a rejection letter and not get called in to sign any TIC forms (forms to be sent to the city for final approval)
Also, a unit is assigned because when they send your file to the city they have to select a unit beforehand. I am speaking from working in the industry and being someone who used to send low income apps to the city for approval as well as interview potential tenants etcs
Thank you for that information, brooklynresident5!!! Very good stuff to hear.
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lyla45
