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Old 09-30-2019, 09:26 PM
 
4 posts, read 410 times
Reputation: 10

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Hi,

I just recently received my application for a Mitchell lama apartment in Brooklyn. I was curious regarding how they determine income since they ask for your current pay stubs, W2 forms and job verification letter. Are they mainly going by 2018 income. My 2018 income is within the income bracket but I just recently got a job in the beginning of the year that will exceed the income limit. Will they rely more on my current income or my previous 2018 income. The woman at the management wasnít too sure of it would be an issue but she encouraged me to fill out the application. Any thoughts?
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Old 10-01-2019, 01:56 AM
 
864 posts, read 462,105 times
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They go by your income for the current running (so last yesr you paid taxes) income when you’re called. If you make over the limit and up to a certain amount they place a surcharge on your monthly charges.
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Old 10-01-2019, 07:09 AM
 
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I don’t mind them charging a surcharge fee but my question is for new applicants. Would they automatically reject your application if your current earnings exceed the income limit? I always thought the surcharge would be added if you are current resident and your income changes while you current resident.
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Old 10-01-2019, 10:33 AM
 
Location: Eric Forman's basement
2,085 posts, read 2,253,887 times
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Quote:
Originally Posted by SalJay View Post
I donít mind them charging a surcharge fee but my question is for new applicants. Would they automatically reject your application if your current earnings exceed the income limit? I always thought the surcharge would be added if you are current resident and your income changes while you current resident.
That's my question too. On the Penn South PDF, there is mention of the surcharge, but on the Cadman Towers one, there isn't. Penn South isn't technically Mitchell-Lama, so there could be differences. If it applied to Cadman, why wouldn't it say that?
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Old 10-01-2019, 10:51 AM
 
864 posts, read 462,105 times
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The information I provided applies to new applicants too.

You don't get outright rejected. You are let in with a surcharge. It applies to all MLs, but remember that Penn isn't an ML. It's similar, but not ML.
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Old Today, 09:10 AM
 
4 posts, read 410 times
Reputation: 10
I spoke to a representative from HPD regarding income determination. Most management companies are not required to ask new applicants for pay stubs. It is only required if the new applicant doesn't have the required tax documentation such as your W2 form. In addition, they will not charge you a surcharge until the following year if the tenant exceeds the limit. Also if you are living with a 2nd wage earner, HPD deducts up to $20,000 of the 2nd wage earner's income.
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Old Today, 09:40 AM
 
864 posts, read 462,105 times
Reputation: 975
Yup.
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