Default NYC Affordable Housing Lottery: VIA West 57 (sublet, tax)
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I'm all set and ready to go with documents! The paperwork didn't ask for an employment verification form, but it appears that they are asking for that after the fact. What is it that they are looking for? I can have my employer type one up just so I can be on top of it.
I'm all set and ready to go with documents! The paperwork didn't ask for an employment verification form, but it appears that they are asking for that after the fact. What is it that they are looking for? I can have my employer type one up just so I can be on top of it.
They more than likely will not accept it from you - they prefer to reach out to your employer directly. Besides, I would only give what is asked - don't volunteer any additional information.
They more than likely will not accept it from you - they prefer to reach out to your employer directly. Besides, I would only give what is asked - don't volunteer any additional information.
Just proceed anyway. If your monthly debt to income ratio is more than 50%, (that's factoring in the new rent, not what you're paying now), you will be rejected.
So that will be 1448 (studio) +750 or 2198 in monthly debt. Calculate what you make a month, and if your debt load is less than or equal to 50%, you're out.
$60,120 (The highest of 90% AMI) divided by 12 (or monthly income) = $5,010 (monthly)
Your debt to income ratio is: 2198/5010 = 43%. Your application, based on the criteria you have provided will not be rejected if you make the highest of 90% AMI and you have no other debt except the student loans you've mentioned.
To answer your other question, they take your IRS statements, paystubs and your bank statements, and compare them. The highest of the three will be your income. The catch is that if your earned income does not match your IRS statements, you will be rejected. All of your income should be reported. If there is one digit that does not match from your W2's and your earned income, you will be rejected.
Hi all, thanks for the great information!
Interview set up for 1/31, log# 5XX. Question about this reply: is this for gross or take home pay? My gross is 59708/year...but after taxes and pension contributions (city worker here) my take home pay is a little under 3,000 a month.
I'm also confused about the debt:income ratio...is it annual income over all debt owed or monthly income over monthly payments on debt? I'm worried that with my student loans I won't qualify, however my monthly payments are relatively manageable.
Interview set up for 1/31, log# 5XX. Question about this reply: is this for gross or take home pay? My gross is 59708/year...but after taxes and pension contributions (city worker here) my take home pay is a little under 3,000 a month.
I'm also confused about the debt:income ratio...is it annual income over all debt owed or monthly income over monthly payments on debt? I'm worried that with my student loans I won't qualify, however my monthly payments are relatively manageable.
Thanks!
Congrats on your interview!
1. They calculate your gross pay.
2. If your overall yearly debt to income ratio is 60/100, you're out.
3. If your overall monthly debt to income ratio is 50/100, you may be out. (They will also factor your new rent to your current monthly debt).
4. Debt is whatever is on your credit report, including student loans.
2. If your overall yearly debt to income ratio is 60/100, you're out.
3. If your overall monthly debt to income ratio is 50/100, you may be out. (They will also factor your new rent to your current monthly debt).
4. Debt is whatever is on your credit report, including student loans.
Good luck!
Hi, do you know where is the interview held? Manhattan or Bronx? I have 5xxx and wanna be ready.. boss may not allow me to take leave without early notification
Hi, do you know where is the interview held? Manhattan or Bronx? I have 5xxx and wanna be ready.. boss may not allow me to take leave without early notification
lol I'm not an authority here, so don't know any management related details. I'm just going by my own personal experience - I've been through a good three lotteries.
Hi, do you know where is the interview held? Manhattan or Bronx? I have 5xxx and wanna be ready.. boss may not allow me to take leave without early notification
It will be somewhere in Queens for the VIA lottery.
It will be somewhere in Queens for the VIA lottery.
Hear anything back after your interview yet?
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