601 West 29th Street Apartments (handicap, lowest, workers)
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Yes you need last year’s income. They go by last year’s tax return and most recent pay stubs
So what if your income is different than last years income ?
For example last year 36k, this year pay stubs would give 52k.
And both incomes fall between the acceptable AMI for 40% and 60%.
Which one would they choose ? And could you be rejected?
Location: Read the Marketing Handbook, and Income a Guide.
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Quote:
Originally Posted by Yah22
So what if your income is different than last years income ?
For example last year 36k, this year pay stubs would give 52k.
And both incomes fall between the acceptable AMI for 40% and 60%.
Which one would they choose ? And could you be rejected?
Have you been asked to submit additional income documents yet? It’s at the time when you submit additional documents that matters if they are processed pretty quickly and a lease offer is made quickly. Delays can occur. If the delays are long enough new income documents will be needed. If this goes on for many months, the $36K becomes less relevant and the 52K more so. Typically they want to look at 6 months past income which right now would only by 2023.
If your paperwork with additional documents is reviewed you can be rejected if they conclude you don’t qualify on income. This conclusion can be appealed but the decision has to be made before it can be appealed.
Yes you need last year’s income. They go by last year’s tax return and most recent pay stubs
U misunderstood my writing.
I know they ask to see last year's taxes ( I had been doing this decades) ,BUT they do not go by last year's taxes as requirement income needed to qualify.
They go by how much you make present time and projected 12 months.
I thought must have current income, I never knew they can go by last year's income if present time no income .
Also- thought they cannot go by last year's taxes/income for a person to be qualify/eligible if, current income is NOT enough etc
So what if your income is different than last years income ?
For example last year 36k, this year pay stubs would give 52k.
And both incomes fall between the acceptable AMI for 40% and 60%.
Which one would they choose ? And could you be rejected?
They go by current income to meet the income requirement. They ask for last year's taxes to see BUT not to meet for qualification .
To see if you meet income requirement ,they ONLY look at current income - projected 12 months.
I had been doing this for many decades, so I know .
You can also read the HPD handbook (all the rules are there ) .
Does anyone please have phone contact and email for the marketing agent etc for this property? really appreciate it so much and wish everyone best of luck.
Want to contact them to see if any unit left for studio 1 person 40% AMI
Does anyone please have phone contact and email for the marketing agent etc for this property? really appreciate it so much and wish everyone best of luck.
Want to contact them to see if any unit left for studio 1 person 40% AMI
Someone said they have studios and 1 beds for 40% and 60%.
Thank you so mucho for the information, I had the same question due to my last taxes are different from my current payment. I love that most of you guys still here helping us during the process.
Thank you for your reply.
Do u know if there is studio left for AMI 40% (1 person) ??
Rare to get them, but still giving to LOW AMIs? WOW !
Looking at the building in pictures , doesn't look like they have balcony for any unit . Lol
Balconies are on 3 and another floor. Yes they definitely have it. Doesn’t have to be shown in pictures to know they are there and people are going on their deck
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