FAQs

This web site has no mailing address or phone number on purpose. We will answer questions and process applications during the open house, every Thursdays, October 3rd to October 31st, from 6 PM to 8 PM. With few units left the applications will be accepted until all apartments are sold. First come first served basis.

No payment should be given to anyone in connection with the preparation or filing of applications. No broker or application fees may be charged. If your application is selected for further processing, a non­refundable credit check fee may be collected by the management company at that time. The fee for households with 1 or 2 adult household members is $50. The fee for households with 3 or more adult household members is $75.

Please review the chart in the project advertisement which breaks down the mandatory income levels for the HPD housing program of the project you are applying to, based on household size. List all current income sources for all household members on the application. In general, gross income is calculated for most applicants, except that net income is analyzed for self-employed applicants.

In addition to the income requirements, other eligibility factors will be applied. Eligibility factors may include, but are not limited to:

1. Property Ownership -No member of the applicant household may currently own any residential property, including shares in a co-op.
2. Asset Limits - There is a limit to the amount of total household assets allowed (excluding specifically designated retirement and college savings accounts). For a one-bedroom unit the asset limit is $230,763.10. For a two-bedroom unit the asset limit is $237,603.60.
3. Credit history - Marketing agents and lenders evaluate credit history to determine if you may qualify for a private mortgage and, if so, what the terms of the mortgage may be.

Any applicant ultimately approved for this development must maintain the new home as their sole primary residence. If approved for an affordable housing unit, the applicant must surrender any unit where applicant is then currently residing. Each member of the applicant's household who leases rental residential real property must terminate the lease for and surrender possession of such rental property on or before the purchase date for a homeownership affordable unit. For a homeownership affordable unit, the applicant must agree to continuously occupy the affordable housing unit as his or her sole primary residence, residing there no less than 270 days per year, with the exception of days spent on active military duty or subleasing {where permitted by the project's regulatory documents).