Market Conditions in Harlem>Question Details

chrismmp, Home Buyer in Brooklyn, NY

what are HDFC income restrictions (gross income or net?) what documents do you need?

Asked by chrismmp, Brooklyn, NY Mon May 27, 2013

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Gross earnings
Tax returns
0 votes Thank Flag Link Mon May 27, 2013
HDFC coops are for "low income" households. Each HDFC coop can determine the definition of "low income" The standard formula most common is based on 120% -165% of area median income determined by HUD.

The documents required is a recent federal tax return. Most will accept adjusted gross income.

All HDFC coops must remain "affordable"

Mitchell Hall
Associate Broker
TheCorcoran Group
Web Reference:
0 votes Thank Flag Link Mon May 27, 2013
Mitchell Hall, Real Estate Pro in New York, NY
Hi Cris,

Each building has different income restrictions and they are usually presented dependent upon how many income earners are residing in the unit.
Please feel free to call me if you need any further information regarding Upper West Side purchases.

Thank you,
0 votes Thank Flag Link Mon May 27, 2013
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