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

This question was asked from http://www.trulia.com/property/3077337059-29-W-119th-St-47-N…

Help the community by answering this question:

Answers

3
BEST ANSWER
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
347-921-4255
Mhall@corcoran.com
Web Reference: http://nycblogestate.com
0 votes Thank Flag Link Mon May 27, 2013
Mitchell Hall, Real Estate Pro in New York, NY
MVP'08
Contact
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,
Maria
917-881-2184
0 votes Thank Flag Link Mon May 27, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer