Application Requirements

All applications are carefully reviewed to ensure that applicants satisfy the following critera for approval. An initial $ 300 deposit in the form of money order is required; personal checks and cash are not accepted. The deposit is refunded if management does not approve the application, or if the application is canceled by the applicant prior to the final application approval.

Applicants must satisfy the following criteria for approval:

Employment/Income: The current employer's name, address, telephone number and fax number must be provided. If applicant has a prior employer during the past year, documentation of the termination is required. Applicant must also bring in the last 3 months worth of current pay stubs or a pay history from their employer for the last 3 months. If receiving Unemployment, last method of income and tax returns for the current year must be provided. Any other methods of income including but not limited to public assistance, child support, alimony, social security, SSI, SSDI, retirement pension, military/veteran benefits must be verified. Applicants must provide last year's Tax Returns.

Assets: Applicant must provide name, address, and account number of all financial institutions, including life insurance and 401K carriers. If the applicant has disposed of any assets in the prior two years, including the sale of a residence, documentation such as the House Appraisal and Settlement Statement must be provided.

Residence History: Positive landlord references and/or mortgage payment history for the previous five years is mandatory. Applicants must provide the landlord's name, address and telephone number. If the applicant does not have five years of rental history, two personal reference/recommendation letters for each person over the age of 18 in the household are required.

Student Verification: Enrollment will be verified for any applicant age 18 or over who is currently a student or has been within the calendar year. Full time students are not eligible to participate in the Low Income Housing Tax Credit Program if all occupants of a household are full time students or have been within the present year except in specific circumstances. Ask for details.

Established Credit: Any of the following in the past five years may result in denial of the application: history of delinquency, bankruptcy, unsatisfied judgments, collections or repossessions. If there is no credit history, letters of reference are required.

Criminal Background Check: Criminal history may result in denial of the application. At no time will convicted sexual offenders be approved.

If the application is denied, the applicant may appeal management's decision
by requesting a conference/review with the Massachusetts Housing Finance Agency

Income Requirements

To be eligible for the Affordable Housing Program, applicants must income qualify based on the current household occupancy. The applicant’s household annual gross income must not be greater than: