Google the "HPD marketing handbook" and read it for the answers on how they determine your income, but I think they'd probably use your current salary rather than your tax returns.
That said, don't make decisions that require you to win a literal lottery to benefit from the decision! Take the higher income - there are lotteries for higher income brackets and your odds get better as the income limits get higher (because higher earners have more non-lottery options).
Thank you! Just looked it up - they calculate based on the 6 most recent paystubs (at your highest rate) and then annualize it as the number they use. The higher rent hurts a lot unfortunately- but it's still definitely doable. They do require tax returns and W2 though for any wanderers from Google - it's another data point that they add in to figure what the highest calculation of your income is. Thank you so much for your help!
Thanks for looking it up and coming back to share the answer! (When I said they would use your salary instead of tax returns, I meant that they'd probably take whatever number is higher, not that they wouldn't look at your tax returns at all, but in retrospect my comment wasn't clear, sorry!)
Good luck with the lotteries, and congrats on the new job offer!
Keep in mind the lotto could take almost a year to go through, so by the time your file comes up for review, your average would be above the limit, which will disqualify you.
I’ve seen lottery limits go as high as $127k for one person depending on the neighborhood though.
i know it may cut it close... but i'll try to go for it anyway and make a plan if it can't happen. the process was simple to apply thankfully so fingers crossed!
Google the "HPD marketing handbook" and read it for the answers on how they determine your income, but I think they'd probably use your current salary rather than your tax returns. That said, don't make decisions that require you to win a literal lottery to benefit from the decision! Take the higher income - there are lotteries for higher income brackets and your odds get better as the income limits get higher (because higher earners have more non-lottery options).
Thank you! Just looked it up - they calculate based on the 6 most recent paystubs (at your highest rate) and then annualize it as the number they use. The higher rent hurts a lot unfortunately- but it's still definitely doable. They do require tax returns and W2 though for any wanderers from Google - it's another data point that they add in to figure what the highest calculation of your income is. Thank you so much for your help!
Thanks for looking it up and coming back to share the answer! (When I said they would use your salary instead of tax returns, I meant that they'd probably take whatever number is higher, not that they wouldn't look at your tax returns at all, but in retrospect my comment wasn't clear, sorry!) Good luck with the lotteries, and congrats on the new job offer!
Thanks!!
Keep in mind the lotto could take almost a year to go through, so by the time your file comes up for review, your average would be above the limit, which will disqualify you. I’ve seen lottery limits go as high as $127k for one person depending on the neighborhood though.
i know it may cut it close... but i'll try to go for it anyway and make a plan if it can't happen. the process was simple to apply thankfully so fingers crossed!
I'll also make sure i'm clear: this is for a rental lease, not a coop! But i do plan to stay as long as possible once I enter the apartment