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A rental application is what you submit to be considered as a tenant. A lease agreement is the binding contract you sign once youre approved.
How do I apply for affordable housing in NYC?
Visit the NYC Housing Connect website to view and apply to housing lotteries. Call 311 or 212-NEW-YORK (212-639-9675) for help. You can also can get information about NYC Housing Development Corporation-financed developments that are accepting applications for apartments.
How do you get selected for the NYC housing lottery?
To qualify, your household must meet the household income and size requirements for a unit in the affordable development. Complete your profile. Remember to update your profile each time your income or household information changes. Apply to lotteries. Selection. Sign a lease or complete a purchase.
What credit score do you need for the NYC housing lottery?
Credit Criteria for General Applicants. You may not be rejected solely because of your credit score, your score may only be used as an indicator of financial stability. You may be accepted with a FICO credit score of 580 without further review of financial stability.
How hard is it to win the housing lottery in NYC?
The New York City affordable-housing lottery receives 3.5 million applications each year. These are 6 of the people who won. For some New Yorkers, winning the NYC housing lottery is the only way they can afford to stay in the city. But competition is tough: There are about 3.5 million applications each year.
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A co-applicant shares financial and legal responsibility for the lease or loan. They are equally liable for rent or mortgage payments, and their financial information is reviewed during the application process. A guarantor, on the other hand, agrees to pay if the primary applicant cannot.
How long does it take to get approved for NYC housing lottery?
Register and apply online or mail your application in. It may take 2 to 12 months for applications to be processed. If selected, submit eligibility documents Rent or buy if you are eligible. If rejected, challenge via appeal or apply to others.
Related links
Part I Section 42.--Low-Income Housing Credit (Also
Section 42(g)(2)(A) provides that for purposes of 42(g)(1), a residential unit is rent-restricted if the gross rent with respect to the unit does not exceed
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