Qualification Criteria Guidelines/Tax Credit
The Residences at Linwood Apartments are operating under the Section 42 Tax Credit Affordable Housing program designed to assist "low," "moderate" and "middle" income families.
Maximum Annual Family Income Allowances
All Income Must Be Verifiable
• Income: All income to the household, including assets, must be included.
• Income Minimum: Two and one-half required "tenant paid" monthly rent. Section 8 voucher holders only, no minimum income.
• Credit: 70% of credit must be rated positively. Flexibility regarding medical and discharged bankruptcy. Good credit since bankruptcy. No credit is considered good credit.
• Rental History: Possible disqualification if there is a prior eviction or foreclosure. Rental History is not required. Four years will be verified when possible and it must be positive.
Re-Application
• Policy: If an applicant is denied for any reason a 90-day wait period is required before reapplying to this property.
• Roommates: Each roommate must qualify individually.
• Occupancy Limit: 2 people per Studio, 3 people per 1-Bedroom, 5 people per 2-Bedroom.
• Security Deposit: $200.00
• Pet Policy: Pets allowed; 75 lbs or less at full maturity. $150 deposit required. Two pet maximum. Breed restrictions apply.
• Criminal History: Any applicant that has a criminal history or any applicant affiliated with criminal activity may be denied.