If you have a limited income, you probably don't have a lot of money to spend on rent. That means that you need to be able to take advantage of low-income housing. Most low-income housing has guidelines as to who can and can't live there. That means that you are going to have to make sure that you fit in with their criteria and that you can provide the information that they require in order for the people who run the complex that you are interested in to make a decision as to whether or not you can live in that particular complex. So, what are some of the things you are going to have to provide?
Proof of Income
Proof of income includes things like your tax papers, pay stubs, benefits letters from the Social Security Administration, and legal paperwork concerning alimony and child support. How far back you will have to show your income depends on the low-income housing complex or landlord that you are working with, but it would be a good idea to be able to hand them proof of income for at least the past three months. If your income has gone down during the period that the housing facility wants, then you may have to provide information about why that happened as well. For example, if you switched jobs, were laid off, or had your hours cut, the place you are applying to live will want to know that. You may be asked to provide documentation from your employer explaining the cut in hours or job change.
Proof of Bills
As well as looking at what your income is, the people at the low-income housing complex are going to want to look at how much money you are spending, at least in a general sense. That means that they will want to look at things like utility bills, telephone bills, child support you may have to pay, and other similar things. They may not need to have the exact amounts, but at least a rough estimate of how much you spend each month on necessities is good. The apartment complex may provide some of the utilities for you.
If you have a limited income, you need to make sure that you have an apartment that you can afford. Moving into a low-income apartment complex will allow you to have a nice place to live in a price range you can afford.
Share19 October 2018
Once I paid of the mortgage on my house, I decided I wanted to buy an investment property. I had no idea that the buying process would be different, but it really was. There were so many things to consider that I hadn't thought about, and even the loan application process was different. It occurred to me that if I didn't know about it, others likely didn't either. I built this site to help others see what I went through buying my first investment home. I hope that it helps you to approach the process with more confidence and understanding.
