Monarch Properties, Inc. – Monarch Properties, Inc. Online ...



|INCOME & RENT CALCULATION WORKSHEET |

|Property Name: | |Unit: | |HOH Last Name: | |

| |

|HUD Section 8 HUD Section 8/236 HUD/USDA(515/Section8) USDA-RD/RA BMIR/Market |

|Effective Date: Move-in Program Change A/R I/R/Unscheduled Assign RA |

|GROSS + ADJUSTED INCOME CALCULATION: |

|INCOME |Gross Income (Total from all attached income calculator tapes): |$ |

|ASSETS |Total Cash Value of all Assets: |*$ | |

| |Total Actual Income of Assets: |$ | |

| |Imputed Asset Income: Impute if total Cash Value Of Assets is at | | |

| |or above $5000 | | |

| | |*$ |X |

| |Total Gross Annual Income (GAI): |= |$ |

|DEDUCTIONS |Total of all Medical Expenses: |+ |$ | |

| |Total of all Handicap Care Expenses: |+ |$ | |

| |Less 3% of Gross Annual Income (above): |- |$ | |

|Total Allowable Deductions: |- |$ |

|ALLOWANCES |Dependents: Number of Dependents: | |X $480 |

| |Elderly Household: One $400 Allowance Per Household |- |$ |

|Adjusted Gross income AGI |= |$ |

|RENT CALCULATION: |

|HUD ONLY: 214 Prorated Rent for Ineligible NON-Citizen Yes No |

|HUD ONLY: Minimum Rent Hardship Exception Requested (attach TC-50) No Yes, Approved: Yes No |

|Total Tenant Payment (TTP)(AGI from above divided by 12 x 30%before utility allowance is deducted) | |$ |

|Less Utility Allowance: (If applicable) |- |$ |

|Tenant Rent: (TR) (Net Rent) |= |$ |

|Assistance Payment: (AP) |+ |$ |

|Bedroom size: ________ Contract/Basic/Market Rent: (TR + AP) |= |$ |

|PHA SECTION 8 VOUCHER HOLDERS: If applicable |

|Less Utility Allowance (If applicable) |- |$ |

|Tenant Rent: (TR) (Net Rent) |+ |$ |

|Assistance Payment: (AP) |+ |$ |

|Bedroom size: ________ Contract/Basic/Market Rent: (TR + AP) |= |$ |

|Contract Effective Date: | |

|INCOME LIMITS: Complete as applicable to the property based on the number of household members (include unborn children) |

|HUD |HUD 30% Ex Low Limit: (Applies at M/I only) |$ |

| |HUD Income Limit: (VL or L) |$ |

|USDA-RD |USDA-RD Income Limit: (515& 515/S8) VL, Low or Moderate |$ |

|HOUSING TAX CREDIT |Risk Share HOME Special Needs Families with Children |

|(From Rental Amounts and | |

|Income Ranges chart) | |

| |HTC Income Limit: ________________%HTC |$ |

| |HTC 140% Limit: (Applies after M/I only) |$ |

| |HTC Maximum Gross Rent: (From Rent Schedule) |$ |

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