Household Composition
A pregnant mother with her 5-year-old son.
What is a three-person household?
Per HOTMA, whose income is excluded?
What is a foster/adult/child?
Per HOTMA, what is no longer considered an asset?
What is a 401k/retirement accounts?
Name this Rule: A household of only full-time students is ineligible unless they meet special exemptions.
What is the Full-Time Student Rule?
Who determines eligibility for the household, and how do they determine eligibility?
What is the on-site associate's by pre-screening the applicant?
A mother who is moving in with her son, whom she has less than 50% of the time.
What is a one-person household?
Per HOTMA, what child support income is counted towards the household income?
What is the actual amount received?
Per HOMTA, how many bank statements are needed for checking and savings accounts when assets exceed the asset threshold?
What is one?
Per HOTMA, name one type of financial aid that is excluded when determining income in excess of student costs.
What is Higher Education Act (HEA) assistance?
Who reviews the affordable compliance file submitted by the on-site associates?
Who is the RCM?
Grandmother with foster care orders for her three grandchildren.
What is a four-person household?
Semi-monthly pay should be multiplied by this.
What is 24?
What is the passbook savings rate for 2025?
What is .45%?
How many days does your RCM have to review a move-in file after it is posted to Affordable SharePoint?
What are two business days?
A grandfather who is moving in with his two grandchildren, whose mother is away on military duty.
What is a four-person household?
When is net income used instead of gross income?
What is verifying Self-Employment?
What does LIHTC stand for?
What is the Low Income Housing Tax Credit
A household of only full-time students who meet none of the LIHTC student exemptions.
What is ineligible?
If a household becomes over-income, this LIHTC rule mandates renting the next same-sized or smaller unit to a qualified applicant.
What is the Next Available Unit Rule or NAUR?
How many Regional Compliance Managers does the Affordable Compliance Department have?
What is six?