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I've always wondered the same. It's all the same program via HUD I assume that it should be ok. The way the list is going it might be a few years. I'll ask around and see if I can get some info on this.
Just wanted to let you know that I'm going through the process of accepting an apartment. It's a long time coming but it's finally here!!! Once you are called it really is straight forward! You go see the apartment you either take it or you pass I believe you get two chances to pass up an apartment. I saw the apartment before it was worked on it was just OLD the person who lived there must of lived there over 30 years. You can get discouraged when you see the condition! When I was called in I had most of my paper work ready to go needed a few minor things like a letter from my daughter's school. The home visit is a joke. They came in took a picture of everyone moving with me and a picture of the Rooms, bathroom, kitchen and living room. They were in and out in less then 5 mins. Once they have received the credit report and you have submitted all your paper work. You need to submit payments in the form of money orders or cashier's check. The payments are to be made in three separate amounts.
Thank you everyone of answering all the questions I've asked and building this "Waiting" Community with me
CONGRATULATIONS!!!
Maybe you can help us by explaining the three different move-in payment amounts. What are these three separate payments for exactly? (first months maintenenace fee...) And How is the equity payment determined? Do you have to pay the entire Equity before move in , or do they allow an installment payment plan?
You need to have payment in full before your application is sent in to HUD. So the process goes as follows:
1. You get called you see the apartment if you want it you pay for the credit check/Home check. Each person over the age of 18 needs one. My was $247.45
2. Once the credit report comes back then you need to provide the payment for the apartment. In three separate amounts in either a Bank Check or Money Order. a.) Amount of the apartment (depends on the size) $10,500 b.) equity $1800 and c.) first months rent.
3. The supporting documents and the payment are sent to HUD it takes 4 to 6 weeks for a response.
There no installment payment plan, You need to have all the money available.
You need to have payment in full before your application is sent in to HUD. So the process goes as follows:
1. You get called you see the apartment if you want it you pay for the credit check/Home check. Each person over the age of 18 needs one. My was $247.45
2. Once the credit report comes back then you need to provide the payment for the apartment. In three separate amounts in either a Bank Check or Money Order. a.) Amount of the apartment (depends on the size) $10,500 b.) equity $1800 and c.) first months rent.
3. The supporting documents and the payment are sent to HUD it takes 4 to 6 weeks for a response.
There no installment payment plan, You need to have all the money available.
Thanks for the information Wanting_to_move. Will they update the apartment for you before you move in EX: Kitchen, appliances, flooring?
I've posted 4 pictures of the apartment when I first saw it. As you can see the kitchen is horrible!
They have installed new floors through out. They are Armstrong grey/cream floors and the entire apartment is painted White, which is great it serves as a nice clean slate.
Kitchen - I asked them to remove all the kitchen cabinets they just old especially the metal counter tops. The tenet before me was there at least 30 years and no renovations were done since.
Bathroom - The bathroom is just ugly - to be honest I haven't even thought about what the heck to do!
I will post some pictures of the apartment in a bit so that you guys can get an idea.
I've posted 4 pictures of the apartment when I first saw it. As you can see the kitchen is horrible!
They have installed new floors through out. They are Armstrong grey/cream floors and the entire apartment is painted White, which is great it serves as a nice clean slate.
Kitchen - I asked them to remove all the kitchen cabinets they just old especially the metal counter tops. The tenet before me was there at least 30 years and no renovations were done since.
Bathroom - The bathroom is just ugly - to be honest I haven't even thought about what the heck to do!
I will post some pictures of the apartment in a bit so that you guys can get an idea.
Thanks so very much for all information you are providing us. I am #110 on 1-bedroom list and they told me that I have about 65 people ahead of me. Could you explain the difference between Equity and monthly maintenance fees? (I thought that equity is the purchase price of the apartment.) How many bedrooms do you have. Thanks for and short reply you may have.
Equity and Monthly Maintenance Fee are two separate thing. Equity is the difference between the value and the cost of the liabilities. Monthly Maintenance are those monies needed to run the property. Perhaps someone can jump in a give you a better explanation. Good luck on your wait
Just wanted to let you guys know that there are storage units available. There is a third party that handles the leasing of the Storage Units. They are 7 ft Tall and range from 4x4 for $60 to 4x10 $ 90 a month. There of course is a waiting list! What else is new!
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