Income Qualifications

Define the necessary rate variable and determine the maximum percentage of income to be applied to rent.

Income Qualifications

1. Log in to the platform.
   
2. Scroll down to and click the Apps tab in the navigation menu, then click Income Calculator.
   
3. The Income Calculator Details page opens.
   
4. Scroll down to the Income Qualifications section.
   
5. Enter the appropriate values in the following field.
1. Income to Rent Variable: On an annual basis, how many times the rental price must a customer's gross salary be to qualify. This application calculates for an annual value rather than a monthly value. For best results, use a value to the nearest hundredth place or two places after the decimal. Example: 2.75. . 
6. Click the Save button once all values are selected.

Example Calculations

Income to Rent Variable

Income to Rent Variable = 3, Rental rate = $1,500 per month.

Twelve months X $1,500 rental rate = $18,000 annual rental rate.

Annual rental rate of $18,000 X 3 income to rent variable = $54,000 income required to qualify.

Users can not save individual floorplan changes or application changes until the error message is corrected and changed.

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