Affordable housing typically means housing that is reasonably priced for individuals and families with low to moderate incomes. This kind of housing is essential to ensure that persons at various income levels have access to safe, stable, and decent living conditions without having to spend too much of their income on housing. Affordable housing programs have limits for household incomes and rent.
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Do I Qualify ?
Please see responses to below FAQs
Frequently Asked Questions
What Type of Affordable Housing does Mosaico Family Housing offer?
Mosaico Family Housing offers a variety of affordable housing options.
All apartments are governed by the Low Income Housing Tax Credit (LIHTC) program, and some units are also subject to additional affordable housing program requirements. All Units include a Housing Voucher from Tacoma Housing Authority, and all applicants must also meet THA criteria. Each program at Mosaico Family Housing has income limits based on household size, and applicants must meet all eligibility criteria.
Please note: All three and four bedroom homes require a minimum household size.
What is the maximum/minimum income?
Maximum Income
Total gross (before taxes) household income must be less than the below
|
50% |
60% |
1 Person |
$44,600 |
$53,520 |
2 Person |
$50,950 |
$61,140 |
3 Person |
$57,300 |
$68,760 |
4 Person |
$63,650 |
$76,380 |
5 Person |
$68,750 |
$82,500 |
What sources of income are considered?
All sources of income are considered for most affordable housing programs. This includes employment, Social Security and SSI, pensions, unemployment benefits, self-employment, income from retirement accounts and investments, periodic gifts from family members, child support, TANF, and income from assets.
What would prevent my household from qualifying?
- Household income exceeds the maximum allowable or is less than the minimum required.
- Number of persons in the household does not meet the occupancy guidelines for the apartment(s) available
- All student household that does not meet an exception
- For full list of reasons that a household may not qualify please see the Resident Selection Criteria for Mosaico 4% or Mosaico 9%.
How long of lease do I have to sign?
Initial leases are all 12 months but after that will roll over to a month to month lease or it may be renewed for a specific term.
How often will my rent change?
Tax Credit rent increases are annual, but they are limited by what the regulatory agencies allow. Income and rent tables are updated each year.
All households receiving a Housing Voucher may receive rent adjustments periodically with changes in their household income or size.
These responses are not exhaustive, other guidelines and qualifications may also apply. Please refer to the Resident Selection Criteria for more information