If you plan to live in an apartment with roommates, If roommates: divide the monthly rent by the number of people living Total persons living together: ________ together for your share of rent. My share of rent (FMR/total persons): ________ If you get rental assistance, you may pay a portion of If rental assistance: your income toward rent (30 – 35%). Ask your support Total monthly income above x .30 or .35 coordinator to help estimate what this amount will be. (depending on the program): ________ Estimating a mortgage is more complicated. You need If a mortgage: to know how much money you will borrow to buy your Use Virginia Housing Development Authority’s house, how many years you have to pay it back, and to determine your monthly the interest rate. mortgage payment. Question Show Me! Write or Draw
If you plan to live in an apartment with roommates, divide the monthly rent by the number of people living together for your share of rent. If you get rental assistance, you may pay a portion of your income toward rent (30 – 35%). Ask your support coordinator to help estimate what this amount will be. Estimating a mortgage is more complicated. You need to know how much money you will borrow to buy your house, how many years you have to pay it back, and the interest rate. If roommates: Total persons living together: ________ My share of rent (FMR/total persons): ________ If rental assistance: Total monthly income above x .30 or .35 (depending on the program): ________ If a mortgage: Use Virginia Housing Development Authority’s to determine your monthly mortgage payment. Question Show Me! Write or Draw
want%20your%20own%20place%20to%20live_handbook.docx