Income and Asset Documentation

Information by State  Print version   Calculating Assistance Amounts   TBRA Payments   Tenant Whose Income Increases   Rent Based on Ability to Pay   Anti Displacement Activities   Income and Asset Documentation Calculating Income Eligibility Contents   General Requirements   Three Definitions of Income   Calculating Adjusted Income   Calculating Assistance Amounts   Calculator

The HOME regulations require that PJs maintain adequate documentation of the income determinations they make for applicants to HOME programs. Such documentation must be sufficient for HUD to monitor program compliance.

This can be easily accomplished when PJs examine and collect source documentation that provides evidence of the applicant's annual income, such as: wage statements, interest statements, and unemployment compensation statements.

Under certain circumstances, PJs may also use alternative methods to verify the income of applicants to HOME programs. However, there is still the requirement that documentation be sufficient for HUD to monitor program compliance under these circumstances. For this reason, it is important that PJs fully understand these methods and the documentation required under each.

Click here to see specific information on the methods PJs may use to verify income.
There are many HUD-approved forms available on the HOME Front's Sample Forms module that can be used to help meet HUD's documentation requirements.
You can use HUD's Income & Allowances Calculator to not only calculate the income eligibility of program applicants, but also to produce useful summaries for inclusion in the applicant's files -- along with the other required documentation.