Affordable Housing Policies and Requirements

This is an equal housing opportunity. Federal law prohibits discrimination against any person making application to buy or rent a home with regard to race, color, national origin, religion, sex, familial status, and disability. State law prohibits discrimination on the basis of race, creed, color, national origin, ancestry, nationality, marital or domestic partnership or civil union status, sex, gender identity or expression, disability, affectional or sexual orientation, family status or source of lawful income or source of lawful rent payment. Piazza & Associates, Inc. complies with all provisions of the New Jersey Law Against Discrimination (“LAD”) N.J.S.A. 10:5-1 to -49 as applicable to any real property or for any program related to real property Piazza & Associates, Inc. administers in New Jersey. Any person who believes a violation of the LAD has occurred may contact the New Jersey Division on Civil Rights at 866-405-3050 or 973-648-2700 or online at www.NJCivilRights.gov.
It is unlawful to discriminate against any person making application to rent a home with regard to age, race, religion, national origin, sex, handicapped or familial status.
This affordable housing unit be the intended primary residence of the applicant. All household members who intend to reside at the affordable homes must be listed in the Preliminary Application. If changes in income or household composition occur during the application process, or if there is a change of address, the applicant is required to notify Piazza & Associates, Inc. in writing, immediately. You must maintain a list of properties to which you have applied. Failure to have this information may result in not being able to update all of your applications on file.
Applications must be truthful, complete and accurate. Any false statement makes the application null and void, and subjects the applicant to penalties imposed by law. After the submission of a Final Application, any change to the applicant’s sources of income or household size may void the application and require the applicant to reapply to the program.
Annual Income includes, but is not limited to, salary or wages, alimony, child support, social security benefits, unemployment benefits, pensions, business income, and actual or imputed earnings from assets (which include bank accounts, certificates of deposit, stocks, bonds, or other securities), and real estate.
If you own a home in which you are currently residing and which you intend to sell prior to living in an affordable home, compute your income from this asset by taking the market value of your home, subtracting the current principal of your mortgage, and multiplying the balance by the HUD Passbook Savings Rate. Also, you may not be eligible for this affordable housing program if the current value of your home is at or above the “Asset Limit” and you do not have a mortgage. Income from other real estate holdings is determined by the actual income you receive from the asset (less expenses, but not less your mortgage payment).
Specific documentation to verify income and assets, as well as a letter of prequalification for mortgage financing from a licensed lending institution will be required at a later date.
Please understand that the prices are established and governed by State regulations. Although consideration is made for low- and moderate- categories of household incomes, sale prices do not fluctuate on the basis of each individual applicant’s income. Therefore, we can not and do not guarantee that any home will be affordable to you or your household.
We do not provide financing to purchase affordable homes. Financing for an affordable home is subject to terms and conditions set forth by the State of New Jersey. Monthly payments, including principal, interest, property taxes, insurance and condominium fees, may not exceed 33% of your income without the applicant receiving home- buyer counseling by an agency approved by HUD or the N. J. Department of Banking and Insurance, which details the advisability of such a mortgage loan. For a list of approved counseling agencies, contact HUD, the N. J. Department of Banking and Insurance or our website: HousingQuest.com.
For Rentals: Once leased, rents will NOT be adjusted to accommodate fluctuations in household income. Rental rate increases may occur annually, but are subject to limitations.
If you need assistance completing this application, please contact us at 609-786-1100.

Affordable Housing Policies and Requirements

It is unlawful to discriminate against any person making application to rent a home with regard to age, race, religion, national origin, sex, handicapped or familial status.

Specific documentation to verify income and assets, as well as a letter of prequalification for mortgage financing from a licensed lending institution will be required at a later date.

For Rentals: Once leased, rents will NOT be adjusted to accommodate fluctuations in household income. Rental rate increases may occur annually, but are subject to limitations.

If you need assistance completing this application, please contact us at 609-786-1100.