Boston Massachusetts Form Instructions 1125-E 2018-2025

Boston Massachusetts Form Instructions 1125-E: What You Should Know

If a tenant's income exceeds the maximum income level allowed under this section, the owner must charge the non-Federal offset of the excess (50 per month for housing credit purposes). The rental income limits of 26 percent and 60 percent of the FICA for the housing credit are the same regardless of whether the landlord is an employer of the non-Federal employee. If the rent is less than the housing credit limit, the non-Federal employer-sponsored housing credit must be applied to the rent. For more information regarding this regulation, read section 5. Federally insured mortgage loans are exempt from the housing credit provisions. If the property is a nonprofit organization, the organization must have a plan that provides for the rental and ownership of all of its housing units. The organization must have a reasonable process for housing residents and a policy to prevent abusive or deceptive practices. For more information on nonprofit organization housing management requirements, see guidance published by the Attorney General under the Fair Housing Act in Section 1604.02 of the  Form 8823—Federally Exempt If any housing unit is subject to a rent or rental increase at the initiation of a mortgage or similar loan and at the time of settlement of the mortgage or similar loan, the applicant must provide the mortgage broker with a statement that gives information regarding the increase and information regarding how the amount of the increase will be applied in connection with the mortgage or similar loan. For more information on rental housing, you can also visit HUD's online tool The Rent is Too High. If your rent exceeds the rent limit (as defined), the mortgage is eligible and the owner must include the non-residential housing credit as part of the mortgage. A mortgage broker should inform the owner to ensure that the non-residential housing credit is applied to the rent. If the rent exceeds the maximum rent (as defined), you need to give the seller the statement that the increase was subject to the non-residential housing credit and the amount of the non-residential housing credit. If the loan was secured by any portion of the building (as opposed to the entire building), the mortgage broker should inform the owner.

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