Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.
This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Princess Anne but actual income limits may differ for units at Loretta Village II.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
These general income qualifications for Princess Anne, Maryland should only be used as a basic guide. To find out if you qualify, contact the community directly.
You can usually make up to 80% of the Area Median Income (AMI) to be eligible for a HUD-Assisted Housing unit, but income qualification tiers for this community may be different due to various policies.
Loretta Village II receives rental subsidies through HUD-Assisted Housing for some or all of its apartments. Some units may be designated as market rate housing. Market rate units would have no subsidies or income restrictions.