NSP FAQ
Q

Whose income is used to determine household income?

Date Published: October 2012

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A

It depends on which of the three ways you calculate income; Part 5, IRS, or American Community Survey (ACS)/ Census. The Part 5 definition of household income includes the income calculation of all adults, 18 and older, who will be part of the household during the time NSP assistance will be received, plus unearned income of minor children (e.g., TANF). The IRS method includes everyone that was included in the recipient's tax returns. The ACS method determines income based on reporting on the most recent ACS form. Refer to the Guide to Completing NSP Income Certifications for additional guidance.


Tags: NSP Homebuyer Assistance Programs - Homebuyer Program Design and Implementation

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FAQ ID:

1185