You have successfully determined your basic housing needs. Now you must think about your income.
Landlords, property managers, mortgage lenders, and housing subsidy programs will ask questions about your income when applying for an apartment or mortgage loan. Listed below are examples of income questions that may be on a rental, mortgage loan, or housing subsidy application:
How much income do you receive and, or earn?
What are your sources of income?
Is your income permanent, temporary, or seasonal?
Do you receive income regularly (weekly, bi-weekly, monthly, semi-annually, or annually) or occasionally (seasonal, stipends, or monetary gifts)?
You will also need documentation (paperwork) to verify sources of income. In addition, it is a good habit to keep a record of your sources of income. Recordkeeping will help with managing your money, as discussed in Step 4: Prepare.
The Income Tracker Form below is an example of how to record your sources of income:
| Source(s) of Income | How Often Do You Receive Income from this Source? (weekly, bi-weekly, monthly, semi-annually, annually, or occasionally |
Permanent Income | Temporary, Seasonal, or Occasional, Income and Monetary Gifts. (Also write the dates received and end dates) | Do You Have Documentation to Verify this Income? | Do You Have Two Recent Months of Documentation to Verify this Income? |
| SSDI | Monthly | $760.00 | No | Yes | Yes |
| Job Training | Bi-weekly | No | $200.00 (1/1/23 – 7/1/23) |
Yes | Yes |