Apartments for Low Income

Questions and Answers

Your Questions About Apartments For Cheap

May 14, 2013

William asks…

Is there any hope for a cheap apartment in the Harrisburg area?

My boyfriend and I want to move into an apartment in the Harrisburg, PA area but need to know if there are any nice ones people know about? Are there any good jobs nearby? What’s the area like?

Administrator answers:

Yes, all housing in Central PA is low-cost. Not sure what you would consider nice, but I would suggest the West Shore. Pay in the area is not so great, but stay in your field. Meantime though, the general area is just GREAT! The Harrisburg-Carlisle area was named last week as the thrid best area in the whole USA to live. Go for it!

Ruth asks…

does anyone know anything about moving to a different apartment in the same complex?

I currently rent a townhome and am in a year lease. Recently (mostly due to gas and drving over 30 miles to work a day) money has become too tight for me to be able to “safely” afford my current apartment. I was wondering if anyone knows anything about seeing if the apartments would allow me to move during my lease to a cheaper apartment in the same complex?

Administrator answers:

It all depends on your complex’s policies, but usually they will let you move to another apartment in the same complex (EDIT: or even another complex under the same management company) without a problem. I’d stop by their office and chat with them though, and find out if you’d have to pay any type of fee or anything.

Michael asks…

how to clean a stained bathtub?

i live in an apartment with a cheap plastic/acrylic bathtub and have stained it with tanning spray… nothing scrubs off that tub, it’s horrible…. any ideas how to clean or cover up the mess??? thanks

Administrator answers:

This is a problem I just resolved in my own bathroom. The tub was very badly stained for over 8 years with red iron when our well went bad. I tried everything (Clorox, TSP, straight bleach, iron out, CLR, bartender’s friend, magic eraser, pumice stone, 409, Lime Away, Comet, I scrubbed really hard – get the picture). Nothing faded those stains. Then I found an on-line post that said to use “Super Clean” found in the automotive section of Wal-Mart ($6.95 – bright purple gallon container). I used it straight from the bottle and scrubbed with the rough side of a scotchbright sponge. The more I scrubbed the more the stains faded away. You have to use elbow grease, the stains don’t just melt away, but I still can’t believe I finally have a white tub after 8 years of red streaks everywhere. I don’t know why it works when nothing else will. But glad I found it.

I’m editing my post after reading a post suggesting you paint the tub if stains don’t come out. You do not own that tub, you are a renter. A decision to paint is the landlord’s decision, not yours. I would be mad as hell if my renter slapped a home paint job on my tub. A home paint job will not stand the test of time and your landlord will be left with a real mess when you move out. And you most likely will not get your deposit back.

Steven asks…

If you attend a Job Corps can you afford an apartment?

If you attend a job corps location that DOES NOT offer on campus housing, with the allowance you receive, would it be possible to afford a cheap apartment?

Administrator answers:

I’ve never heard of one without housing, but no. The allowance to start is $25 two times a month (but it increases a bit over time). Doesn’t sound like enough to afford a cheap apartment.

Sharon asks…

Looking to purchase a cheap apartment in South Korea?

Mweodu annyeong!!!

I am looking to purchase a cheap apartment in South Korea. I am only looking for a one bedroom as I only plan to use it for when I go between Korea and the U.S. I want to purchase a place because it is easier than constantly looking for a place to rent. Any suggestions? My main question really is what would the cost be of a cheap apartment outside of the city. I enjoy being outside of the city because I love walking when having to travel, and of course sleeping when I can instead of hearing the busy city. Please help!!! I am most likely looking at purchasing mid to end 2013-beginning of 2014. Please note, I ma NOT rich at all, I am just trying to make a living with the talents I have and looking to make a better life for myself, which means I am starting at almost nothing and trying to gain something.

Please help!! Gamsahapnida!!

Administrator answers:

As of 1998 (partly due to the IMF bailout), foreign residents have been allowed to purchase property in Seoul. Following is information on the process for buying residential property, inlcuding the manner in which banks calculate ‘mortgages’.

Eligibility:To purchase a residential property (apartments or villas) in Korea, a foreign national must be a legal resident. With an alien registration card, a seal, and a seal certificate (the last two can be obtained from a local “dong” office).

Category: At the time of purchasing a residential property, a foreign national must disclose to the bank her/his source of funds (SOF) and the purpose of the purchase.
- If the SOF is from overseas, the foreign purchaser will need the contract document to bring the money into Korea. If the purpose is investment, then the purchase will be treated as per Foreign Direct Investment (FDI) acts, and as such require (FDI) notification. However, if the purchaser intends to live in the premises, then no notification is required.
- If SOF is from the purchaser’s income in Korea, then the purchase can be made without the need to show the contract first.
Financing: There are two aspects to keep in mind while looking to finance a mortgage. Following are two sample cases (LTV and DTI).
1. Assumptions for LTV (loan-to-value ratio):
(a) Real estate appraisal amount: KRW 500 million
(b) No tenants
(c) No prior mortgage
(d) No. Of rooms: 4
(e) The apartment is being purchased through an auction, and a 10% down-payment was already paid.
The following formula is used to determine the eligible loan amount with respect to the appraisal amount (or the value of the real estate).
{(a) * (40%~60%)} – {(d) * 1/2 * KRW 25 million)}, which could be:
{500mil won * (40%~60%)} – {4 * 1/2 * 25mil won)} = 150mil ~ 250mil won
The LTV range of 40%~60% is determined by the location of the property. For speculative zones, such as Songpa-gu, Gangnam-gu, and Seocho-gu for example, the LTV has been set by the government on the lower side, which is 40%. For non-speculative zones the LTV can be as high as 60%.
2. Assumptions for DTI (debt-to-income ratio):
(f) Yearly repayment amount (Equal Monthly Installment based, includes interest and principal) on an existing un-secured personal loan (say 10mil won @ 7%): 700,000 won
(g) Yearly repayment amount (EMI based) on an existing office-tel “jeonse” loan (say 100mil won @ 6%): 6,000,000 won
(h) Yearly repayment amount (EMI based) on the to-be mortgage loan (say 300mil won @ 6%): 18,000,000 won
(i) Yearly gross income (before tax): 50,000,000 won
The DTI ratio basically restricts how much one can borrow based on one’s annual income and other existing loan obligations, and the formula to compute this is as follows:
[{Yearly repayments on existing loans (f + g) + Yearly repayments on the mortgage (h)} / (i)] * 100%, which in this case would be
[{0.7mil won + 6mil won + 18mil won} / 50 mil won] * 100% = 49.4%
The DTI ranges between 40% and 65%, depending on whether the property is located in a speculative zone, in which case the DTI will be maximum 40%, or in a non-speculative zone, in which case the DTI can be as high as 65%.
Banks primarily uses these two factors (LTV and DTI) to determine the loan amount. The final decision also takes into account other factors, such as the credit rating of the borrower and other assets.
Other important parameters to consider when applying for a loan are loan interest rate and repayments. Nowadays, interest rate can be based on either 3-month CD rate, or 6-month or 12-month COFIX rates. The COFIX rate is the new benchmark for floating rate bank loans. In terms of payment plan, one will have the option to choose a monthly installment plan plus lump-sum repayments without a fee.

Registration: The purchaser must report the aquisition of real estate to the jurisdictional city(si), county(gun), or district(gu) office and register the transfer of ownership within 60 days of signing the purchase contract.

So, short story is, although you as a foreigner may purchase property in Korea, you must first have an resident alien registration card (in the US this would be your green card).


BTW, it is very expensive to do this.

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