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Renewal/Adjustment Frequently Asked Questions
1.When should I submit a contract renewal request?
HUD requires the requests to be submitted at least 120 days prior to contract/funding expiration
2. What is debt service?
Debt service equals Principal + Interest + MIP (if applicable) -
3. Can an increase factor (line Q) be less than one?
No, the increase factor must be greater than one.
4. How do I calculate line N?
Line N is a calculation consisting of line M times one plus the OCAF.
5. What is the 2012 OCAF for Michigan?
The 2012 OCAF for Michigan is 2.3%, which will become effective February 11, 2012.
6. Do I have to submit a utility allowance analysis?
Any property at which tenants receive a utility allowance is required to submit an analysis with every contract or funding renewal.