Frequently Asked Questions - Loring Towers

How do I know if I qualify? Loring Towers is an affordable housing community, so eligibility is based on household income, household size, and standard rental screening. Apartments are offered through two programs (1) Project-Based Section 8 and (2) the Low-Income Housing Tax Credit (LIHTC) program. Both programs operate off a waitlist. To determine eligibility, we encourage you to begin by submitting a completed application and providing all required documents. Contact us today to get started! Project-Based Section 8: Your rent is typically calculated at ~30% of your gross household income. Your household income must not exceed the maximum income limit set forth by HUD guidelines. Low Income Housing Tax Credit (LIHTC): Your rent is a fixed amount per month. Your household income must fall within specific minimum and maximum income limits. Voucher holders are accepted for this program, and the minimum income limit does not apply. Is there a maximum income to qualify? Yes. These are income-restricted apartments, so your household income must be at or below the published limit for your household size. Is there a minimum income requirement? For tax-credit households without rental assistance, applicants generally need enough income to afford the rent and meet the minimum income requirement. Minimum income limits do not apply to voucher holders. Households under the Project-Based Section 8 program have no minimum income requirement, since rent adjusts to your income. Do you accept Housing Choice Vouchers? Yes, housing vouchers are welcome. Minimum income limits do not apply to voucher holders. Is there an application fee or security deposit? No application fee, no security deposit. How do I apply? You can request an application by reaching our office at 978-745-2055 or visiting 1000 Loring Ave, Salem, MA 01970. You can also contact us here or download the application here. Is there a waitlist, and how long is the wait? Affordable apartments are in high demand, so there is often a waitlist. Wait times vary by apartment size, program, and turnover, and cannot be predicted precisely. Our waitlists are open and we are accepting applications! What documents will I need to determine eligibility? Typically, you’ll need identification for each household member, income verification (such as pay stubs, benefit award letters, or Social Security statements), and asset information such as bank statements. Speak to our team directly for more information.