What are the qualifying incomes? In order to be eligible for this program, the buyers’ annual income (including asset income) shall not exceed 80% of the area median income, as determined by HUD, adjusted for household size. Currently, the income limits are as follows:
|
Maximum Annual Household Income Adjusted for Household Size
Effective July 2011
|
|
Household Size
|
Maximum Annual Income
|
|
1
|
$37,350
|
|
2
|
$42,700
|
|
3
|
$48,050
|
|
4
|
$53,350
|
|
5
|
$57,650
|
|
6
|
$61,900
|
|
7
|
$66,200
|
|
8
|
$70,450
|