What are the qualifying incomes?
In order to be eligible for this program, the buyers’ annual income shall not exceed 120% of the area median income, as determined by HUD, adjusted for Household size. In addition including asset income. Currently, the income limits are as follows:
|
Maximum Annual Household Income Adjusted for Household Size
Effective July 2011
|
|
Household Size
|
Maximum Annual Income
|
|
1
|
$55,000
|
|
2
|
$62,900
|
|
3
|
$70,750
|
|
4
|
$78,600
|
|
5
|
$84,900
|
|
6
|
$91,200
|
|
7
|
$97,450
|
|
8
|
$103,750
|
What are the qualifying incomes?
In order to be eligible for this program, the buyers’ annual income shall not exceed 120% of the area median income, as determined by HUD, adjusted for Household size. In addition including asset income. Currently, the income limits are as follows:
|
Maximum Annual Household Income Adjusted for Household Size
Effective July 2011
|
|
Household Size
|
Maximum Annual Income
|
|
1
|
$55,000
|
|
2
|
$62,900
|
|
3
|
$70,750
|
|
4
|
$78,600
|
|
5
|
$84,900
|
|
6
|
$91,200
|
|
7
|
$97,450
|
|
8
|
$103,750
|