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 family size. In addition, assets shall not exceed these limits. Currently, the income limits are as follows:
|
Maximum Annual Household Income Adjusted for Family Size
Effective March 17, 2009
|
|
Household Size
|
Maximum Annual Income
|
|
1
|
$55,950
|
|
2
|
$63,950
|
|
3
|
$71,950
|
|
4
|
$79,900
|
|
5
|
$86,300
|
|
6
|
$92,700
|
|
7
|
$99,100
|
|
8
|
$105,500
|
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 family size. In addition, assets shall not exceed these limits. Currently, the income limits are as follows:
|
Maximum Annual Household Income Adjusted for Family Size
Effective March 17, 2009
|
|
Household Size
|
Maximum Annual Income
|
|
1
|
$55,950
|
|
2
|
$63,950
|
|
3
|
$71,950
|
|
4
|
$79,900
|
|
5
|
$86,300
|
|
6
|
$92,700
|
|
7
|
$99,100
|
|
8
|
$105,500
|