Maximum Income and Sales Price
There are maximum income limits and sales price limits associated with the program. This means that in order to qualify for the program, your income must not exceed the program’s limits for income and the sales price of the home that you would like to purchase cannot exceed the program’s limits.
| 2023 Gross Income Limits Adjusted to Family Size (Based on Area Median Income of $93,300) |
||||
|---|---|---|---|---|
| Persons per Household |
Very Low Income (50%) AMI |
Low Income (80%) AMI |
Moderate Income (120%) AMI |
|
| 1 | $31,000 | $49,600 | $74,400 | |
| 2 | $35,400 | $56,650 | $84,960 | |
| 3 | $39,850 | $63,750 | $95,640 | |
| 4 | $44,250 | $70,800 | $106,200 | |
| 5 | $47,800 | $76,500 | $114,720 | |
| 6 | $51,350 | $82,150 | $123,240 | |
| 7 | $54,900 | $87,800 | $131,760 | |
| 8 | $58,540 | $93,500 | $140,280 | |
Unfortunately, households earning less than $25,000 annually may be unable to purchase a home through these programs.
* Those households earning more than the Moderate Income category are over-income and ineligible to participate.
** In computing eligibility, it is required that the gross income for the entire household such as permanent roommates, employed children over 18, elderly parents, and others not applying for the mortgage loan be counted.
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