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Updated about 8 years ago,
Income requirements for FHA loan?
Hey guys, I've got a question about income requirements to get approved for a FHA loan. I'm planning on purchasing a $250,000 house with a 30-year-fixed FHA loan with 3.5% - 4% down. My goal is to have a monthly mortgage + PMI + taxes/fees etc at $2,000 per month (max of $2,500/mo including utils and repairs).
I'm guessing it sort of depends on which bank I'm applying at for the loan, but are there some basic universal income requirements for a FHA loan like this?
Thanks guys, I'm working on improving my credit score, but the income requirement part is what really has me worried. Hope I can make this work and thanks for any information.