Income requirements for FHA loan?

[Chris M.]

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.

[Adam Drummond]

@Chris M.   

I'm not sure i understand your question.  I believe in order to be approved for an fha loan..  they want to make sure that you're monthly debt including your new mortgage does not exceed roughly 42% of your Gross monthly income.  They include student loans, car paments, hosp bills, credit cars, etc in figuring your debt.  They will also want to see a history of "money reserves" to make sure that you have money for down payment and closing costs, etc.  I hope this helps.