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Are there income limits for an FHA 203K Loan?

Are there income limits for an FHA 203K Loan? by frand793 from Mena, Arkansas. Apr 27th 2011 Reply


Mike George (Mike George)
#140 ranked lender in California - 7 contributions

There are no "income limits for a FHA 203k loan. You qualify just as you would a regular loan plus the amount for the improvements to the property.

Apr 27th 2011
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Wendy St Julien (Wendy@stjulienhomeloans.com)
#19 ranked lender in Washington - 8 contributions

There are no income limits. There are loan limits. They are based on the area you live in. You can look it up on the HUD website. The link ishttps://entp.hud.gov/idapp/html/hicostlook.cfmWendy

Apr 27th 2011
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

No income limits.

Apr 28th 2011
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Tom Stevens (Thomas.Stevens)
#21 ranked lender in Massachusetts - 68 contributions

If you're looking for a fixer-upper HUD (FHA) foreclosed homes are available in some areas with as little as $100 down and some repairs can be financed. Likewise check out FannieMae's REOs at www.homepath.com - I offer both of these programs plus 203(k) and none have income limits.

Apr 28th 2011
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As you've read, there are not income limits when it comes to the 203k loan. Now, when it comes to the Standard or Full 203k, the loan to value will come into play for the after-improved home. On a 203k Streamline, the biggest limit is the $35,000 limit on improvements. Above that and you'll need the Full. You can download a pretty short 203k eBook for free here: http://blog.amerifirst.com/download-the-fha-203k-ebook/?=lender411 Hope this helps answer your question!

Apr 28th 2011
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