Income & Credit

Income guidelines based on 2017 Area Median Income published by HUD.

Note:  Houses may require a higher minimum income than stated below. 


Credit Requirements

  • Have not owned a home in the past 3 years or had a foreclosure in 7 years.
  • Collections must be paid within 60 days of application or must have a repayment plan that is realistic to accomplish in 12 months or less and /or prior to construction on your home beginning.
  • Judgements must be paid of within 60 days of application.
  • If you have filed bankruptcy, it has been 5 years after discharge of Chapter 7 or 3 years after discharge of Chapter 13 bankruptcy before you apply.
  • Debt-to-income ratio: Income must be sufficient to cover current monthly debts plus mortgage payment.  Debt-to-income ratio must be less than 25/41.


Hourly Wage Calculator (wage calculated based on 40 hour work week)