How Much Loan & Home Do I Qualify For With An FHA Loan? (2018)
FHA loan s are the simplest home loan to qualify for! How much loan and how much home can I qualify for with an FHA loan? FHA loans are among the most common FHA mortgage questions. With today's pretty generous FHA loan limits of $405,950 loan amount in the inland empire and up to $679,650 in Los Angeles and Orange Counties in California (you can look up our own county limit here https://entp.hud.gov/idapp/html/hicostlook.cfm ), for most first time homebuyers, the question is more how much can I qualify for on my income rather than is the loan limits high enough. There are specific formulas to calculate income for different types of wage earners (hourly salary, salaried, commission, self-employed etc) that must be adhered to, but for the vast majority of FHA borrowers, the standards displayed in this video are accurate. If you have questions regarding income calculations, you can always feel free to reach out to Chris Trapani personally and he'll be happy to help. F...