are there income requirements or caps for FHA mortgage?

Hi there. No, there are no income caps for an FHA mortgage. The benefit to an FHA mortgage is that it only requires a minimum down payment of 3.5% and the credit requirements are more relaxed, however the mortgage insurance is higher than with a conventional mortgage. If you would like more information, please feel free to give me a call at your convenience. Nick - 303-407-0824

No but there are loan amount limits. For Boulder it is $408,250 for a single family home. Some condo complexes might not be eligible, but most probably are. Call to discuss furhter! Chris Neuswanger 970-748-0342 or visit www.mtnmortgageguy.com to start an application on line!

There is not an income restriction for an FHA insured loan. FHA is actually a federal insurance program for Housing Urban Development or HUD. The benefit of this loan is 3.5% down vs. 5% on most conventional loans. Interest rates are anywhere from .375 - .5% lower as well. If you would like additional information you can check out http://portal.hud.gov/hudportal/HUD or you can check out our website @ www.tlclender.com

There are no income caps for an FHA loan, but there ARE maximum loan amount limits. These limits are based on the county in which the property is located. You can check FHA loan limits in your area by following this link: http://joemetzler.com/fhalookuptool.htm

Good answers previously. Generally FHA is a better option for those with limited downpayment (hard time coming up with at least 5%) and/or credit under 680ish. With 5% down and decent credit/qualifications a conventional loan usually makes more sense.

There are no income requirements for FHA. However you do have a maximum debt to income ratio you need to stay under. Typically it is a max of 55%, but will depend on your particular situation. If you have any questions you can always reach me at 303-521-7169 or syoung@firstcal.net / Best wishes, Sean

FHA does not have minimum or maximum income requirements, you just have to have enough income to satisfy the lenders maximum loan to value requirements. They do however have a maximum LOAN AMOUNT based on the county your looking to purchase in. For Bolder CO., $408,250 is the most you can borrow. You can purchase a home for more than $408,250, but you cannot finance more than that amount.. The only benefit to going FHA is that the BK, Foreclosure and Short sale waiting periods are less than conventional, and they allow for greater debt to income ratios than conventional. If you have sufficient credit, and no credit deficiencies that mandate a specific waiting period, then I suggest to you use Conventional financing rather than FHA. The best advice I can give you is to contacting a LOCAL mortgage broker and apply with them. By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com