I was talking with a friend the other day who said she had looked into getting an FHA insured mortgage and was told she made too much money. This was news to me but with all the changes going on in Washington right now I thought it was possible.
Nope, I looked it up and there still aren't any upper or lower income limits for borrowers of FHA insured loans. They are still looking at the borrower's ability to pay back the loan, credit rating and loan-to-value ratios. I blogged about the limit of an FHA loan in San Diego ($690,000) a few months ago and should have added this information as well.
Nerdwallet is often a good place to go when you can't find financial information on a government website. Here is a good article with more specifics on FHA loans.
