Income guidelines for Homeownership Readiness Assessment Updated

We recently updated the income guidelines on our for our Homeownership Readiness Assessment. Household income for our program needs to be between 50% and 75% of the area median income. Household income includes all adults residing in the unit. 

Family Size   50% (minimum) 75% (maximum)
 1  $28,800  $43,155
 2   $32,900  $49,320
 3   $37,000  $55,485
 4  $41,100  $61,650
 5  $44,400  $66,582
 6  $47,700  $71,514

Homeownership Readiness Assessment is individualized assistance to explore the purchase of a home and includes:

  • Reviewing basic information about your current financial situation 
  • Obtaining and reviewing your current credit report from three reporting bureaus 
  • Determining your ability to qualify for a mortgage at this point in time 
  • Establishing a housing affordability range for a home purchase price or mortgage limit 
  • Identifying programs that may assist you in purchasing a home 
  • Developing a home buying plan outlining steps you can take to qualify for a mortgage
For more information about the Homeownership Readiness Assessment, contact us at 515.243.1277.

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