Financing in 94501>Question Details

Lemmie, Home Buyer in 94501

When homebuyer assistance programs list HUD income limits, is the amount before tax or after tax?

Asked by Lemmie, 94501 Sat Aug 14, 2010

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Lemmie,

For lending qualifications gross income (before taxes) is always used.

Regards,
Shawn
1 vote Thank Flag Link Sat Aug 14, 2010
Always Gross (before tax) never net.
1 vote Thank Flag Link Sat Aug 14, 2010
Lemmie,

Shawn beat me to the punch...He is correct. Gross income is always used in qualifying for a loan. If you are thinking about purchasing a home, I can help you.

Good Luck..
Web Reference: http://www.jeanpowers.com
1 vote Thank Flag Link Sat Aug 14, 2010
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