What does Income qualified households(80% AMI) mean in real estate terms?

Asked by Bobbipoq@gmail.com, 54303 Thu Sep 10, 2009

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Debi Prosek, Agent, Green Bay, WI
Fri Sep 11, 2009
The area median income (AMI) is a statistic generated by the U.S. Department of Housing and Urban Development (HUD) for purposes of determining the eligibility of applicants for certain federal housing programs. HUD determines AMI on an annual basis for each metropolitan area and non-metropolitan county, making adjustments for household size and other factors. Different housing programs use different percentages of AMI – such as 30 percent of AMI or 80 percent of AMI – as maximum income limits for admission. Many state and localities have adopted HUD’s income limits for their own programs, or use a variation on the HUD limits – for example, 120 percent of AMI.

Click on the link below for more details from HUD.
3 votes
Maturner2, Home Buyer, Green Bay, WI
Tue Jun 20, 2017
I make 18,000 a year am I qualified for a loan to buy a 150000 house in Columbia sc ?
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