Your income must be equal to or less than 80% of your county’s area median income (AMI).
You may not have to worry about income limits if you live in a low-income area. Low-income census areas are zones where the median household income is 20% below the location’s average median household. You can make more than the income requirements and still be eligible for a HomeReady mortgage.
Your income can be on the low end, but you’ll still need to meet a minimum credit score requirement.