Adjustments to reduce annual income
include $480 for each minor child, full time
student or a disabled member of the family.
$400.00 may be deducted from annual income for
each family member age 62 or older. Additional
deductions can be taken for annual child care
expenses, annual medical expenses and annual
Use the following link to accurately
determine if a prospective client meets the income guidelines established for this program.
Be certain to enter annual values where required and monthly values as indicated.
otherwise indicated, these APR calculations are
based on the following: Conforming loans (whose
maximum loan amount is below $417,000 for the
contiguous states, District of Columbia, and
Puerto Rico or below $625,500 for Alaska, Guam,
Hawaii and the Virgin Islands) are calculated
based on a loan amount of $417,000 with closing
costs of $8,340. Jumbo Loans (whose maximum loan
amount exceed $417,000 for the contiguous
states, District of Columbia, and Puerto Rico or
exceed $625,500 for Alaska, Guam, Hawaii and the
Virgin Islands) are calculated based on a loan
amount of $1,000,000 with closing costs of
$20,000. Your actual APR may be different
depending upon these factors.