Yes — HomeReady® has income limits, typically 80% of Area Median Income. Learn how AMI works by county and how it differs from VLIP.
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Income Limits
Yes. HomeReady® generally requires qualifying income at or below 80% of Area Median Income (AMI) for the property’s location — limits that change by county and household size.
Area Median Income is a regional income benchmark published for housing programs. HomeReady uses roughly 80% of that figure as the ceiling for qualifying income on the loan. A household that clears AMI in one Indiana county may be over the limit a few miles away.
Limits also scale with household size — a family of four has a higher dollar cap than a single borrower in the same metro. Ryan and Steve look up the property county, compare your documented income, and tell you pass/fail before you write an offer.
Charts update periodically. Any AMI number you see online should be treated as educational until it is confirmed against the current Fannie Mae HomeReady income look-up for your subject property.
HomeReady is flexible on income sources — but every dollar used to qualify still counts against the AMI cap.
Two related screens — do not confuse them when planning grants.
Related guides if you are near an AMI cutoff.
Ryan & Steve will look up the current AMI chart for your target county, test HomeReady and VLIP screens, and map an alternate path if you are over the limit.
HomeReady is a registered trademark of Fannie Mae. All loans are subject to credit and property approval. Program guidelines, income limits, and pricing are subject to change without notice and may not be available in all areas. This website is not affiliated with or endorsed by Fannie Mae, HUD, or any government agency. Information is for educational purposes only and is not a commitment to lend.