Jun 18, 2018 18-09
Potential Internet Misinformation and Revised Program Household Income Limits
Potential Internet Misinformation:
In recent weeks there has been an unusually high number of compliance files received where the borrower’s income is above our current income limit qualifications.
In some instances this is due to our partners searching for MFA income limits on the interneti and receiving incorrect figuresii from previous years. As you know, these income and acquisition limits can vary from year to yeariii. We urge all of our partners to obtain our income limits directly from the designated area within MFA's website.
MFA must stress that issues originating from these discrepancies are very time consuming for all parties involved in the loan transaction. Your co-operation in this matter is greatly appreciated.
Please bear in mind that income and purchase price limits are federally established and regulated. MFA does not have the authority to deviate from the current published limits. Furthermore, MFA does not assume any responsibility for limits obtained and disclosed outside of the designated area within its website.
Revised program household income limits:
MFA is revising the Household Income Limits, effective with loans reserved on June 18, 2018 for the First Home and Next Home Programs as well as the First Down program.
This includes the results generated from internet search engines such as Google, Bing, and Yahoo etc. MFA cannot control the content or output of information outside of its own website.
Prior year memorandums to lenders archived within MFA’s websites may contain expired information and those figures may no longer be applicable.
Income and purchase price limits are typically updated by HUD between May and July of each year.
Click here to view MFA’s current income and purchase price limits.
Please feel free to contact MFA’s Homeownership Department with any questions or for further clarification.
Thank you for participating in MFA’s single family program.
iThis includes the results generated from internet search engines such as Google, Bing, and Yahoo etc. MFA cannot control the content or output of information outside of its own website.
iiPrior year memorandums to lenders archived within MFA’s websites may contain expired information and those figures may no longer be applicable.
iiiIncome and purchase price limits are typically updated by HUD between May and July of each year.
