2020 Maximum Income Eligibility

Lubbock County, Texas

Median Income
$69,200
1-person2-person3-person4-person5-person6-person7-person8-person9-person10-person
80%$38,752$44,288$49,824$55,360$59,789$64,218$68,646$73,075$83,704$95,042
60%$29,064$33,216$37,368$41,520$44,842$48,163$51,485$54,806$62,778$71,282
50%$24,220$27,680$31,140$34,600$37,368$40,136$42,904$45,672$52,315$59,401
40%$19,376$22,144$24,912$27,680$29,894$32,109$34,323$36,538$41,852$47,521
35%$16,954$19,376$21,798$24,220$26,158$28,095$30,033$31,970$36,621$41,581

These income guidelines are in effect until revised by HUD.

Gross income is important and we use it to determine the following:

1. Income Qualifications

Gross income is compared to the HUD guidelines for 30 to 60% of AMI, not to exceed 80% of AMI.

2. Housing Burden

LHFH does not cost burden a family for a mortgage payment over 30%.

3. Debt-to-income Ratio

As a basis for determining the debt to income ratio, which is a maximum of 43% total debt ratio to qualify.

Applicant/Co-Applicant(s)

Any adult that will be living in the house and whose income will be used to qualify for a house must be an applicant or co-applicant(s). Each applicant or co-applicant(s) must sign and be obligated for the LHFH mortgage. Possible Exception: should an adult be deemed disabled or incapacitated and cannot legally execute a contract, the legal caregiver to whom any benefits are paid directly to on behalf of the disabled/ incapacitated adult, to provide shelter, food, medical and basic needs, may use income as a qualifier. Appropriate documentation is required to prove that it will be received at least 2 years moving forward.

A LHFH Homeowner(s) must have sufficient monthly income to pay the LHFH mortgage, property taxes, homeowner’s insurance and in some cases homeowner association (HOA) dues without becoming debt- burdened.

To save and/or print the above info, download the attached PDF

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