Low Income Mortgage - Low income mortgages are possible with the help of government backed loans. With better compensating factors such as good cash reserves and credit scores, FHA loans can allow higher debt to income ratios for qualifying in these programs.

Although there are low income mortgages you still will have to hold within underwriting guidelines for the home you purchase. If you take your gross Pre-tax monthly income and multiply it times .40 you have the amount you can spend on housing, revolving credit bills and property taxes.

 

 ++