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Requires a homepath mortgage a certain income?

My buyers agent told me so but I couldn't find anything about that. 
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June 18 2011 - Virginia Beach
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There is no maximum amount of income you must make less than in order to qualify for a HomePath mortgage.  

However the minimum amount of income required is whatever is needed to qualify for the loan - Fannie Mae HomePath financing permits up to a 49.99% total debt ratio (I believe it still caps out at 44.99% housing ratio but it's been a few versions of their software since I've tested that limit)... So the new housing payment (principal, interest, taxes, insurances, and any HOA fees), along with your consumer debt payments (car, credit cards, student loans, etc.) could not be any more than 49.99% of your qualifying gross income.
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June 18 2011
Great info Shane. Also, should you need the HomePath Renovation, your income qualifications are the same. Given that these are FannieMae foreclosures AND FM HomePath loan, FM allows their computer underwriting for acceptance/approval, so many factors drive just "how much" you need in income.
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June 19 2011
 
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