December 11, 2019

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FHA Loan Rules: Income Limits, Loan Limits

076A reader asks, “Can a 68 year old retired person qualify for an fha loan and what is the dollar limit?”

FHA loan rules do not specify an age limit or an income limit. FHA home loans are for any qualified borrower who meets the FHA loan program minimum FICO score standards as well as (possibly higher) lender FICO score standards.

There’s no minimum or maximum income requirement–instead, the borrower’s debt-to-income ratio is examined to see if she or he can afford the new loan.

This means that a borrower who seems to have a low income but can afford both existing monthly payments and the proposed new FHA home loan may be eligible for loan approval as long as they otherwise qualify with FICO scores, good loan repayment history, etc.

It’s assumed the reader question about the”dollar limit” for FHA home loans refers to FHA maximum loan guaranty amounts.

The amount of your FHA home loan is basically determined by the appraised value or sale price of the home, whichever is lower. Other factors could affect the loan amount including any add-ons, discount points or other expenses that are permitted to be included in your loan amount.

Borrowers are required to make a minimum 3.5% down payment on the FHA loan–this can also affect the final amount of your loan. Speak to a loan officer to learn more about these issues and how they might affect your loan amount.

Do you have questions about FHA home loans? Ask us in the comments section. Be aware that all questions and comments are held for review prior to appearing on the site.


Joe Wallace - Staff Writer

By Joe Wallace

February 25, 2015

Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for for (8) years and is currently the Associate Editor for

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About was launched in 2010 by seasoned mortgage professionals wanting to educate homebuyers about the guidelines for FHA insured mortgage loans. Popular FHA topics include credit requirements, FHA loan limits, mortgage insurance premiums, closing costs and many more. The authors have written thousands of blogs specific to FHA mortgages and the site has substantially increased readership over the years and has become known for its “FHA News and Views”.

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