Are there income or asset limits to apply? Where can I view the 120% AMI limit?

Income: Yes, your total household income cannot exceed 120% of the Area Median Income (AMI), which represents the average income in your county. The exact limit depends on the county and the number of people living in the home:

Assets: You cannot have more than $50,000 in liquid assets (cash) when purchasing a home, unless the bank requires you to keep more than $50,000 on hand for housing expenses after you purchase.