The HUD income list is for reporting statistical data. This is used for reporting and monitoring loans to low to moderate income families. Some, but not all programs, will use that particular chart. The problem is, HUD's LMI is not the State of Virginia's, nor the Federal Home Loan Bank. If one were to assume those were the income caps, many would walk away, when in fact they are eligible. I suspect TampaKaren was directed to that site for one program available in her area. For example, HUD's chart for my area:
FY 2008 Income Limits Documentation System -- Summary for Washington-Arlington-Alexandria, DC-VA-MD HUD Metro FMR Area
versus the income limits imposed by Virginia for the same Metro Statistica Area:
Sales Price and Income Limits for Virginia Housing (http://www.vhda.com/vhda_com/Template_app.asp?VHDA_COM_PAGE_NAME=Limits - broken link)
Then, to make it even more confusing, ACORN was set at 120% of median income, and I believe just recently dropped to 80% of median income. The Federal Home Loan Bank has 12 regional banks in the Federal Home Loan Bank System, which raises funds in the global financial markets and distributes the proceeds to members and local communities. My jurisdiction is under Atlanta, whose members are commercial banks, credit unions, thrifts, and insurance companies headquartered in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. Each year we receive grant money (up to 10K per first time buyer) to distribute that is set by zip code. And once again, Fannie Mae uses a geocoder system based on census tracts, not MSA's.
There are no uniform maximum income limits from program to program and then it will vary again, state by state, year to year, and even street number by street number. In 2008 our grant applicants for the FHLB money faced capped income that varied from 77K to 120K, McLean VA had a much higher income limit than, say Manassas, VA, 30 miles away, yet in the same reporting statistical area.
Your best bet is to find someone that knows first time home buyer programs in your community. I consider myself well versed, and I mixed up the State Limit w/ the Federal Home Loan Bank, and need to correct the income cap in a prior post to 100K.