More in State Said to Qualify for...

More in State Said to Qualify for Homes: Lower home prices and a decline in mortgage interest rates combined to allow more Californians to qualify to purchase the median-priced home in August, the California Assn. of Realtors reported. Statewide, 17% of households earned the income needed to qualify for a mortgage loan to purchase the median-priced, existing, single-family home, up from 16% in July. Assuming a 20% down payment on that home, which sold for $201,028 in August, a household needed a minimum annual income of $66,224.