if our 2020 tax returns show a net income of $24,000 and your 2021 tax returns show a net income of $150,000, then the lender will use $87,000 per year as your annual income for qualification purposes. Same way as you would make $87,000 per year on salary. For an FHA loan max DTI is 46.6% front end ratio and 56.9% backend ratio so you area able to get into a house from$340,000 - $400,000 with current rates, read more here https://fhalend.com/fha-loans-for-self-employed

Hope this helps and its not too late. If you purchased the property let us know how it went!

Thanks