Fixed-price mortgage loans appear in ten-, 15-, 20- and you may 30-season terminology, there try adjustable-price financial options also
Your house You are able to Advantage financial doesn’t title loans Brownsville have earnings restrictions for home situated in designated low- so you’re able to moderate-earnings or significantly less than-served teams, once the outlined because of the Freddie Mac computer. Freddie Mac will bring an internet eligibility product where consumers and you will banks is enter an area code to determine what, if any, income limits is set up to own a particular place.
Eg, a browse , into Freddie Mac’s qualifications product showed that there is no income limit to own Lawrence, Massachusetts or Boston’s Eastern Boston neighborhood; not, Plymouth, Massachusetts and you may Boston’s South Stop society each other got a living maximum of $126,900.