Affordable Income & Property Eligibility
Affordable Mortgage Requirements
For certain Freddie Mac mortgage offerings, the borrower’s annual income must meet the following requirements:
- The Borrower’s annual income must be equal to or less than the area median income.
Income eligibility requirements may be different in high cost areas. An exception to the income requirements exists for properties located in designated “Underserved Areas.” Area median income requirements do not apply when borrowers finance a property located in an Underserved Area.
- Underserved Areas are determined at the census tract level. Census tracts generally comprise smaller areas than counties.
With Quick Lookup, You Can Find:
- Area Median Income Listings by County
- Designated Underserved Area Census Tracts
Formatting Tips for entering City or County or Census Tract Numbers:
- For City, enter the name only (cities starting with St. enter as one continuous name, no space after the period - e.g. St.Louis)
- For County, enter the name only (counties starting with St. enter as one continuous name, no space after the period - e.g. St.Lucie)
- For Census Tract Number, enter the first (4) digits of tract number (those to the left of the decimal including leading zeros – e.g. 0211). Do not enter the decimal point, any digits to the right of the decimal, or allow any spaces after the last digit entered.
The Quick Lookup search tool does not include Census Tracts for areas that are not considered Underserved Areas. If a Census Tract does not appear in a search, refer to the county area median income to determine eligibility requirements for that property.
Locating A Census Tract
The property appraisal report usually contains its Census Tract.
You may also find the Census Tract number by inputting the property address into the free geocoding system provided on the Federal Financial Institutions Examination Council (FFIEC) web site (www.ffiec.gov). Please note that area median incomes results provided on this web site may differ from Freddie Mac’s. In such an instance, lenders should refer to the Freddie Mac listing to determine borrower’s eligibility.
2016 Area Median Income (AMI) Changes
We've updated this tool to reflect the 2016 AMI estimates so that you can calculate 80 percent of AMI and determine eligibility for a lower Home Possible delivery fee.