According to Bankrate.com's weekly national survey of large lenders, the average 30-year fixed mortgage has an average of 0.4 discount and origination points. Mortgage rates were lower across the board, with the average conforming 30-year fixed mortgage rate falling to 6.53 percent. There is no upper age limit set by HUD for the borrower. Nor is there a certain income level that the borrower must achieve in order to buy a home at a certain price. And although income is certainly an important factor, it is simply one of the several determining factors which are used by the HUD to find whether the borrower will be able to repay the mortgage.
