Atlantic City FHA Loan Rates, Closing Costs & Stats

ATLANTIC CITY-HAMMONTON, NJ

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Atlantic City's 88 lenders originated 762 FHA loans during 2024. The total origination value was $215,040,000, with an average FHA loan value of $282,205.

    Atlantic City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Atlantic City averaged 7.18% for the week of 2025-05-23, compared to the national average (all FHA variants) of 6.612% for the same period.

    Atlantic City's average FHA mortgage closing costs are $8,457.

    The average rate for the prior week (2025-05-16) was 7.11% and one month ago for the week of 2025-04-18, the average rate was 6.83%.

    The average rate one year ago was 7.21%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.75%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Atlantic City FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Atlantic City level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Advisors Mortgage Group, L.L.C. 89 6.44% $10,561
    GREENTREE MORTGAGE COMPANY, L.P. 73 6.66% $9,902
    QUICKEN LOANS, LLC 58 6.30% $12,348
    NATION ONE MORTGAGE CORPORATION 51 6.65% $15,801
    CROSSCOUNTRY MORTGAGE, LLC 42 6.49% $13,010
    AFFORDABLE MORTGAGE ADVISORS, LLC. 40 6.49% $10,672
    PENNYMAC LOAN SERVICES, LLC 26 6.16% $11,487
    FREEDOM MORTGAGE CORPORATION 23 6.32% $15,345
    UNITED WHOLESALE MORTGAGE, LLC 20 5.90% $18,250
    LOANDEPOT.COM, LLC 20 6.28% $13,169
    BROKER SOLUTIONS, INC. 16 6.45% $13,041
    NEWREZ LLC 15 6.47% $10,943
    Mr. Cooper ( Nationstar Mortgage ) 12 6.55% $15,854
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 11 6.48% $14,778
    ALLIED MORTGAGE GROUP, INC. 10 6.25% $11,531
    NFM, INC. 8 6.61% $9,641
    DHI MORTGAGE COMPANY, LTD. 8 6.56% $11,437
    CMG MORTGAGE, INC. 7 6.75% $14,508
    Acre Mortgage and Financial Inc 7 6.39% $16,022
    Meridian Bank Corporation 7 6.68% $13,131
    Gateway First Bank 7 6.71% $11,878
    SUCCESS MORTGAGE PARTNERS, INC. 6 6.56% $14,823
    UNION HOME MORTGAGE CORP. 6 7.06% $11,935
    Equity Prime Mortgage LLC 6 6.92% $14,877
    LAKEVIEW LOAN SERVICING, LLC 6 6.31% $8,700
    Prosperity Home Mortgage, LLC 5 6.78% $9,373
    Carrington Mortgage Services, LLC 5 6.30% $12,320
    AmeriHome Mortgage Company, LLC 5 6.53% $10,271
    GUARANTEED RATE, INC. 4 6.47% $11,194
    CARDINAL FINANCIAL 4 6.56% $16,413
    Citizens Bank 4 6.53% $12,354
    AMERISAVE MORTGAGE CORPORATION 3 6.00% $20,856
    Presidential Bank, FSB 3 6.33% $11,924
    EMM LOANS LLC 3 6.63% $11,054
    LADERA LENDING, INC. 3 6.54% $13,120
    M&T Bank 3 6.33% $11,163
    MUTUAL OF OMAHA MORTGAGE, INC. 3 5.79% $19,842
    U.S. Bank 3 6.75% $8,661
    Paramount Residential Mortgage Group, Inc. 3 6.83% $15,472
    AMERICAN FINANCING CORPORATION 3 5.38% $12,186
    VILLAGE CAPITAL MORTGAGE 3 6.13% $9,971
    BOND STREET MORTGAGE, LLC 3 6.17% $10,766
    MOVEMENT MORTGAGE, LLC 3 6.42% $13,778
    ABSOLUTE HOME MORTGAGE CORPORATION 3 6.54% $11,014
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.94% $16,128
    The Federal Savings Bank 2 6.50% $12,994
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.75% $16,425
    RELIANCE FIRST CAPITAL, LLC 2 6.50% $15,325
    US MORTGAGE CORPORATION 2 6.56% $10,239
    GREENWAY MORTGAGE FUNDING CORP. 2 6.75% $10,752
    Wilmington Savings Fund Society, FSB 2 6.06% $7,652
    ROYAL UNITED MORTGAGE LLC 2 6.00% $18,973
    HOMESIDE FINANCIAL, LLC 2 6.69% $10,970
    ENVOY MORTGAGE, LTD 2 6.25% $11,576
    Nations Lending Corporation 2 6.75% $11,500
    ZILLOW HOME LOANS, LLC 1 6.75% $14,704
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $15,839
    Bank of America 1 6.63% $10,393
    BAY EQUITY LLC 1 6.25% $12,831
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.75% $7,220
    DEVELOPER'S MORTGAGE COMPANY 1 6.63% $8,496
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.13% $11,394
    Flagstar Bank, FSB 1 6.05% $10,129
    GUARANTEED RATE AFFINITY, LLC 1 6.63% $9,302
    GUILD MORTGAGE COMPANY 1 5.63% $6,910
    HARTFORD FUNDING, LTD. 1 6.25% $11,604
    JMAC LENDING, INC. 1 7.13% $12,251
    LOANLEADERS OF AMERICA, INC. 1 7.63% $13,672
    MICHIGAN MUTUAL, INC. 1 6.25% $8,605
    MLB RESIDENTIAL LENDING, LLC 1 7.25% $21,089
    Mortgage Research Center, LLC 1 6.88% $9,464
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.25% $16,750
    NJ LENDERS CORP. 1 6.75% $6,749
    OceanFirst Bank 1 6.63% $8,694
    OCMBC, INC. 1 7.75% $9,433
    PHH Mortgage Corporation 1 6.13% $8,061
    PINNACLE MORTGAGE, INC. 1 6.25% $12,420
    PLANET HOME LENDING, LLC 1 7.13% $13,536
    POLARIS HOME FUNDING CORP. 1 7.00% $16,953
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $13,192
    Quaint Oak Mortgage, LLC 1 6.50% $13,807
    Residential Mortgage Solutions, Inc. 1 6.00% $8,731
    SUN WEST MORTGAGE COMPANY, INC. 1 7.25% $16,645
    The Loan Store, Inc. 1 6.49% $13,844
    THE MORTGAGE FIRM, INC. 1 7.25% $10,696
    Truist 1 6.25% $9,351
    UNITED MORTGAGE CORP 1 6.25% $15,416
    Waterstone Mortgage Corporation 1 6.63% $14,866

    The top Atlantic City FHA lender as defined by loan originations is Advisors Mortgage Group, L.L.C., with 89 FHA loans originated. Their average total fees are $10,561, which is $660 higher than the next largest lender, GREENTREE MORTGAGE COMPANY, L.P..

    The lowest fee Atlantic City FHA lenders (with over 10 loans originated) are GREENTREE MORTGAGE COMPANY, L.P. ($9,902), Advisors Mortgage Group, L.L.C. ($10,561), AFFORDABLE MORTGAGE ADVISORS, LLC. ($10,672), NEWREZ LLC ($10,943) and PENNYMAC LOAN SERVICES, LLC ($11,487).

    The lowest rate Atlantic City FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.90%), PENNYMAC LOAN SERVICES, LLC (6.16%), ALLIED MORTGAGE GROUP, INC. (6.25%), LOANDEPOT.COM, LLC (6.28%) and QUICKEN LOANS, LLC (6.30%).

    Atlantic City FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ATLANTIC CITY-HAMMONTON, NJ ATLANTIC 2022 $420,680 $538,650 $651,050 $809,150
    ATLANTIC CITY-HAMMONTON, NJ ATLANTIC 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Atlantic City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $289,800 (3.7%) $534,582 (12.2%) 1.07 4,588
    2018-02-01 $296,000 (2.3%) $543,944 (11.2%) 1.07 4,718
    2018-03-01 $290,000 (0.0%) $546,909 (9.8%) 1.02 4,819
    2018-04-01 $295,513 (1.9%) $550,479 (9.8%) 1.00 4,812
    2018-05-01 $299,450 (2.9%) $555,238 (9.7%) 1.00 4,852
    2018-06-01 $299,900 (3.5%) $560,524 (9.4%) 1.00 4,764
    2018-07-01 $299,900 (3.8%) $572,460 (11.8%) 1.00 4,674
    2018-08-01 $306,250 (5.7%) $578,525 (12.6%) 1.03 4,667
    2018-09-01 $309,900 (5.2%) $577,109 (10.7%) 1.04 4,677
    2018-10-01 $309,450 (5.1%) $578,065 (9.0%) 1.05 4,661
    2018-11-01 $307,250 (5.2%) $573,629 (8.2%) 1.04 4,637
    2018-12-01 $309,000 (6.6%) $571,949 (8.0%) 1.07 4,544
    2019-01-01 $312,450 (7.8%) $575,360 (7.6%) 1.08 4,335
    2019-02-01 $319,000 (7.8%) $585,644 (7.7%) 1.08 4,516
    2019-03-01 $321,529 (10.9%) $596,464 (9.1%) 1.05 4,673
    2019-04-01 $324,900 (9.9%) $606,450 (10.2%) 1.03 4,721
    2019-05-01 $322,450 (7.7%) $576,226 (3.8%) 1.01 4,766
    2019-06-01 $323,500 (7.9%) $571,875 (2.0%) 1.01 4,718
    2019-07-01 $319,900 (6.7%) $576,108 (0.6%) 1.00 4,638
    2019-08-01 $313,091 (2.2%) $574,999 (-0.6%) 0.99 4,593
    2019-09-01 $305,727 (-1.4%) $570,540 (-1.1%) 0.98 4,518
    2019-10-01 $305,318 (-1.3%) $569,687 (-1.5%) 0.99 4,452
    2019-11-01 $319,000 (3.8%) $574,439 (0.1%) 1.05 4,236
    2019-12-01 $310,271 (0.4%) $568,434 (-0.6%) 1.03 3,998
    2020-01-01 $316,184 (1.2%) $680,309 (18.2%) 1.06 3,800
    2020-02-01 $319,900 (0.3%) $690,297 (17.9%) 1.05 3,828
    2020-03-01 $321,500 (0.0%) $593,013 (-0.6%) 1.01 3,874
    2020-04-01 $319,900 (-1.5%) $589,920 (-2.7%) 1.00 3,785
    2020-05-01 $319,250 (-1.0%) $594,887 (3.2%) 0.97 3,656
    2020-06-01 $319,900 (-1.1%) $628,577 (9.9%) 0.94 3,311
    2020-07-01 $319,250 (-0.2%) $638,525 (10.8%) 0.93 2,911
    2020-08-01 $319,000 (1.9%) $622,620 (8.3%) 0.91 2,695
    2020-09-01 $327,000 (7.0%) $626,875 (9.9%) 0.94 2,621
    2020-10-01 $329,000 (7.8%) $631,642 (10.9%) 0.94 2,572
    2020-11-01 $324,900 (1.9%) $635,284 (10.6%) 0.95 2,487
    2020-12-01 $318,450 (2.6%) $623,561 (9.7%) 0.95 2,373
    2021-01-01 $310,850 (-1.7%) $620,972 (-8.7%) 0.93 2,050
    2021-02-01 $311,500 (-2.6%) $657,398 (-4.8%) 0.91 1,757
    2021-03-01 $322,450 (0.3%) $684,069 (15.4%) 0.91 1,696
    2021-04-01 $332,325 (3.9%) $734,136 (24.5%) 0.90 1,717
    2021-05-01 $360,000 (12.8%) $748,896 (25.9%) 0.96 1,731
    2021-06-01 $362,450 (13.3%) $743,815 (18.3%) 0.95 1,860
    2021-07-01 $359,450 (12.6%) $692,768 (8.5%) 0.95 2,025
    2021-08-01 $372,450 (16.8%) $704,241 (13.1%) 0.99 2,166
    2021-09-01 $379,725 (16.1%) $698,402 (11.4%) 1.01 2,197
    2021-10-01 $399,000 (21.3%) $729,286 (15.5%) 1.06 2,072
    2021-11-01 $389,950 (20.0%) $739,947 (16.5%) 1.04 1,913
    2021-12-01 $399,000 (25.3%) $747,873 (19.9%) 1.08 1,750
    2022-01-01 $399,000 (28.4%) $760,841 (22.5%) 1.08 1,480
    2022-02-01 $399,000 (28.1%) $796,817 (21.2%) 1.04 1,331
    2022-03-01 $409,950 (27.1%) $819,378 (19.8%) 1.03 1,325
    2022-04-01 $429,000 (29.1%) $881,237 (20.0%) 1.02 1,388
    2022-05-01 $464,500 (29.0%) $915,676 (22.3%) 1.06 1,582
    2022-06-01 $454,500 (25.4%) $908,215 (22.1%) 1.01 1,742
    2022-07-01 $449,900 (25.2%) $873,844 (26.1%) 1.01 1,982
    2022-08-01 $451,000 (21.1%) $904,382 (28.4%) 1.04 1,982
    2022-09-01 $464,917 (22.4%) $903,786 (29.4%) 1.09 1,932
    2022-10-01 $485,000 (21.6%) $925,660 (26.9%) 1.14 1,954
    2022-11-01 $475,000 (21.8%) $946,678 (27.9%) 1.14 1,944
    2022-12-01 $479,000 (20.1%) $946,728 (26.6%) 1.18 1,753
    2023-01-01 $484,900 (21.5%) $987,878 (29.8%) 1.20 1,625
    2023-02-01 $497,000 (24.6%) $1,023,138 (28.4%) 1.20 1,574
    2023-03-01 $495,500 (20.9%) $1,041,734 (27.1%) 1.17 1,544
    2023-04-01 $559,900 (30.5%) $1,083,979 (23.0%) 1.30 1,482
    2023-05-01 $597,000 (28.5%) $1,119,858 (22.3%) 1.35 1,444
    2023-06-01 $579,370 (27.5%) $1,166,607 (28.5%) 1.30 1,471
    2023-07-01 $595,000 (32.3%) $1,177,180 (34.7%) 1.35 1,483
    2023-08-01 $584,450 (29.6%) $1,179,710 (30.4%) 1.34 1,466
    2023-09-01 $599,900 (29.0%) $1,173,587 (29.9%) 1.40 1,526
    2023-10-01 $600,000 (23.7%) $1,127,503 (21.8%) 1.41 1,609
    2023-11-01 $596,074 (25.5%) $1,102,414 (16.5%) 1.42 1,667
    2023-12-01 $599,000 (25.1%) $1,107,741 (17.0%) 1.46 1,623
    2024-01-01 $574,950 (18.6%) $1,096,351 (11.0%) 1.40 1,522
    2024-02-01 $571,050 (14.9%) $1,105,063 (8.0%) 1.37 1,571
    2024-03-01 $580,000 (17.1%) $1,146,376 (10.0%) 1.37 1,644
    2024-04-01 $580,997 (3.8%) $1,182,456 (9.1%) 1.35 1,682
    2024-05-01 $599,000 (0.3%) $1,188,449 (6.1%) 1.36 1,704
    2024-06-01 $599,000 (3.4%) $1,197,615 (2.7%) 1.36 1,772
    2024-07-01 $592,500 (-0.4%) $1,218,875 (3.5%) 1.36 1,783
    2024-08-01 $579,500 (-0.9%) $1,218,013 (3.3%) 1.35 1,780
    2024-09-01 $579,998 (-3.3%) $1,188,145 (1.2%) 1.36 1,905
    2024-10-01 $550,000 (-8.3%) $1,151,869 (2.2%) 1.29 1,950
    2024-11-01 $559,900 (-6.1%) $1,158,601 (5.1%) 1.34 1,887
    2024-12-01 $554,950 (-7.4%) $1,130,166 (2.0%) 1.38 1,756
    2025-01-01 $549,475 (-4.4%) $1,076,592 (-1.8%) 1.37 1,647
    2025-02-01 $549,500 (-3.8%) $1,073,663 (-2.8%) 1.33 1,737
    2025-03-01 $550,000 (-5.2%) $1,092,449 (-4.7%) 1.29 1,905
    2025-04-01 $571,950 (-1.6%) $1,131,509 (-4.3%) 1.33 2,010
    Atlantic City's median listing price for 2025-04-01 was $571,950, a difference of $-9,047 (-1.6%) versus the prior year and $21,950 versus the prior month.

    Atlantic City's median listing price comes in at 133% of the national average.

    Atlantic City's average listing price for 2025-04-01 was $1,131,509, a difference of $-50,947 (-4.3%) versus the prior year and $39,060 versus the prior month.

    For the 2025-04-01 period, Atlantic City had 2,010 MLS listings, a difference of 105 listings (6%) versus the prior month and 328 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Atlantic City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 101 days 1,645 sqft
    2018-02-01 95 days 1,644 sqft
    2018-03-01 76 days 1,639 sqft
    2018-04-01 74 days 1,664 sqft
    2018-05-01 75 days 1,662 sqft
    2018-06-01 78 days 1,688 sqft
    2018-07-01 81 days 1,688 sqft
    2018-08-01 82 days 1,693 sqft
    2018-09-01 79 days 1,684 sqft
    2018-10-01 78 days 1,679 sqft
    2018-11-01 79 days 1,636 sqft
    2018-12-01 90 days 1,616 sqft
    2019-01-01 98 days 1,626 sqft
    2019-02-01 91 days 1,600 sqft
    2019-03-01 79 days 1,603 sqft
    2019-04-01 71 days 1,609 sqft
    2019-05-01 73 days 1,623 sqft
    2019-06-01 75 days 1,650 sqft
    2019-07-01 80 days 1,684 sqft
    2019-08-01 80 days 1,686 sqft
    2019-09-01 78 days 1,689 sqft
    2019-10-01 77 days 1,690 sqft
    2019-11-01 81 days 1,690 sqft
    2019-12-01 92 days 1,666 sqft
    2020-01-01 97 days 1,646 sqft
    2020-02-01 89 days 1,655 sqft
    2020-03-01 70 days 1,687 sqft
    2020-04-01 79 days 1,685 sqft
    2020-05-01 93 days 1,700 sqft
    2020-06-01 102 days 1,700 sqft
    2020-07-01 78 days 1,700 sqft
    2020-08-01 56 days 1,664 sqft
    2020-09-01 48 days 1,608 sqft
    2020-10-01 50 days 1,600 sqft
    2020-11-01 59 days 1,598 sqft
    2020-12-01 70 days 1,583 sqft
    2021-01-01 78 days 1,560 sqft
    2021-02-01 67 days 1,537 sqft
    2021-03-01 53 days 1,508 sqft
    2021-04-01 47 days 1,516 sqft
    2021-05-01 46 days 1,584 sqft
    2021-06-01 45 days 1,574 sqft
    2021-07-01 44 days 1,576 sqft
    2021-08-01 46 days 1,589 sqft
    2021-09-01 53 days 1,570 sqft
    2021-10-01 57 days 1,570 sqft
    2021-11-01 60 days 1,581 sqft
    2021-12-01 69 days 1,594 sqft
    2022-01-01 79 days 1,590 sqft
    2022-02-01 69 days 1,555 sqft
    2022-03-01 45 days 1,572 sqft
    2022-04-01 41 days 1,600 sqft
    2022-05-01 40 days 1,655 sqft
    2022-06-01 43 days 1,640 sqft
    2022-07-01 45 days 1,620 sqft
    2022-08-01 56 days 1,601 sqft
    2022-09-01 65 days 1,629 sqft
    2022-10-01 62 days 1,653 sqft
    2022-11-01 66 days 1,631 sqft
    2022-12-01 79 days 1,625 sqft
    2023-01-01 84 days 1,624 sqft
    2023-02-01 78 days 1,658 sqft
    2023-03-01 59 days 1,669 sqft
    2023-04-01 56 days 1,697 sqft
    2023-05-01 54 days 1,710 sqft
    2023-06-01 51 days 1,701 sqft
    2023-07-01 51 days 1,700 sqft
    2023-08-01 54 days 1,719 sqft
    2023-09-01 53 days 1,664 sqft
    2023-10-01 51 days 1,665 sqft
    2023-11-01 54 days 1,620 sqft
    2023-12-01 64 days 1,618 sqft
    2024-01-01 74 days 1,604 sqft
    2024-02-01 66 days 1,611 sqft
    2024-03-01 53 days 1,600 sqft
    2024-04-01 56 days 1,622 sqft
    2024-05-01 55 days 1,650 sqft
    2024-06-01 56 days 1,656 sqft
    2024-07-01 57 days 1,660 sqft
    2024-08-01 54 days 1,620 sqft
    2024-09-01 54 days 1,615 sqft
    2024-10-01 55 days 1,612 sqft
    2024-11-01 64 days 1,575 sqft
    2024-12-01 72 days 1,545 sqft
    2025-01-01 78 days 1,541 sqft
    2025-02-01 65 days 1,600 sqft
    2025-03-01 49 days 1,596 sqft
    2025-04-01 51 days 1,570 sqft
    Atlantic City's median listing age (time on market) for 2025-04-01 was 51 days. This is -8% shorter than the same period one year ago.

    Atlantic City's median square footage for active listings during the 2025-04-01 period was 1,570 sqft. One year prior, the average listing was 1,622 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).