Bridgeport FHA Loan Rates, Closing Costs & Stats

BRIDGEPORT-STAMFORD-NORWALK, CT

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.

Bridgeport's 158 lenders originated 3,073 FHA loans during 2021. The total origination value was $1,073,435,000, with an average FHA loan value of $349,312.

Bridgeport FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Bridgeport averaged -0.14% for the week of 2022-11-25, compared to the national average (all FHA variants) of 0% for the same period.

Bridgeport's average FHA mortgage closing costs are $10,662.

The average rate for the prior week (2022-11-18) was 6.39% and one month ago for the week of 2022-10-21, the average rate was 6.8%.

The average rate one year ago was 3.37%.

For refis of the same type during the week of 2022-11-25, the average rate was -0.53%.

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

Bridgeport 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 Bridgeport level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 203 2.69% $8,772
TOTAL MORTGAGE SERVICES, LLC 184 3.28% $12,750
CALIBER HOME LOANS, INC. 144 2.75% $10,751
LOANDEPOT.COM, LLC 136 2.94% $13,311
HOMEBRIDGE FINANCIAL SERVICES, INC. 125 2.94% $12,107
FREEDOM MORTGAGE CORPORATION 104 2.75% $8,629
UNITED WHOLESALE MORTGAGE, LLC 102 2.67% $12,514
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 100 3.06% $11,017
LAKEVIEW LOAN SERVICING, LLC 88 2.90% $7,364
Mr. Cooper ( Nationstar Mortgage ) 72 3.07% $6,257
NEWREZ LLC 64 2.80% $10,136
CROSSCOUNTRY MORTGAGE, LLC 63 3.04% $13,415
Carrington Mortgage Services, LLC 50 3.24% $10,888
GUARANTEED RATE, INC. 47 2.83% $12,155
HOME POINT FINANCIAL CORPORATION 44 2.64% $11,648
MOVEMENT MORTGAGE, LLC 43 3.02% $9,725
PLAZA HOME MORTGAGE, INC. 43 3.09% $12,946
GUARANTEED RATE AFFINITY, LLC 41 3.08% $12,831
Lakeview Community Capital, LLC 37 2.91% $6,409
AMERICAN FINANCIAL NETWORK, INC. 37 3.04% $20,309
PRYSMA LENDING GROUP, LLC 36 2.93% $12,331
PRIMELENDING, A PLAINSCAPITAL COMPANY 36 3.15% $11,193
ENVOY MORTGAGE, LTD 35 2.98% $14,724
Citizens Bank 32 2.69% $12,068
CMG MORTGAGE, INC. 31 2.71% $12,565
FIRST WORLD MORTGAGE CORPORATION 31 2.96% $12,160
PENNYMAC LOAN SERVICES, LLC 30 2.96% $7,684
First Guaranty Mortgage Corporation 29 3.02% $12,324
NORWICH COMMERCIAL GROUP, INC. 26 3.25% $11,388
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 24 2.97% $13,706
NATIONWIDE MORTGAGE BANKERS, INC. 24 3.05% $16,169
AmeriHome Mortgage Company, LLC 22 2.76% $6,241
VILLAGE CAPITAL MORTGAGE 19 2.76% $2,596
Flagstar Bank, FSB 19 2.78% $10,853
WILLIAM RAVEIS MORTGAGE, LLC 19 2.55% $11,566
Evolve Bank & Trust 19 3.04% $10,777
UNITED NORTHERN MORTGAGE BANKERS LIMITED 18 2.92% $14,076
FINANCE OF AMERICA MORTGAGE LLC 17 2.84% $10,046
M&T Bank 16 2.69% $12,315
Prosperity Home Mortgage, LLC 16 2.95% $11,582
Bank of America 15 2.60% $8,439
InterContinental Capital Group, Inc 15 3.12% $12,618
BROKER SOLUTIONS, INC. 15 2.79% $10,638
AMERISAVE MORTGAGE CORPORATION 15 2.85% $10,668
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 14 2.96% $15,773
HOMESTEAD FUNDING CORP. 12 3.19% $9,597
PLANET HOME LENDING, LLC 12 2.71% $6,327
PRIMARY RESIDENTIAL MORTGAGE, INC. 11 3.48% $13,040
The Federal Savings Bank 11 2.59% $12,023
Newtown Savings Bank 11 2.73% $10,112
Magnolia Bank 11 2.82% $13,906
SUN WEST MORTGAGE COMPANY, INC. 10 3.02% $15,132
Paramount Residential Mortgage Group, Inc. 10 2.99% $12,868
JET DIRECT FUNDING CORP 10 3.10% $18,878
UNITED MORTGAGE CORP. 10 3.18% $13,531
Bank of England 9 3.03% $13,174
Savings Bank of Danbury 9 2.93% $11,748
RELIANCE FIRST CAPITAL, LLC 9 3.21% $11,152
PROVINCE MORTGAGE ASSOCIATES, INC. 9 2.82% $11,326
Equity Prime Mortgage LLC 9 3.03% $15,481
HOMESIDE FINANCIAL, LLC 8 3.20% $11,401
PANORAMA MORTGAGE GROUP, LLC 8 3.34% $13,360
ARC HOME LLC 8 2.70% $12,025
Northpointe Bank 7 3.02% $11,807
EQUITY RESOURCES, INC. 7 3.02% $10,937
CONTOUR MORTGAGE CORPORATION 7 2.50% $13,342
US MORTGAGE CORPORATION 6 3.08% $17,131
ROUNDPOINT MORTGAGE SERVICING CORPORATION 6 3.00% $10,501
JPMorgan Chase Bank 5 3.00% $7,090
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 3.15% $11,072
OCEANSIDE MORTGAGE COMPANY 5 2.75% $5,632
RESIDENTIAL HOME FUNDING CORP. 5 3.33% $13,716
KeyBank 5 2.88% $11,421
TBI MORTGAGE COMPANY 4 2.75% $14,017
Atlantic Home Loans, Inc. 4 3.00% $12,636
BAY EQUITY LLC 4 2.72% $11,522
FAMILY FIRST FUNDING LLC 4 3.41% $14,378
First Savings Bank 4 3.16% $19,670
FM Home Loans, LLC 4 2.81% $13,362
NJ LENDERS CORP. 4 2.88% $11,852
OCMBC, INC. 4 2.97% $10,920
Wells Fargo Bank 4 3.13% $10,500
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 3 3.00% $10,689
EMBRACE HOME LOANS, INC. 3 2.71% $11,275
MUTUAL OF OMAHA MORTGAGE, INC. 3 3.21% $9,739
TD Bank 3 2.71% $11,137
EVERETT FINANCIAL, INC. 3 3.79% $7,679
HARTFORD FUNDING, LTD. 3 3.08% $11,525
People's United Bank 3 2.83% $8,151
Union Savings Bank 3 2.75% $11,159
SOVEREIGN LENDING GROUP INCORPORATED 3 2.75% $11,388
KELLER MORTGAGE, LLC 3 2.67% $10,218
East Coast Capital Corp. 3 3.08% $17,886
LENDING CAPITAL GROUP Inc 2 2.75% $17,292
INLAND BANK & TRUST 2 3.19% $14,045
MID-ISLAND MORTGAGE CORP. 2 2.56% $16,208
Mortgage Network, Inc. 2 2.88% $12,454
Mortgage Unlimited, L.L.C. 2 2.94% $13,441
Hometown Equity Mortgage, LLC 2 2.81% $14,569
NATIONS DIRECT MORTGAGE, LLC 2 3.38% $25,472
NFM, INC. 2 3.00% $13,616
GENEVA FINANCIAL, LLC 2 2.63% $13,082
First Federal Bank 2 2.69% $9,728
PARKSIDE LENDING, LLC 2 2.50% $12,506
PHH Mortgage Corporation 2 3.00% $7,440
Plains Commerce Bank 2 2.94% $17,520
EMM LOANS LLC 2 2.81% $11,138
CLIFFCO, INC. 2 2.88% $14,088
Sierra Pacific Mortgage Company, Inc. 2 2.75% $12,705
STEARNS LENDING, LLC 2 2.75% $12,463
ABSOLUTE HOME MORTGAGE CORPORATION 2 3.06% $10,263
ASSOCIATED MORTGAGE BANKERS, INC. 2 3.13% $17,658
U.S. Bank 2 2.69% $12,246
ALLIED MORTGAGE GROUP, INC. 2 3.50% $10,642
ZILLOW HOME LOANS, LLC 2 2.31% $9,701
Low VA Rates, LLC 1 2.75% $3,427
Nations Lending Corporation 1 3.25% $25,922
AMERICAN FINANCIAL RESOURCES, INC. 1 2.63% $9,713
Home Loan Investment Bank, F.S.B. 1 2.63% $12,815
Hometown Lenders, Inc. 1 4.25% $16,621
Valley National Bank 1 3.25% $11,425
Citibank 1 2.75% $13,175
Century Mortgage Company DBA Century Lending Company 1 3.00% $10,097
Blue Ridge Bank 1 3.25% $11,566
BETTER MORTGAGE CORPORATION 1 2.50% $10,627
Bethpage Federal Credit Union 1 2.75% $4,425
RESIDENTIAL MORTGAGE SERVICES, INC. 1 3.00% $10,982
Residential Mortgage Solutions, Inc. 1 2.75% $13,245
BAYSHORE MORTGAGE FUNDING, LLC 1 2.50% $12,618
S1L, Inc. 1 3.25% $8,962
Santander Bank, N.A. 1 2.75% $11,008
BAYCOAST MORTGAGE COMPANY, LLC 1 2.75% $6,652
LEADERONE FINANCIAL CORPORATION 1 2.63% $7,872
Mortgage Research Center, LLC 1 2.99% $11,281
Webster Bank 1 3.00% $7,924
Strong Home Mortgage, LLC 1 2.25% $14,078
SUCCESS MORTGAGE PARTNERS, INC. 1 2.63% $6,938
Barrington Bank & Trust Company, N.A. 1 2.88% $10,715
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 3.50% $12,803
MORTGAGE ACCESS CORP. 1 2.75% $11,938
BANKSOUTH MORTGAGE COMPANY, LLC 1 3.63% $10,530
Thomaston Savings Bank 1 2.88% $9,820
Willamette Valley Bank 1 3.25% $13,482
GUILD MORTGAGE COMPANY 1 3.13% $8,477
GuardHill Financial Corp. 1 3.75% $15,740
TOWNE MORTGAGE COMPANY 1 2.75% $8,151
A&D Mortgage LLC 1 3.00% $15,654
GUARANTY HOME MORTGAGE CORPORATION 1 3.63% $7,471
NORTHPOINT MORTGAGE, INC. 1 3.00% $9,169
GREENWAY MORTGAGE FUNDING CORP. 1 3.25% $11,688
INTERSTATE HOME LOAN CENTER, INC. 1 3.00% $16,856
Wyndham Capital Mortgage, Inc. 1 3.00% $8,287
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.75% $7,728
FirstBank 1 2.63% $8,272
Luxury Mortgage Corp. 1 2.75% $18,288
FIRST ALLIANCE HOME MORTGAGE, LLC 1 3.38% $14,756
NBKC BANK 1 2.75% $10,475
AMERICAN FINANCING CORPORATION 1 2.75% $11,757

The top Bridgeport FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 203 FHA loans originated. Their average total fees are $8,772, which is $3,977 lower than the next largest lender, TOTAL MORTGAGE SERVICES, LLC.

The lowest fee Bridgeport FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,596), AmeriHome Mortgage Company, LLC ($6,241), Mr. Cooper ( Nationstar Mortgage ) ($6,257), PLANET HOME LENDING, LLC ($6,327) and Lakeview Community Capital, LLC ($6,409).

The lowest rate Bridgeport FHA lenders (with over 10 loans originated) are WILLIAM RAVEIS MORTGAGE, LLC (2.55%), The Federal Savings Bank (2.59%), Bank of America (2.60%), HOME POINT FINANCIAL CORPORATION (2.64%) and UNITED WHOLESALE MORTGAGE, LLC (2.67%).

Bridgeport FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
BRIDGEPORT-STAMFORD-NORWALK, CT FAIRFIELD 2022 $695,750 $890,700 $1,076,650 $1,338,000

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Bridgeport (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 $699,500 (5.4%) $1,349,864 (-5.6%) 2.59 4,142
2018-02-01 $749,450 (5.3%) $1,388,677 (-4.9%) 2.72 4,424
2018-03-01 $779,000 (5.0%) $1,385,274 (-6.1%) 2.73 4,889
2018-04-01 $784,000 (4.7%) $1,376,353 (-6.2%) 2.66 5,456
2018-05-01 $792,125 (5.8%) $1,374,050 (-5.0%) 2.65 5,915
2018-06-01 $769,498 (2.7%) $1,345,218 (-6.7%) 2.57 6,266
2018-07-01 $748,900 (1.9%) $1,349,480 (-4.5%) 2.50 6,176
2018-08-01 $724,725 (3.5%) $1,327,277 (-3.6%) 2.43 5,984
2018-09-01 $725,000 (1.4%) $1,333,746 (-3.2%) 2.43 6,021
2018-10-01 $725,000 (0.9%) $1,338,247 (0.5%) 2.45 5,930
2018-11-01 $712,000 (1.8%) $1,350,522 (1.5%) 2.41 5,581
2018-12-01 $699,900 (0.1%) $1,380,555 (3.2%) 2.41 4,877
2019-01-01 $699,000 (-0.1%) $1,380,842 (2.3%) 2.41 4,403
2019-02-01 $729,450 (-2.7%) $1,387,117 (-0.1%) 2.46 4,655
2019-03-01 $746,714 (-4.1%) $1,389,262 (0.3%) 2.44 5,026
2019-04-01 $749,500 (-4.4%) $1,396,456 (1.5%) 2.38 5,402
2019-05-01 $749,450 (-5.4%) $1,378,618 (0.3%) 2.34 5,949
2019-06-01 $725,000 (-5.8%) $1,369,181 (1.8%) 2.27 6,220
2019-07-01 $704,450 (-5.9%) $1,338,492 (-0.8%) 2.21 6,128
2019-08-01 $695,182 (-4.1%) $1,327,864 (0.0%) 2.20 5,994
2019-09-01 $689,455 (-4.9%) $1,320,526 (-1.0%) 2.21 5,874
2019-10-01 $690,136 (-4.8%) $1,319,929 (-1.4%) 2.23 5,735
2019-11-01 $689,000 (-3.2%) $1,315,563 (-2.6%) 2.26 5,183
2019-12-01 $687,000 (-1.8%) $1,331,533 (-3.6%) 2.29 4,322
2020-01-01 $684,000 (-2.2%) $1,335,787 (-3.3%) 2.29 3,826
2020-02-01 $709,000 (-2.8%) $1,344,865 (-3.1%) 2.32 4,021
2020-03-01 $724,725 (-2.9%) $1,350,628 (-2.8%) 2.27 4,311
2020-04-01 $717,000 (-4.3%) $1,370,752 (-1.8%) 2.24 4,058
2020-05-01 $746,000 (-0.5%) $1,440,153 (4.5%) 2.27 3,991
2020-06-01 $799,425 (10.3%) $1,545,698 (12.9%) 2.35 3,992
2020-07-01 $807,000 (14.6%) $1,602,728 (19.7%) 2.34 3,876
2020-08-01 $799,000 (14.9%) $1,637,963 (23.4%) 2.29 3,633
2020-09-01 $799,000 (15.9%) $1,654,134 (25.3%) 2.29 3,432
2020-10-01 $797,000 (15.5%) $1,665,898 (26.2%) 2.28 3,345
2020-11-01 $772,500 (12.1%) $1,673,216 (27.2%) 2.26 2,941
2020-12-01 $795,000 (15.7%) $1,714,470 (28.8%) 2.36 2,546
2021-01-01 $809,950 (18.4%) $1,794,722 (34.4%) 2.42 2,103
2021-02-01 $869,500 (22.6%) $1,898,180 (41.1%) 2.53 1,871
2021-03-01 $856,375 (18.2%) $1,877,667 (39.0%) 2.43 1,895
2021-04-01 $837,000 (16.7%) $1,891,648 (38.0%) 2.27 2,042
2021-05-01 $871,500 (16.8%) $1,889,594 (31.2%) 2.31 2,262
2021-06-01 $828,500 (3.6%) $1,796,337 (16.2%) 2.18 2,482
2021-07-01 $750,000 (-7.1%) $1,656,580 (3.4%) 1.97 2,675
2021-08-01 $699,450 (-12.5%) $1,593,787 (-2.7%) 1.87 2,607
2021-09-01 $699,900 (-12.4%) $1,597,125 (-3.5%) 1.87 2,463
2021-10-01 $699,000 (-12.3%) $1,630,827 (-2.1%) 1.86 2,306
2021-11-01 $751,750 (-2.7%) $1,737,647 (3.9%) 2.01 1,919
2021-12-01 $744,500 (-6.4%) $1,800,551 (5.0%) 2.02 1,552
2022-01-01 $785,998 (-3.0%) $1,965,933 (9.5%) 2.12 1,256
2022-02-01 $865,749 (-0.4%) $2,261,492 (19.1%) 2.25 1,172
2022-03-01 $892,500 (4.2%) $2,239,500 (19.3%) 2.23 1,189
2022-04-01 $858,000 (2.5%) $2,153,346 (13.8%) 2.05 1,303
2022-05-01 $839,450 (-3.7%) $1,947,772 (3.1%) 1.92 1,701
2022-06-01 $832,000 (0.4%) $1,843,985 (2.7%) 1.85 1,928
2022-07-01 $821,950 (9.6%) $1,786,414 (7.8%) 1.86 2,101
2022-08-01 $804,725 (15.1%) $1,812,290 (13.7%) 1.86 1,985
2022-09-01 $777,500 (11.1%) $1,819,519 (13.9%) 1.82 1,971
2022-10-01 $799,000 (14.3%) $1,873,913 (14.9%) 1.88 1,930
Bridgeport's median listing price for 2022-10-01 was $799,000, a difference of $100,000 (14.3%) versus the prior year and $21,500 versus the prior month.

Bridgeport's median listing price comes in at 188% of the national average.

Bridgeport's average listing price for 2022-10-01 was $1,873,913, a difference of $243,086 (14.9%) versus the prior year and $54,394 versus the prior month.

For the 2022-10-01 period, Bridgeport had 1,930 MLS listings, a difference of -41 listings (-2%) versus the prior month and -376 listings (-16%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Bridgeport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 116 days 2,632 sqft
2018-02-01 107 days 2,718 sqft
2018-03-01 64 days 2,793 sqft
2018-04-01 60 days 2,796 sqft
2018-05-01 61 days 2,792 sqft
2018-06-01 66 days 2,736 sqft
2018-07-01 77 days 2,717 sqft
2018-08-01 90 days 2,680 sqft
2018-09-01 99 days 2,670 sqft
2018-10-01 100 days 2,699 sqft
2018-11-01 101 days 2,667 sqft
2018-12-01 105 days 2,666 sqft
2019-01-01 115 days 2,650 sqft
2019-02-01 108 days 2,716 sqft
2019-03-01 86 days 2,746 sqft
2019-04-01 60 days 2,794 sqft
2019-05-01 60 days 2,893 sqft
2019-06-01 67 days 2,995 sqft
2019-07-01 77 days 2,937 sqft
2019-08-01 86 days 2,912 sqft
2019-09-01 91 days 2,902 sqft
2019-10-01 96 days 2,898 sqft
2019-11-01 99 days 2,886 sqft
2019-12-01 105 days 2,837 sqft
2020-01-01 115 days 2,810 sqft
2020-02-01 106 days 2,849 sqft
2020-03-01 63 days 2,915 sqft
2020-04-01 74 days 2,885 sqft
2020-05-01 82 days 2,948 sqft
2020-06-01 63 days 3,057 sqft
2020-07-01 49 days 3,020 sqft
2020-08-01 53 days 2,938 sqft
2020-09-01 57 days 2,888 sqft
2020-10-01 53 days 2,829 sqft
2020-11-01 62 days 2,718 sqft
2020-12-01 73 days 2,636 sqft
2021-01-01 85 days 2,619 sqft
2021-02-01 74 days 2,712 sqft
2021-03-01 47 days 2,654 sqft
2021-04-01 35 days 2,662 sqft
2021-05-01 35 days 2,714 sqft
2021-06-01 36 days 2,599 sqft
2021-07-01 40 days 2,442 sqft
2021-08-01 49 days 2,186 sqft
2021-09-01 57 days 2,170 sqft
2021-10-01 57 days 2,158 sqft
2021-11-01 59 days 2,123 sqft
2021-12-01 74 days 2,074 sqft
2022-01-01 85 days 2,114 sqft
2022-02-01 58 days 2,309 sqft
2022-03-01 35 days 2,295 sqft
2022-04-01 24 days 2,258 sqft
2022-05-01 23 days 2,250 sqft
2022-06-01 30 days 2,312 sqft
2022-07-01 35 days 2,275 sqft
2022-08-01 47 days 2,427 sqft
2022-09-01 56 days 2,395 sqft
2022-10-01 58 days 2,437 sqft
Bridgeport's median listing age (time on market) for 2022-10-01 was 58 days. This is 2% longer than the same period one year ago.

Bridgeport's median square footage for active listings during the 2022-10-01 period was 2,437 sqft. One year prior, the average listing was 2,158 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).