Canton FHA Loan Rates, Closing Costs & Stats

CANTON-MASSILLON, OH

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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.

    Canton's 99 lenders originated 1,239 FHA loans during 2024. The total origination value was $237,725,000, with an average FHA loan value of $191,868.

    Canton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Canton averaged 6.5% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Canton's average FHA mortgage closing costs are $6,658.

    The average rate for the prior week (2025-03-28) was 6.79% and one month ago for the week of 2025-02-28, the average rate was 6.88%.

    The average rate one year ago was 6.9%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.64%.

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

    Canton 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 Canton level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    CROSSCOUNTRY MORTGAGE, LLC 190 6.78% $10,079
    QUICKEN LOANS, LLC 176 6.44% $9,056
    The Huntington National Bank 75 6.72% $7,736
    POLARIS HOME FUNDING CORP. 75 6.63% $10,311
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 42 6.78% $6,648
    GVC MORTGAGE, INC. 30 6.82% $8,258
    UNITED WHOLESALE MORTGAGE, LLC 27 6.24% $10,981
    Nations Lending Corporation 25 6.90% $7,371
    GUARANTEED RATE, INC. 22 6.41% $8,493
    MYCUMORTGAGE, LLC 22 6.77% $7,124
    MUTUAL OF OMAHA MORTGAGE, INC. 21 6.59% $10,164
    NVR Mortgage Finance, Inc. 19 6.45% $9,604
    UNION HOME MORTGAGE CORP. 18 6.88% $10,684
    FREEDOM MORTGAGE CORPORATION 16 6.65% $9,024
    Citizens Bank 16 6.31% $7,101
    PENNYMAC LOAN SERVICES, LLC 15 6.31% $6,498
    NEWREZ LLC 14 6.49% $8,094
    Flagstar Bank, FSB 14 6.81% $8,853
    LOANDEPOT.COM, LLC 12 6.60% $9,554
    RUOFF MORTGAGE COMPANY, INC. 12 6.56% $8,039
    Fifth Third Bank 11 6.55% $7,571
    NFM, INC. 11 7.31% $11,286
    LIBERTY HOME MORTGAGE CORPORATION 9 6.85% $8,726
    BROKER SOLUTIONS, INC. 9 6.82% $11,052
    S1L, Inc. 9 6.58% $8,813
    AmeriHome Mortgage Company, LLC 9 6.71% $5,388
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 9 5.89% $11,093
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 6.53% $8,135
    Ixonia Bank 6 6.88% $9,211
    First Commonwealth Bank 6 6.15% $7,278
    AMERICAN FINANCIAL NETWORK, INC. 5 7.03% $8,608
    Republic State Mortgage Co. 5 6.95% $6,205
    HOWARD HANNA FINANCIAL SERVICES, INC. 5 6.55% $7,388
    AMERISAVE MORTGAGE CORPORATION 5 6.50% $9,710
    LAKEVIEW LOAN SERVICING, LLC 5 6.45% $8,881
    Mr. Cooper ( Nationstar Mortgage ) 5 6.65% $10,898
    GENEVA FINANCIAL, LLC 5 6.83% $9,917
    HOMESIDE FINANCIAL, LLC 5 6.47% $11,157
    PLANET HOME LENDING, LLC 5 6.22% $5,451
    Equity Prime Mortgage LLC 4 7.28% $10,127
    VILLAGE CAPITAL MORTGAGE 4 6.72% $2,455
    CARDINAL FINANCIAL 4 6.53% $8,870
    RELIANCE FIRST CAPITAL, LLC 4 6.84% $7,446
    MID AMERICA MORTGAGE, INC. 4 6.63% $6,385
    PNC Bank 4 6.94% $5,163
    Mortgage Research Center, LLC 3 7.08% $5,014
    Carrington Mortgage Services, LLC 3 6.17% $9,999
    ROYAL UNITED MORTGAGE LLC 3 6.54% $10,324
    U.S. Bank 3 6.63% $6,686
    KeyBank 3 6.33% $6,703
    LOANPAL, LLC 3 5.17% $12,075
    DEVELOPER'S MORTGAGE COMPANY 3 7.13% $7,047
    SUN WEST MORTGAGE COMPANY, INC. 3 5.92% $13,120
    AMERICAN FINANCING CORPORATION 3 6.29% $10,287
    ABSOLUTE HOME MORTGAGE CORPORATION 2 7.25% $7,177
    AFFORDABLE MORTGAGE ADVISORS, LLC. 2 6.63% $7,205
    AMERICAN FINANCIAL RESOURCES, INC. 2 7.50% $10,905
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 5.81% $18,448
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.62% $9,225
    BETTER MORTGAGE CORPORATION 2 6.31% $12,932
    Cf Bank 2 6.62% $4,831
    CMG MORTGAGE, INC. 2 5.75% $18,597
    ENDEAVOR CAPITAL, LLC. 2 5.94% $7,922
    EQUITY RESOURCES, INC. 2 7.00% $5,195
    GUARANTEED RATE AFFINITY, LLC 2 7.13% $11,387
    JPMorgan Chase Bank 2 6.19% $5,867
    LEADERONE FINANCIAL CORPORATION 2 6.69% $10,073
    MICHIGAN MUTUAL, INC. 2 6.25% $7,585
    Paramount Residential Mortgage Group, Inc. 2 7.13% $9,664
    Union Savings Bank 2 7.00% $6,324
    OCEANSIDE MORTGAGE COMPANY 1 6.50% $4,939
    YOUR HOME FINANCIAL LLC 1 7.13% $7,523
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.50% $8,830
    PHH Mortgage Corporation 1 7.63% $11,422
    MILEND, INC. 1 7.13% $7,705
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $4,816
    GUILD MORTGAGE COMPANY 1 7.00% $6,285
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.25% $9,793
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.75% $7,485
    Prosperity Home Mortgage, LLC 1 4.88% $14,899
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.50% $16,097
    Gateway First Bank 1 7.25% $6,378
    First Federal Bank 1 6.38% $13,689
    FIRST COMMUNITY MORTGAGE, INC. 1 7.25% $10,556
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.50% $7,231
    Dollar Bank, Federal Savings Bank 1 6.75% $7,357
    Civista Bank 1 6.13% $6,704
    The Farmers National Bank of Canfield 1 5.75% $9,295
    CHURCHILL MORTGAGE CORPORATION 1 8.25% $7,827
    The Loan Store, Inc. 1 6.49% $6,675
    TOWNE MORTGAGE COMPANY 1 6.25% $12,518
    CALCON MUTUAL MORTGAGE LLC 1 6.00% $12,759
    ZILLOW HOME LOANS, LLC 1 6.75% $7,131
    BAY EQUITY LLC 1 6.63% $8,456
    Bank of England 1 5.75% $6,789
    VERITAS FUNDING, LLC 1 6.63% $14,384
    ALLIED MORTGAGE GROUP, INC. 1 6.25% $9,396
    NORTHERN MORTGAGE SERVICES, LLC 1 6.75% $3,902
    MOVEMENT MORTGAGE, LLC 1 6.25% $4,796

    The top Canton FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 190 FHA loans originated. Their average total fees are $10,079, which is $1,023 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Canton FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC ($6,498), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,648), Citizens Bank ($7,101), MYCUMORTGAGE, LLC ($7,124) and Nations Lending Corporation ($7,371).

    The lowest rate Canton FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.24%), PENNYMAC LOAN SERVICES, LLC (6.31%), Citizens Bank (6.31%), GUARANTEED RATE, INC. (6.41%) and QUICKEN LOANS, LLC (6.44%).

    Canton FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CANTON-MASSILLON, OH CARROLL 2022 $420,680 $538,650 $651,050 $809,150
    CANTON-MASSILLON, OH STARK 2022 $420,680 $538,650 $651,050 $809,150
    CANTON-MASSILLON, OH CARROLL 2023 $472,030 $604,400 $730,525 $907,900
    CANTON-MASSILLON, OH STARK 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Canton (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 $132,950 (6.4%) $182,741 (2.2%) 0.49 917
    2018-02-01 $130,900 (3.5%) $186,540 (-0.7%) 0.48 878
    2018-03-01 $139,700 (5.5%) $196,851 (2.9%) 0.49 846
    2018-04-01 $143,700 (10.6%) $204,708 (8.8%) 0.49 820
    2018-05-01 $153,700 (12.4%) $206,396 (4.0%) 0.51 830
    2018-06-01 $154,900 (6.9%) $207,674 (1.7%) 0.52 909
    2018-07-01 $155,450 (11.1%) $212,308 (6.9%) 0.52 953
    2018-08-01 $159,450 (13.9%) $211,786 (7.1%) 0.53 1,036
    2018-09-01 $158,900 (13.5%) $211,904 (10.8%) 0.53 1,077
    2018-10-01 $149,950 (8.5%) $208,891 (11.9%) 0.51 1,078
    2018-11-01 $145,075 (4.2%) $205,543 (10.4%) 0.49 1,066
    2018-12-01 $141,950 (5.2%) $203,771 (10.1%) 0.49 991
    2019-01-01 $144,675 (8.8%) $203,761 (11.5%) 0.50 882
    2019-02-01 $144,625 (10.5%) $205,784 (10.3%) 0.49 855
    2019-03-01 $156,671 (12.2%) $219,903 (11.7%) 0.51 784
    2019-04-01 $168,246 (17.1%) $231,657 (13.2%) 0.53 763
    2019-05-01 $166,575 (8.4%) $223,472 (8.3%) 0.52 810
    2019-06-01 $165,900 (7.1%) $222,821 (7.3%) 0.52 851
    2019-07-01 $160,995 (3.6%) $215,262 (1.4%) 0.50 934
    2019-08-01 $161,329 (1.2%) $212,870 (0.5%) 0.51 991
    2019-09-01 $163,338 (2.8%) $210,083 (-0.9%) 0.52 1,038
    2019-10-01 $164,677 (9.8%) $207,246 (-0.8%) 0.53 1,076
    2019-11-01 $159,900 (10.2%) $206,554 (0.5%) 0.52 1,049
    2019-12-01 $159,900 (12.7%) $203,729 (0.0%) 0.53 940
    2020-01-01 $159,788 (10.5%) $204,521 (0.4%) 0.53 844
    2020-02-01 $167,000 (15.5%) $214,515 (4.2%) 0.55 770
    2020-03-01 $169,900 (8.4%) $220,107 (0.1%) 0.53 698
    2020-04-01 $182,400 (8.4%) $227,691 (-1.7%) 0.57 686
    2020-05-01 $182,301 (9.4%) $238,206 (6.6%) 0.55 639
    2020-06-01 $189,900 (14.5%) $244,507 (9.7%) 0.56 554
    2020-07-01 $188,348 (17.0%) $241,240 (12.1%) 0.55 547
    2020-08-01 $180,500 (11.9%) $234,864 (10.3%) 0.52 537
    2020-09-01 $176,200 (7.9%) $235,645 (12.2%) 0.50 519
    2020-10-01 $164,900 (0.1%) $234,465 (13.1%) 0.47 547
    2020-11-01 $157,075 (-1.8%) $246,900 (19.5%) 0.46 508
    2020-12-01 $160,000 (0.1%) $243,732 (19.6%) 0.48 495
    2021-01-01 $163,450 (2.3%) $253,471 (23.9%) 0.49 422
    2021-02-01 $169,400 (1.4%) $264,160 (23.1%) 0.49 317
    2021-03-01 $179,900 (5.9%) $271,325 (23.3%) 0.51 303
    2021-04-01 $179,900 (-1.4%) $268,776 (18.0%) 0.49 296
    2021-05-01 $184,900 (1.4%) $260,181 (9.2%) 0.49 362
    2021-06-01 $193,200 (1.7%) $254,045 (3.9%) 0.51 421
    2021-07-01 $195,000 (3.5%) $254,465 (5.5%) 0.51 484
    2021-08-01 $184,900 (2.4%) $245,889 (4.7%) 0.49 485
    2021-09-01 $194,675 (10.5%) $245,813 (4.3%) 0.52 520
    2021-10-01 $179,950 (9.1%) $237,795 (1.4%) 0.48 538
    2021-11-01 $175,000 (11.4%) $236,655 (-4.2%) 0.47 463
    2021-12-01 $168,175 (5.1%) $224,813 (-7.8%) 0.46 409
    2022-01-01 $172,900 (5.8%) $235,429 (-7.1%) 0.47 320
    2022-02-01 $172,175 (1.6%) $228,472 (-13.5%) 0.45 282
    2022-03-01 $170,000 (-5.5%) $226,470 (-16.5%) 0.43 265
    2022-04-01 $174,900 (-2.8%) $250,962 (-6.6%) 0.42 261
    2022-05-01 $186,150 (0.7%) $253,574 (-2.5%) 0.43 358
    2022-06-01 $174,475 (-9.7%) $246,952 (-2.8%) 0.39 424
    2022-07-01 $199,000 (2.1%) $256,676 (0.9%) 0.45 533
    2022-08-01 $194,725 (5.3%) $261,375 (6.3%) 0.45 573
    2022-09-01 $192,200 (-1.3%) $259,586 (5.6%) 0.45 555
    2022-10-01 $180,000 (0.0%) $260,421 (9.5%) 0.42 545
    2022-11-01 $187,225 (7.0%) $270,119 (14.1%) 0.45 558
    2022-12-01 $190,000 (13.0%) $273,429 (21.6%) 0.47 489
    2023-01-01 $181,950 (5.2%) $271,672 (15.4%) 0.45 409
    2023-02-01 $187,000 (8.6%) $274,865 (20.3%) 0.45 365
    2023-03-01 $203,338 (19.6%) $268,380 (18.5%) 0.48 356
    2023-04-01 $216,000 (23.5%) $291,318 (16.1%) 0.50 360
    2023-05-01 $217,600 (16.9%) $282,653 (11.5%) 0.49 334
    2023-06-01 $222,400 (27.5%) $285,107 (15.5%) 0.50 383
    2023-07-01 $229,950 (15.6%) $290,781 (13.3%) 0.52 418
    2023-08-01 $249,000 (27.9%) $300,409 (14.9%) 0.57 439
    2023-09-01 $235,450 (22.5%) $293,777 (13.2%) 0.55 473
    2023-10-01 $241,500 (34.2%) $293,805 (12.8%) 0.57 519
    2023-11-01 $234,950 (25.5%) $288,304 (6.7%) 0.56 566
    2023-12-01 $230,000 (21.1%) $283,757 (3.8%) 0.56 548
    2024-01-01 $237,450 (30.5%) $295,103 (8.6%) 0.58 436
    2024-02-01 $242,425 (29.6%) $292,222 (6.3%) 0.58 397
    2024-03-01 $240,000 (18.0%) $305,033 (13.7%) 0.56 345
    2024-04-01 $249,945 (15.7%) $315,444 (8.3%) 0.58 330
    2024-05-01 $262,200 (20.5%) $326,183 (15.4%) 0.60 344
    2024-06-01 $249,900 (12.4%) $301,566 (5.8%) 0.57 405
    2024-07-01 $260,725 (13.4%) $317,122 (9.1%) 0.60 465
    2024-08-01 $264,000 (6.0%) $314,932 (4.8%) 0.61 509
    2024-09-01 $259,450 (10.2%) $300,952 (2.4%) 0.61 521
    2024-10-01 $252,445 (4.5%) $301,009 (2.5%) 0.59 559
    2024-11-01 $246,000 (4.7%) $300,042 (4.1%) 0.59 577
    2024-12-01 $239,900 (4.3%) $287,199 (1.2%) 0.60 543
    2025-01-01 $237,075 (-0.2%) $285,620 (-3.2%) 0.59 472
    2025-02-01 $231,200 (-4.6%) $278,120 (-4.8%) 0.56 460
    2025-03-01 $239,900 (0.0%) $281,914 (-7.6%) 0.00 451
    Canton's median listing price for 2025-03-01 was $239,900, a difference of $-100 (0.0%) versus the prior year and $8,700 versus the prior month.

    Canton's median listing price comes in at 0% of the national average.

    Canton's average listing price for 2025-03-01 was $281,914, a difference of $-23,119 (-7.6%) versus the prior year and $3,794 versus the prior month.

    For the 2025-03-01 period, Canton had 451 MLS listings, a difference of -9 listings (-2%) versus the prior month and 106 listings (31%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Canton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 64 days 1,584 sqft
    2018-02-01 59 days 1,571 sqft
    2018-03-01 47 days 1,620 sqft
    2018-04-01 42 days 1,655 sqft
    2018-05-01 41 days 1,681 sqft
    2018-06-01 40 days 1,718 sqft
    2018-07-01 41 days 1,806 sqft
    2018-08-01 40 days 1,818 sqft
    2018-09-01 43 days 1,802 sqft
    2018-10-01 48 days 1,772 sqft
    2018-11-01 47 days 1,731 sqft
    2018-12-01 58 days 1,720 sqft
    2019-01-01 65 days 1,715 sqft
    2019-02-01 49 days 1,731 sqft
    2019-03-01 43 days 1,759 sqft
    2019-04-01 37 days 1,800 sqft
    2019-05-01 36 days 1,696 sqft
    2019-06-01 39 days 1,716 sqft
    2019-07-01 41 days 1,698 sqft
    2019-08-01 40 days 1,718 sqft
    2019-09-01 39 days 1,754 sqft
    2019-10-01 39 days 1,772 sqft
    2019-11-01 48 days 1,728 sqft
    2019-12-01 59 days 1,718 sqft
    2020-01-01 66 days 1,717 sqft
    2020-02-01 47 days 1,756 sqft
    2020-03-01 51 days 1,780 sqft
    2020-04-01 48 days 1,785 sqft
    2020-05-01 57 days 1,765 sqft
    2020-06-01 47 days 1,821 sqft
    2020-07-01 40 days 1,806 sqft
    2020-08-01 42 days 1,761 sqft
    2020-09-01 44 days 1,741 sqft
    2020-10-01 40 days 1,716 sqft
    2020-11-01 49 days 1,680 sqft
    2020-12-01 52 days 1,689 sqft
    2021-01-01 58 days 1,685 sqft
    2021-02-01 53 days 1,675 sqft
    2021-03-01 38 days 1,713 sqft
    2021-04-01 32 days 1,738 sqft
    2021-05-01 27 days 1,720 sqft
    2021-06-01 24 days 1,763 sqft
    2021-07-01 26 days 1,767 sqft
    2021-08-01 32 days 1,699 sqft
    2021-09-01 32 days 1,702 sqft
    2021-10-01 33 days 1,682 sqft
    2021-11-01 40 days 1,659 sqft
    2021-12-01 44 days 1,630 sqft
    2022-01-01 48 days 1,600 sqft
    2022-02-01 42 days 1,617 sqft
    2022-03-01 30 days 1,618 sqft
    2022-04-01 29 days 1,664 sqft
    2022-05-01 24 days 1,694 sqft
    2022-06-01 29 days 1,592 sqft
    2022-07-01 29 days 1,680 sqft
    2022-08-01 33 days 1,645 sqft
    2022-09-01 36 days 1,635 sqft
    2022-10-01 37 days 1,600 sqft
    2022-11-01 40 days 1,645 sqft
    2022-12-01 47 days 1,612 sqft
    2023-01-01 59 days 1,593 sqft
    2023-02-01 48 days 1,565 sqft
    2023-03-01 34 days 1,615 sqft
    2023-04-01 35 days 1,668 sqft
    2023-05-01 35 days 1,698 sqft
    2023-06-01 33 days 1,727 sqft
    2023-07-01 34 days 1,728 sqft
    2023-08-01 36 days 1,751 sqft
    2023-09-01 36 days 1,696 sqft
    2023-10-01 33 days 1,669 sqft
    2023-11-01 36 days 1,653 sqft
    2023-12-01 45 days 1,646 sqft
    2024-01-01 56 days 1,655 sqft
    2024-02-01 42 days 1,619 sqft
    2024-03-01 40 days 1,632 sqft
    2024-04-01 33 days 1,737 sqft
    2024-05-01 25 days 1,791 sqft
    2024-06-01 29 days 1,776 sqft
    2024-07-01 30 days 1,807 sqft
    2024-08-01 31 days 1,820 sqft
    2024-09-01 32 days 1,822 sqft
    2024-10-01 33 days 1,802 sqft
    2024-11-01 35 days 1,788 sqft
    2024-12-01 43 days 1,721 sqft
    2025-01-01 52 days 1,721 sqft
    2025-02-01 39 days 1,663 sqft
    2025-03-01 0 days 1,725 sqft
    Canton's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Canton's median square footage for active listings during the 2025-03-01 period was 1,725 sqft. One year prior, the average listing was 1,632 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).