College Station FHA Loan Rates, Closing Costs & Stats

COLLEGE STATION-BRYAN, TX

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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.

    College Station's 90 lenders originated 527 FHA loans during 2024. The total origination value was $148,335,000, with an average FHA loan value of $281,471.

    College Station FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in College Station averaged 6.67% for the week of 2025-07-11, compared to the national average (all FHA variants) of 6.523% for the same period.

    College Station's average FHA mortgage closing costs are $8,609.

    The average rate for the prior week (2025-07-04) was 6.51% and one month ago for the week of 2025-06-06, the average rate was 6.74%.

    The average rate one year ago was 6.77%.

    For refis of the same type during the week of 2025-07-11, the average rate was 6.54%.

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

    College Station 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 College Station level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 84 5.06% $9,156
    UNITED WHOLESALE MORTGAGE, LLC 48 6.03% $12,967
    NEW FED MORTGAGE, CORP. 29 6.43% $11,919
    PILGRIM MORTGAGE LLC 27 6.55% $12,358
    EAGLE HOME MORTGAGE, LLC 24 4.30% $9,233
    CMG MORTGAGE, INC. 23 6.28% $14,305
    INSPIRE HOME LOANS INC. 19 5.16% $9,839
    MOVEMENT MORTGAGE, LLC 15 6.27% $12,669
    First Financial Bank 15 6.33% $10,528
    QUICKEN LOANS, LLC 14 6.13% $12,332
    ADVISA MORTGAGE SERVICES, LTD. 12 6.07% $11,438
    Wallick & Volk, Inc. 12 6.38% $9,042
    City Bank 10 6.25% $10,489
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.75% $12,966
    Flagstar Bank, FSB 8 6.15% $9,890
    GARDNER FINANCIAL SERVICES, LTD. 6 6.60% $17,254
    CARDINAL FINANCIAL 6 6.33% $12,361
    FREEDOM MORTGAGE CORPORATION 6 6.25% $18,738
    The Loan Store, Inc. 5 6.15% $11,927
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.13% $8,644
    Paramount Residential Mortgage Group, Inc. 4 6.50% $11,496
    GUILD MORTGAGE COMPANY 4 6.31% $14,240
    SWBC MORTGAGE CORPORATION 4 6.78% $11,335
    Gateway First Bank 4 6.50% $13,472
    NEWREZ LLC 4 6.56% $8,612
    Equity Prime Mortgage LLC 3 6.88% $10,354
    HOMESIDE FINANCIAL, LLC 3 6.54% $13,022
    JPMorgan Chase Bank 3 6.00% $9,524
    MORTGAGE FINANCIAL SERVICES, LLC 3 6.29% $17,691
    COUNTRYPLACE MORTGAGE, LTD. 3 5.83% $11,705
    CROSSCOUNTRY MORTGAGE, LLC 3 6.17% $12,522
    PENNYMAC LOAN SERVICES, LLC 3 6.21% $12,282
    AmeriHome Mortgage Company, LLC 3 6.46% $8,163
    ZILLOW HOME LOANS, LLC 2 6.81% $9,166
    Amarillo National Bank 2 6.69% $8,273
    BROKER SOLUTIONS, INC. 2 6.69% $13,584
    CANOPY MORTGAGE, LLC 2 6.44% $10,549
    CHURCHILL MORTGAGE CORPORATION 2 6.56% $12,911
    CORNERSTONE HOME LENDING, INC. 2 7.19% $12,224
    First National Bank Texas 2 5.37% $12,032
    HOMETRUST MORTGAGE COMPANY 2 7.13% $12,712
    Mortgage Research Center, LLC 2 6.94% $7,353
    Network Funding, L.P. 2 6.44% $16,699
    PLAZA HOME MORTGAGE, INC. 2 6.94% $9,136
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.81% $9,532
    Lakeview Community Capital, LLC 1 6.75% $8,393
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $7,862
    LOANDEPOT.COM, LLC 1 6.75% $9,011
    LOANPEOPLE, LLC 1 6.63% $17,235
    Loan Simple, Inc. 1 7.00% $13,018
    GUARANTEED RATE, INC. 1 7.75% $8,257
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $9,125
    GENEVA FINANCIAL, LLC 1 7.63% $9,582
    Mr. Cooper ( Nationstar Mortgage ) 1 7.63% $11,685
    Nations Lending Corporation 1 7.25% $6,713
    NATIONS RELIABLE LENDING, LLC 1 6.63% $14,063
    V.I.P. MORTGAGE, INC. 1 7.13% $14,789
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.25% $13,344
    Citibank 1 6.63% $9,355
    NFM, INC. 1 7.13% $15,339
    OCEANSIDE MORTGAGE COMPANY 1 5.75% $4,680
    Century Mortgage Company DBA Century Lending Company 1 6.63% $12,837
    CALCON MUTUAL MORTGAGE LLC 1 6.63% $15,364
    PHH Mortgage Corporation 1 5.50% $8,400
    AXIA FINANCIAL, LLC 1 7.25% $8,874
    Plains Commerce Bank 1 7.50% $8,013
    PLANET HOME LENDING, LLC 1 5.63% $12,204
    AMERICAN FINANCIAL NETWORK, INC. 1 6.50% $12,245
    PNC Bank 1 6.38% $8,090
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $13,268
    Prosperity Bank 1 7.63% $7,232
    AMPLIFY 1 6.25% $8,536
    RB MORTGAGE LLC 1 5.75% $16,114
    Republic State Mortgage Co. 1 7.50% $6,152
    Residential Acceptance Corporation 1 8.00% $8,974
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.25% $11,809
    SFMC, LP 1 5.25% $17,443
    SOUTHWEST FUNDING, LP 1 7.38% $13,895
    AFFORDABLE MORTGAGE ADVISORS, LLC. 1 6.75% $12,134
    SUN WEST MORTGAGE COMPANY, INC. 1 6.25% $9,299
    American National Bank & Trust 1 6.25% $7,392
    T2 FINANCIAL LLC 1 7.25% $7,335
    The Federal Savings Bank 1 6.25% $14,692
    American Mortgage & Equity Consultants, Inc. 1 8.13% $22,720
    THE MONEY HOUSE INC. 1 6.00% $13,781
    TruHome Solutions, LLC 1 6.13% $10,166
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.13% $9,598
    INTELLILOAN, INC. 1 5.49% $6,805
    INTERLINC MORTGAGE SERVICES, LLC 1 6.75% $10,515
    Hamilton Mortgage Corporation 1 6.25% $12,982

    The top College Station FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 84 FHA loans originated. Their average total fees are $9,156, which is $3,811 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee College Station FHA lenders (with over 10 loans originated) are Wallick & Volk, Inc. ($9,042), DHI MORTGAGE COMPANY, LTD. ($9,156), EAGLE HOME MORTGAGE, LLC ($9,233), INSPIRE HOME LOANS INC. ($9,839) and City Bank ($10,489).

    The lowest rate College Station FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.30%), DHI MORTGAGE COMPANY, LTD. (5.06%), INSPIRE HOME LOANS INC. (5.16%), UNITED WHOLESALE MORTGAGE, LLC (6.03%) and ADVISA MORTGAGE SERVICES, LTD. (6.07%).

    College Station FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    COLLEGE STATION-BRYAN, TX BRAZOS 2022 $420,680 $538,650 $651,050 $809,150
    COLLEGE STATION-BRYAN, TX BURLESON 2022 $420,680 $538,650 $651,050 $809,150
    COLLEGE STATION-BRYAN, TX ROBERTSON 2022 $420,680 $538,650 $651,050 $809,150
    COLLEGE STATION-BRYAN, TX BRAZOS 2023 $472,030 $604,400 $730,525 $907,900
    COLLEGE STATION-BRYAN, TX BURLESON 2023 $472,030 $604,400 $730,525 $907,900
    COLLEGE STATION-BRYAN, TX ROBERTSON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - College Station (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 $288,250 (-6.0%) $390,378 (-0.9%) 1.07 901
    2018-02-01 $279,900 (-9.7%) $391,718 (-1.6%) 1.02 973
    2018-03-01 $275,900 (-14.1%) $387,148 (-8.1%) 0.97 1,026
    2018-04-01 $274,900 (-15.4%) $383,979 (-10.1%) 0.93 1,077
    2018-05-01 $269,950 (-17.9%) $381,726 (-10.7%) 0.90 1,135
    2018-06-01 $269,900 (-5.2%) $379,306 (5.6%) 0.90 1,134
    2018-07-01 $269,900 (-3.6%) $375,223 (3.5%) 0.90 1,179
    2018-08-01 $269,900 (-14.4%) $378,816 (-7.1%) 0.90 1,132
    2018-09-01 $270,000 (-12.9%) $386,067 (-2.5%) 0.91 1,096
    2018-10-01 $269,900 (-12.9%) $389,782 (-2.9%) 0.91 1,091
    2018-11-01 $269,450 (-13.1%) $392,603 (-3.2%) 0.91 1,080
    2018-12-01 $266,500 (-11.1%) $369,931 (-7.0%) 0.92 1,045
    2019-01-01 $262,400 (-9.0%) $364,833 (-6.5%) 0.91 1,031
    2019-02-01 $259,675 (-7.2%) $351,383 (-10.3%) 0.88 1,132
    2019-03-01 $259,186 (-6.1%) $351,003 (-9.3%) 0.85 1,197
    2019-04-01 $264,925 (-3.6%) $353,458 (-8.0%) 0.84 1,265
    2019-05-01 $269,900 (0.0%) $355,701 (-6.8%) 0.84 1,278
    2019-06-01 $269,000 (-0.3%) $353,273 (-6.9%) 0.84 1,279
    2019-07-01 $269,825 (0.0%) $345,760 (-7.9%) 0.84 1,305
    2019-08-01 $269,791 (0.0%) $346,199 (-8.6%) 0.85 1,288
    2019-09-01 $269,627 (-0.1%) $350,728 (-9.2%) 0.86 1,270
    2019-10-01 $269,718 (-0.1%) $353,057 (-9.4%) 0.87 1,253
    2019-11-01 $269,900 (0.2%) $356,228 (-9.3%) 0.88 1,190
    2019-12-01 $269,950 (1.3%) $358,107 (-3.2%) 0.90 1,127
    2020-01-01 $262,450 (0.0%) $357,157 (-2.1%) 0.88 1,088
    2020-02-01 $265,900 (2.4%) $371,509 (5.7%) 0.87 1,243
    2020-03-01 $266,725 (2.9%) $365,307 (4.1%) 0.84 1,344
    2020-04-01 $271,450 (2.5%) $366,305 (3.6%) 0.85 1,338
    2020-05-01 $273,500 (1.3%) $366,868 (3.1%) 0.83 1,295
    2020-06-01 $277,313 (3.1%) $371,189 (5.1%) 0.82 1,186
    2020-07-01 $266,450 (-1.3%) $368,061 (6.5%) 0.77 1,148
    2020-08-01 $262,500 (-2.7%) $370,834 (7.1%) 0.75 1,077
    2020-09-01 $252,450 (-6.4%) $371,992 (6.1%) 0.72 1,047
    2020-10-01 $249,900 (-7.4%) $369,951 (4.8%) 0.72 975
    2020-11-01 $247,100 (-8.5%) $377,607 (6.0%) 0.72 910
    2020-12-01 $238,450 (-11.7%) $332,118 (-7.3%) 0.71 831
    2021-01-01 $239,900 (-8.6%) $331,686 (-7.1%) 0.72 729
    2021-02-01 $242,425 (-8.8%) $341,743 (-8.0%) 0.71 665
    2021-03-01 $254,369 (-4.6%) $367,714 (0.7%) 0.72 639
    2021-04-01 $271,754 (0.1%) $380,767 (4.0%) 0.74 526
    2021-05-01 $305,000 (11.5%) $442,146 (20.5%) 0.81 397
    2021-06-01 $324,950 (17.2%) $460,156 (24.0%) 0.86 396
    2021-07-01 $327,000 (22.7%) $485,062 (31.8%) 0.86 405
    2021-08-01 $298,450 (13.7%) $429,776 (15.9%) 0.80 475
    2021-09-01 $295,501 (17.1%) $428,337 (15.2%) 0.79 458
    2021-10-01 $306,000 (22.5%) $418,092 (13.0%) 0.82 427
    2021-11-01 $292,225 (18.3%) $419,085 (11.0%) 0.78 373
    2021-12-01 $289,225 (21.3%) $427,052 (28.6%) 0.78 336
    2022-01-01 $284,900 (18.8%) $434,206 (30.9%) 0.77 309
    2022-02-01 $322,000 (32.8%) $490,068 (43.4%) 0.84 324
    2022-03-01 $321,725 (26.5%) $478,284 (30.1%) 0.81 320
    2022-04-01 $329,000 (21.1%) $466,292 (22.5%) 0.78 366
    2022-05-01 $348,975 (14.4%) $504,473 (14.1%) 0.80 423
    2022-06-01 $357,875 (10.1%) $504,765 (9.7%) 0.80 563
    2022-07-01 $343,500 (5.1%) $497,576 (2.6%) 0.77 606
    2022-08-01 $351,700 (17.8%) $500,314 (16.4%) 0.81 675
    2022-09-01 $355,654 (20.4%) $502,627 (17.3%) 0.83 687
    2022-10-01 $353,443 (15.5%) $512,248 (22.5%) 0.83 737
    2022-11-01 $364,825 (24.8%) $516,564 (23.3%) 0.88 696
    2022-12-01 $369,999 (27.9%) $522,765 (22.4%) 0.91 682
    2023-01-01 $367,450 (29.0%) $518,266 (19.4%) 0.91 648
    2023-02-01 $359,950 (11.8%) $504,354 (2.9%) 0.87 642
    2023-03-01 $379,725 (18.0%) $540,957 (13.1%) 0.90 606
    2023-04-01 $399,900 (21.6%) $557,611 (19.6%) 0.93 613
    2023-05-01 $399,900 (14.6%) $551,049 (9.2%) 0.91 634
    2023-06-01 $380,000 (6.2%) $529,649 (4.9%) 0.85 708
    2023-07-01 $370,200 (7.8%) $513,633 (3.2%) 0.84 751
    2023-08-01 $370,250 (5.3%) $509,980 (1.9%) 0.85 842
    2023-09-01 $369,950 (4.0%) $502,044 (-0.1%) 0.86 898
    2023-10-01 $365,312 (3.4%) $492,545 (-3.9%) 0.86 942
    2023-11-01 $365,000 (0.1%) $485,726 (-6.0%) 0.87 935
    2023-12-01 $364,900 (-1.4%) $489,688 (-6.3%) 0.89 882
    2024-01-01 $366,250 (-0.3%) $485,993 (-6.2%) 0.89 861
    2024-02-01 $364,900 (1.4%) $480,764 (-4.7%) 0.88 887
    2024-03-01 $365,000 (-3.9%) $492,782 (-8.9%) 0.86 960
    2024-04-01 $364,950 (-8.7%) $496,122 (-11.0%) 0.85 1,017
    2024-05-01 $367,175 (-8.2%) $508,694 (-7.7%) 0.84 1,043
    2024-06-01 $366,000 (-3.7%) $506,254 (-4.4%) 0.83 1,089
    2024-07-01 $365,600 (-1.2%) $507,725 (-1.2%) 0.84 1,122
    2024-08-01 $366,200 (-1.1%) $505,479 (-0.9%) 0.85 1,161
    2024-09-01 $364,950 (-1.4%) $497,897 (-0.8%) 0.86 1,179
    2024-10-01 $357,258 (-2.2%) $493,725 (0.2%) 0.84 1,183
    2024-11-01 $359,000 (-1.6%) $499,913 (2.9%) 0.86 1,148
    2024-12-01 $358,320 (-1.8%) $494,923 (1.1%) 0.89 1,104
    2025-01-01 $355,450 (-3.0%) $488,101 (0.4%) 0.89 1,039
    2025-02-01 $365,550 (0.2%) $497,227 (3.4%) 0.89 1,092
    2025-03-01 $369,450 (1.2%) $508,321 (3.2%) 0.87 1,191
    2025-04-01 $374,950 (2.7%) $519,344 (4.7%) 0.87 1,217
    2025-05-01 $377,750 (2.9%) $530,915 (4.4%) 0.86 1,235
    2025-06-01 $372,450 (1.8%) $524,780 (3.7%) 0.84 1,259
    College Station's median listing price for 2025-06-01 was $372,450, a difference of $6,450 (1.8%) versus the prior year and $-5,300 versus the prior month.

    College Station's median listing price comes in at 84% of the national average.

    College Station's average listing price for 2025-06-01 was $524,780, a difference of $18,526 (3.7%) versus the prior year and $-6,135 versus the prior month.

    For the 2025-06-01 period, College Station had 1,259 MLS listings, a difference of 24 listings (2%) versus the prior month and 170 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - College Station (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 73 days 2,083 sqft
    2018-02-01 61 days 2,008 sqft
    2018-03-01 53 days 2,007 sqft
    2018-04-01 52 days 2,000 sqft
    2018-05-01 56 days 1,980 sqft
    2018-06-01 61 days 1,961 sqft
    2018-07-01 66 days 1,980 sqft
    2018-08-01 71 days 1,976 sqft
    2018-09-01 75 days 1,978 sqft
    2018-10-01 79 days 1,931 sqft
    2018-11-01 86 days 1,913 sqft
    2018-12-01 96 days 1,911 sqft
    2019-01-01 88 days 1,895 sqft
    2019-02-01 62 days 1,863 sqft
    2019-03-01 56 days 1,876 sqft
    2019-04-01 65 days 1,904 sqft
    2019-05-01 72 days 1,939 sqft
    2019-06-01 71 days 1,939 sqft
    2019-07-01 71 days 1,947 sqft
    2019-08-01 74 days 1,958 sqft
    2019-09-01 78 days 1,956 sqft
    2019-10-01 82 days 1,955 sqft
    2019-11-01 86 days 1,955 sqft
    2019-12-01 94 days 1,935 sqft
    2020-01-01 90 days 1,900 sqft
    2020-02-01 67 days 1,900 sqft
    2020-03-01 55 days 1,880 sqft
    2020-04-01 69 days 1,905 sqft
    2020-05-01 80 days 1,911 sqft
    2020-06-01 90 days 1,904 sqft
    2020-07-01 81 days 1,858 sqft
    2020-08-01 75 days 1,856 sqft
    2020-09-01 73 days 1,818 sqft
    2020-10-01 75 days 1,794 sqft
    2020-11-01 81 days 1,759 sqft
    2020-12-01 79 days 1,765 sqft
    2021-01-01 74 days 1,752 sqft
    2021-02-01 62 days 1,768 sqft
    2021-03-01 45 days 1,790 sqft
    2021-04-01 39 days 1,826 sqft
    2021-05-01 36 days 1,945 sqft
    2021-06-01 32 days 2,021 sqft
    2021-07-01 34 days 2,049 sqft
    2021-08-01 35 days 1,892 sqft
    2021-09-01 42 days 1,870 sqft
    2021-10-01 48 days 1,889 sqft
    2021-11-01 51 days 1,852 sqft
    2021-12-01 59 days 1,850 sqft
    2022-01-01 53 days 1,854 sqft
    2022-02-01 28 days 1,957 sqft
    2022-03-01 26 days 1,858 sqft
    2022-04-01 22 days 1,884 sqft
    2022-05-01 24 days 1,956 sqft
    2022-06-01 28 days 1,987 sqft
    2022-07-01 40 days 1,953 sqft
    2022-08-01 48 days 1,945 sqft
    2022-09-01 55 days 1,948 sqft
    2022-10-01 63 days 1,930 sqft
    2022-11-01 69 days 1,962 sqft
    2022-12-01 81 days 1,960 sqft
    2023-01-01 86 days 1,957 sqft
    2023-02-01 78 days 1,931 sqft
    2023-03-01 60 days 2,003 sqft
    2023-04-01 57 days 2,042 sqft
    2023-05-01 46 days 2,029 sqft
    2023-06-01 44 days 1,948 sqft
    2023-07-01 55 days 1,897 sqft
    2023-08-01 57 days 1,923 sqft
    2023-09-01 57 days 1,911 sqft
    2023-10-01 67 days 1,889 sqft
    2023-11-01 76 days 1,889 sqft
    2023-12-01 83 days 1,887 sqft
    2024-01-01 84 days 1,896 sqft
    2024-02-01 71 days 1,886 sqft
    2024-03-01 47 days 1,893 sqft
    2024-04-01 51 days 1,894 sqft
    2024-05-01 53 days 1,905 sqft
    2024-06-01 58 days 1,928 sqft
    2024-07-01 64 days 1,913 sqft
    2024-08-01 67 days 1,884 sqft
    2024-09-01 76 days 1,876 sqft
    2024-10-01 74 days 1,858 sqft
    2024-11-01 85 days 1,858 sqft
    2024-12-01 90 days 1,871 sqft
    2025-01-01 96 days 1,856 sqft
    2025-02-01 84 days 1,873 sqft
    2025-03-01 57 days 1,894 sqft
    2025-04-01 54 days 1,895 sqft
    2025-05-01 58 days 1,918 sqft
    2025-06-01 60 days 1,904 sqft
    College Station's median listing age (time on market) for 2025-06-01 was 60 days. This is 3% longer than the same period one year ago.

    College Station's median square footage for active listings during the 2025-06-01 period was 1,904 sqft. One year prior, the average listing was 1,928 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).