Crestview FHA Loan Rates, Closing Costs & Stats

CRESTVIEW-FORT WALTON BEACH-DESTIN, FL

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.

Crestview's 131 lenders originated 849 FHA loans during 2022. The total origination value was $219,455,000, with an average FHA loan value of $258,486.

Crestview FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Crestview averaged 6.21% for the week of 2023-12-01, compared to the national average (all FHA variants) of 6.949% for the same period.

Crestview's average FHA mortgage closing costs are $7,888.

The average rate for the prior week (2023-11-24) was 6.22% and one month ago for the week of 2023-10-27, the average rate was 6.93%.

The average rate one year ago was 5.85%.

For refis of the same type during the week of 2023-12-01, the average rate was 5.55%.

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

Crestview 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 Crestview level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
BROKER SOLUTIONS, INC. 70 5.21% $10,241
QUICKEN LOANS, LLC 57 4.35% $11,603
UNITED WHOLESALE MORTGAGE, LLC 49 4.84% $10,686
MOVEMENT MORTGAGE, LLC 38 5.08% $9,397
PRIMELENDING, A PLAINSCAPITAL COMPANY 30 5.47% $11,338
INSPIRE HOME LOANS INC. 26 5.16% $10,027
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 25 4.92% $9,152
DHI MORTGAGE COMPANY, LTD. 24 4.53% $11,839
UNIVERSITY LENDING GROUP, LLC 22 4.36% $8,674
SUCCESS MORTGAGE PARTNERS, INC. 20 5.30% $11,097
LOANDEPOT.COM, LLC 19 4.65% $11,609
Bank of England 19 4.76% $13,193
Waterstone Mortgage Corporation 17 5.39% $10,352
CARDINAL FINANCIAL 17 5.02% $10,183
Mr. Cooper ( Nationstar Mortgage ) 16 4.70% $14,687
CALIBER HOME LOANS, INC. 15 4.27% $10,853
PENNYMAC LOAN SERVICES, LLC 15 4.30% $11,163
CROSSCOUNTRY MORTGAGE, LLC 14 5.42% $11,173
FREEDOM MORTGAGE CORPORATION 12 5.35% $9,966
LAKEVIEW LOAN SERVICING, LLC 11 3.84% $6,451
The First, A National Banking Association 10 3.93% $7,776
Centennial Bank 8 4.42% $11,066
NEWREZ LLC 6 5.12% $10,440
Nations Lending Corporation 6 5.44% $10,133
Carrington Mortgage Services, LLC 6 5.92% $10,930
MORTGAGE ONE OF THE SOUTH, INC. 6 4.02% $7,352
Regions Bank 5 5.83% $11,292
GUARANTEED RATE, INC. 5 4.88% $13,281
GUARANTEED RATE AFFINITY, LLC 5 5.78% $10,766
Renasant Bank 5 4.28% $12,068
Ameris Bank 5 4.13% $9,811
Progress Bank and Trust 5 4.55% $10,913
CANOPY MORTGAGE, LLC 5 4.12% $10,722
CERTAINTY HOME LOANS, LLC 5 4.73% $8,732
FIDELITY BANK 5 5.58% $11,879
Hometown Lenders, Inc. 5 3.65% $10,307
CBM Mortgage, Inc. 4 5.34% $12,211
EVERETT FINANCIAL, INC. 4 5.00% $7,573
AMERISAVE MORTGAGE CORPORATION 4 4.19% $15,359
FBC MORTGAGE, LLC 4 4.75% $13,945
HOME POINT FINANCIAL CORPORATION 4 4.15% $13,984
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 5.84% $13,637
Synovus Bank 4 5.59% $11,043
ACADEMY MORTGAGE CORPORATION 4 5.78% $9,664
LOANPAL, LLC 4 4.62% $14,942
ZILLOW HOME LOANS, LLC 3 3.29% $8,212
AMERICAN FINANCIAL RESOURCES, INC. 3 4.46% $7,145
CMG MORTGAGE, INC. 3 5.58% $11,458
DAS Acquisition Company, LLC 3 5.92% $8,879
Flagstar Bank, FSB 3 4.38% $11,811
Mortgage Research Center, LLC 3 4.41% $11,606
Northpointe Bank 3 5.17% $8,434
PLANET HOME LENDING, LLC 3 4.79% $11,213
SUN WEST MORTGAGE COMPANY, INC. 3 4.95% $9,141
Trustmark National Bank 3 4.67% $9,223
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.44% $7,825
HOMESTAR FINANCIAL CORPORATION 2 5.19% $13,552
Hometown Equity Mortgage, LLC 2 6.19% $10,714
Lakeview Community Capital, LLC 2 4.43% $6,361
MICHIGAN MUTUAL, INC. 2 6.06% $14,010
OPEN MORTGAGE, LLC 2 5.44% $15,980
FIRST EQUITY MORTGAGE BANKERS, INC. 2 3.88% $10,959
Paramount Residential Mortgage Group, Inc. 2 5.75% $11,001
HOMESIDE FINANCIAL, LLC 2 5.69% $10,059
PENTAGON FEDERAL CREDIT UNION 2 4.94% $8,771
SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 5.38% $18,078
Equity Prime Mortgage LLC 2 5.56% $14,482
AMERICAN PACIFIC MORTGAGE CORPORATION 2 4.81% $8,223
1ST SIGNATURE LENDING, LLC 2 4.13% $13,215
AMERICAN MORTGAGE SERVICE COMPANY 2 4.31% $8,926
NATIONS DIRECT MORTGAGE, LLC 2 4.81% $18,186
Hancock Whitney Bank 2 5.56% $10,067
Capital City Home Loans, LLC 2 5.19% $13,043
MY MORTGAGE, INC. 1 3.25% $19,984
CALCON MUTUAL MORTGAGE LLC 1 6.13% $10,224
VILLAGE CAPITAL MORTGAGE 1 4.38% $10,259
NOVA FINANCIAL & INVESTMENT CORPORATION 1 4.50% $9,093
NP, Inc. 1 4.50% $18,009
PANORAMA MORTGAGE GROUP, LLC 1 6.25% $9,804
BAY EQUITY LLC 1 6.38% $17,325
Plains Commerce Bank 1 3.63% $9,403
PNC Bank 1 4.88% $6,396
Preston Home Loans Inc 1 6.13% $14,539
Bank of America 1 4.63% $2,240
BancorpSouth 1 3.50% $7,739
ARC HOME LLC 1 5.13% $9,302
AmeriHome Mortgage Company, LLC 1 4.63% $9,639
AMERIFIRST FINANCIAL CORPORATION 1 4.38% $16,215
RESOURCE FINANCIAL SERVICES, INC. 1 5.63% $9,870
RUOFF MORTGAGE COMPANY, INC. 1 5.25% $9,411
SECURITYNATIONAL MORTGAGE COMPANY 1 5.63% $10,211
Sierra Pacific Mortgage Company, Inc. 1 4.88% $5,683
SOUTHWEST STAGE FUNDING, LLC 1 5.88% $16,921
Wyndham Capital Mortgage, Inc. 1 3.88% $6,759
The Federal Savings Bank 1 5.88% $10,618
AMERICAN FINANCING CORPORATION 1 3.75% $7,988
The Huntington National Bank 1 4.38% $7,442
THE MORTGAGE FIRM, INC. 1 6.13% $12,720
TOP FLITE FINANCIAL, INC. 1 5.75% $9,099
TOWNE MORTGAGE COMPANY 1 2.88% $8,115
1ST FINANCIAL, INC. 1 5.25% $7,341
Tyndall Federal Credit Union 1 2.88% $8,743
UNION HOME MORTGAGE CORP. 1 4.88% $14,485
United Fidelity Funding Corp. 1 5.75% $7,002
ALLIED MORTGAGE GROUP, INC. 1 2.25% $15,468
University Bank 1 6.13% $11,089
Acre Mortgage and Financial Inc 1 4.13% $14,400
US MORTGAGE CORPORATION 1 4.63% $14,962
VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.00% $11,352
GMFS LLC 1 2.88% $8,662
GENEVA FINANCIAL, LLC 1 5.50% $10,256
FIRST SAVINGS MORTGAGE CORPORATION 1 5.00% $8,923
First Guaranty Mortgage Corporation 1 2.25% $9,811
First Home Bank 1 4.00% $12,005
FirstBank 1 3.88% $8,589
INTERLINC MORTGAGE SERVICES, LLC 1 4.99% $16,790
KeyBank 1 3.00% $20,889
FIDELITY DIRECT MORTGAGE, LLC 1 7.50% $8,461
LEADERONE FINANCIAL CORPORATION 1 4.75% $13,152
LOANLEADERS OF AMERICA, INC. 1 5.63% $13,975
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.00% $20,728
Loan Simple, Inc. 1 7.25% $13,427
MILEND, INC. 1 5.63% $21,816
MORIA DEVELOPMENT, INC. 1 5.63% $14,456
MORTGAGE EQUITY PARTNERS LLC 1 5.13% $22,868
CONTOUR MORTGAGE CORPORATION 1 3.63% $31,202
VERITAS FUNDING, LLC 1 4.50% $16,796
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.25% $28,691
Community Bank of Mississippi 1 5.38% $7,984
CHURCHILL MORTGAGE CORPORATION 1 5.50% $11,921
MUTUAL OF OMAHA MORTGAGE, INC. 1 4.75% $13,485

The top Crestview FHA lender as defined by loan originations is BROKER SOLUTIONS, INC., with 70 FHA loans originated. Their average total fees are $10,241, which is $1,362 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Crestview FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($6,451), The First, A National Banking Association ($7,776), UNIVERSITY LENDING GROUP, LLC ($8,674), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,152) and MOVEMENT MORTGAGE, LLC ($9,397).

The lowest rate Crestview FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (3.84%), The First, A National Banking Association (3.93%), CALIBER HOME LOANS, INC. (4.27%), PENNYMAC LOAN SERVICES, LLC (4.30%) and QUICKEN LOANS, LLC (4.35%).

Crestview FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL OKALOOSA 2022 $539,350 $690,450 $834,600 $1,037,200
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL WALTON 2022 $539,350 $690,450 $834,600 $1,037,200
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL OKALOOSA 2023 $603,750 $772,900 $934,250 $1,161,050
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL WALTON 2023 $603,750 $772,900 $934,250 $1,161,050

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Crestview (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 $397,675 (4.6%) $728,947 (0.2%) 1.47 3,248
2018-02-01 $399,000 (1.8%) $717,456 (-2.7%) 1.45 3,303
2018-03-01 $399,000 (0.3%) $730,590 (-1.7%) 1.40 3,393
2018-04-01 $399,250 (1.1%) $734,065 (0.0%) 1.35 3,464
2018-05-01 $399,350 (0.7%) $734,733 (-0.5%) 1.33 3,473
2018-06-01 $399,999 (0.0%) $733,544 (-1.3%) 1.33 3,536
2018-07-01 $399,000 (-0.3%) $726,146 (-3.3%) 1.33 3,575
2018-08-01 $396,550 (-4.7%) $732,668 (-3.3%) 1.33 3,523
2018-09-01 $398,750 (-2.6%) $725,847 (-3.3%) 1.34 3,535
2018-10-01 $399,000 (-0.5%) $732,601 (-1.4%) 1.35 3,491
2018-11-01 $399,000 (-0.1%) $728,288 (-0.8%) 1.35 3,435
2018-12-01 $415,000 (4.0%) $754,498 (2.3%) 1.43 3,323
2019-01-01 $420,200 (5.7%) $758,553 (4.1%) 1.45 3,178
2019-02-01 $427,450 (7.1%) $771,580 (7.5%) 1.44 3,176
2019-03-01 $449,571 (12.7%) $792,916 (8.5%) 1.47 3,238
2019-04-01 $469,000 (17.5%) $817,515 (11.4%) 1.49 3,317
2019-05-01 $474,950 (18.9%) $842,106 (14.6%) 1.48 3,283
2019-06-01 $479,000 (19.8%) $842,139 (14.8%) 1.50 3,257
2019-07-01 $482,804 (21.0%) $859,378 (18.4%) 1.51 3,212
2019-08-01 $489,064 (23.3%) $872,456 (19.1%) 1.55 3,183
2019-09-01 $495,159 (24.2%) $880,322 (21.3%) 1.58 3,170
2019-10-01 $499,950 (25.3%) $886,015 (20.9%) 1.61 3,160
2019-11-01 $500,000 (25.3%) $886,124 (21.7%) 1.64 3,086
2019-12-01 $499,900 (20.5%) $883,478 (17.1%) 1.67 2,947
2020-01-01 $505,000 (20.2%) $880,361 (16.1%) 1.69 2,789
2020-02-01 $525,000 (22.8%) $901,434 (16.8%) 1.72 2,707
2020-03-01 $530,146 (17.9%) $904,813 (14.1%) 1.66 2,878
2020-04-01 $520,229 (10.9%) $874,666 (7.0%) 1.63 3,102
2020-05-01 $525,000 (10.5%) $882,726 (4.8%) 1.60 3,098
2020-06-01 $499,950 (4.4%) $896,725 (6.5%) 1.47 2,701
2020-07-01 $509,000 (5.4%) $930,809 (8.3%) 1.48 2,449
2020-08-01 $499,000 (2.0%) $943,256 (8.1%) 1.43 2,236
2020-09-01 $499,000 (0.8%) $940,788 (6.9%) 1.43 2,060
2020-10-01 $489,000 (-2.2%) $960,273 (8.4%) 1.40 1,921
2020-11-01 $478,250 (-4.4%) $962,170 (8.6%) 1.40 1,855
2020-12-01 $472,500 (-5.5%) $976,125 (10.5%) 1.41 1,676
2021-01-01 $465,500 (-7.8%) $985,060 (11.9%) 1.39 1,450
2021-02-01 $472,225 (-10.1%) $1,010,709 (12.1%) 1.38 1,172
2021-03-01 $499,000 (-5.9%) $1,052,340 (16.3%) 1.42 1,026
2021-04-01 $560,000 (7.6%) $1,114,432 (27.4%) 1.52 980
2021-05-01 $619,000 (17.9%) $1,150,402 (30.3%) 1.65 1,017
2021-06-01 $599,000 (19.8%) $1,139,313 (27.1%) 1.58 1,174
2021-07-01 $599,000 (17.7%) $1,137,644 (22.2%) 1.58 1,444
2021-08-01 $599,925 (20.2%) $1,125,259 (19.3%) 1.60 1,645
2021-09-01 $609,900 (22.2%) $1,140,674 (21.3%) 1.63 1,680
2021-10-01 $599,450 (22.6%) $1,140,615 (18.8%) 1.60 1,613
2021-11-01 $607,425 (27.0%) $1,143,415 (18.8%) 1.62 1,500
2021-12-01 $600,025 (27.0%) $1,150,873 (17.9%) 1.63 1,295
2022-01-01 $599,909 (28.9%) $1,203,382 (22.2%) 1.62 1,057
2022-02-01 $604,725 (28.1%) $1,268,969 (25.6%) 1.57 857
2022-03-01 $620,799 (24.4%) $1,302,105 (23.7%) 1.55 928
2022-04-01 $646,485 (15.4%) $1,347,231 (20.9%) 1.54 1,163
2022-05-01 $649,500 (4.9%) $1,341,437 (16.6%) 1.48 1,520
2022-06-01 $685,125 (14.4%) $1,389,993 (22.0%) 1.53 1,875
2022-07-01 $689,900 (15.2%) $1,393,214 (22.5%) 1.55 2,337
2022-08-01 $667,125 (11.2%) $1,359,261 (20.8%) 1.54 2,494
2022-09-01 $662,250 (8.6%) $1,326,133 (16.3%) 1.55 2,591
2022-10-01 $667,975 (11.4%) $1,320,653 (15.8%) 1.57 2,680
2022-11-01 $646,954 (6.5%) $1,292,133 (13.0%) 1.56 2,736
2022-12-01 $639,700 (6.6%) $1,293,770 (12.4%) 1.58 2,613
2023-01-01 $627,450 (4.6%) $1,271,351 (5.7%) 1.56 2,518
2023-02-01 $631,104 (4.4%) $1,287,461 (1.5%) 1.52 2,464
2023-03-01 $662,500 (6.7%) $1,345,085 (3.3%) 1.56 2,431
2023-04-01 $699,250 (8.2%) $1,404,888 (4.3%) 1.63 2,470
2023-05-01 $717,000 (10.4%) $1,449,542 (8.1%) 1.62 2,546
2023-06-01 $725,000 (5.8%) $1,449,837 (4.3%) 1.63 2,663
2023-07-01 $725,000 (5.1%) $1,430,036 (2.6%) 1.65 2,827
2023-08-01 $719,800 (7.9%) $1,417,101 (4.3%) 1.65 2,941
2023-09-01 $689,500 (4.1%) $1,358,512 (2.4%) 1.61 3,193
2023-10-01 $677,000 (1.4%) $1,319,775 (-0.1%) 1.59 3,330
2023-11-01 $649,450 (0.4%) $1,291,771 (0.0%) 1.55 3,465
Crestview's median listing price for 2023-11-01 was $649,450, a difference of $2,496 (0.4%) versus the prior year and $-27,550 versus the prior month.

Crestview's median listing price comes in at 155% of the national average.

Crestview's average listing price for 2023-11-01 was $1,291,771, a difference of $-362 (0.0%) versus the prior year and $-28,004 versus the prior month.

For the 2023-11-01 period, Crestview had 3,465 MLS listings, a difference of 135 listings (4%) versus the prior month and 729 listings (27%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Crestview (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 101 days 1,965 sqft
2018-02-01 94 days 1,970 sqft
2018-03-01 72 days 1,979 sqft
2018-04-01 67 days 1,978 sqft
2018-05-01 68 days 1,999 sqft
2018-06-01 72 days 2,000 sqft
2018-07-01 78 days 1,977 sqft
2018-08-01 84 days 1,970 sqft
2018-09-01 85 days 1,958 sqft
2018-10-01 89 days 1,933 sqft
2018-11-01 89 days 1,919 sqft
2018-12-01 96 days 1,921 sqft
2019-01-01 101 days 1,923 sqft
2019-02-01 98 days 1,944 sqft
2019-03-01 84 days 1,963 sqft
2019-04-01 68 days 1,980 sqft
2019-05-01 67 days 2,013 sqft
2019-06-01 72 days 1,981 sqft
2019-07-01 75 days 1,979 sqft
2019-08-01 78 days 1,985 sqft
2019-09-01 78 days 2,001 sqft
2019-10-01 79 days 2,011 sqft
2019-11-01 80 days 2,000 sqft
2019-12-01 88 days 1,998 sqft
2020-01-01 92 days 2,005 sqft
2020-02-01 92 days 2,005 sqft
2020-03-01 65 days 2,014 sqft
2020-04-01 65 days 2,007 sqft
2020-05-01 73 days 1,988 sqft
2020-06-01 79 days 1,957 sqft
2020-07-01 61 days 1,978 sqft
2020-08-01 56 days 1,941 sqft
2020-09-01 52 days 1,940 sqft
2020-10-01 56 days 1,896 sqft
2020-11-01 53 days 1,916 sqft
2020-12-01 59 days 1,892 sqft
2021-01-01 64 days 1,918 sqft
2021-02-01 43 days 1,881 sqft
2021-03-01 29 days 1,930 sqft
2021-04-01 22 days 1,953 sqft
2021-05-01 21 days 1,980 sqft
2021-06-01 23 days 1,919 sqft
2021-07-01 27 days 1,922 sqft
2021-08-01 33 days 1,903 sqft
2021-09-01 38 days 1,888 sqft
2021-10-01 45 days 1,870 sqft
2021-11-01 51 days 1,923 sqft
2021-12-01 57 days 1,927 sqft
2022-01-01 61 days 1,925 sqft
2022-02-01 43 days 1,933 sqft
2022-03-01 34 days 1,977 sqft
2022-04-01 33 days 2,004 sqft
2022-05-01 32 days 2,011 sqft
2022-06-01 36 days 2,018 sqft
2022-07-01 42 days 2,006 sqft
2022-08-01 51 days 1,997 sqft
2022-09-01 59 days 2,004 sqft
2022-10-01 64 days 2,009 sqft
2022-11-01 72 days 1,983 sqft
2022-12-01 80 days 1,982 sqft
2023-01-01 85 days 1,983 sqft
2023-02-01 78 days 1,958 sqft
2023-03-01 64 days 1,983 sqft
2023-04-01 59 days 2,000 sqft
2023-05-01 59 days 1,973 sqft
2023-06-01 60 days 1,946 sqft
2023-07-01 62 days 1,950 sqft
2023-08-01 67 days 1,941 sqft
2023-09-01 65 days 1,900 sqft
2023-10-01 66 days 1,865 sqft
2023-11-01 71 days 1,862 sqft
Crestview's median listing age (time on market) for 2023-11-01 was 71 days. This is -1% shorter than the same period one year ago.

Crestview's median square footage for active listings during the 2023-11-01 period was 1,862 sqft. One year prior, the average listing was 1,983 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).