Crestview FHA Loan Rates, Closing Costs & Stats

CRESTVIEW-FORT WALTON BEACH-DESTIN, FL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 5.88% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

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

    The average rate for the prior week (2023-05-19) was 5.85% and one month ago for the week of 2023-04-21, the average rate was 5.79%.

    The average rate one year ago was 4.81%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.01%.

    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 Bank 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 $449,000 (12.5%) $784,216 (7.3%) 1.50 3,288
    2019-04-01 $469,000 (17.5%) $817,837 (11.4%) 1.49 3,329
    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 $499,000 (25.8%) $891,355 (21.7%) 1.56 3,188
    2019-09-01 $527,350 (32.3%) $921,715 (27.0%) 1.66 3,031
    2019-10-01 $499,950 (25.3%) $886,706 (21.0%) 1.61 3,156
    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 (18.1%) $904,813 (15.4%) 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 (0.0%) $943,256 (5.8%) 1.43 2,236
    2020-09-01 $499,000 (-5.4%) $940,788 (2.1%) 1.43 2,060
    2020-10-01 $489,000 (-2.2%) $960,273 (8.3%) 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%) 1.37 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%) 1.64 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 $607,450 (27.0%) $1,143,882 (18.9%) 1.62 1,500
    2021-12-01 $600,025 (27.0%) $1,150,873 (17.9%) 1.63 1,295
    2022-01-01 $599,917 (28.9%) $1,205,691 (22.4%) 1.62 1,057
    2022-02-01 $609,500 (29.1%) $1,270,866 (25.7%) 1.59 857
    2022-03-01 $622,500 (24.8%) $1,303,420 (23.9%) 1.56 928
    2022-04-01 $647,743 (15.7%) $1,347,983 (21.0%) 1.54 1,163
    2022-05-01 $649,500 (4.9%) $1,342,255 (16.7%) 1.48 1,521
    2022-06-01 $686,625 (14.6%) $1,391,269 (22.1%) 1.53 1,875
    2022-07-01 $689,900 (15.2%) $1,395,353 (22.7%) 1.56 2,337
    2022-08-01 $667,250 (11.2%) $1,359,412 (20.8%) 1.54 2,494
    2022-09-01 $662,500 (8.6%) $1,326,855 (16.3%) 1.55 2,591
    2022-10-01 $669,000 (11.6%) $1,321,176 (15.8%) 1.57 2,682
    2022-11-01 $648,000 (6.7%) $1,293,421 (13.1%) 1.56 2,738
    2022-12-01 $639,900 (6.7%) $1,294,220 (12.5%) 1.58 2,615
    2023-01-01 $627,450 (4.6%) $1,272,493 (5.5%) 1.55 2,520
    2023-02-01 $634,000 (4.0%) $1,292,339 (1.7%) 1.53 2,468
    2023-03-01 $667,479 (7.2%) $1,345,967 (3.3%) 1.57 2,432
    2023-04-01 $699,900 (8.1%) $1,410,453 (4.6%) 1.63 2,470
    Crestview's median listing price for 2023-04-01 was $699,900, a difference of $52,157 (8.1%) versus the prior year and $32,421 versus the prior month.

    Crestview's median listing price comes in at 163% of the national average.

    Crestview's average listing price for 2023-04-01 was $1,410,453, a difference of $62,470 (4.6%) versus the prior year and $64,486 versus the prior month.

    For the 2023-04-01 period, Crestview had 2,470 MLS listings, a difference of 38 listings (2%) versus the prior month and 1,307 listings (112%) 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
    2018-01-01 121 days 1,965 sqft
    2018-02-01 114 days 1,970 sqft
    2018-03-01 99 days 1,979 sqft
    2018-04-01 82 days 1,978 sqft
    2018-05-01 79 days 1,999 sqft
    2018-06-01 86 days 2,000 sqft
    2018-07-01 90 days 1,977 sqft
    2018-08-01 98 days 1,970 sqft
    2018-09-01 101 days 1,958 sqft
    2018-10-01 106 days 1,933 sqft
    2018-11-01 105 days 1,919 sqft
    2018-12-01 109 days 1,921 sqft
    2019-01-01 115 days 1,923 sqft
    2019-02-01 111 days 1,944 sqft
    2019-03-01 94 days 1,965 sqft
    2019-04-01 79 days 1,980 sqft
    2019-05-01 78 days 2,013 sqft
    2019-06-01 82 days 1,981 sqft
    2019-07-01 89 days 1,979 sqft
    2019-08-01 99 days 2,014 sqft
    2019-09-01 104 days 2,028 sqft
    2019-10-01 91 days 2,008 sqft
    2019-11-01 94 days 2,000 sqft
    2019-12-01 100 days 1,998 sqft
    2020-01-01 105 days 2,005 sqft
    2020-02-01 106 days 2,005 sqft
    2020-03-01 81 days 2,014 sqft
    2020-04-01 78 days 2,007 sqft
    2020-05-01 82 days 1,988 sqft
    2020-06-01 90 days 1,957 sqft
    2020-07-01 73 days 1,978 sqft
    2020-08-01 66 days 1,941 sqft
    2020-09-01 64 days 1,940 sqft
    2020-10-01 64 days 1,896 sqft
    2020-11-01 65 days 1,916 sqft
    2020-12-01 67 days 1,892 sqft
    2021-01-01 70 days 1,918 sqft
    2021-02-01 55 days 1,881 sqft
    2021-03-01 35 days 1,930 sqft
    2021-04-01 27 days 1,953 sqft
    2021-05-01 23 days 1,980 sqft
    2021-06-01 24 days 1,919 sqft
    2021-07-01 29 days 1,922 sqft
    2021-08-01 36 days 1,903 sqft
    2021-09-01 42 days 1,888 sqft
    2021-10-01 50 days 1,870 sqft
    2021-11-01 58 days 1,923 sqft
    2021-12-01 63 days 1,927 sqft
    2022-01-01 69 days 1,930 sqft
    2022-02-01 56 days 1,936 sqft
    2022-03-01 39 days 1,979 sqft
    2022-04-01 36 days 2,007 sqft
    2022-05-01 35 days 2,013 sqft
    2022-06-01 37 days 2,018 sqft
    2022-07-01 43 days 2,006 sqft
    2022-08-01 54 days 1,997 sqft
    2022-09-01 62 days 2,004 sqft
    2022-10-01 67 days 2,009 sqft
    2022-11-01 75 days 1,986 sqft
    2022-12-01 85 days 1,982 sqft
    2023-01-01 88 days 1,983 sqft
    2023-02-01 85 days 1,960 sqft
    2023-03-01 69 days 1,988 sqft
    2023-04-01 64 days 1,997 sqft
    Crestview's median listing age (time on market) for 2023-04-01 was 64 days. This is 78% longer than the same period one year ago.

    Crestview's median square footage for active listings during the 2023-04-01 period was 1,997 sqft. One year prior, the average listing was 2,007 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).