El Paso FHA Loan Rates, Closing Costs & Stats

EL PASO, 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.

    El Paso's 116 lenders originated 2,496 FHA loans during 2023. The total origination value was $594,510,000, with an average FHA loan value of $238,185.

    El Paso FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in El Paso averaged 6.83% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    El Paso's average FHA mortgage closing costs are $7,380.

    The average rate for the prior week (2024-04-12) was 6.63% and one month ago for the week of 2024-03-15, the average rate was 6.39%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.65%.

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

    El Paso 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 El Paso level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Commerce Home Mortgage, Inc. 240 6.69% $10,354
    UNITED WHOLESALE MORTGAGE, LLC 187 6.30% $12,002
    CARDINAL FINANCIAL 156 6.50% $12,652
    Rocky Mountain Mortgage Company 149 6.42% $7,147
    CADENCE LENDING GROUP, INC. 126 6.41% $13,299
    First National Bank Texas 124 6.29% $9,721
    PATRIOT MORTGAGE COMPANY 118 5.92% $11,186
    MOVEMENT MORTGAGE, LLC 88 6.73% $11,945
    CMG MORTGAGE, INC. 72 6.28% $14,009
    QUICKEN LOANS, LLC 54 6.35% $10,486
    AMERICAN PACIFIC MORTGAGE CORPORATION 53 6.44% $11,551
    Sunflower Bank 46 6.22% $11,330
    Town Square Mortgage & Investments, Inc. 39 6.59% $8,594
    CROSSCOUNTRY MORTGAGE, LLC 39 6.45% $14,687
    SECURITYNATIONAL MORTGAGE COMPANY 38 6.74% $11,751
    THE MORTGAGE LINK, INC. 30 6.70% $12,721
    City Bank 30 6.61% $12,394
    Nations Lending Corporation 28 6.26% $8,374
    Flagstar Bank, FSB 28 6.60% $10,144
    BROKER SOLUTIONS, INC. 26 6.86% $10,364
    Century Mortgage Company DBA Century Lending Company 25 6.40% $12,486
    PLAZA HOME MORTGAGE, INC. 23 6.41% $13,150
    EUSTIS AND AMERICAN MORTGAGE COMPANY 23 6.89% $8,602
    Waterstone Mortgage Corporation 19 7.05% $11,894
    MORTGAGE FINANCIAL SERVICES, LLC 19 6.97% $10,226
    WILLOW BEND MORTGAGE COMPANY, LLC 18 6.60% $12,108
    GUARANTEED RATE, INC. 18 6.13% $9,144
    Plains Commerce Bank 17 6.97% $10,459
    UNION HOME MORTGAGE CORP. 12 6.73% $10,996
    AMCAP MORTGAGE, LTD. 11 6.65% $10,423
    OCMBC, INC. 11 6.74% $10,306
    GENEVA FINANCIAL, LLC 10 7.00% $13,466
    Network Funding, L.P. 10 6.50% $10,704
    SUMMIT FUNDING, INC. 10 6.93% $10,639
    First Option Mortgage, LLC 10 6.25% $13,310
    LOANDEPOT.COM, LLC 9 6.25% $11,352
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 5.85% $9,991
    V.I.P. MORTGAGE, INC. 9 6.71% $10,634
    FirstLight Federal Credit Union 8 6.01% $8,094
    US MORTGAGE CORPORATION 7 7.20% $9,394
    NEWREZ LLC 7 6.70% $8,170
    Ixonia Bank 7 6.29% $10,674
    EVERETT FINANCIAL, INC. 6 7.19% $12,597
    Paramount Residential Mortgage Group, Inc. 6 6.94% $8,368
    CALCON MUTUAL MORTGAGE LLC 6 6.00% $15,428
    NOVA FINANCIAL & INVESTMENT CORPORATION 6 6.85% $8,031
    FREEDOM MORTGAGE CORPORATION 5 7.18% $9,313
    PENNYMAC LOAN SERVICES, LLC 5 6.40% $13,601
    CASTLE & COOKE MORTGAGE, LLC 5 7.00% $12,750
    AHL FUNDING 4 6.38% $10,934
    ZILLOW HOME LOANS, LLC 4 6.19% $11,134
    CHERRY CREEK MORTGAGE, LLC 4 6.69% $3,400
    GUILD MORTGAGE COMPANY 4 6.38% $7,544
    SeaTrust Mortgage Company 4 7.13% $9,791
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.59% $11,050
    PLANET HOME LENDING, LLC 4 5.88% $6,758
    MANN FINANCIAL INC. 4 7.44% $10,349
    JPMorgan Chase Bank 4 6.03% $5,603
    Mortgage Research Center, LLC 3 6.71% $6,781
    Encompass Lending Group, LP 3 7.08% $9,427
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.71% $11,732
    NFM, INC. 3 7.08% $11,844
    AMERICAN FINANCIAL NETWORK, INC. 3 7.92% $11,638
    VILLAGE CAPITAL MORTGAGE 3 6.25% $3,774
    NATIONS DIRECT MORTGAGE, LLC 3 6.62% $9,869
    AMERISAVE MORTGAGE CORPORATION 3 5.17% $15,868
    DIRECTIONS EQUITY, LLC 2 5.56% $8,219
    CHURCHILL MORTGAGE CORPORATION 2 6.94% $12,458
    Citizens Bank of Las Cruces 2 6.81% $8,723
    Carrington Mortgage Services, LLC 2 6.25% $11,567
    Equity Prime Mortgage LLC 2 6.69% $12,272
    Bank of England 2 6.69% $13,163
    INTERLINC MORTGAGE SERVICES, LLC 2 7.44% $8,095
    Loan Simple, Inc. 2 7.88% $12,611
    MID AMERICA MORTGAGE, INC. 2 7.31% $7,281
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.13% $11,292
    Princeton Mortgage Corporation 2 7.25% $16,456
    SUN WEST MORTGAGE COMPANY, INC. 2 6.62% $8,434
    TOWNE MORTGAGE COMPANY 2 7.19% $8,406
    U.S. Bank 2 6.44% $6,533
    LHM FINANCIAL CORPORATION 1 5.75% $10,125
    LEADERONE FINANCIAL CORPORATION 1 6.25% $17,753
    Ameris Bank 1 5.75% $10,499
    KELLER MORTGAGE, LLC 1 5.88% $7,982
    PENTAGON FEDERAL CREDIT UNION 1 5.75% $12,342
    INTERCAP LENDING INC. 1 6.63% $7,510
    Independent Bank 1 6.13% $6,348
    ACADEMY MORTGAGE CORPORATION 1 6.25% $12,677
    PNC Bank 1 6.50% $6,480
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.50% $12,423
    Hometown Equity Mortgage, LLC 1 7.63% $12,745
    BELEM SERVICING LLC 1 5.75% $10,048
    HOMESPIRE MORTGAGE CORPORATION 1 7.25% $17,254
    AmeriHome Mortgage Company, LLC 1 6.13% $7,025
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.75% $14,607
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.25% $9,861
    SFMC, LP 1 7.13% $13,862
    Stride Bank 1 6.13% $9,417
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $15,772
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.38% $15,173
    Colonial Savings, F.A. 1 5.75% $15,322
    Gateway First Bank 1 7.25% $13,084
    TJC Mortgage, Inc. 1 6.50% $9,483
    CANOPY MORTGAGE, LLC 1 7.63% $26,305
    ALL WESTERN MORTGAGE, INC. 1 7.38% $12,100
    BancorpSouth 1 6.88% $9,269
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 7.50% $8,671
    UNIVERSITY Federal Credit Union 1 6.13% $12,703
    Citizens Bank 1 6.00% $12,215
    DHI MORTGAGE COMPANY, LTD. 1 5.75% $13,164
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.50% $18,516
    BECKAM FUNDING CORP. 1 7.25% $12,914
    NETWORK CAPITAL FUNDING CORPORATION 1 5.63% $16,516
    NBKC BANK 1 7.13% $7,672
    Northpointe Bank 1 6.00% $15,014
    Arvest Bank 1 7.00% $12,260

    The top El Paso FHA lender as defined by loan originations is Commerce Home Mortgage, Inc., with 240 FHA loans originated. Their average total fees are $10,354, which is $1,648 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee El Paso FHA lenders (with over 10 loans originated) are Rocky Mountain Mortgage Company ($7,147), Nations Lending Corporation ($8,374), Town Square Mortgage & Investments, Inc. ($8,594), EUSTIS AND AMERICAN MORTGAGE COMPANY ($8,602) and GUARANTEED RATE, INC. ($9,144).

    The lowest rate El Paso FHA lenders (with over 10 loans originated) are PATRIOT MORTGAGE COMPANY (5.92%), GUARANTEED RATE, INC. (6.13%), Sunflower Bank (6.22%), First Option Mortgage, LLC (6.25%) and Nations Lending Corporation (6.26%).

    El Paso FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    EL PASO, TX EL PASO 2022 $420,680 $538,650 $651,050 $809,150
    EL PASO, TX HUDSPETH 2022 $420,680 $538,650 $651,050 $809,150
    EL PASO, TX EL PASO 2023 $472,030 $604,400 $730,525 $907,900
    EL PASO, TX HUDSPETH 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - El Paso (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 $167,950 (2.2%) $197,104 (-3.2%) 0.62 3,504
    2018-02-01 $168,225 (2.0%) $196,667 (-3.7%) 0.61 3,531
    2018-03-01 $169,775 (2.3%) $198,781 (-3.0%) 0.60 3,449
    2018-04-01 $172,225 (3.8%) $200,788 (-3.6%) 0.58 3,259
    2018-05-01 $173,488 (3.9%) $201,242 (-3.3%) 0.58 3,213
    2018-06-01 $175,000 (4.2%) $203,328 (-4.6%) 0.58 3,162
    2018-07-01 $176,475 (5.1%) $205,403 (-3.7%) 0.59 3,158
    2018-08-01 $177,250 (5.5%) $204,217 (-3.5%) 0.59 3,066
    2018-09-01 $177,388 (5.6%) $203,735 (-3.9%) 0.60 3,075
    2018-10-01 $176,975 (5.5%) $202,710 (-3.2%) 0.60 3,188
    2018-11-01 $178,475 (6.0%) $203,760 (-3.3%) 0.61 3,144
    2018-12-01 $179,900 (6.8%) $206,745 (4.5%) 0.62 2,987
    2019-01-01 $183,725 (9.4%) $208,978 (6.0%) 0.63 2,797
    2019-02-01 $184,975 (10.0%) $210,193 (6.9%) 0.62 2,784
    2019-03-01 $187,629 (10.5%) $214,423 (7.9%) 0.61 2,692
    2019-04-01 $189,925 (10.3%) $218,853 (9.0%) 0.60 2,620
    2019-05-01 $191,475 (10.4%) $221,680 (10.2%) 0.60 2,621
    2019-06-01 $191,950 (9.7%) $222,335 (9.4%) 0.60 2,597
    2019-07-01 $191,450 (8.5%) $222,094 (8.1%) 0.60 2,654
    2019-08-01 $191,727 (8.2%) $223,539 (9.5%) 0.61 2,638
    2019-09-01 $190,755 (7.5%) $224,757 (10.3%) 0.61 2,611
    2019-10-01 $190,583 (7.7%) $226,490 (11.7%) 0.61 2,594
    2019-11-01 $195,000 (9.3%) $228,928 (12.4%) 0.64 2,576
    2019-12-01 $193,450 (7.5%) $226,399 (9.5%) 0.65 2,442
    2020-01-01 $192,950 (5.0%) $226,825 (8.5%) 0.64 2,381
    2020-02-01 $192,950 (4.3%) $228,575 (8.8%) 0.63 2,408
    2020-03-01 $195,975 (4.5%) $230,152 (7.3%) 0.61 2,308
    2020-04-01 $193,950 (2.1%) $228,213 (4.3%) 0.61 2,249
    2020-05-01 $202,950 (6.0%) $233,740 (5.4%) 0.62 1,944
    2020-06-01 $210,470 (9.7%) $243,421 (9.5%) 0.62 1,598
    2020-07-01 $217,088 (13.4%) $245,834 (10.7%) 0.63 1,458
    2020-08-01 $216,066 (12.7%) $248,534 (11.2%) 0.62 1,478
    2020-09-01 $215,700 (13.1%) $251,572 (11.9%) 0.62 1,413
    2020-10-01 $225,950 (18.6%) $256,073 (13.1%) 0.65 1,413
    2020-11-01 $232,100 (19.0%) $262,264 (14.6%) 0.68 1,340
    2020-12-01 $228,107 (17.9%) $261,980 (15.7%) 0.68 1,353
    2021-01-01 $230,000 (19.2%) $267,421 (17.9%) 0.69 1,265
    2021-02-01 $230,462 (19.4%) $269,435 (17.9%) 0.67 1,188
    2021-03-01 $234,975 (19.9%) $267,420 (16.2%) 0.67 1,148
    2021-04-01 $237,611 (22.5%) $268,856 (17.8%) 0.64 1,073
    2021-05-01 $245,000 (20.7%) $277,518 (18.7%) 0.65 1,027
    2021-06-01 $248,950 (18.3%) $287,782 (18.2%) 0.66 1,016
    2021-07-01 $249,900 (15.1%) $285,176 (16.0%) 0.66 1,061
    2021-08-01 $247,950 (14.8%) $284,989 (14.7%) 0.66 1,122
    2021-09-01 $247,950 (15.0%) $286,008 (13.7%) 0.66 1,098
    2021-10-01 $250,000 (10.6%) $292,552 (14.3%) 0.67 1,161
    2021-11-01 $253,588 (9.3%) $293,015 (11.7%) 0.68 1,104
    2021-12-01 $255,950 (12.2%) $300,425 (14.7%) 0.69 1,022
    2022-01-01 $261,500 (13.7%) $306,624 (14.7%) 0.71 911
    2022-02-01 $267,656 (16.1%) $310,205 (15.1%) 0.70 881
    2022-03-01 $275,000 (17.0%) $317,585 (18.8%) 0.69 870
    2022-04-01 $280,000 (17.8%) $320,751 (19.3%) 0.67 931
    2022-05-01 $282,600 (15.4%) $329,216 (18.6%) 0.65 1,014
    2022-06-01 $281,600 (13.1%) $332,242 (15.5%) 0.63 1,171
    2022-07-01 $284,950 (14.0%) $333,165 (16.8%) 0.64 1,498
    2022-08-01 $285,475 (15.1%) $329,146 (15.5%) 0.66 1,538
    2022-09-01 $291,225 (17.5%) $334,289 (16.9%) 0.68 1,576
    2022-10-01 $291,725 (16.7%) $333,290 (13.9%) 0.69 1,840
    2022-11-01 $290,975 (14.7%) $328,828 (12.2%) 0.70 1,890
    2022-12-01 $291,250 (13.8%) $329,155 (9.6%) 0.72 1,884
    2023-01-01 $293,475 (12.2%) $333,079 (8.6%) 0.73 1,877
    2023-02-01 $296,975 (11.0%) $336,712 (8.5%) 0.72 1,829
    2023-03-01 $298,938 (8.7%) $342,437 (7.8%) 0.71 1,822
    2023-04-01 $300,030 (7.2%) $350,990 (9.4%) 0.70 1,666
    2023-05-01 $310,000 (9.7%) $355,655 (8.0%) 0.70 1,741
    2023-06-01 $303,888 (7.9%) $352,426 (6.1%) 0.68 1,951
    2023-07-01 $304,800 (7.0%) $352,381 (5.8%) 0.69 2,112
    2023-08-01 $300,950 (5.4%) $352,679 (7.2%) 0.69 2,189
    2023-09-01 $299,500 (2.8%) $352,175 (5.4%) 0.70 2,253
    2023-10-01 $294,950 (1.1%) $348,420 (4.5%) 0.69 2,414
    2023-11-01 $294,213 (1.1%) $345,927 (5.2%) 0.70 2,501
    2023-12-01 $295,000 (1.3%) $344,035 (4.5%) 0.72 2,330
    2024-01-01 $295,000 (0.5%) $339,830 (2.0%) 0.72 2,303
    2024-02-01 $298,570 (0.5%) $340,766 (1.2%) 0.72 2,435
    2024-03-01 $299,500 (0.2%) $345,633 (0.9%) 0.70 2,449
    El Paso's median listing price for 2024-03-01 was $299,500, a difference of $562 (0.2%) versus the prior year and $930 versus the prior month.

    El Paso's median listing price comes in at 70% of the national average.

    El Paso's average listing price for 2024-03-01 was $345,633, a difference of $3,196 (0.9%) versus the prior year and $4,867 versus the prior month.

    For the 2024-03-01 period, El Paso had 2,449 MLS listings, a difference of 14 listings (1%) versus the prior month and 627 listings (34%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - El Paso (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 97 days 1,800 sqft
    2018-02-01 100 days 1,800 sqft
    2018-03-01 86 days 1,803 sqft
    2018-04-01 79 days 1,823 sqft
    2018-05-01 80 days 1,823 sqft
    2018-06-01 80 days 1,843 sqft
    2018-07-01 78 days 1,846 sqft
    2018-08-01 71 days 1,859 sqft
    2018-09-01 71 days 1,859 sqft
    2018-10-01 66 days 1,856 sqft
    2018-11-01 70 days 1,855 sqft
    2018-12-01 73 days 1,852 sqft
    2019-01-01 83 days 1,840 sqft
    2019-02-01 74 days 1,841 sqft
    2019-03-01 69 days 1,869 sqft
    2019-04-01 67 days 1,888 sqft
    2019-05-01 65 days 1,905 sqft
    2019-06-01 64 days 1,913 sqft
    2019-07-01 58 days 1,899 sqft
    2019-08-01 60 days 1,908 sqft
    2019-09-01 65 days 1,899 sqft
    2019-10-01 67 days 1,900 sqft
    2019-11-01 72 days 1,913 sqft
    2019-12-01 79 days 1,892 sqft
    2020-01-01 81 days 1,886 sqft
    2020-02-01 70 days 1,874 sqft
    2020-03-01 66 days 1,884 sqft
    2020-04-01 76 days 1,855 sqft
    2020-05-01 83 days 1,892 sqft
    2020-06-01 76 days 1,903 sqft
    2020-07-01 66 days 1,936 sqft
    2020-08-01 57 days 1,952 sqft
    2020-09-01 46 days 1,909 sqft
    2020-10-01 54 days 1,937 sqft
    2020-11-01 65 days 1,967 sqft
    2020-12-01 68 days 1,954 sqft
    2021-01-01 67 days 1,954 sqft
    2021-02-01 50 days 1,916 sqft
    2021-03-01 50 days 1,925 sqft
    2021-04-01 56 days 1,913 sqft
    2021-05-01 44 days 1,987 sqft
    2021-06-01 42 days 1,987 sqft
    2021-07-01 43 days 1,975 sqft
    2021-08-01 38 days 1,932 sqft
    2021-09-01 44 days 1,937 sqft
    2021-10-01 45 days 1,960 sqft
    2021-11-01 52 days 1,964 sqft
    2021-12-01 65 days 1,959 sqft
    2022-01-01 55 days 1,945 sqft
    2022-02-01 33 days 1,936 sqft
    2022-03-01 36 days 1,910 sqft
    2022-04-01 37 days 1,938 sqft
    2022-05-01 30 days 1,938 sqft
    2022-06-01 34 days 1,930 sqft
    2022-07-01 32 days 1,930 sqft
    2022-08-01 48 days 1,930 sqft
    2022-09-01 52 days 1,941 sqft
    2022-10-01 52 days 1,954 sqft
    2022-11-01 60 days 1,941 sqft
    2022-12-01 68 days 1,941 sqft
    2023-01-01 73 days 1,933 sqft
    2023-02-01 67 days 1,935 sqft
    2023-03-01 60 days 1,930 sqft
    2023-04-01 54 days 1,941 sqft
    2023-05-01 50 days 1,950 sqft
    2023-06-01 53 days 1,941 sqft
    2023-07-01 57 days 1,951 sqft
    2023-08-01 63 days 1,951 sqft
    2023-09-01 64 days 1,941 sqft
    2023-10-01 61 days 1,914 sqft
    2023-11-01 65 days 1,899 sqft
    2023-12-01 74 days 1,894 sqft
    2024-01-01 76 days 1,877 sqft
    2024-02-01 67 days 1,884 sqft
    2024-03-01 58 days 1,897 sqft
    El Paso's median listing age (time on market) for 2024-03-01 was 58 days. This is -3% shorter than the same period one year ago.

    El Paso's median square footage for active listings during the 2024-03-01 period was 1,897 sqft. One year prior, the average listing was 1,930 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).