Evansville FHA Loan Rates, Closing Costs & Stats

EVANSVILLE, IN-KY

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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.

    Evansville's 89 lenders originated 1,030 FHA loans during 2024. The total origination value was $201,710,000, with an average FHA loan value of $195,835.

    Evansville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Evansville averaged 6.56% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Evansville's average FHA mortgage closing costs are $5,837.

    The average rate for the prior week (2025-03-28) was 6.66% and one month ago for the week of 2025-02-28, the average rate was 6.55%.

    The average rate one year ago was 6.77%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.47%.

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

    Evansville 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 Evansville level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    MORTGAGE MASTERS OF INDIANA, INC. 201 6.64% $7,094
    EVANSVILLE TEACHERS 111 6.46% $6,168
    QUICKEN LOANS, LLC 89 6.45% $9,659
    FBC MORTGAGE, LLC 50 4.85% $9,434
    UNITED WHOLESALE MORTGAGE, LLC 39 6.36% $8,909
    FREEDOM MORTGAGE CORPORATION 39 6.44% $10,020
    Equity Prime Mortgage LLC 38 7.08% $7,235
    PENNYMAC LOAN SERVICES, LLC 30 6.25% $6,654
    INTERLINC MORTGAGE SERVICES, LLC 21 6.89% $5,149
    Fifth Third Bank 19 6.52% $6,283
    LOANDEPOT.COM, LLC 13 6.44% $7,556
    American Mortgage & Equity Consultants, Inc. 13 6.57% $7,800
    German American Bank 12 6.57% $6,062
    RUOFF MORTGAGE COMPANY, INC. 11 6.74% $5,131
    NEWREZ LLC 10 6.73% $7,820
    Bank of England 10 6.50% $6,987
    Carrington Mortgage Services, LLC 9 6.19% $11,115
    CALCON MUTUAL MORTGAGE LLC 9 6.87% $7,295
    FAIR WAY LENDING LLC 8 6.70% $7,887
    Plains Commerce Bank 8 6.77% $5,399
    Old National Bank 8 5.97% $7,343
    ZILLOW HOME LOANS, LLC 8 6.77% $8,267
    MOVEMENT MORTGAGE, LLC 8 6.89% $8,266
    CARDINAL FINANCIAL 8 6.42% $12,120
    MUTUAL OF OMAHA MORTGAGE, INC. 7 6.89% $10,757
    CROSSCOUNTRY MORTGAGE, LLC 7 6.24% $9,131
    BROKER SOLUTIONS, INC. 7 6.98% $8,681
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 7.03% $4,598
    PLAZA HOME MORTGAGE, INC. 6 6.73% $5,011
    ENVOY MORTGAGE, LTD 6 7.08% $8,487
    AMERISAVE MORTGAGE CORPORATION 6 6.17% $11,595
    Flagstar Bank, FSB 5 6.84% $8,018
    GVC MORTGAGE, INC. 5 7.25% $7,879
    Mr. Cooper ( Nationstar Mortgage ) 5 6.80% $11,343
    GENEVA FINANCIAL, LLC 5 7.10% $7,036
    DAS Acquisition Company, LLC 4 6.75% $8,634
    Mortgage Research Center, LLC 4 7.28% $2,851
    UNION HOME MORTGAGE CORP. 3 6.33% $7,894
    PLANET HOME LENDING, LLC 3 5.92% $4,131
    MID AMERICA MORTGAGE, INC. 3 8.04% $6,319
    CHURCHILL MORTGAGE CORPORATION 3 6.75% $7,942
    VILLAGE CAPITAL MORTGAGE 3 6.00% $6,095
    LEADERONE FINANCIAL CORPORATION 3 6.42% $7,050
    Century Mortgage Company DBA Century Lending Company 3 6.88% $8,206
    Northpointe Bank 3 6.46% $8,200
    LOANPAL, LLC 3 5.96% $9,885
    ROYAL UNITED MORTGAGE LLC 3 6.58% $8,725
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.38% $7,069
    The Federal Savings Bank 3 6.29% $13,575
    Paramount Residential Mortgage Group, Inc. 3 6.63% $10,196
    HOMESIDE FINANCIAL, LLC 3 6.83% $6,424
    GSF Mortgage Corporation 2 6.19% $9,184
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 5.75% $14,625
    FIRST COMMUNITY MORTGAGE, INC. 2 6.13% $10,094
    AMERICAN FINANCIAL NETWORK, INC. 2 6.19% $7,292
    INDIANA MEMBERS CREDIT UNION 2 6.69% $6,956
    JPMorgan Chase Bank 2 6.50% $5,580
    LAKEVIEW LOAN SERVICING, LLC 2 7.00% $8,664
    Magnolia Bank 2 6.75% $5,174
    POLARIS HOME FUNDING CORP. 2 7.13% $12,414
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.25% $4,696
    SENTE MORTGAGE, INC. 2 7.00% $8,649
    TOP FLITE FINANCIAL, INC. 2 6.88% $9,688
    INTERCAP LENDING INC. 1 6.25% $7,088
    AXIA FINANCIAL, LLC 1 7.75% $4,817
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $6,608
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.75% $3,097
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $4,863
    Regions Bank 1 6.25% $5,306
    RELIANCE FIRST CAPITAL, LLC 1 6.38% $14,579
    FIRST MORTGAGE COMPANY, INC. 1 6.25% $8,174
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.25% $6,695
    WesBanco 1 5.75% $11,062
    Servion, Inc. 1 6.75% $9,704
    SOUTHWEST FUNDING, LP 1 7.25% $14,383
    STOCKTON MORTGAGE CORPORATION 1 6.75% $15,357
    Stock Yards Bank & Trust Company 1 7.13% $3,510
    SUN WEST MORTGAGE COMPANY, INC. 1 5.88% $13,281
    T2 FINANCIAL LLC 1 6.75% $8,912
    ENDEAVOR CAPITAL, LLC. 1 6.25% $13,045
    The Union Bank Company 1 5.75% $7,695
    AmeriHome Mortgage Company, LLC 1 6.13% $4,566
    TOTAL MORTGAGE SERVICES, LLC 1 6.75% $9,367
    TOWNE MORTGAGE COMPANY 1 6.00% $6,216
    CMG MORTGAGE, INC. 1 6.63% $17,104
    NETWORK CAPITAL FUNDING CORPORATION 1 5.88% $9,864
    LIBERTY HOME MORTGAGE CORPORATION 1 6.88% $7,077
    Lakeview Community Capital, LLC 1 6.25% $5,729
    Ixonia Bank 1 6.00% $6,095

    The top Evansville FHA lender as defined by loan originations is MORTGAGE MASTERS OF INDIANA, INC., with 201 FHA loans originated. Their average total fees are $7,094, which is $926 higher than the next largest lender, EVANSVILLE TEACHERS.

    The lowest fee Evansville FHA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($5,131), INTERLINC MORTGAGE SERVICES, LLC ($5,149), German American Bank ($6,062), EVANSVILLE TEACHERS ($6,168) and Fifth Third Bank ($6,283).

    The lowest rate Evansville FHA lenders (with over 10 loans originated) are FBC MORTGAGE, LLC (4.85%), PENNYMAC LOAN SERVICES, LLC (6.25%), UNITED WHOLESALE MORTGAGE, LLC (6.36%), FREEDOM MORTGAGE CORPORATION (6.44%) and LOANDEPOT.COM, LLC (6.44%).

    Evansville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    EVANSVILLE, IN-KY POSEY 2022 $420,680 $538,650 $651,050 $809,150
    EVANSVILLE, IN-KY VANDERBURGH 2022 $420,680 $538,650 $651,050 $809,150
    EVANSVILLE, IN-KY WARRICK 2022 $420,680 $538,650 $651,050 $809,150
    EVANSVILLE, IN-KY HENDERSON 2022 $420,680 $538,650 $651,050 $809,150
    EVANSVILLE, IN-KY POSEY 2023 $472,030 $604,400 $730,525 $907,900
    EVANSVILLE, IN-KY VANDERBURGH 2023 $472,030 $604,400 $730,525 $907,900
    EVANSVILLE, IN-KY WARRICK 2023 $472,030 $604,400 $730,525 $907,900
    EVANSVILLE, IN-KY HENDERSON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Evansville (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 $149,900 (13.8%) $196,453 (12.4%) 0.56 806
    2018-02-01 $151,400 (15.4%) $200,485 (11.8%) 0.55 752
    2018-03-01 $172,250 (23.1%) $212,525 (14.9%) 0.60 673
    2018-04-01 $173,925 (24.3%) $219,841 (16.2%) 0.59 642
    2018-05-01 $170,475 (13.7%) $223,778 (11.8%) 0.57 658
    2018-06-01 $169,900 (17.3%) $224,475 (13.9%) 0.57 739
    2018-07-01 $164,900 (8.1%) $216,989 (8.5%) 0.55 787
    2018-08-01 $162,800 (11.9%) $209,485 (1.3%) 0.55 819
    2018-09-01 $159,900 (10.3%) $209,499 (-1.7%) 0.54 821
    2018-10-01 $163,200 (5.0%) $207,898 (-4.0%) 0.55 851
    2018-11-01 $160,725 (0.8%) $202,973 (-6.2%) 0.54 867
    2018-12-01 $155,000 (8.5%) $194,372 (0.8%) 0.53 824
    2019-01-01 $152,450 (1.7%) $188,617 (-4.0%) 0.53 795
    2019-02-01 $157,475 (4.0%) $192,805 (-3.8%) 0.53 734
    2019-03-01 $171,329 (-0.5%) $206,682 (-2.8%) 0.56 688
    2019-04-01 $179,900 (3.4%) $219,932 (0.0%) 0.57 661
    2019-05-01 $179,300 (5.2%) $224,964 (0.5%) 0.56 687
    2019-06-01 $179,900 (5.9%) $226,497 (0.9%) 0.56 698
    2019-07-01 $171,875 (4.2%) $222,687 (2.6%) 0.54 727
    2019-08-01 $160,873 (-1.2%) $214,183 (2.2%) 0.51 780
    2019-09-01 $154,757 (-3.2%) $208,062 (-0.7%) 0.50 828
    2019-10-01 $150,680 (-7.7%) $204,585 (-1.6%) 0.49 857
    2019-11-01 $146,450 (-8.9%) $201,109 (-0.9%) 0.48 789
    2019-12-01 $139,825 (-9.8%) $195,692 (0.7%) 0.47 721
    2020-01-01 $133,750 (-12.3%) $191,931 (1.8%) 0.45 645
    2020-02-01 $139,900 (-11.2%) $198,231 (2.8%) 0.46 535
    2020-03-01 $172,450 (0.7%) $222,365 (7.6%) 0.54 465
    2020-04-01 $178,400 (-0.8%) $226,171 (2.8%) 0.56 467
    2020-05-01 $179,900 (0.3%) $240,661 (7.0%) 0.55 431
    2020-06-01 $189,675 (5.4%) $251,955 (11.2%) 0.56 411
    2020-07-01 $184,675 (7.5%) $245,863 (10.4%) 0.54 406
    2020-08-01 $189,900 (18.0%) $252,300 (17.8%) 0.54 383
    2020-09-01 $178,450 (15.3%) $239,698 (15.2%) 0.51 386
    2020-10-01 $176,950 (17.4%) $230,908 (12.9%) 0.51 373
    2020-11-01 $164,900 (12.6%) $226,944 (12.9%) 0.48 395
    2020-12-01 $149,948 (7.2%) $209,718 (7.2%) 0.45 378
    2021-01-01 $159,450 (19.2%) $207,914 (8.3%) 0.48 306
    2021-02-01 $163,750 (17.1%) $221,136 (11.6%) 0.48 217
    2021-03-01 $164,450 (-4.6%) $223,171 (0.4%) 0.47 189
    2021-04-01 $185,000 (3.7%) $222,851 (-1.5%) 0.50 187
    2021-05-01 $184,900 (2.8%) $226,840 (-5.7%) 0.49 192
    2021-06-01 $204,750 (8.0%) $253,239 (0.5%) 0.54 229
    2021-07-01 $197,350 (6.9%) $248,295 (1.0%) 0.52 297
    2021-08-01 $176,700 (-7.0%) $236,496 (-6.3%) 0.47 348
    2021-09-01 $181,300 (1.6%) $234,531 (-2.2%) 0.48 355
    2021-10-01 $189,900 (7.3%) $240,234 (4.0%) 0.51 338
    2021-11-01 $192,444 (16.7%) $244,465 (7.7%) 0.51 317
    2021-12-01 $177,425 (18.3%) $243,877 (16.3%) 0.48 286
    2022-01-01 $209,450 (31.4%) $250,978 (20.7%) 0.57 232
    2022-02-01 $219,450 (34.0%) $261,165 (18.1%) 0.57 168
    2022-03-01 $199,450 (21.3%) $248,741 (11.5%) 0.50 166
    2022-04-01 $218,800 (18.3%) $261,577 (17.4%) 0.52 200
    2022-05-01 $230,000 (24.4%) $282,961 (24.7%) 0.53 241
    2022-06-01 $249,900 (22.1%) $289,718 (14.4%) 0.56 294
    2022-07-01 $230,000 (16.5%) $276,044 (11.2%) 0.52 375
    2022-08-01 $229,675 (30.0%) $282,886 (19.6%) 0.53 384
    2022-09-01 $220,600 (21.7%) $285,077 (21.6%) 0.52 395
    2022-10-01 $234,700 (23.6%) $292,326 (21.7%) 0.55 419
    2022-11-01 $241,475 (25.5%) $287,893 (17.8%) 0.58 450
    2022-12-01 $249,900 (40.9%) $291,828 (19.7%) 0.62 424
    2023-01-01 $260,544 (24.4%) $311,291 (24.0%) 0.65 364
    2023-02-01 $272,900 (24.4%) $340,693 (30.5%) 0.66 310
    2023-03-01 $273,425 (37.1%) $356,427 (43.3%) 0.64 274
    2023-04-01 $299,900 (37.1%) $353,623 (35.2%) 0.70 283
    2023-05-01 $284,700 (23.8%) $356,155 (25.9%) 0.65 298
    2023-06-01 $299,309 (19.8%) $366,350 (26.5%) 0.67 310
    2023-07-01 $299,734 (30.3%) $375,519 (36.0%) 0.68 301
    2023-08-01 $281,900 (22.7%) $339,407 (20.0%) 0.65 342
    2023-09-01 $250,000 (13.3%) $310,149 (8.8%) 0.58 392
    2023-10-01 $249,250 (6.2%) $297,642 (1.8%) 0.59 475
    2023-11-01 $239,900 (-0.7%) $292,125 (1.5%) 0.57 530
    2023-12-01 $239,900 (-4.0%) $282,605 (-3.2%) 0.59 484
    2024-01-01 $235,000 (-9.8%) $279,668 (-10.2%) 0.57 465
    2024-02-01 $241,450 (-11.5%) $283,675 (-16.7%) 0.58 421
    2024-03-01 $245,000 (-10.4%) $292,753 (-17.9%) 0.58 383
    2024-04-01 $237,400 (-20.8%) $290,067 (-18.0%) 0.55 411
    2024-05-01 $251,250 (-11.8%) $308,458 (-13.4%) 0.57 435
    2024-06-01 $249,900 (-16.5%) $312,635 (-14.7%) 0.57 487
    2024-07-01 $249,900 (-16.6%) $311,057 (-17.2%) 0.57 492
    2024-08-01 $240,000 (-14.9%) $301,780 (-11.1%) 0.56 531
    2024-09-01 $243,700 (-2.5%) $289,298 (-6.7%) 0.57 580
    2024-10-01 $245,750 (-1.4%) $295,382 (-0.8%) 0.58 625
    2024-11-01 $249,900 (4.2%) $300,818 (3.0%) 0.60 660
    2024-12-01 $264,900 (10.4%) $305,342 (8.1%) 0.66 577
    2025-01-01 $269,000 (14.5%) $314,394 (12.4%) 0.67 495
    2025-02-01 $264,000 (9.3%) $308,800 (8.9%) 0.64 471
    2025-03-01 $265,000 (8.2%) $321,349 (9.8%) 0.00 472
    Evansville's median listing price for 2025-03-01 was $265,000, a difference of $20,000 (8.2%) versus the prior year and $1,000 versus the prior month.

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

    Evansville's average listing price for 2025-03-01 was $321,349, a difference of $28,596 (9.8%) versus the prior year and $12,549 versus the prior month.

    For the 2025-03-01 period, Evansville had 472 MLS listings, a difference of 1 listings (0%) versus the prior month and 89 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Evansville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 81 days 1,885 sqft
    2018-02-01 82 days 1,846 sqft
    2018-03-01 73 days 1,965 sqft
    2018-04-01 55 days 1,997 sqft
    2018-05-01 45 days 1,973 sqft
    2018-06-01 43 days 1,958 sqft
    2018-07-01 45 days 1,918 sqft
    2018-08-01 50 days 1,903 sqft
    2018-09-01 57 days 1,904 sqft
    2018-10-01 60 days 1,939 sqft
    2018-11-01 60 days 1,873 sqft
    2018-12-01 67 days 1,861 sqft
    2019-01-01 74 days 1,842 sqft
    2019-02-01 72 days 1,845 sqft
    2019-03-01 68 days 1,913 sqft
    2019-04-01 60 days 2,012 sqft
    2019-05-01 47 days 1,984 sqft
    2019-06-01 52 days 1,971 sqft
    2019-07-01 52 days 1,947 sqft
    2019-08-01 52 days 1,897 sqft
    2019-09-01 52 days 1,845 sqft
    2019-10-01 53 days 1,815 sqft
    2019-11-01 65 days 1,819 sqft
    2019-12-01 80 days 1,744 sqft
    2020-01-01 87 days 1,704 sqft
    2020-02-01 87 days 1,734 sqft
    2020-03-01 59 days 1,884 sqft
    2020-04-01 54 days 1,904 sqft
    2020-05-01 57 days 1,916 sqft
    2020-06-01 50 days 1,990 sqft
    2020-07-01 45 days 1,913 sqft
    2020-08-01 46 days 1,920 sqft
    2020-09-01 35 days 1,888 sqft
    2020-10-01 36 days 1,790 sqft
    2020-11-01 41 days 1,782 sqft
    2020-12-01 46 days 1,645 sqft
    2021-01-01 58 days 1,690 sqft
    2021-02-01 59 days 1,653 sqft
    2021-03-01 31 days 1,690 sqft
    2021-04-01 24 days 1,813 sqft
    2021-05-01 23 days 1,787 sqft
    2021-06-01 22 days 1,862 sqft
    2021-07-01 24 days 1,886 sqft
    2021-08-01 25 days 1,800 sqft
    2021-09-01 39 days 1,799 sqft
    2021-10-01 37 days 1,822 sqft
    2021-11-01 35 days 1,803 sqft
    2021-12-01 45 days 1,773 sqft
    2022-01-01 54 days 1,827 sqft
    2022-02-01 49 days 1,802 sqft
    2022-03-01 29 days 1,665 sqft
    2022-04-01 19 days 1,809 sqft
    2022-05-01 20 days 1,851 sqft
    2022-06-01 22 days 1,959 sqft
    2022-07-01 26 days 1,824 sqft
    2022-08-01 36 days 1,881 sqft
    2022-09-01 40 days 1,909 sqft
    2022-10-01 43 days 1,920 sqft
    2022-11-01 45 days 1,902 sqft
    2022-12-01 56 days 1,895 sqft
    2023-01-01 64 days 1,972 sqft
    2023-02-01 60 days 2,036 sqft
    2023-03-01 47 days 2,037 sqft
    2023-04-01 38 days 2,008 sqft
    2023-05-01 32 days 2,014 sqft
    2023-06-01 38 days 2,033 sqft
    2023-07-01 36 days 2,031 sqft
    2023-08-01 31 days 1,981 sqft
    2023-09-01 36 days 1,940 sqft
    2023-10-01 36 days 1,856 sqft
    2023-11-01 41 days 1,754 sqft
    2023-12-01 51 days 1,728 sqft
    2024-01-01 60 days 1,722 sqft
    2024-02-01 56 days 1,746 sqft
    2024-03-01 53 days 1,800 sqft
    2024-04-01 42 days 1,769 sqft
    2024-05-01 42 days 1,876 sqft
    2024-06-01 42 days 1,855 sqft
    2024-07-01 43 days 1,838 sqft
    2024-08-01 43 days 1,813 sqft
    2024-09-01 41 days 1,799 sqft
    2024-10-01 44 days 1,803 sqft
    2024-11-01 49 days 1,824 sqft
    2024-12-01 58 days 1,848 sqft
    2025-01-01 72 days 1,868 sqft
    2025-02-01 71 days 1,830 sqft
    2025-03-01 0 days 1,868 sqft
    Evansville'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.

    Evansville's median square footage for active listings during the 2025-03-01 period was 1,868 sqft. One year prior, the average listing was 1,800 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).