Florence FHA Loan Rates, Closing Costs & Stats

FLORENCE, SC

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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.

    Florence's 93 lenders originated 699 FHA loans during 2024. The total origination value was $152,205,000, with an average FHA loan value of $217,747.

    Florence FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Florence averaged 6.44% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Florence's average FHA mortgage closing costs are $7,533.

    The average rate for the prior week (2025-03-28) was 6.64% and one month ago for the week of 2025-02-28, the average rate was 6.32%.

    The average rate one year ago was 6.84%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.79%.

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

    Florence 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 Florence level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    INSPIRE HOME LOANS INC. 61 5.75% $9,560
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 53 6.54% $10,398
    CROSSCOUNTRY MORTGAGE, LLC 52 6.57% $9,899
    QUICKEN LOANS, LLC 51 6.46% $10,495
    MOVEMENT MORTGAGE, LLC 46 6.52% $9,835
    CMG MORTGAGE, INC. 31 6.56% $10,799
    UNITED WHOLESALE MORTGAGE, LLC 29 6.11% $12,492
    FBC MORTGAGE, LLC 25 5.19% $9,940
    Equity Prime Mortgage LLC 15 7.16% $11,608
    RESOURCE FINANCIAL SERVICES, INC. 14 6.50% $9,465
    MORTGAGE EQUITY PARTNERS LLC 13 6.48% $12,331
    Magnolia Bank 13 6.51% $7,403
    LOANDEPOT.COM, LLC 12 6.48% $7,936
    GSF Mortgage Corporation 11 6.33% $12,063
    FREEDOM MORTGAGE CORPORATION 11 6.28% $9,378
    SUN WEST MORTGAGE COMPANY, INC. 11 6.60% $9,430
    AMERICAN FINANCIAL NETWORK, INC. 9 6.97% $12,033
    Flagstar Bank, FSB 9 6.36% $7,345
    PENNYMAC LOAN SERVICES, LLC 7 5.89% $7,375
    UNION HOME MORTGAGE CORP. 7 7.11% $8,796
    BROKER SOLUTIONS, INC. 7 6.57% $11,016
    DHI MORTGAGE COMPANY, LTD. 7 5.12% $7,001
    Mr. Cooper ( Nationstar Mortgage ) 7 6.54% $12,031
    First Reliance Bank 7 5.86% $8,908
    GUARANTEED RATE, INC. 6 6.97% $9,905
    First Palmetto Bank 5 6.38% $9,239
    First-Citizens Bank & Trust Company 4 5.44% $7,761
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 6.75% $8,843
    GUILD MORTGAGE COMPANY 4 6.22% $10,751
    Truist 3 6.49% $7,854
    LAKEVIEW LOAN SERVICING, LLC 3 6.92% $7,852
    NEWREZ LLC 3 6.92% $6,725
    CARDINAL FINANCIAL 3 6.50% $11,127
    VILLAGE CAPITAL MORTGAGE 3 6.21% $6,946
    AMERISAVE MORTGAGE CORPORATION 3 6.13% $9,462
    South State Bank 3 6.17% $8,273
    T2 FINANCIAL LLC 3 7.33% $10,899
    Ameris Bank 3 6.08% $10,526
    Blue Ridge Bank 2 6.69% $6,261
    Alcova Mortgage LLC 2 6.00% $8,579
    AmeriHome Mortgage Company, LLC 2 6.56% $8,104
    Carrington Mortgage Services, LLC 2 6.25% $7,927
    DIRECT MORTGAGE LOANS, LLC 2 6.25% $9,859
    EQUITY RESOURCES, INC. 2 7.13% $5,173
    First Federal Bank 2 6.69% $7,191
    HOMESIDE FINANCIAL, LLC 2 6.81% $9,809
    Lakeview Community Capital, LLC 2 6.50% $8,465
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $8,403
    Nations Lending Corporation 2 6.25% $12,038
    Paramount Residential Mortgage Group, Inc. 2 6.44% $8,832
    PLANET HOME LENDING, LLC 2 6.06% $8,342
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.38% $10,322
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.88% $9,318
    SOUTHWEST FUNDING, LP 2 6.69% $9,982
    The Loan Store, Inc. 2 5.37% $14,466
    First Heritage Mortgage, LLC 1 5.99% $6,938
    M&T Bank 1 6.50% $12,002
    Barrington Bank & Trust Company, N.A. 1 6.75% $9,383
    NATION ONE MORTGAGE CORPORATION 1 7.13% $5,634
    ZILLOW HOME LOANS, LLC 1 6.75% $9,869
    NEW DAY FINANCIAL, LLC 1 7.38% $3,915
    COUNTRYPLACE MORTGAGE, LTD. 1 6.25% $12,792
    NORWICH COMMERCIAL GROUP, INC. 1 5.75% $10,700
    OCEANSIDE MORTGAGE COMPANY 1 6.00% $6,089
    ONY GLO, INC. 1 7.75% $4,004
    Paramount Bank 1 7.00% $6,728
    Bank of America 1 7.00% $8,076
    Cornerstone First Mortgage, Inc 1 7.25% $9,870
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $9,296
    PLAZA HOME MORTGAGE, INC. 1 6.63% $10,535
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.63% $10,271
    Assurance Financial Group, L.L.C. 1 6.50% $9,145
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 4.75% $11,717
    CHURCHILL MORTGAGE CORPORATION 1 6.00% $7,022
    Renasant Bank 1 5.63% $8,790
    Residential Mortgage Solutions, Inc. 1 6.63% $22,942
    CANOPY MORTGAGE, LLC 1 6.25% $7,852
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.63% $11,953
    SENTE MORTGAGE, INC. 1 6.25% $13,341
    CALCON MUTUAL MORTGAGE LLC 1 6.49% $6,579
    AMERICAN FINANCING CORPORATION 1 4.63% $25,231
    SOUTHWEST STAGE FUNDING, LLC 1 6.88% $6,966
    SUMMIT FUNDING, INC. 1 7.25% $11,121
    1ST SIGNATURE LENDING, LLC 1 7.13% $11,821
    Synovus Bank 1 6.75% $8,861
    LOANPAL, LLC 1 6.75% $13,786
    MASON MCDUFFIE MORTGAGE CORPORATION 1 5.88% $9,616
    MILEND, INC. 1 6.13% $12,126
    LOANLEADERS OF AMERICA, INC. 1 6.13% $11,250
    MORTGAGE INVESTORS GROUP, INC. 1 6.75% $8,202
    Mortgage Research Center, LLC 1 7.25% $7,620
    LADERA LENDING, INC. 1 7.00% $6,941
    INTERLINC MORTGAGE SERVICES, LLC 1 6.13% $7,871

    The top Florence FHA lender as defined by loan originations is INSPIRE HOME LOANS INC., with 61 FHA loans originated. Their average total fees are $9,560, which is $838 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Florence FHA lenders (with over 10 loans originated) are Magnolia Bank ($7,403), LOANDEPOT.COM, LLC ($7,936), FREEDOM MORTGAGE CORPORATION ($9,378), SUN WEST MORTGAGE COMPANY, INC. ($9,430) and RESOURCE FINANCIAL SERVICES, INC. ($9,465).

    The lowest rate Florence FHA lenders (with over 10 loans originated) are FBC MORTGAGE, LLC (5.19%), INSPIRE HOME LOANS INC. (5.75%), UNITED WHOLESALE MORTGAGE, LLC (6.11%), FREEDOM MORTGAGE CORPORATION (6.28%) and GSF Mortgage Corporation (6.33%).

    Florence FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Florence (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 $159,900 (2.8%) $199,158 (4.1%) 0.59 606
    2018-02-01 $166,750 (5.2%) $205,389 (6.9%) 0.61 618
    2018-03-01 $173,550 (8.8%) $208,815 (5.5%) 0.61 651
    2018-04-01 $170,000 (4.1%) $209,606 (1.9%) 0.58 670
    2018-05-01 $179,900 (8.4%) $216,308 (2.7%) 0.60 703
    2018-06-01 $177,450 (5.9%) $215,056 (1.5%) 0.59 714
    2018-07-01 $177,575 (1.5%) $211,010 (-1.4%) 0.59 741
    2018-08-01 $175,625 (1.9%) $206,101 (-3.2%) 0.59 744
    2018-09-01 $175,000 (4.2%) $201,674 (-2.5%) 0.59 698
    2018-10-01 $169,950 (-1.1%) $199,921 (-5.7%) 0.58 681
    2018-11-01 $169,900 (0.0%) $197,445 (-7.5%) 0.58 667
    2018-12-01 $166,500 (1.2%) $195,220 (-0.8%) 0.57 662
    2019-01-01 $168,586 (5.4%) $196,657 (-1.3%) 0.58 640
    2019-02-01 $168,225 (0.9%) $197,626 (-3.8%) 0.57 635
    2019-03-01 $168,500 (-2.9%) $199,443 (-4.5%) 0.55 743
    2019-04-01 $172,425 (1.4%) $203,938 (-2.7%) 0.55 883
    2019-05-01 $182,250 (1.3%) $210,689 (-2.6%) 0.57 862
    2019-06-01 $187,995 (5.9%) $217,241 (1.0%) 0.59 862
    2019-07-01 $186,495 (5.0%) $217,998 (3.3%) 0.58 864
    2019-08-01 $183,336 (4.4%) $214,370 (4.0%) 0.58 855
    2019-09-01 $180,841 (3.3%) $212,232 (5.2%) 0.58 841
    2019-10-01 $179,702 (5.7%) $211,473 (5.8%) 0.58 835
    2019-11-01 $184,950 (8.9%) $211,247 (7.0%) 0.61 827
    2019-12-01 $185,080 (11.2%) $210,364 (7.8%) 0.62 731
    2020-01-01 $185,413 (10.0%) $208,704 (6.1%) 0.62 713
    2020-02-01 $189,900 (12.9%) $206,735 (4.6%) 0.62 767
    2020-03-01 $188,873 (12.1%) $211,485 (6.0%) 0.59 780
    2020-04-01 $189,900 (10.1%) $215,026 (5.4%) 0.59 748
    2020-05-01 $199,000 (9.2%) $221,377 (5.1%) 0.60 723
    2020-06-01 $200,000 (6.4%) $226,102 (4.1%) 0.59 720
    2020-07-01 $192,900 (3.4%) $219,752 (0.8%) 0.56 738
    2020-08-01 $189,900 (3.6%) $221,338 (3.3%) 0.54 686
    2020-09-01 $189,925 (5.0%) $224,469 (5.8%) 0.54 629
    2020-10-01 $190,900 (6.2%) $226,735 (7.2%) 0.55 579
    2020-11-01 $189,950 (2.7%) $227,895 (7.9%) 0.56 571
    2020-12-01 $189,500 (2.4%) $225,837 (7.4%) 0.56 549
    2021-01-01 $189,900 (2.4%) $225,061 (7.8%) 0.57 524
    2021-02-01 $205,000 (8.0%) $232,002 (12.2%) 0.60 536
    2021-03-01 $199,925 (5.9%) $232,147 (9.8%) 0.57 546
    2021-04-01 $214,975 (13.2%) $244,879 (13.9%) 0.58 545
    2021-05-01 $210,000 (5.5%) $245,126 (10.7%) 0.56 541
    2021-06-01 $212,450 (6.2%) $245,289 (8.5%) 0.56 550
    2021-07-01 $207,000 (7.3%) $240,366 (9.4%) 0.55 550
    2021-08-01 $217,100 (14.3%) $625,990 (182.8%) 0.58 577
    2021-09-01 $219,100 (15.4%) $615,937 (174.4%) 0.58 608
    2021-10-01 $217,000 (13.7%) $648,424 (186.0%) 0.58 567
    2021-11-01 $222,525 (17.2%) $658,869 (189.1%) 0.59 556
    2021-12-01 $225,803 (19.2%) $264,916 (17.3%) 0.61 532
    2022-01-01 $235,000 (23.8%) $267,698 (18.9%) 0.64 485
    2022-02-01 $239,225 (16.7%) $272,204 (17.3%) 0.62 483
    2022-03-01 $235,526 (17.8%) $266,348 (14.7%) 0.59 497
    2022-04-01 $235,000 (9.3%) $271,235 (10.8%) 0.56 450
    2022-05-01 $242,450 (15.5%) $275,365 (12.3%) 0.55 517
    2022-06-01 $256,294 (20.6%) $289,683 (18.1%) 0.57 589
    2022-07-01 $264,836 (27.9%) $288,098 (19.9%) 0.60 608
    2022-08-01 $251,019 (15.6%) $281,322 (-55.1%) 0.58 618
    2022-09-01 $267,475 (22.1%) $288,532 (-53.2%) 0.63 610
    2022-10-01 $273,369 (26.0%) $292,545 (-54.9%) 0.64 611
    2022-11-01 $274,497 (23.4%) $287,656 (-56.3%) 0.66 585
    2022-12-01 $269,900 (19.5%) $283,900 (7.2%) 0.67 543
    2023-01-01 $259,748 (10.5%) $278,672 (4.1%) 0.64 528
    2023-02-01 $254,500 (6.4%) $272,318 (0.0%) 0.61 533
    2023-03-01 $259,923 (10.4%) $283,507 (6.4%) 0.61 493
    2023-04-01 $259,000 (10.2%) $282,398 (4.1%) 0.60 519
    2023-05-01 $266,223 (9.8%) $290,526 (5.5%) 0.60 498
    2023-06-01 $273,700 (6.8%) $299,595 (3.4%) 0.62 505
    2023-07-01 $275,490 (4.0%) $300,807 (4.4%) 0.63 517
    2023-08-01 $274,349 (9.3%) $298,468 (6.1%) 0.63 508
    2023-09-01 $271,576 (1.5%) $292,625 (1.4%) 0.63 510
    2023-10-01 $266,995 (-2.3%) $289,915 (-0.9%) 0.63 522
    2023-11-01 $260,313 (-5.2%) $284,980 (-0.9%) 0.62 490
    2023-12-01 $257,900 (-4.5%) $279,264 (-1.6%) 0.63 454
    2024-01-01 $252,450 (-2.8%) $266,068 (-4.5%) 0.62 455
    2024-02-01 $248,406 (-2.4%) $265,706 (-2.4%) 0.60 501
    2024-03-01 $249,500 (-4.0%) $277,230 (-2.2%) 0.59 513
    2024-04-01 $250,635 (-3.2%) $284,376 (0.7%) 0.58 556
    2024-05-01 $249,950 (-6.1%) $282,610 (-2.7%) 0.57 585
    2024-06-01 $249,900 (-8.7%) $290,040 (-3.2%) 0.57 594
    2024-07-01 $248,498 (-9.8%) $295,805 (-1.7%) 0.57 611
    2024-08-01 $249,900 (-8.9%) $293,501 (-1.7%) 0.58 626
    2024-09-01 $249,900 (-8.0%) $291,648 (-0.3%) 0.59 641
    2024-10-01 $249,300 (-6.6%) $292,639 (0.9%) 0.59 666
    2024-11-01 $249,900 (-4.0%) $291,049 (2.1%) 0.60 639
    2024-12-01 $251,475 (-2.5%) $296,088 (6.0%) 0.62 583
    2025-01-01 $249,900 (-1.0%) $303,047 (13.9%) 0.62 583
    2025-02-01 $248,875 (0.2%) $302,267 (13.8%) 0.60 615
    2025-03-01 $250,000 (0.2%) $308,200 (11.2%) 0.00 633
    Florence's median listing price for 2025-03-01 was $250,000, a difference of $500 (0.2%) versus the prior year and $1,125 versus the prior month.

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

    Florence's average listing price for 2025-03-01 was $308,200, a difference of $30,970 (11.2%) versus the prior year and $5,933 versus the prior month.

    For the 2025-03-01 period, Florence had 633 MLS listings, a difference of 18 listings (3%) versus the prior month and 120 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Florence (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 96 days 1,890 sqft
    2018-02-01 96 days 1,952 sqft
    2018-03-01 73 days 2,030 sqft
    2018-04-01 68 days 2,074 sqft
    2018-05-01 67 days 2,100 sqft
    2018-06-01 71 days 2,086 sqft
    2018-07-01 77 days 2,082 sqft
    2018-08-01 81 days 2,045 sqft
    2018-09-01 89 days 2,008 sqft
    2018-10-01 89 days 1,922 sqft
    2018-11-01 94 days 1,861 sqft
    2018-12-01 93 days 1,849 sqft
    2019-01-01 93 days 1,868 sqft
    2019-02-01 94 days 1,902 sqft
    2019-03-01 88 days 1,904 sqft
    2019-04-01 82 days 1,921 sqft
    2019-05-01 80 days 1,980 sqft
    2019-06-01 79 days 2,020 sqft
    2019-07-01 78 days 2,075 sqft
    2019-08-01 80 days 2,028 sqft
    2019-09-01 82 days 1,985 sqft
    2019-10-01 82 days 1,981 sqft
    2019-11-01 79 days 1,981 sqft
    2019-12-01 88 days 1,984 sqft
    2020-01-01 95 days 1,984 sqft
    2020-02-01 89 days 2,003 sqft
    2020-03-01 70 days 2,009 sqft
    2020-04-01 74 days 2,030 sqft
    2020-05-01 78 days 2,072 sqft
    2020-06-01 81 days 2,092 sqft
    2020-07-01 69 days 2,043 sqft
    2020-08-01 66 days 2,002 sqft
    2020-09-01 75 days 2,035 sqft
    2020-10-01 74 days 2,010 sqft
    2020-11-01 59 days 1,887 sqft
    2020-12-01 61 days 1,851 sqft
    2021-01-01 61 days 1,902 sqft
    2021-02-01 46 days 2,070 sqft
    2021-03-01 49 days 2,040 sqft
    2021-04-01 50 days 2,046 sqft
    2021-05-01 50 days 2,044 sqft
    2021-06-01 48 days 1,975 sqft
    2021-07-01 45 days 1,885 sqft
    2021-08-01 44 days 1,933 sqft
    2021-09-01 44 days 1,964 sqft
    2021-10-01 54 days 1,880 sqft
    2021-11-01 56 days 1,913 sqft
    2021-12-01 52 days 1,910 sqft
    2022-01-01 61 days 1,908 sqft
    2022-02-01 54 days 1,902 sqft
    2022-03-01 44 days 1,877 sqft
    2022-04-01 46 days 1,837 sqft
    2022-05-01 38 days 1,826 sqft
    2022-06-01 37 days 1,916 sqft
    2022-07-01 44 days 1,956 sqft
    2022-08-01 54 days 1,945 sqft
    2022-09-01 55 days 1,964 sqft
    2022-10-01 57 days 2,002 sqft
    2022-11-01 64 days 2,037 sqft
    2022-12-01 74 days 1,961 sqft
    2023-01-01 81 days 1,954 sqft
    2023-02-01 75 days 1,926 sqft
    2023-03-01 65 days 1,947 sqft
    2023-04-01 54 days 1,910 sqft
    2023-05-01 51 days 1,960 sqft
    2023-06-01 51 days 1,961 sqft
    2023-07-01 50 days 1,956 sqft
    2023-08-01 52 days 1,914 sqft
    2023-09-01 53 days 1,913 sqft
    2023-10-01 52 days 1,914 sqft
    2023-11-01 56 days 1,832 sqft
    2023-12-01 66 days 1,823 sqft
    2024-01-01 72 days 1,724 sqft
    2024-02-01 60 days 1,737 sqft
    2024-03-01 51 days 1,755 sqft
    2024-04-01 51 days 1,739 sqft
    2024-05-01 52 days 1,751 sqft
    2024-06-01 55 days 1,750 sqft
    2024-07-01 54 days 1,782 sqft
    2024-08-01 57 days 1,773 sqft
    2024-09-01 60 days 1,774 sqft
    2024-10-01 61 days 1,771 sqft
    2024-11-01 61 days 1,764 sqft
    2024-12-01 75 days 1,768 sqft
    2025-01-01 79 days 1,728 sqft
    2025-02-01 76 days 1,736 sqft
    2025-03-01 0 days 1,767 sqft
    Florence'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.

    Florence's median square footage for active listings during the 2025-03-01 period was 1,767 sqft. One year prior, the average listing was 1,755 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).