Fort Smith FHA Loan Rates, Closing Costs & Stats

FORT SMITH, AR-OK

  • 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.

    Fort Smith's 83 lenders originated 838 FHA loans during 2024. The total origination value was $156,300,000, with an average FHA loan value of $186,516.

    Fort Smith FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fort Smith averaged 6.4% for the week of 2025-07-11, compared to the national average (all FHA variants) of 6.523% for the same period.

    Fort Smith's average FHA mortgage closing costs are $5,943.

    The average rate for the prior week (2025-07-04) was 6.74% and one month ago for the week of 2025-06-06, the average rate was 6.57%.

    The average rate one year ago was 6.71%.

    For refis of the same type during the week of 2025-07-11, the average rate was 6.34%.

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

    Fort Smith 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 Fort Smith level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Firstar Bank 147 6.17% $6,936
    Arvest Bank 93 6.53% $6,780
    QUICKEN LOANS, LLC 75 6.45% $9,368
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 61 6.38% $7,893
    BancorpSouth 30 6.18% $5,986
    FIRST WESTERN MORTGAGE, INC. 26 6.05% $5,958
    First Financial Bank 24 6.28% $7,477
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 21 6.57% $8,724
    The First National Bank of Fort Smith 19 5.93% $8,697
    SWBC MORTGAGE CORPORATION 15 6.19% $4,462
    FIRST COMMUNITY MORTGAGE, INC. 14 6.58% $9,279
    FLAT BRANCH MORTGAGE, INC. 14 7.01% $8,674
    FREEDOM MORTGAGE CORPORATION 10 6.29% $8,250
    LOANDEPOT.COM, LLC 10 6.07% $9,999
    UNITED 10 6.58% $6,306
    Priority Bank 10 5.99% $7,144
    UNITED WHOLESALE MORTGAGE, LLC 9 6.21% $10,239
    Simmons Bank 9 6.10% $7,388
    Bank of England 9 6.04% $6,667
    Regions Bank 9 6.38% $6,983
    ON Q FINANCIAL, INC. 9 7.14% $7,943
    BROKER SOLUTIONS, INC. 8 6.70% $10,343
    PENNYMAC LOAN SERVICES, LLC 7 6.02% $8,494
    Chambers Bank 6 6.46% $6,206
    T2 FINANCIAL LLC 6 6.27% $8,649
    Sierra Pacific Mortgage Company, Inc. 5 6.50% $8,859
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.95% $8,986
    AMERISAVE MORTGAGE CORPORATION 4 6.38% $10,326
    Paramount Residential Mortgage Group, Inc. 4 7.16% $5,047
    Centennial Bank 4 5.94% $6,968
    Carrington Mortgage Services, LLC 4 6.16% $9,730
    Mr. Cooper ( Nationstar Mortgage ) 3 6.71% $15,291
    GENEVA FINANCIAL, LLC 3 6.67% $9,982
    Flagstar Bank, FSB 3 7.08% $5,501
    NEWREZ LLC 3 6.75% $5,442
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.33% $10,922
    LOANPAL, LLC 3 5.79% $10,821
    AMERICAN FINANCING CORPORATION 3 6.08% $12,812
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.00% $19,882
    AMERICAN FINANCIAL NETWORK, INC. 2 6.75% $8,633
    American Mortgage Bank, LLC 2 6.50% $6,809
    Equity Prime Mortgage LLC 2 8.00% $7,355
    EVERETT FINANCIAL, INC. 2 6.38% $6,986
    GUILD MORTGAGE COMPANY 2 6.69% $5,954
    Mortgage Research Center, LLC 2 6.69% $3,133
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $13,820
    PHH Mortgage Corporation 2 5.63% $8,061
    American Bank of Oklahoma 2 5.75% $11,743
    RELIANCE FIRST CAPITAL, LLC 2 6.25% $14,635
    The Central Trust Bank 2 6.50% $6,694
    MID AMERICA MORTGAGE, INC. 1 6.38% $4,260
    MORTGAGE ACCESS CORP. 1 6.13% $7,439
    ZILLOW HOME LOANS, LLC 1 6.75% $8,671
    MOVEMENT MORTGAGE, LLC 1 7.75% $8,474
    First Security Bank 1 6.00% $8,300
    The Federal Savings Bank 1 7.25% $6,908
    First Federal Bank 1 6.38% $6,515
    ENDEAVOR CAPITAL, LLC. 1 6.75% $8,853
    ENCORE BANK 1 5.88% $7,338
    DEVELOPER'S MORTGAGE COMPANY 1 7.13% $8,686
    ASSOCIATED MORTGAGE CORPORATION 1 6.75% $7,444
    POLARIS HOME FUNDING CORP. 1 6.25% $11,001
    AmeriHome Mortgage Company, LLC 1 5.99% $6,159
    DAS Acquisition Company, LLC 1 7.50% $11,412
    CROSSCOUNTRY MORTGAGE, LLC 1 6.63% $9,560
    Chickasaw Community Bank 1 6.38% $8,185
    CARDINAL FINANCIAL 1 5.99% $17,223
    American Mortgage & Equity Consultants, Inc. 1 6.87% $13,950
    RESIDENTIAL BANCORP 1 6.75% $12,997
    ROYAL UNITED MORTGAGE LLC 1 6.75% $6,605
    SENTE MORTGAGE, INC. 1 5.88% $8,290
    BETTER MORTGAGE CORPORATION 1 7.63% $8,060
    Bell Bank 1 6.75% $6,877
    STOCKTON MORTGAGE CORPORATION 1 6.25% $8,612
    Stride Bank 1 6.75% $7,262
    Barrington Bank & Trust Company, N.A. 1 6.75% $6,094
    GUARANTEED RATE, INC. 1 7.25% $6,889
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 6.50% $6,421
    Great Plains National Bank 1 6.25% $12,449
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $9,357
    LIBERTY HOME MORTGAGE CORPORATION 1 7.50% $15,094
    GERSHMAN INVESTMENT CORP. 1 6.50% $7,065
    Gateway First Bank 1 5.75% $14,901

    The top Fort Smith FHA lender as defined by loan originations is Firstar Bank, with 147 FHA loans originated. Their average total fees are $6,936, which is $156 higher than the next largest lender, Arvest Bank.

    The lowest fee Fort Smith FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($4,462), FIRST WESTERN MORTGAGE, INC. ($5,958), BancorpSouth ($5,986), UNITED ($6,306) and Arvest Bank ($6,780).

    The lowest rate Fort Smith FHA lenders (with over 10 loans originated) are The First National Bank of Fort Smith (5.93%), Priority Bank (5.99%), FIRST WESTERN MORTGAGE, INC. (6.05%), LOANDEPOT.COM, LLC (6.07%) and Firstar Bank (6.17%).

    Fort Smith FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    FORT SMITH, AR-OK CRAWFORD 2022 $420,680 $538,650 $651,050 $809,150
    FORT SMITH, AR-OK FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    FORT SMITH, AR-OK SEBASTIAN 2022 $420,680 $538,650 $651,050 $809,150
    FORT SMITH, AR-OK SEQUOYAH 2022 $420,680 $538,650 $651,050 $809,150
    FORT SMITH, AR-OK CRAWFORD 2023 $472,030 $604,400 $730,525 $907,900
    FORT SMITH, AR-OK FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
    FORT SMITH, AR-OK SEBASTIAN 2023 $472,030 $604,400 $730,525 $907,900
    FORT SMITH, AR-OK SEQUOYAH 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fort Smith (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 $155,925 (1.6%) $225,227 (2.8%) 0.58 1,046
    2018-02-01 $157,450 (5.0%) $226,504 (4.6%) 0.57 1,022
    2018-03-01 $164,900 (9.2%) $233,718 (7.2%) 0.58 1,017
    2018-04-01 $162,450 (2.9%) $233,974 (1.8%) 0.55 1,042
    2018-05-01 $162,900 (2.2%) $232,532 (-1.2%) 0.54 1,067
    2018-06-01 $162,900 (1.8%) $234,102 (-2.4%) 0.54 1,088
    2018-07-01 $160,000 (3.2%) $230,325 (-0.3%) 0.53 1,110
    2018-08-01 $165,000 (9.3%) $231,432 (3.2%) 0.55 1,115
    2018-09-01 $159,900 (6.6%) $229,257 (2.4%) 0.54 1,137
    2018-10-01 $159,900 (4.5%) $227,327 (1.5%) 0.54 1,148
    2018-11-01 $159,500 (4.3%) $223,339 (-1.1%) 0.54 1,165
    2018-12-01 $157,500 (3.6%) $221,840 (-0.4%) 0.54 1,123
    2019-01-01 $158,300 (1.5%) $227,008 (0.8%) 0.55 1,078
    2019-02-01 $159,900 (1.6%) $232,498 (2.7%) 0.54 1,051
    2019-03-01 $164,186 (-0.4%) $239,539 (2.5%) 0.54 1,029
    2019-04-01 $169,250 (4.2%) $246,310 (5.3%) 0.54 1,028
    2019-05-01 $173,700 (6.6%) $248,415 (6.8%) 0.54 1,007
    2019-06-01 $175,000 (7.4%) $252,924 (8.0%) 0.55 985
    2019-07-01 $172,425 (7.8%) $253,357 (10.0%) 0.54 977
    2019-08-01 $169,268 (2.6%) $247,052 (6.8%) 0.54 989
    2019-09-01 $168,245 (5.2%) $241,247 (5.2%) 0.54 1,004
    2019-10-01 $166,725 (4.3%) $236,737 (4.1%) 0.54 1,006
    2019-11-01 $165,000 (3.5%) $235,510 (5.5%) 0.54 974
    2019-12-01 $164,500 (4.4%) $235,047 (6.0%) 0.55 926
    2020-01-01 $165,000 (4.2%) $233,384 (2.8%) 0.55 885
    2020-02-01 $165,000 (3.2%) $240,789 (3.6%) 0.54 884
    2020-03-01 $171,200 (4.3%) $246,419 (2.9%) 0.54 829
    2020-04-01 $175,850 (3.9%) $251,773 (2.2%) 0.55 814
    2020-05-01 $181,000 (4.2%) $258,862 (4.2%) 0.55 755
    2020-06-01 $195,000 (11.4%) $272,439 (7.7%) 0.57 696
    2020-07-01 $199,900 (15.9%) $282,626 (11.6%) 0.58 646
    2020-08-01 $199,900 (18.1%) $286,167 (15.8%) 0.57 609
    2020-09-01 $195,000 (15.9%) $297,686 (23.4%) 0.56 539
    2020-10-01 $199,900 (19.9%) $295,650 (24.9%) 0.57 522
    2020-11-01 $197,520 (19.7%) $305,723 (29.8%) 0.58 477
    2020-12-01 $187,000 (13.7%) $297,689 (26.7%) 0.56 453
    2021-01-01 $184,900 (12.1%) $304,372 (30.4%) 0.55 415
    2021-02-01 $199,900 (21.2%) $323,511 (34.4%) 0.58 349
    2021-03-01 $187,125 (9.3%) $319,027 (29.5%) 0.53 328
    2021-04-01 $195,000 (10.9%) $329,446 (30.9%) 0.53 327
    2021-05-01 $223,250 (23.3%) $347,381 (34.2%) 0.59 305
    2021-06-01 $224,850 (15.3%) $335,384 (23.1%) 0.59 339
    2021-07-01 $219,000 (9.6%) $322,988 (14.3%) 0.58 423
    2021-08-01 $203,450 (1.8%) $317,270 (10.9%) 0.54 434
    2021-09-01 $200,000 (2.6%) $318,324 (6.9%) 0.53 444
    2021-10-01 $216,500 (8.3%) $328,458 (11.1%) 0.58 411
    2021-11-01 $219,900 (11.3%) $332,475 (8.8%) 0.59 357
    2021-12-01 $219,975 (17.6%) $337,405 (13.3%) 0.60 341
    2022-01-01 $215,000 (16.3%) $337,168 (10.8%) 0.58 314
    2022-02-01 $224,500 (12.3%) $346,148 (7.0%) 0.58 294
    2022-03-01 $217,500 (16.2%) $334,516 (4.9%) 0.54 325
    2022-04-01 $219,950 (12.8%) $336,342 (2.1%) 0.52 321
    2022-05-01 $235,000 (5.3%) $337,732 (-2.8%) 0.54 347
    2022-06-01 $229,950 (2.3%) $329,285 (-1.8%) 0.51 386
    2022-07-01 $239,450 (9.3%) $340,407 (5.4%) 0.54 431
    2022-08-01 $235,000 (15.5%) $337,118 (6.3%) 0.54 460
    2022-09-01 $230,000 (15.0%) $309,296 (-2.8%) 0.54 487
    2022-10-01 $239,938 (10.8%) $311,398 (-5.2%) 0.56 524
    2022-11-01 $234,450 (6.6%) $324,817 (-2.3%) 0.56 526
    2022-12-01 $229,900 (4.5%) $321,912 (-4.6%) 0.57 492
    2023-01-01 $233,123 (8.4%) $324,205 (-3.8%) 0.58 482
    2023-02-01 $241,050 (7.4%) $330,455 (-4.5%) 0.58 447
    2023-03-01 $240,000 (10.3%) $338,068 (1.1%) 0.57 424
    2023-04-01 $245,000 (11.4%) $348,241 (3.5%) 0.57 413
    2023-05-01 $256,975 (9.4%) $347,590 (2.9%) 0.58 415
    2023-06-01 $263,500 (14.6%) $353,389 (7.3%) 0.59 445
    2023-07-01 $269,900 (12.7%) $356,265 (4.7%) 0.61 485
    2023-08-01 $276,975 (17.9%) $364,666 (8.2%) 0.64 516
    2023-09-01 $279,900 (21.7%) $365,246 (18.1%) 0.65 551
    2023-10-01 $274,725 (14.5%) $361,531 (16.1%) 0.65 626
    2023-11-01 $270,950 (15.6%) $358,069 (10.2%) 0.65 632
    2023-12-01 $265,000 (15.3%) $349,154 (8.5%) 0.65 653
    2024-01-01 $271,000 (16.3%) $349,392 (7.8%) 0.66 621
    2024-02-01 $258,375 (7.2%) $343,966 (4.1%) 0.62 630
    2024-03-01 $256,000 (6.7%) $340,483 (0.7%) 0.60 620
    2024-04-01 $276,250 (12.8%) $358,086 (2.8%) 0.64 604
    2024-05-01 $279,250 (8.7%) $365,858 (5.3%) 0.64 642
    2024-06-01 $275,000 (4.4%) $362,097 (2.5%) 0.63 661
    2024-07-01 $279,900 (3.7%) $371,235 (4.2%) 0.64 669
    2024-08-01 $280,000 (1.1%) $371,932 (2.0%) 0.65 716
    2024-09-01 $277,450 (-0.9%) $362,620 (-0.7%) 0.65 728
    2024-10-01 $272,000 (-1.0%) $355,872 (-1.6%) 0.64 803
    2024-11-01 $270,000 (-0.4%) $345,599 (-3.5%) 0.65 876
    2024-12-01 $278,225 (5.0%) $356,705 (2.2%) 0.69 720
    2025-01-01 $279,600 (3.2%) $361,542 (3.5%) 0.70 701
    2025-02-01 $277,225 (7.3%) $362,525 (5.4%) 0.67 689
    2025-03-01 $283,950 (10.9%) $363,965 (6.9%) 0.67 723
    2025-04-01 $276,375 (0.1%) $366,791 (2.4%) 0.64 731
    2025-05-01 $275,000 (-1.5%) $354,785 (-3.0%) 0.63 805
    2025-06-01 $278,000 (1.1%) $361,530 (-0.2%) 0.63 828
    Fort Smith's median listing price for 2025-06-01 was $278,000, a difference of $3,000 (1.1%) versus the prior year and $3,000 versus the prior month.

    Fort Smith's median listing price comes in at 63% of the national average.

    Fort Smith's average listing price for 2025-06-01 was $361,530, a difference of $-567 (-0.2%) versus the prior year and $6,745 versus the prior month.

    For the 2025-06-01 period, Fort Smith had 828 MLS listings, a difference of 23 listings (3%) versus the prior month and 167 listings (25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fort Smith (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 91 days 1,842 sqft
    2018-02-01 90 days 1,855 sqft
    2018-03-01 78 days 1,912 sqft
    2018-04-01 68 days 1,918 sqft
    2018-05-01 65 days 1,920 sqft
    2018-06-01 62 days 1,922 sqft
    2018-07-01 67 days 1,922 sqft
    2018-08-01 73 days 1,941 sqft
    2018-09-01 76 days 1,900 sqft
    2018-10-01 78 days 1,894 sqft
    2018-11-01 79 days 1,857 sqft
    2018-12-01 85 days 1,843 sqft
    2019-01-01 93 days 1,818 sqft
    2019-02-01 90 days 1,825 sqft
    2019-03-01 82 days 1,869 sqft
    2019-04-01 72 days 1,916 sqft
    2019-05-01 67 days 1,947 sqft
    2019-06-01 75 days 1,964 sqft
    2019-07-01 74 days 1,952 sqft
    2019-08-01 72 days 1,926 sqft
    2019-09-01 72 days 1,900 sqft
    2019-10-01 72 days 1,886 sqft
    2019-11-01 75 days 1,863 sqft
    2019-12-01 85 days 1,862 sqft
    2020-01-01 90 days 1,875 sqft
    2020-02-01 81 days 1,874 sqft
    2020-03-01 72 days 1,902 sqft
    2020-04-01 72 days 1,945 sqft
    2020-05-01 74 days 1,992 sqft
    2020-06-01 65 days 1,997 sqft
    2020-07-01 66 days 2,023 sqft
    2020-08-01 65 days 2,010 sqft
    2020-09-01 59 days 2,010 sqft
    2020-10-01 52 days 2,031 sqft
    2020-11-01 54 days 2,004 sqft
    2020-12-01 62 days 1,923 sqft
    2021-01-01 68 days 1,920 sqft
    2021-02-01 57 days 1,949 sqft
    2021-03-01 42 days 1,799 sqft
    2021-04-01 32 days 1,822 sqft
    2021-05-01 32 days 1,887 sqft
    2021-06-01 28 days 1,900 sqft
    2021-07-01 28 days 1,888 sqft
    2021-08-01 33 days 1,866 sqft
    2021-09-01 36 days 1,840 sqft
    2021-10-01 44 days 1,894 sqft
    2021-11-01 49 days 1,869 sqft
    2021-12-01 50 days 1,901 sqft
    2022-01-01 52 days 1,904 sqft
    2022-02-01 36 days 1,853 sqft
    2022-03-01 31 days 1,805 sqft
    2022-04-01 32 days 1,800 sqft
    2022-05-01 30 days 1,781 sqft
    2022-06-01 31 days 1,799 sqft
    2022-07-01 36 days 1,832 sqft
    2022-08-01 39 days 1,836 sqft
    2022-09-01 46 days 1,806 sqft
    2022-10-01 48 days 1,818 sqft
    2022-11-01 55 days 1,834 sqft
    2022-12-01 61 days 1,806 sqft
    2023-01-01 69 days 1,824 sqft
    2023-02-01 68 days 1,848 sqft
    2023-03-01 61 days 1,850 sqft
    2023-04-01 51 days 1,864 sqft
    2023-05-01 41 days 1,861 sqft
    2023-06-01 47 days 1,865 sqft
    2023-07-01 49 days 1,861 sqft
    2023-08-01 50 days 1,873 sqft
    2023-09-01 51 days 1,863 sqft
    2023-10-01 50 days 1,857 sqft
    2023-11-01 58 days 1,870 sqft
    2023-12-01 68 days 1,834 sqft
    2024-01-01 85 days 1,843 sqft
    2024-02-01 79 days 1,799 sqft
    2024-03-01 60 days 1,783 sqft
    2024-04-01 52 days 1,822 sqft
    2024-05-01 49 days 1,861 sqft
    2024-06-01 55 days 1,854 sqft
    2024-07-01 59 days 1,858 sqft
    2024-08-01 58 days 1,878 sqft
    2024-09-01 58 days 1,848 sqft
    2024-10-01 60 days 1,840 sqft
    2024-11-01 66 days 1,807 sqft
    2024-12-01 76 days 1,852 sqft
    2025-01-01 86 days 1,852 sqft
    2025-02-01 86 days 1,843 sqft
    2025-03-01 62 days 1,864 sqft
    2025-04-01 57 days 1,879 sqft
    2025-05-01 57 days 1,883 sqft
    2025-06-01 57 days 1,897 sqft
    Fort Smith's median listing age (time on market) for 2025-06-01 was 57 days. This is 4% longer than the same period one year ago.

    Fort Smith's median square footage for active listings during the 2025-06-01 period was 1,897 sqft. One year prior, the average listing was 1,854 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).