Fresno FHA Loan Rates, Closing Costs & Stats

FRESNO, CA

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.

Fresno's 125 lenders originated 2,121 FHA loans during 2023. The total origination value was $718,445,000, with an average FHA loan value of $338,729.

Fresno FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Fresno averaged 6.4% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

Fresno's average FHA mortgage closing costs are $9,852.

The average rate for the prior week (2024-06-07) was 6.68% and one month ago for the week of 2024-05-10, the average rate was 6.87%.

The average rate one year ago was 6.42%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.63%.

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

Fresno 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 Fresno level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 447 6.07% $15,687
QUICKEN LOANS, LLC 176 6.16% $13,187
Century Mortgage Company DBA Century Lending Company 139 6.09% $15,545
ALAMEDA MORTGAGE CORPORATION 129 6.48% $16,741
EAGLE HOME MORTGAGE, LLC 110 6.11% $15,441
INSPIRE HOME LOANS INC. 66 5.34% $12,152
Sierra Pacific Mortgage Company, Inc. 49 6.36% $15,730
AMERICAN PACIFIC MORTGAGE CORPORATION 49 6.34% $15,446
PENNYMAC LOAN SERVICES, LLC 37 5.96% $14,133
Paramount Residential Mortgage Group, Inc. 33 6.57% $15,223
CROSSCOUNTRY MORTGAGE, LLC 27 6.65% $15,643
LOANDEPOT.COM, LLC 27 6.39% $13,479
KBHS HOME LOANS, LLC 26 6.57% $20,463
CARDINAL FINANCIAL 24 6.18% $16,366
AMERICAN FINANCIAL NETWORK, INC. 21 6.51% $14,955
SUN WEST MORTGAGE COMPANY, INC. 21 6.56% $15,648
FREEDOM MORTGAGE CORPORATION 21 6.76% $15,604
GUILD MORTGAGE COMPANY 19 6.24% $14,085
PLAZA HOME MORTGAGE, INC. 18 6.55% $17,415
PREMIER MORTGAGE RESOURCES, L.L.C. 18 6.74% $14,444
CMG MORTGAGE, INC. 18 6.02% $17,791
BAY-VALLEY MORTGAGE GROUP 16 6.55% $14,904
LOANPAL, LLC 15 5.95% $15,647
Equity Prime Mortgage LLC 14 6.68% $15,300
BROKER SOLUTIONS, INC. 14 6.34% $15,416
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.29% $14,323
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 12 5.29% $18,064
Flagstar Bank, FSB 12 6.59% $13,193
ARK-LA-TEX FINANCIAL SERVICES, LLC. 12 6.34% $14,974
ALTITUDE FINANCIAL CORPORATION 12 5.95% $9,299
CALCON MUTUAL MORTGAGE LLC 12 7.05% $19,129
OCMBC, INC. 12 6.92% $16,623
Carrington Mortgage Services, LLC 11 6.60% $16,142
DHI MORTGAGE COMPANY, LTD. 11 5.43% $11,164
Lakeview Community Capital, LLC 11 6.07% $14,757
RESIDENTIAL WHOLESALE MORTGAGE, INC. 10 7.16% $13,392
Mr. Cooper ( Nationstar Mortgage ) 10 5.98% $18,570
NEWREZ LLC 9 6.19% $14,637
GUARANTEED RATE, INC. 9 6.40% $12,663
HOMEBRIDGE FINANCIAL SERVICES, INC. 9 6.11% $13,980
Prosperity Home Mortgage, LLC 8 6.12% $12,277
AMERISAVE MORTGAGE CORPORATION 8 5.75% $15,044
CITYWIDE HOME LOANS, LLC 7 6.29% $11,970
FIRST COMMUNITY MORTGAGE, INC. 7 6.59% $11,026
Waterstone Mortgage Corporation 7 6.55% $11,449
U.S. Bank 6 6.08% $13,259
VILLAGE CAPITAL MORTGAGE 6 5.92% $16,998
RESIDENTIAL BANCORP 6 6.54% $16,984
ENVOY MORTGAGE, LTD 6 6.48% $16,326
FBC MORTGAGE, LLC 6 5.70% $15,667
PLANET HOME LENDING, LLC 6 6.19% $13,130
CASTLE & COOKE MORTGAGE, LLC 5 6.50% $18,068
AMERICAN FINANCIAL RESOURCES, INC. 5 6.75% $12,540
LAKEVIEW LOAN SERVICING, LLC 5 6.40% $14,937
NETWORK CAPITAL FUNDING CORPORATION 5 6.25% $11,785
PANORAMA MORTGAGE GROUP, LLC 4 6.66% $15,807
TOWNE MORTGAGE COMPANY 4 5.50% $18,209
VERITAS FUNDING, LLC 4 6.47% $16,581
MASON MCDUFFIE MORTGAGE CORPORATION 4 6.31% $13,586
Franklin Loan Corporation 4 6.25% $13,890
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 6.44% $15,311
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.81% $20,160
Commerce Home Mortgage, Inc. 4 7.03% $14,851
SCENIC OAKS FUNDING, INC. 4 6.13% $17,052
ZILLOW HOME LOANS, LLC 3 7.04% $10,907
BAY EQUITY LLC 3 6.21% $15,102
CALIBER HOME LOANS, INC. 3 5.46% $10,602
Golden Empire Mortgage, Inc. 3 6.67% $15,450
LADERA LENDING, INC. 3 6.79% $16,896
Platinum Home Mortgage Corporation 3 6.63% $16,584
SUMMIT FUNDING, INC. 3 6.66% $13,340
UNION HOME MORTGAGE CORP. 3 7.25% $13,396
ACADEMY MORTGAGE CORPORATION 3 6.33% $16,468
TOP FLITE FINANCIAL, INC. 2 7.13% $18,226
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $12,423
INTELLILOAN, INC. 2 5.88% $15,760
NATIONS DIRECT MORTGAGE, LLC 2 7.25% $12,341
POINT Mortgage 2 6.56% $18,926
OPEN MORTGAGE, LLC 2 6.31% $19,380
S1L, Inc. 2 6.44% $16,281
LAND HOME FINANCIAL SERVICES, INC. 2 6.69% $10,429
MICHIGAN MUTUAL, INC. 2 5.75% $15,385
The Loan Store, Inc. 2 6.06% $17,909
MOUNTAIN WEST FINANCIAL, INC. 2 6.69% $16,947
INTERCAP LENDING INC. 1 5.63% $8,309
PENTAGON FEDERAL CREDIT UNION 1 5.88% $9,911
Performance Financial, Inc. 1 7.25% $18,591
Plains Commerce Bank 1 6.13% $22,876
Hometown Equity Mortgage, LLC 1 6.13% $12,794
AMERICAN FINANCING CORPORATION 1 5.75% $13,408
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 5.75% $14,707
EMM LOANS LLC 1 6.50% $20,572
EMBRACE HOME LOANS, INC. 1 5.25% $12,853
Princeton Mortgage Corporation 1 6.25% $15,457
Cornerstone First Mortgage, Inc 1 6.75% $14,559
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.25% $12,650
Citibank 1 7.25% $10,027
CHURCHILL MORTGAGE CORPORATION 1 6.75% $10,676
CHERRY CREEK MORTGAGE, LLC 1 6.25% $7,253
SECURITYNATIONAL MORTGAGE COMPANY 1 6.38% $10,138
CENTRAL COAST LENDING, INC. 1 6.50% $15,495
VISION ONE MORTGAGE, INC. 1 6.63% $10,239
BEST FINANCE CAPITAL, INC. 1 5.25% $16,968
T2 FINANCIAL LLC 1 6.88% $15,445
The Federal Savings Bank 1 5.75% $14,301
THE GOLDEN 1 1 7.13% $11,179
BECKAM FUNDING CORP. 1 6.75% $23,128
AHL FUNDING 1 6.99% $15,015
United Fidelity Funding Corp. 1 6.75% $13,485
ARC HOME LLC 1 7.13% $24,330
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.13% $13,152
American Mortgage & Equity Consultants, Inc. 1 7.50% $16,318
LOANLEADERS OF AMERICA, INC. 1 5.50% $16,133
Mortgage Research Center, LLC 1 6.99% $5,574
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $11,900
LEADERONE FINANCIAL CORPORATION 1 5.75% $13,371
M&T Bank 1 6.63% $6,971
NATIONWIDE MORTGAGE BANKERS, INC. 1 7.13% $12,386
NBKC BANK 1 6.13% $11,478
KeyBank 1 5.63% $16,026
NFM, INC. 1 7.00% $12,307
NJ LENDERS CORP. 1 5.63% $11,558
NORWICH COMMERCIAL GROUP, INC. 1 5.75% $13,792
JPMorgan Chase Bank 1 5.75% $8,153
INTERNATIONAL CITY MORTGAGE, INC. 1 7.13% $14,103

The top Fresno FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 447 FHA loans originated. Their average total fees are $15,687, which is $2,499 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Fresno FHA lenders (with over 10 loans originated) are ALTITUDE FINANCIAL CORPORATION ($9,299), DHI MORTGAGE COMPANY, LTD. ($11,164), INSPIRE HOME LOANS INC. ($12,152), QUICKEN LOANS, LLC ($13,187) and Flagstar Bank, FSB ($13,193).

The lowest rate Fresno FHA lenders (with over 10 loans originated) are K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. (5.29%), INSPIRE HOME LOANS INC. (5.34%), DHI MORTGAGE COMPANY, LTD. (5.43%), ALTITUDE FINANCIAL CORPORATION (5.95%) and LOANPAL, LLC (5.95%).

Fresno FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Fresno (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 $299,983 (11.6%) $387,404 (6.5%) 1.11 1,262
2018-02-01 $299,575 (11.2%) $389,521 (7.2%) 1.09 1,278
2018-03-01 $300,000 (11.1%) $397,689 (8.6%) 1.05 1,322
2018-04-01 $310,593 (7.5%) $399,753 (6.4%) 1.05 1,389
2018-05-01 $313,000 (4.4%) $407,362 (3.2%) 1.05 1,456
2018-06-01 $315,000 (2.4%) $413,073 (3.0%) 1.05 1,553
2018-07-01 $315,000 (5.0%) $406,358 (1.5%) 1.05 1,634
2018-08-01 $316,500 (5.7%) $400,591 (0.6%) 1.06 1,738
2018-09-01 $312,425 (4.5%) $393,909 (0.9%) 1.05 1,842
2018-10-01 $309,450 (3.2%) $399,082 (2.8%) 1.05 1,909
2018-11-01 $305,000 (0.3%) $395,945 (1.9%) 1.03 1,863
2018-12-01 $305,000 (1.2%) $394,482 (1.8%) 1.05 1,689
2019-01-01 $299,936 (0.0%) $376,876 (-2.7%) 1.04 1,566
2019-02-01 $299,975 (0.1%) $379,081 (-2.7%) 1.01 1,634
2019-03-01 $308,473 (2.8%) $390,744 (-1.8%) 1.01 1,635
2019-04-01 $314,225 (1.2%) $390,572 (-2.3%) 1.00 1,696
2019-05-01 $320,000 (2.2%) $397,458 (-2.4%) 1.00 1,737
2019-06-01 $330,000 (4.8%) $404,158 (-2.2%) 1.03 1,771
2019-07-01 $338,970 (7.6%) $413,200 (1.7%) 1.06 1,737
2019-08-01 $333,000 (5.2%) $408,732 (2.0%) 1.05 1,755
2019-09-01 $328,500 (5.2%) $402,602 (2.2%) 1.05 1,758
2019-10-01 $325,500 (5.2%) $402,388 (0.8%) 1.05 1,732
2019-11-01 $325,000 (6.6%) $405,965 (2.5%) 1.07 1,632
2019-12-01 $325,000 (6.6%) $402,684 (2.1%) 1.08 1,447
2020-01-01 $326,500 (8.9%) $407,507 (8.1%) 1.09 1,249
2020-02-01 $324,933 (8.3%) $400,738 (5.7%) 1.06 1,224
2020-03-01 $338,508 (9.7%) $422,002 (8.0%) 1.06 1,158
2020-04-01 $333,106 (6.0%) $414,708 (6.2%) 1.04 1,236
2020-05-01 $340,000 (6.3%) $426,163 (7.2%) 1.03 1,146
2020-06-01 $345,713 (4.8%) $440,519 (9.0%) 1.02 963
2020-07-01 $351,920 (3.8%) $452,855 (9.6%) 1.02 804
2020-08-01 $350,000 (5.1%) $461,495 (12.9%) 1.00 751
2020-09-01 $353,898 (7.7%) $463,902 (15.2%) 1.01 771
2020-10-01 $349,900 (7.5%) $466,232 (15.9%) 1.00 775
2020-11-01 $352,500 (8.5%) $481,239 (18.5%) 1.03 705
2020-12-01 $344,500 (6.0%) $462,788 (14.9%) 1.02 640
2021-01-01 $350,000 (7.2%) $464,446 (14.0%) 1.04 512
2021-02-01 $349,950 (7.7%) $474,006 (18.3%) 1.02 477
2021-03-01 $354,950 (4.9%) $485,154 (15.0%) 1.01 481
2021-04-01 $375,000 (12.6%) $517,645 (24.8%) 1.02 510
2021-05-01 $385,000 (13.2%) $536,925 (26.0%) 1.02 553
2021-06-01 $399,945 (15.7%) $543,926 (23.5%) 1.05 662
2021-07-01 $399,000 (13.4%) $535,525 (18.3%) 1.05 744
2021-08-01 $399,113 (14.0%) $533,415 (15.6%) 1.06 787
2021-09-01 $399,938 (13.0%) $653,209 (40.8%) 1.07 792
2021-10-01 $399,900 (14.3%) $520,263 (11.6%) 1.07 763
2021-11-01 $401,963 (14.0%) $530,268 (10.2%) 1.07 706
2021-12-01 $417,500 (21.2%) $537,784 (16.2%) 1.13 607
2022-01-01 $409,999 (17.1%) $546,660 (17.7%) 1.11 482
2022-02-01 $393,250 (12.4%) $533,345 (12.5%) 1.02 480
2022-03-01 $407,500 (14.8%) $542,982 (11.9%) 1.02 528
2022-04-01 $426,845 (13.8%) $555,625 (7.3%) 1.02 601
2022-05-01 $440,700 (14.5%) $560,077 (4.3%) 1.01 780
2022-06-01 $441,000 (10.3%) $556,676 (2.3%) 0.98 962
2022-07-01 $439,900 (10.3%) $540,548 (0.9%) 0.99 1,262
2022-08-01 $432,498 (8.4%) $534,011 (0.1%) 1.00 1,274
2022-09-01 $430,850 (7.7%) $528,797 (-19.1%) 1.01 1,275
2022-10-01 $426,200 (6.6%) $524,433 (0.8%) 1.00 1,300
2022-11-01 $419,950 (4.5%) $529,585 (-0.1%) 1.01 1,301
2022-12-01 $425,000 (1.8%) $536,435 (-0.3%) 1.05 1,120
2023-01-01 $429,925 (4.9%) $547,462 (0.2%) 1.07 983
2023-02-01 $427,125 (8.6%) $567,790 (6.5%) 1.03 845
2023-03-01 $429,998 (5.5%) $586,871 (8.1%) 1.01 774
2023-04-01 $445,000 (4.3%) $614,390 (10.6%) 1.03 681
2023-05-01 $458,750 (4.1%) $620,259 (10.8%) 1.04 697
2023-06-01 $471,983 (7.0%) $619,421 (11.3%) 1.06 749
2023-07-01 $475,165 (8.0%) $622,453 (15.2%) 1.08 817
2023-08-01 $463,881 (7.3%) $616,691 (15.5%) 1.07 918
2023-09-01 $457,000 (6.1%) $605,702 (14.5%) 1.06 965
2023-10-01 $452,500 (6.2%) $598,809 (14.2%) 1.06 1,015
2023-11-01 $449,700 (7.1%) $596,237 (12.6%) 1.07 1,049
2023-12-01 $450,000 (5.9%) $607,958 (13.3%) 1.10 1,005
2024-01-01 $445,000 (3.5%) $591,693 (8.1%) 1.09 896
2024-02-01 $454,450 (6.4%) $606,127 (6.8%) 1.09 838
2024-03-01 $450,000 (4.7%) $612,565 (4.4%) 1.06 851
2024-04-01 $458,950 (3.1%) $617,008 (0.4%) 1.07 927
2024-05-01 $477,000 (4.0%) $635,916 (2.5%) 1.08 1,005
Fresno's median listing price for 2024-05-01 was $477,000, a difference of $18,250 (4.0%) versus the prior year and $18,050 versus the prior month.

Fresno's median listing price comes in at 108% of the national average.

Fresno's average listing price for 2024-05-01 was $635,916, a difference of $15,657 (2.5%) versus the prior year and $18,908 versus the prior month.

For the 2024-05-01 period, Fresno had 1,005 MLS listings, a difference of 78 listings (8%) versus the prior month and 308 listings (44%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Fresno (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 58 days 1,831 sqft
2018-02-01 39 days 1,834 sqft
2018-03-01 40 days 1,868 sqft
2018-04-01 41 days 1,885 sqft
2018-05-01 37 days 1,870 sqft
2018-06-01 38 days 1,873 sqft
2018-07-01 39 days 1,860 sqft
2018-08-01 40 days 1,840 sqft
2018-09-01 43 days 1,833 sqft
2018-10-01 46 days 1,828 sqft
2018-11-01 50 days 1,828 sqft
2018-12-01 60 days 1,828 sqft
2019-01-01 60 days 1,811 sqft
2019-02-01 45 days 1,808 sqft
2019-03-01 42 days 1,845 sqft
2019-04-01 39 days 1,870 sqft
2019-05-01 40 days 1,885 sqft
2019-06-01 45 days 1,900 sqft
2019-07-01 46 days 1,906 sqft
2019-08-01 46 days 1,889 sqft
2019-09-01 46 days 1,873 sqft
2019-10-01 47 days 1,862 sqft
2019-11-01 50 days 1,856 sqft
2019-12-01 57 days 1,856 sqft
2020-01-01 62 days 1,833 sqft
2020-02-01 43 days 1,797 sqft
2020-03-01 40 days 1,858 sqft
2020-04-01 42 days 1,854 sqft
2020-05-01 49 days 1,877 sqft
2020-06-01 42 days 1,876 sqft
2020-07-01 37 days 1,875 sqft
2020-08-01 29 days 1,860 sqft
2020-09-01 25 days 1,840 sqft
2020-10-01 26 days 1,828 sqft
2020-11-01 34 days 1,822 sqft
2020-12-01 36 days 1,770 sqft
2021-01-01 39 days 1,769 sqft
2021-02-01 22 days 1,741 sqft
2021-03-01 17 days 1,769 sqft
2021-04-01 15 days 1,823 sqft
2021-05-01 13 days 1,808 sqft
2021-06-01 16 days 1,858 sqft
2021-07-01 21 days 1,853 sqft
2021-08-01 23 days 1,843 sqft
2021-09-01 27 days 1,831 sqft
2021-10-01 26 days 1,791 sqft
2021-11-01 30 days 1,831 sqft
2021-12-01 35 days 1,834 sqft
2022-01-01 33 days 1,782 sqft
2022-02-01 29 days 1,698 sqft
2022-03-01 29 days 1,718 sqft
2022-04-01 26 days 1,770 sqft
2022-05-01 23 days 1,792 sqft
2022-06-01 26 days 1,801 sqft
2022-07-01 31 days 1,792 sqft
2022-08-01 37 days 1,768 sqft
2022-09-01 43 days 1,773 sqft
2022-10-01 46 days 1,747 sqft
2022-11-01 46 days 1,737 sqft
2022-12-01 55 days 1,767 sqft
2023-01-01 59 days 1,783 sqft
2023-02-01 47 days 1,763 sqft
2023-03-01 45 days 1,774 sqft
2023-04-01 44 days 1,800 sqft
2023-05-01 38 days 1,826 sqft
2023-06-01 36 days 1,841 sqft
2023-07-01 36 days 1,836 sqft
2023-08-01 38 days 1,847 sqft
2023-09-01 39 days 1,862 sqft
2023-10-01 40 days 1,860 sqft
2023-11-01 44 days 1,836 sqft
2023-12-01 50 days 1,806 sqft
2024-01-01 57 days 1,799 sqft
2024-02-01 44 days 1,813 sqft
2024-03-01 40 days 1,851 sqft
2024-04-01 39 days 1,872 sqft
2024-05-01 33 days 1,889 sqft
Fresno's median listing age (time on market) for 2024-05-01 was 33 days. This is -11% shorter than the same period one year ago.

Fresno's median square footage for active listings during the 2024-05-01 period was 1,889 sqft. One year prior, the average listing was 1,826 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).