Greeley FHA Loan Rates, Closing Costs & Stats

GREELEY, CO

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.

Greeley's 169 lenders originated 3,618 FHA loans during 2021. The total origination value was $1,182,880,000, with an average FHA loan value of $326,943.

Greeley FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Greeley averaged 6.25% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Greeley's average FHA mortgage closing costs are $9,563.

The average rate for the prior week (2022-11-25) was 6.37% and one month ago for the week of 2022-10-28, the average rate was 6.81%.

The average rate one year ago was 3.54%.

For refis of the same type during the week of 2022-12-02, the average rate was 5.96%.

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

Greeley 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 Greeley level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
AMERICAN FINANCING CORPORATION 290 2.87% $9,853
PRIMARY RESIDENTIAL MORTGAGE, INC. 202 3.06% $12,073
QUICKEN LOANS, LLC 166 2.64% $8,500
CROSSCOUNTRY MORTGAGE, LLC 135 3.19% $10,876
UNITED WHOLESALE MORTGAGE, LLC 134 2.68% $9,443
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 130 3.24% $12,588
VAN DYK MORTGAGE CORPORATION 112 3.04% $11,375
CORNERSTONE HOME LENDING, INC. 92 3.16% $11,634
CALIBER HOME LOANS, INC. 91 2.84% $9,096
LOANDEPOT.COM, LLC 90 3.04% $11,672
UNIVERSAL LENDING CORPORATION 86 3.16% $12,178
GUILD MORTGAGE COMPANY 79 3.08% $11,765
LAKEVIEW LOAN SERVICING, LLC 77 2.83% $6,455
DHI MORTGAGE COMPANY, LTD. 73 2.96% $12,975
BROKER SOLUTIONS, INC. 69 3.15% $10,985
CHERRY CREEK MORTGAGE, LLC 66 3.18% $5,791
FREEDOM MORTGAGE CORPORATION 65 2.62% $6,646
Mr. Cooper ( Nationstar Mortgage ) 63 3.06% $5,787
HOME POINT FINANCIAL CORPORATION 61 2.69% $9,832
Gateway First Bank 47 3.38% $10,758
PENNYMAC LOAN SERVICES, LLC 42 2.86% $7,293
Paramount Residential Mortgage Group, Inc. 38 3.21% $11,548
NEWREZ LLC 36 2.83% $6,785
Loan Simple, Inc. 33 3.11% $12,483
Nations Lending Corporation 27 3.13% $14,053
MEGASTAR FINANCIAL CORP. 26 2.99% $11,649
HOMEAMERICAN MORTGAGE CORPORATION 26 2.77% $6,977
ACADEMY MORTGAGE CORPORATION 24 3.11% $10,678
Amerifirst Financial, Inc. 23 3.19% $12,455
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 23 2.96% $9,675
Northpointe Bank 22 3.19% $12,403
PLANET HOME LENDING, LLC 21 2.92% $9,219
Lakeview Community Capital, LLC 21 2.92% $5,808
S1L, Inc. 20 3.14% $12,938
VILLAGE CAPITAL MORTGAGE 20 2.84% $4,111
FINANCE OF AMERICA MORTGAGE LLC 19 2.83% $9,260
Carrington Mortgage Services, LLC 19 3.31% $10,245
INSPIRE HOME LOANS INC. 19 3.09% $10,687
Elevations Credit Union 17 2.87% $10,112
GROUP MORTGAGE, LLC 17 3.12% $10,957
CITYWIDE HOME LOANS, LLC 16 3.33% $13,676
CELEBRITY HOME LOANS, LLC 16 3.03% $11,890
First National Bank of Omaha 16 3.06% $10,723
HOMEBRIDGE FINANCIAL SERVICES, INC. 16 2.70% $7,485
MOVEMENT MORTGAGE, LLC 16 3.15% $8,573
HOME MORTGAGE ALLIANCE, LLC 16 3.24% $12,630
Bank of England 14 3.18% $11,608
BOKF 14 3.01% $11,266
First Western Trust Bank 14 2.58% $7,629
MORTGAGE SOLUTIONS OF COLORADO, LLC 12 3.18% $11,753
NOVA FINANCIAL & INVESTMENT CORPORATION 12 2.97% $7,385
AMERICAN FINANCIAL NETWORK, INC. 11 3.25% $12,502
AmeriHome Mortgage Company, LLC 11 2.83% $6,095
Bank of Colorado 11 3.23% $10,598
Hometown Lenders, Inc. 10 3.08% $12,799
InterContinental Capital Group, Inc 9 2.53% $9,298
Commerce Home Mortgage, Inc. 9 3.15% $11,338
SOUTHWEST FUNDING, LP 8 3.23% $11,993
THRIVE MORTGAGE, LLC 8 3.09% $12,092
AMERISAVE MORTGAGE CORPORATION 8 2.81% $10,235
SUN WEST MORTGAGE COMPANY, INC. 7 2.73% $9,150
LOANPAL, LLC 7 2.63% $11,999
SECURITYNATIONAL MORTGAGE COMPANY 7 3.07% $11,893
Equity Prime Mortgage LLC 7 3.27% $8,332
CMG MORTGAGE, INC. 7 2.95% $10,178
AMCAP MORTGAGE, LTD. 7 3.82% $9,488
Network Funding, L.P. 7 3.00% $13,002
Century Mortgage Company DBA Century Lending Company 7 2.88% $8,497
NBH Bank 6 3.06% $9,418
First Guaranty Mortgage Corporation 6 2.65% $7,055
MOUNTAIN WEST FINANCIAL, INC. 6 3.23% $11,860
EVERETT FINANCIAL, INC. 6 3.04% $9,160
The Federal Savings Bank 6 3.17% $8,093
GUARANTEED RATE AFFINITY, LLC 6 2.90% $11,665
ALL WESTERN MORTGAGE, INC. 6 3.33% $12,291
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 3.88% $11,562
CHURCHILL MORTGAGE CORPORATION 5 2.98% $10,293
PLAZA HOME MORTGAGE, INC. 5 2.65% $7,567
KBHS HOME LOANS, LLC 5 3.40% $15,370
Financial Funding Solutions, Inc. 5 3.25% $11,719
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 3.55% $11,878
Flagstar Bank, FSB 4 2.60% $7,707
STEARNS LENDING, LLC 4 2.75% $9,934
HOMESIDE FINANCIAL, LLC 4 2.97% $11,817
SUMMIT FUNDING, INC. 4 3.41% $12,148
SWBC MORTGAGE CORPORATION 4 2.97% $8,355
IDEAL HOME LOANS LLC 4 2.78% $10,196
J. VIRGIL, INC. 4 2.72% $11,488
Colten Mortgage, LLC 4 3.06% $12,604
LEADERONE FINANCIAL CORPORATION 4 2.63% $8,825
NEST HOME LENDING, LLC 4 3.16% $10,648
AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.63% $12,672
NATIONS DIRECT MORTGAGE, LLC 3 3.33% $10,670
OCMBC, INC. 3 3.04% $12,286
MID AMERICA MORTGAGE, INC. 3 4.04% $8,860
V.I.P. MORTGAGE, INC. 3 3.21% $13,008
BAY EQUITY LLC 3 3.42% $12,013
PANORAMA MORTGAGE GROUP, LLC 3 3.17% $12,509
American Mortgage & Equity Consultants, Inc. 3 2.96% $9,886
M2 Lending Solutions, LLC 3 3.33% $13,891
AMERICAN FINANCIAL RESOURCES, INC. 3 3.67% $13,539
JPMorgan Chase Bank 3 2.91% $9,233
Independent Bank 3 3.25% $10,430
NP, Inc. 3 2.96% $10,065
ARC HOME LLC 3 2.75% $14,156
TOWNE MORTGAGE COMPANY 3 3.13% $7,659
FIRST CENTENNIAL MORTGAGE CORPORATION 2 3.38% $11,011
First Home Bank 2 2.88% $10,275
FIRST NATIONS HOME FINANCE CORPORATION 2 2.69% $7,812
Franklin Loan Corporation 2 3.13% $11,488
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 3.13% $10,532
DRAPER AND KRAMER MORTGAGE CORP. 2 3.31% $11,887
DIRECTORS MORTGAGE, INC. 2 3.13% $11,967
Hometown Equity Mortgage, LLC 2 3.81% $9,889
JLB CORPORATION 2 2.88% $8,271
LAND HOME FINANCIAL SERVICES, INC. 2 2.38% $7,929
Magnolia Bank 2 3.06% $11,213
MUTUAL OF OMAHA MORTGAGE, INC. 2 2.44% $8,109
Bank of the West 2 3.63% $9,305
NFM, INC. 2 3.38% $11,398
ZILLOW HOME LOANS, LLC 2 3.00% $9,494
PARTNERS UNITED FINANCIAL, LLC 2 2.88% $9,152
RESIDENTIAL BANCORP. 2 3.19% $14,591
Residential Mortgage Solutions, Inc. 2 2.75% $9,193
SOVEREIGN LENDING GROUP INCORPORATED 2 2.50% $12,257
Sunflower Bank 2 2.88% $11,585
TOP FLITE FINANCIAL, INC. 2 3.25% $18,745
Peoples Bank 1 3.75% $9,927
PHH Mortgage Corporation 1 2.50% $10,239
MICHIGAN MUTUAL, INC. 1 2.75% $8,412
CLEARPATH LENDING 1 3.25% $4,875
LOANLEADERS OF AMERICA, INC. 1 3.13% $16,123
KELLER MORTGAGE, LLC 1 3.13% $9,959
Prosperity Home Mortgage, LLC 1 3.50% $10,790
JMAC LENDING, INC. 1 3.00% $7,960
Waterstone Mortgage Corporation 1 3.38% $12,507
Wells Fargo Bank 1 3.00% $9,251
DIRECT MORTGAGE, CORP. 1 2.50% $8,740
EAGLE HOME MORTGAGE, LLC 1 3.00% $12,517
EMM LOANS LLC 1 2.88% $14,157
SOUTHWEST STAGE FUNDING, LLC 1 3.75% $12,442
WESTERN EXPRESS LENDING 1 3.25% $7,086
Ent Credit Union 1 3.88% $11,381
Strong Home Mortgage, LLC 1 2.50% $6,565
GUARANTY HOME MORTGAGE CORPORATION 1 2.88% $7,688
Summit Mortgage Corporation 1 3.63% $15,759
WESTERRA CREDIT UNION 1 2.75% $7,245
GUARANTEED RATE, INC. 1 2.38% $5,822
GSF Mortgage Corporation 1 2.50% $10,798
T2 FINANCIAL LLC 1 3.13% $16,964
Glacier Bank 1 3.13% $7,566
The Home Loan Expert LLC 1 2.75% $8,938
GENEVA FINANCIAL, LLC 1 4.25% $7,961
FirstBank 1 2.38% $6,624
FAY SERVICING, LLC 1 3.00% $2,546
UNION HOME MORTGAGE CORP. 1 3.75% $10,051
UNITED SECURITY FINANCIAL CORP 1 2.88% $4,288
Florida Capital Bank 1 2.25% $9,289
Flanagan State Bank 1 3.88% $15,251
U.S. Bank 1 2.50% $8,888
FBC MORTGAGE, LLC 1 2.75% $8,457
First Federal Bank 1 2.88% $9,951
FIRST COLONY MORTGAGE CORPORATION 1 3.25% $9,962
OCEANSIDE MORTGAGE COMPANY 1 2.75% $5,406
NETWORK CAPITAL FUNDING CORPORATION 1 3.75% $10,907
Barrington Bank & Trust Company, N.A. 1 2.88% $12,066
BECKAM FUNDING CORP. 1 3.25% $8,597
Wallick & Volk, Inc. 1 3.75% $17,696
MORIA DEVELOPMENT, INC. 1 3.13% $8,168

The top Greeley FHA lender as defined by loan originations is AMERICAN FINANCING CORPORATION, with 290 FHA loans originated. Their average total fees are $9,853, which is $2,220 lower than the next largest lender, PRIMARY RESIDENTIAL MORTGAGE, INC..

The lowest fee Greeley FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($4,111), Mr. Cooper ( Nationstar Mortgage ) ($5,787), CHERRY CREEK MORTGAGE, LLC ($5,791), Lakeview Community Capital, LLC ($5,808) and AmeriHome Mortgage Company, LLC ($6,095).

The lowest rate Greeley FHA lenders (with over 10 loans originated) are First Western Trust Bank (2.58%), FREEDOM MORTGAGE CORPORATION (2.62%), QUICKEN LOANS, LLC (2.64%), UNITED WHOLESALE MORTGAGE, LLC (2.68%) and HOME POINT FINANCIAL CORPORATION (2.69%).

Greeley FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
GREELEY, CO WELD 2022 $483,000 $618,300 $747,400 $928,850

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Greeley (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 $401,250 (9.1%) $464,810 (5.3%) 1.49 699
2018-02-01 $402,116 (4.9%) $474,923 (3.8%) 1.46 676
2018-03-01 $409,900 (7.9%) $480,427 (5.0%) 1.44 672
2018-04-01 $399,950 (2.7%) $471,870 (1.3%) 1.36 684
2018-05-01 $409,775 (2.9%) $490,747 (3.6%) 1.37 681
2018-06-01 $409,450 (2.4%) $487,340 (3.8%) 1.37 752
2018-07-01 $398,475 (1.9%) $488,104 (6.2%) 1.33 803
2018-08-01 $395,400 (-0.2%) $473,595 (1.2%) 1.32 869
2018-09-01 $395,000 (-1.2%) $466,824 (-0.5%) 1.33 969
2018-10-01 $390,000 (-3.7%) $465,376 (-2.0%) 1.32 1,043
2018-11-01 $395,474 (-1.2%) $467,214 (-0.8%) 1.34 1,026
2018-12-01 $397,250 (-0.7%) $468,124 (-0.1%) 1.37 928
2019-01-01 $395,292 (-1.5%) $472,627 (1.7%) 1.36 864
2019-02-01 $393,957 (-2.0%) $469,090 (-1.2%) 1.33 856
2019-03-01 $406,407 (-0.9%) $475,358 (-1.1%) 1.33 896
2019-04-01 $411,357 (2.9%) $479,937 (1.7%) 1.31 962
2019-05-01 $412,100 (0.6%) $477,077 (-2.8%) 1.29 993
2019-06-01 $409,500 (0.0%) $472,420 (-3.1%) 1.28 1,112
2019-07-01 $400,000 (0.4%) $462,733 (-5.2%) 1.25 1,167
2019-08-01 $399,900 (1.1%) $463,047 (-2.2%) 1.27 1,189
2019-09-01 $399,900 (1.2%) $463,805 (-0.7%) 1.28 1,179
2019-10-01 $399,875 (2.5%) $464,294 (-0.2%) 1.29 1,163
2019-11-01 $402,000 (1.7%) $471,202 (0.9%) 1.32 1,081
2019-12-01 $404,813 (1.9%) $478,431 (2.2%) 1.35 954
2020-01-01 $416,975 (5.5%) $497,607 (5.3%) 1.39 784
2020-02-01 $425,000 (7.9%) $503,052 (7.2%) 1.39 692
2020-03-01 $437,000 (7.5%) $508,526 (7.0%) 1.37 717
2020-04-01 $425,000 (3.3%) $500,903 (4.4%) 1.33 859
2020-05-01 $425,000 (3.1%) $501,252 (5.1%) 1.29 971
2020-06-01 $424,903 (3.8%) $504,093 (6.7%) 1.25 937
2020-07-01 $432,050 (8.0%) $512,694 (10.8%) 1.25 849
2020-08-01 $424,579 (6.2%) $511,522 (10.5%) 1.22 829
2020-09-01 $425,195 (6.3%) $515,576 (11.2%) 1.22 790
2020-10-01 $428,795 (7.2%) $517,667 (11.5%) 1.23 684
2020-11-01 $428,598 (6.6%) $521,468 (10.7%) 1.25 633
2020-12-01 $424,825 (4.9%) $518,848 (8.5%) 1.26 543
2021-01-01 $442,300 (6.1%) $550,249 (10.6%) 1.32 458
2021-02-01 $455,844 (7.3%) $579,184 (15.1%) 1.33 392
2021-03-01 $461,900 (5.7%) $581,234 (14.3%) 1.31 387
2021-04-01 $474,538 (11.7%) $591,199 (18.0%) 1.28 374
2021-05-01 $475,000 (11.8%) $573,241 (14.4%) 1.26 358
2021-06-01 $482,450 (13.5%) $576,376 (14.3%) 1.27 380
2021-07-01 $484,900 (12.2%) $580,472 (13.2%) 1.28 454
2021-08-01 $499,990 (17.8%) $589,243 (15.2%) 1.33 456
2021-09-01 $492,586 (15.9%) $608,802 (18.1%) 1.31 464
2021-10-01 $493,005 (15.0%) $634,151 (22.5%) 1.31 467
2021-11-01 $490,019 (14.3%) $625,958 (20.0%) 1.31 430
2021-12-01 $454,383 (7.0%) $564,424 (8.8%) 1.23 765
2022-01-01 $498,547 (12.7%) $654,579 (19.0%) 1.35 290
2022-02-01 $504,500 (10.7%) $695,966 (20.2%) 1.31 278
2022-03-01 $515,975 (11.7%) $675,339 (16.2%) 1.29 307
2022-04-01 $533,450 (12.4%) $691,428 (17.0%) 1.27 314
2022-05-01 $536,499 (13.0%) $698,216 (21.8%) 1.23 450
2022-06-01 $550,000 (14.0%) $684,430 (18.8%) 1.22 649
2022-07-01 $542,450 (11.9%) $675,905 (16.4%) 1.23 880
2022-08-01 $528,500 (5.7%) $669,831 (13.7%) 1.22 923
2022-09-01 $522,500 (6.1%) $657,778 (8.0%) 1.22 929
2022-10-01 $510,000 (3.5%) $644,620 (1.7%) 1.20 912
2022-11-01 $514,548 (5.0%) $629,945 (0.6%) 1.24 922
Greeley's median listing price for 2022-11-01 was $514,548, a difference of $24,529 (5.0%) versus the prior year and $4,548 versus the prior month.

Greeley's median listing price comes in at 124% of the national average.

Greeley's average listing price for 2022-11-01 was $629,945, a difference of $3,987 (0.6%) versus the prior year and $-14,675 versus the prior month.

For the 2022-11-01 period, Greeley had 922 MLS listings, a difference of 10 listings (1%) versus the prior month and 492 listings (114%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Greeley (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 69 days 3,115 sqft
2018-02-01 57 days 3,112 sqft
2018-03-01 37 days 3,100 sqft
2018-04-01 34 days 2,997 sqft
2018-05-01 36 days 3,088 sqft
2018-06-01 36 days 3,015 sqft
2018-07-01 38 days 2,956 sqft
2018-08-01 35 days 2,923 sqft
2018-09-01 38 days 2,926 sqft
2018-10-01 41 days 2,891 sqft
2018-11-01 50 days 2,915 sqft
2018-12-01 59 days 2,893 sqft
2019-01-01 59 days 2,831 sqft
2019-02-01 40 days 2,833 sqft
2019-03-01 40 days 2,871 sqft
2019-04-01 39 days 2,918 sqft
2019-05-01 39 days 2,906 sqft
2019-06-01 38 days 2,876 sqft
2019-07-01 43 days 2,833 sqft
2019-08-01 44 days 2,813 sqft
2019-09-01 45 days 2,809 sqft
2019-10-01 46 days 2,810 sqft
2019-11-01 51 days 2,851 sqft
2019-12-01 65 days 2,831 sqft
2020-01-01 71 days 2,909 sqft
2020-02-01 65 days 2,991 sqft
2020-03-01 41 days 3,031 sqft
2020-04-01 40 days 2,907 sqft
2020-05-01 46 days 2,872 sqft
2020-06-01 46 days 2,840 sqft
2020-07-01 51 days 2,916 sqft
2020-08-01 47 days 2,838 sqft
2020-09-01 50 days 2,727 sqft
2020-10-01 52 days 2,760 sqft
2020-11-01 56 days 2,680 sqft
2020-12-01 68 days 2,636 sqft
2021-01-01 78 days 2,687 sqft
2021-02-01 47 days 2,733 sqft
2021-03-01 31 days 2,685 sqft
2021-04-01 31 days 2,671 sqft
2021-05-01 28 days 2,686 sqft
2021-06-01 29 days 2,581 sqft
2021-07-01 29 days 2,572 sqft
2021-08-01 32 days 2,598 sqft
2021-09-01 36 days 2,515 sqft
2021-10-01 35 days 2,542 sqft
2021-11-01 37 days 2,546 sqft
2021-12-01 42 days 2,494 sqft
2022-01-01 38 days 2,520 sqft
2022-02-01 32 days 2,576 sqft
2022-03-01 23 days 2,584 sqft
2022-04-01 23 days 2,702 sqft
2022-05-01 18 days 2,763 sqft
2022-06-01 22 days 2,812 sqft
2022-07-01 29 days 2,760 sqft
2022-08-01 35 days 2,629 sqft
2022-09-01 40 days 2,593 sqft
2022-10-01 45 days 2,560 sqft
2022-11-01 47 days 2,561 sqft
Greeley's median listing age (time on market) for 2022-11-01 was 47 days. This is 29% longer than the same period one year ago.

Greeley's median square footage for active listings during the 2022-11-01 period was 2,561 sqft. One year prior, the average listing was 2,546 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).