Greensboro FHA Loans

GREENSBORO-HIGH POINT, NC

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.

Greensboro's 179 lenders originated 3,138 FHA loans during 2021. The total origination value was $621,870,000, with an average FHA loan value of $198,174.

Greensboro FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Greensboro averaged 5.36% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.29% and one month ago for the week of 2022-04-08, the average rate was 5.16%.

The average rate one year ago was 2.97%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.13%.

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

Greensboro FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Greensboro level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 442 2.75% $5,760
MOVEMENT MORTGAGE, LLC 204 3.11% $6,662
FREEDOM MORTGAGE CORPORATION 118 2.88% $5,018
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 117 3.21% $7,025
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 105 3.44% $7,504
PENNYMAC LOAN SERVICES, LLC 82 2.96% $4,423
DHI MORTGAGE COMPANY, LTD. 82 2.74% $7,374
Ameris Bank 81 3.06% $7,237
LAKEVIEW LOAN SERVICING, LLC 71 3.06% $4,098
LOANDEPOT.COM, LLC 67 3.52% $7,268
CALIBER HOME LOANS, INC. 63 3.22% $6,454
Mr. Cooper ( Nationstar Mortgage ) 59 3.25% $3,910
Lakeview Community Capital, LLC 42 2.99% $4,165
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 41 3.44% $8,424
Alcova Mortgage LLC 40 3.11% $6,080
GUARANTEED RATE, INC. 39 3.01% $7,460
CROSSCOUNTRY MORTGAGE, LLC 36 3.17% $8,115
INSPIRE HOME LOANS INC. 35 3.28% $6,991
NEWREZ LLC 34 3.05% $5,111
VILLAGE CAPITAL & INVESTMENT LLC 34 3.05% $2,360
HOMESIDE FINANCIAL, LLC 32 3.12% $6,769
Wolfe Financial, Inc 30 3.24% $7,169
HAMILTON HOME LOANS, INC. 28 3.07% $7,248
CERTAINTY HOME LOANS, LLC 28 3.36% $7,756
RESIDENTIAL MORTGAGE SERVICES, INC. 27 3.18% $6,309
UNION HOME MORTGAGE CORP. 27 3.28% $7,535
Prosperity Home Mortgage, LLC 26 3.23% $7,113
NFM, INC. 25 3.51% $7,279
EQUITY RESOURCES, INC. 23 2.93% $6,154
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 23 3.04% $6,972
Carrington Mortgage Services, LLC 20 3.43% $7,269
BROKER SOLUTIONS, INC. 20 3.21% $7,111
UNITED WHOLESALE MORTGAGE, LLC 19 2.79% $7,137
Bank of America 18 2.65% $3,703
TOWNE MORTGAGE COMPANY 18 3.52% $7,165
MORTGAGE FINANCIAL GROUP, INC. 17 2.83% $8,257
Blue Ridge Bank 17 3.29% $7,162
Nations Lending Corporation 16 3.47% $7,704
Allen Tate Mortgage Partners, LLC 16 2.99% $6,717
HOMEBRIDGE FINANCIAL SERVICES, INC. 16 2.69% $5,742
AMERISAVE MORTGAGE CORPORATION 14 3.13% $7,099
AmeriHome Mortgage Company, LLC 13 2.97% $4,268
Truist Bank 12 2.97% $6,573
PLANET HOME LENDING, LLC 12 2.77% $4,163
PRIMARY RESIDENTIAL MORTGAGE, INC. 12 3.76% $7,166
MORTGAGE SOLUTIONS OF COLORADO, LLC 11 3.73% $6,807
HOMESTAR FINANCIAL CORPORATION 11 2.98% $5,407
VANDERBILT MORTGAGE AND FINANCE, INC. 11 2.95% $8,699
AMERIFIRST FINANCIAL CORPORATION 11 3.64% $7,076
ALLIED MORTGAGE GROUP, INC. 11 3.23% $7,362
Wells Fargo Bank 10 3.34% $6,443
Bank of England 10 3.39% $9,569
KELLER MORTGAGE, LLC 9 2.88% $6,052
AmRes Corporation 9 3.38% $7,086
Hometown Lenders, Inc. 9 3.47% $8,419
HOME POINT FINANCIAL CORPORATION 9 2.65% $5,628
MCLEAN MORTGAGE CORPORATION 9 3.13% $6,440
ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 3.00% $7,598
CORNERSTONE HOME LENDING, INC. 9 3.39% $6,932
AMERICAN FINANCIAL RESOURCES, INC. 8 3.02% $8,388
RELIANCE FIRST CAPITAL, LLC 8 2.86% $9,137
GUILD MORTGAGE COMPANY 7 3.04% $7,213
SUN WEST MORTGAGE COMPANY, INC. 7 3.16% $7,429
PLAZA HOME MORTGAGE, INC. 7 2.89% $6,631
Renasant Bank 7 2.84% $8,011
Barrington Bank & Trust Company, N.A. 6 3.02% $6,593
Alpha Mortgage Corporation 6 3.17% $7,292
Citizens Bank 6 2.56% $7,059
Victorian Finance, LLC 6 3.02% $6,210
AMERICAN FINANCIAL NETWORK, INC. 6 2.90% $6,939
FINANCE OF AMERICA MORTGAGE LLC 6 3.31% $6,491
First-Citizens Bank & Trust Company 6 2.98% $6,603
AMERICAN FINANCING CORPORATION 6 2.94% $7,511
Mortgage Research Center, LLC 5 3.28% $5,326
Paramount Residential Mortgage Group, Inc. 5 3.63% $8,272
INTERCOASTAL MORTGAGE COMPANY 5 3.05% $6,289
PANORAMA MORTGAGE GROUP, LLC 4 3.53% $8,626
The Fidelity Bank 4 2.84% $8,154
InterContinental Capital Group, Inc 4 2.75% $6,538
RAPID MORTGAGE COMPANY 4 3.13% $7,673
OCEANSIDE MORTGAGE COMPANY 4 3.00% $2,185
Towne Bank 4 2.94% $7,050
Manufacturers and Traders Trust Company 3 3.29% $5,740
CMG MORTGAGE, INC. 3 3.00% $9,735
Truliant Federal Credit Union 3 2.79% $5,785
Flagstar Bank, FSB 3 2.79% $5,877
CAPITAL CENTER, L.L.C. 3 2.79% $4,304
First National Bank of Pennsylvania 3 2.54% $7,211
First Heritage Mortgage, LLC 3 3.21% $7,668
SOVEREIGN LENDING GROUP INCORPORATED 3 3.25% $6,212
LOANPAL, LLC 3 2.92% $7,561
The Federal Savings Bank 3 2.67% $10,542
MORIA DEVELOPMENT, INC. 3 3.42% $9,363
Northpointe Bank 3 2.96% $6,269
TOP FLITE FINANCIAL, INC. 3 3.25% $11,044
ZILLOW HOME LOANS, LLC 2 2.56% $7,515
AMCAP MORTGAGE, LTD. 2 3.13% $6,555
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 3.50% $7,915
ANGEL OAK HOME LOANS LLC 2 3.25% $7,288
Austin Capital Bank SSB 2 4.31% $6,898
Bethpage Federal Credit Union 2 3.06% $2,942
EMM LOANS LLC 2 2.63% $10,150
Equity Prime Mortgage LLC 2 3.50% $8,982
First Guaranty Mortgage Corporation 2 2.88% $3,979
First Home Bank 2 3.06% $9,228
First Horizon Bank 2 2.88% $7,749
Florida Capital Bank 2 2.63% $7,259
Gateway First Bank 2 3.50% $5,669
GENEVA FINANCIAL, LLC 2 3.13% $7,765
GUARANTEED RATE AFFINITY, LLC 2 2.63% $7,805
LEADERONE FINANCIAL CORPORATION 2 3.31% $7,746
MIDLAND MORTGAGE CORPORATION 2 3.56% $8,704
MUTUAL OF OMAHA MORTGAGE, INC. 2 2.94% $7,784
PNC Bank 2 3.00% $5,034
RADIUS FINANCIAL GROUP INC. 2 3.06% $6,315
ROYAL UNITED MORTGAGE LLC 2 3.31% $10,268
STEARNS LENDING, LLC 2 3.13% $6,700
SUCCESS MORTGAGE PARTNERS, INC. 2 3.31% $6,582
UNITED SECURITY FINANCIAL CORP 2 2.69% $5,142
VAN DYK MORTGAGE CORPORATION 2 3.25% $4,138
MID AMERICA MORTGAGE, INC. 1 3.50% $2,076
OCMBC, INC. 1 4.25% $6,915
Magnolia Bank 1 3.50% $5,133
Low VA Rates, LLC 1 2.75% $4,149
LIBERTY HOME MORTGAGE CORPORATION 1 3.25% $8,839
Peoples Bank 1 3.25% $3,991
PHH Mortgage Corporation 1 3.13% $3,469
Pinnacle Bank 1 3.25% $4,930
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.25% $8,057
LENDUS, LLC 1 3.25% $10,295
1ST SIGNATURE LENDING, LLC 1 3.25% $7,952
PREMIER LENDING, INC. 1 3.25% $9,366
LAND HOME FINANCIAL SERVICES, INC. 1 3.50% $6,550
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.38% $7,178
Princeton Mortgage Corporation 1 3.13% $7,067
JPMorgan Chase Bank 1 2.63% $9,977
JET DIRECT FUNDING CORP 1 2.50% $6,400
BAYSHORE MORTGAGE FUNDING, LLC 1 2.88% $6,913
HOMESPIRE MORTGAGE CORPORATION 1 3.75% $8,776
HALLMARK HOME MORTGAGE, LLC 1 3.25% $9,614
GoPrime Mortgage, Inc. 1 4.38% $6,672
RESIDENTIAL HOME FUNDING CORP. 1 3.25% $9,434
First Mortgage Solutions, LLC 1 2.38% $6,504
Residential Mortgage Solutions, Inc. 1 2.88% $10,299
RESOURCE FINANCIAL SERVICES, INC. 1 2.75% $7,136
ARC HOME LLC 1 3.25% $18,282
SeaTrust Mortgage Company 1 3.13% $9,128
Servion, Inc. 1 2.75% $6,341
Shamrock Home Loans, Inc. 1 3.75% $11,968
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 4.38% $7,420
Southern First Bank 1 3.13% $6,718
SOUTHERN TRUST MORTGAGE, LLC 1 3.75% $6,603
FAMILY FIRST FUNDING LLC 1 3.13% $5,797
American Security Mortgage Corp. 1 2.63% $9,916
Wilmington Savings Fund Society, FSB 1 3.00% $3,844
Sunflower Bank 1 2.88% $8,153
EVERETT FINANCIAL, INC. 1 3.13% $4,513
The Central Trust Bank 1 3.25% $5,704
EMBRACE HOME LOANS, INC. 1 2.50% $10,289
DAS Acquisition Company, LLC 1 3.00% $5,675
Credence Funding Corporation 1 3.25% $5,634
Congressional Bank 1 2.88% $7,657
Colten Mortgage, LLC 1 3.13% $8,603
Towne Mortgage of the Carolinas, LLC 1 3.25% $7,590
CLEARPATH LENDING 1 3.25% $4,510
CityWorth Mortgage LLC 1 3.88% $7,041
CALCON MUTUAL MORTGAGE LLC 1 3.25% $15,130
ACADEMY MORTGAGE CORPORATION 1 3.00% $8,213
BEST CAPITAL FUNDING 1 3.25% $5,676
U.S. Bank 1 3.13% $5,647
Uwharrie Bank 1 2.75% $5,812
BELEM SERVICING LLC 1 2.88% $7,944
NASA Federal Credit Union 1 2.50% $5,447
NBKC BANK 1 3.00% $7,688
Mortgage Lenders Investment Trading Corporation 1 3.25% $3,245
MLD MORTGAGE INC. 1 3.25% $6,418
MILEND, INC. 1 2.88% $4,897
North State Bank 1 3.00% $7,852
NP, Inc. 1 3.13% $7,322

The top Greensboro FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 442 FHA loans originated. Their average total fees are $5,760, which is $902 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Greensboro FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,360), Bank of America ($3,703), Mr. Cooper ( Nationstar Mortgage ) ($3,910), LAKEVIEW LOAN SERVICING, LLC ($4,098) and PLANET HOME LENDING, LLC ($4,163).

The lowest rate Greensboro FHA lenders (with over 10 loans originated) are Bank of America (2.65%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.69%), DHI MORTGAGE COMPANY, LTD. (2.74%), QUICKEN LOANS, LLC (2.75%) and PLANET HOME LENDING, LLC (2.77%).

Greensboro FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
GREENSBORO-HIGH POINT, NC GUILFORD 2022 $420,680 $538,650 $651,050 $809,150
GREENSBORO-HIGH POINT, NC RANDOLPH 2022 $420,680 $538,650 $651,050 $809,150
GREENSBORO-HIGH POINT, NC ROCKINGHAM 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Greensboro (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 $200,495 (14.3%) $302,846 (17.0%) 0.74 2,527
2018-02-01 $211,950 (18.1%) $309,632 (14.9%) 0.76 2,449
2018-03-01 $225,000 (20.0%) $317,926 (15.3%) 0.78 2,430
2018-04-01 $242,440 (23.7%) $326,497 (14.8%) 0.81 2,400
2018-05-01 $240,500 (15.4%) $327,174 (10.5%) 0.80 2,494
2018-06-01 $239,900 (16.2%) $325,713 (9.7%) 0.80 2,579
2018-07-01 $241,950 (21.0%) $324,205 (10.6%) 0.81 2,568
2018-08-01 $242,450 (20.5%) $304,209 (4.1%) 0.81 2,229
2018-09-01 $245,000 (17.2%) $305,716 (3.0%) 0.82 2,216
2018-10-01 $247,450 (17.9%) $305,190 (1.8%) 0.83 2,218
2018-11-01 $243,440 (20.2%) $301,108 (0.4%) 0.82 2,192
2018-12-01 $239,990 (20.1%) $301,175 (1.8%) 0.82 2,094
2019-01-01 $244,465 (21.9%) $306,779 (1.3%) 0.84 1,886
2019-02-01 $250,000 (18.0%) $305,383 (-1.4%) 0.84 1,791
2019-03-01 $263,243 (17.0%) $317,125 (-0.3%) 0.86 1,742
2019-04-01 $268,900 (10.9%) $327,607 (0.3%) 0.85 1,736
2019-05-01 $275,000 (14.4%) $331,275 (1.3%) 0.85 1,846
2019-06-01 $266,935 (11.3%) $327,594 (0.6%) 0.82 1,951
2019-07-01 $269,800 (11.5%) $327,636 (1.1%) 0.84 1,944
2019-08-01 $266,254 (9.8%) $322,650 (6.1%) 0.84 1,933
2019-09-01 $264,746 (8.1%) $321,646 (5.2%) 0.84 1,900
2019-10-01 $264,591 (6.9%) $321,659 (5.4%) 0.84 1,982
2019-11-01 $265,000 (8.9%) $323,303 (7.4%) 0.86 1,903
2019-12-01 $266,900 (11.2%) $323,771 (7.5%) 0.89 1,675
2020-01-01 $265,000 (8.4%) $322,033 (5.0%) 0.88 1,525
2020-02-01 $265,000 (6.0%) $323,053 (5.8%) 0.86 1,405
2020-03-01 $270,000 (2.6%) $333,720 (5.2%) 0.84 1,394
2020-04-01 $260,000 (-3.3%) $330,777 (1.0%) 0.81 1,495
2020-05-01 $284,990 (3.6%) $353,737 (6.8%) 0.86 1,439
2020-06-01 $292,000 (9.4%) $374,633 (14.4%) 0.85 1,340
2020-07-01 $298,250 (10.6%) $372,815 (13.8%) 0.85 1,199
2020-08-01 $299,900 (12.6%) $376,512 (16.7%) 0.86 1,114
2020-09-01 $297,759 (12.5%) $377,438 (17.4%) 0.85 1,019
2020-10-01 $280,000 (5.8%) $365,318 (13.6%) 0.80 992
2020-11-01 $276,900 (4.5%) $361,739 (11.9%) 0.79 928
2020-12-01 $267,450 (0.2%) $359,580 (11.1%) 0.78 924
2021-01-01 $274,999 (3.8%) $373,374 (15.9%) 0.81 721
2021-02-01 $270,648 (2.1%) $366,721 (13.5%) 0.78 626
2021-03-01 $261,508 (-3.2%) $357,584 (7.2%) 0.73 538
2021-04-01 $257,400 (-1.0%) $354,486 (7.2%) 0.69 548
2021-05-01 $250,000 (-12.3%) $341,313 (-3.5%) 0.66 585
2021-06-01 $259,950 (-11.0%) $348,616 (-6.9%) 0.68 637
2021-07-01 $254,950 (-14.5%) $347,762 (-6.7%) 0.66 681
2021-08-01 $262,450 (-12.5%) $357,829 (-5.0%) 0.69 793
2021-09-01 $262,745 (-11.8%) $354,480 (-6.1%) 0.69 860
2021-10-01 $259,900 (-7.2%) $355,863 (-2.6%) 0.68 832
2021-11-01 $268,750 (-2.9%) $356,922 (-1.3%) 0.71 776
2021-12-01 $266,500 (-0.4%) $362,331 (0.8%) 0.71 655
2022-01-01 $269,900 (-1.9%) $370,295 (-0.8%) 0.72 507
2022-02-01 $271,950 (0.5%) $375,784 (2.5%) 0.69 426
2022-03-01 $272,000 (4.0%) $379,491 (6.1%) 0.67 402
2022-04-01 $295,000 (14.6%) $396,817 (11.9%) 0.69 427
Greensboro's median listing price for 2022-04-01 was $295,000, a difference of $37,600 (14.6%) versus the prior year and $23,000 versus the prior month.

Greensboro's median listing price comes in at 69% of the national average.

Greensboro's average listing price for 2022-04-01 was $396,817, a difference of $42,331 (11.9%) versus the prior year and $17,326 versus the prior month.

For the 2022-04-01 period, Greensboro had 427 MLS listings, a difference of 25 listings (6%) versus the prior month and -121 listings (-22%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Greensboro (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 105 days 1,796 sqft
2018-02-01 108 days 2,069 sqft
2018-03-01 92 days 2,130 sqft
2018-04-01 74 days 2,279 sqft
2018-05-01 68 days 2,271 sqft
2018-06-01 66 days 2,269 sqft
2018-07-01 74 days 2,271 sqft
2018-08-01 70 days 2,238 sqft
2018-09-01 72 days 2,225 sqft
2018-10-01 71 days 2,203 sqft
2018-11-01 74 days 2,178 sqft
2018-12-01 82 days 2,158 sqft
2019-01-01 93 days 2,193 sqft
2019-02-01 84 days 2,220 sqft
2019-03-01 66 days 2,164 sqft
2019-04-01 57 days 2,144 sqft
2019-05-01 55 days 2,203 sqft
2019-06-01 57 days 2,200 sqft
2019-07-01 60 days 2,130 sqft
2019-08-01 63 days 2,184 sqft
2019-09-01 65 days 2,296 sqft
2019-10-01 58 days 2,131 sqft
2019-11-01 65 days 2,104 sqft
2019-12-01 78 days 2,348 sqft
2020-01-01 86 days 2,116 sqft
2020-02-01 82 days 2,086 sqft
2020-03-01 54 days 2,038 sqft
2020-04-01 53 days 2,025 sqft
2020-05-01 64 days 2,086 sqft
2020-06-01 61 days 2,068 sqft
2020-07-01 61 days 2,153 sqft
2020-08-01 52 days 2,205 sqft
2020-09-01 55 days 2,426 sqft
2020-10-01 40 days 2,060 sqft
2020-11-01 48 days 2,093 sqft
2020-12-01 51 days 2,041 sqft
2021-01-01 61 days 1,903 sqft
2021-02-01 55 days 1,874 sqft
2021-03-01 46 days 1,985 sqft
2021-04-01 40 days 2,106 sqft
2021-05-01 38 days 2,213 sqft
2021-06-01 36 days 1,878 sqft
2021-07-01 35 days 1,887 sqft
2021-08-01 36 days 1,727 sqft
2021-09-01 36 days 2,058 sqft
2021-10-01 43 days 2,319 sqft
2021-11-01 45 days 2,330 sqft
2021-12-01 50 days 2,148 sqft
2022-01-01 58 days 1,642 sqft
2022-02-01 49 days 1,608 sqft
2022-03-01 40 days 1,560 sqft
2022-04-01 33 days 1,627 sqft
Greensboro's median listing age (time on market) for 2022-04-01 was 33 days. This is -16% shorter than the same period one year ago.

Greensboro's median square footage for active listings during the 2022-04-01 period was 1,627 sqft. One year prior, the average listing was 2,106 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).