Harrisburg FHA Loan Rates, Closing Costs & Stats

HARRISBURG-CARLISLE, PA

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.

Harrisburg's 124 lenders originated 1,004 FHA loans during 2023. The total origination value was $213,130,000, with an average FHA loan value of $212,281.

Harrisburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Harrisburg averaged 6.72% for the week of 2024-05-17, compared to the national average (all FHA variants) of 6.744% for the same period.

Harrisburg's average FHA mortgage closing costs are $7,569.

The average rate for the prior week (2024-05-10) was 6.86% and one month ago for the week of 2024-04-12, the average rate was 6.53%.

The average rate one year ago was 6.48%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.78%.

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

Harrisburg 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 Harrisburg level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 132 6.33% $10,451
UNITED WHOLESALE MORTGAGE, LLC 67 6.35% $12,041
Northpointe Bank 51 6.28% $9,655
CROSSCOUNTRY MORTGAGE, LLC 39 6.79% $10,234
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 38 7.02% $12,687
LOANDEPOT.COM, LLC 29 6.36% $11,696
FREEDOM MORTGAGE CORPORATION 28 6.89% $12,943
NEWREZ LLC 25 6.34% $11,682
EMM LOANS LLC 23 6.52% $11,311
TIDEWATER MORTGAGE SERVICES, INC. 23 6.70% $11,193
FIRST ALLIANCE HOME MORTGAGE, LLC 20 7.08% $11,148
PENNYMAC LOAN SERVICES, LLC 19 6.14% $12,052
GUILD MORTGAGE COMPANY 18 6.61% $9,813
BROKER SOLUTIONS, INC. 17 6.81% $12,041
MEMBERS 1ST FEDERAL CREDIT UNION 15 6.38% $8,370
Citizens Bank 14 6.48% $10,488
HOWARD HANNA FINANCIAL SERVICES, INC. 13 6.92% $9,775
M&T Bank 13 6.08% $8,208
CMG MORTGAGE, INC. 13 6.78% $11,939
MOVEMENT MORTGAGE, LLC 12 6.94% $10,913
Mortgage America, Inc. 11 6.61% $7,946
LAKEVIEW LOAN SERVICING, LLC 10 6.13% $10,036
Mr. Cooper ( Nationstar Mortgage ) 10 6.13% $13,416
AMERISAVE MORTGAGE CORPORATION 10 6.09% $12,157
GUARANTEED RATE AFFINITY, LLC 10 6.91% $11,488
HOMEBRIDGE FINANCIAL SERVICES, INC. 10 6.52% $10,717
HOMESPIRE MORTGAGE CORPORATION 9 6.49% $11,791
NATIONS DIRECT MORTGAGE, LLC 8 6.67% $15,649
LOANPAL, LLC 7 5.55% $16,311
CARDINAL FINANCIAL 7 6.12% $15,248
UNION HOME MORTGAGE CORP. 6 6.27% $11,265
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.77% $12,805
MUTUAL OF OMAHA MORTGAGE, INC. 6 6.83% $14,032
Foote Capital Mortgage Company 5 6.40% $11,924
PNC Bank 5 7.20% $7,258
HOMESIDE FINANCIAL, LLC 5 6.63% $10,157
Plains Commerce Bank 5 6.33% $11,145
Flagstar Bank, FSB 5 6.92% $9,853
AMERICAN FINANCIAL NETWORK, INC. 4 6.53% $12,577
THRIVE MORTGAGE, LLC 4 6.88% $8,356
Integrity Home Mortgage Corp 4 5.84% $16,676
NVR Mortgage Finance, Inc. 4 6.00% $13,258
Carrington Mortgage Services, LLC 4 6.03% $13,910
TOP FLITE FINANCIAL, INC. 4 6.81% $17,036
Farmers and Merchants Trust Company of Chambersburg 4 6.66% $8,699
MILEND, INC. 4 6.53% $13,540
FIRST COMMUNITY MORTGAGE, INC. 4 7.09% $9,424
RADIUS FINANCIAL GROUP INC. 3 7.04% $12,947
Prosperity Home Mortgage, LLC 3 6.62% $9,980
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 7.17% $10,909
FIRST COLONY MORTGAGE CORPORATION 3 7.29% $8,595
PLANET HOME LENDING, LLC 3 5.71% $10,975
Fulton Bank 3 6.46% $12,433
PENTAGON FEDERAL CREDIT UNION 3 6.04% $8,683
York Traditions Bank 3 6.33% $8,146
PATRIOT 3 6.00% $9,611
ZILLOW HOME LOANS, LLC 3 6.79% $10,916
Paramount Residential Mortgage Group, Inc. 3 7.00% $13,958
Barrington Bank & Trust Company, N.A. 3 6.17% $11,526
Orrstown Bank 3 6.38% $8,599
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.92% $5,372
EMBRACE HOME LOANS, INC. 3 6.71% $11,411
RELIANCE FIRST CAPITAL, LLC 3 6.33% $14,366
THE MORTGAGE LINK, INC. 2 6.56% $10,440
Alcova Mortgage LLC 2 7.50% $9,468
ALLIED MORTGAGE GROUP, INC. 2 6.94% $8,984
BAYSHORE MORTGAGE FUNDING, LLC 2 6.94% $9,780
FIRST HERITAGE FINANCIAL, LLC 2 6.37% $5,386
GUARANTEED RATE, INC. 2 5.65% $10,272
MEMBER FIRST MORTGAGE, LLC 2 7.00% $6,864
NBKC BANK 2 6.56% $8,459
NFM, INC. 2 6.38% $9,714
PLAZA HOME MORTGAGE, INC. 2 6.75% $14,302
SUN WEST MORTGAGE COMPANY, INC. 2 6.77% $11,841
1ST FINANCIAL, INC. 2 6.12% $13,814
Meridian Bank Corporation 1 6.13% $13,019
NATIONS RELIABLE LENDING, LLC 1 6.88% $10,579
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.38% $10,545
VILLAGE CAPITAL MORTGAGE 1 6.63% $1,356
NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $14,784
MDE Home Loans, LLC 1 6.25% $19,210
Waterstone Mortgage Corporation 1 6.13% $6,020
Magnolia Bank 1 6.49% $7,248
LIBERTY HOME MORTGAGE CORPORATION 1 7.50% $16,442
JPMorgan Chase Bank 1 5.63% $13,794
Homesale Mortgage, LLC 1 7.25% $9,842
GUARANTY HOME MORTGAGE CORPORATION 1 5.75% $11,815
GREENTREE MORTGAGE COMPANY, L.P. 1 6.63% $15,157
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.63% $8,659
GENEVA FINANCIAL, LLC 1 6.63% $12,524
First National Bank of Pennsylvania 1 5.50% $9,402
Wells Fargo Bank 1 6.50% $16,161
FIRST HOME MORTGAGE CORPORATION 1 6.25% $7,354
POLARIS HOME FUNDING CORP. 1 6.13% $17,524
FIDELITY DIRECT MORTGAGE, LLC 1 5.63% $13,341
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.38% $6,464
EVERETT FINANCIAL, INC. 1 7.63% $15,107
Equity Prime Mortgage LLC 1 7.38% $9,861
ENVOY MORTGAGE, LTD 1 6.00% $17,214
DIRECT MORTGAGE LOANS, LLC 1 7.13% $12,267
Residential Mortgage Solutions, Inc. 1 7.50% $5,199
Sierra Pacific Mortgage Company, Inc. 1 6.13% $5,980
STOCKTON MORTGAGE CORPORATION 1 8.13% $10,297
SUCCESS MORTGAGE PARTNERS, INC. 1 5.99% $16,008
AMERICAN FINANCING CORPORATION 1 6.50% $15,750
T2 FINANCIAL LLC 1 6.63% $9,557
The Federal Savings Bank 1 5.75% $16,249
The Loan Store, Inc. 1 6.88% $12,261
ACADEMY MORTGAGE CORPORATION 1 7.25% $10,268
The Union Bank Company 1 5.75% $16,936
CONTOUR MORTGAGE CORPORATION 1 7.63% $7,645
Citibank 1 6.25% $5,847
CHURCHILL MORTGAGE CORPORATION 1 6.13% $4,862
TOTAL MORTGAGE SERVICES, LLC 1 6.75% $11,051
Towne Bank 1 6.75% $17,964
Truist 1 6.75% $11,117
AmeriHome Mortgage Company, LLC 1 7.13% $7,177
American Mortgage & Equity Consultants, Inc. 1 7.50% $15,729
U.S. Bank 1 7.25% $8,396
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.00% $14,049
Mortgage Research Center, LLC 1 7.63% $7,025
MORTGAGE ACCESS CORP. 1 6.50% $17,932
Mid Penn Bank 1 6.25% $10,342
Mid-Continent Funding, Inc. 1 7.25% $10,686

The top Harrisburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 132 FHA loans originated. Their average total fees are $10,451, which is $1,590 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Harrisburg FHA lenders (with over 10 loans originated) are Mortgage America, Inc. ($7,946), M&T Bank ($8,208), MEMBERS 1ST FEDERAL CREDIT UNION ($8,370), Northpointe Bank ($9,655) and HOWARD HANNA FINANCIAL SERVICES, INC. ($9,775).

The lowest rate Harrisburg FHA lenders (with over 10 loans originated) are M&T Bank (6.08%), AMERISAVE MORTGAGE CORPORATION (6.09%), LAKEVIEW LOAN SERVICING, LLC (6.13%), Mr. Cooper ( Nationstar Mortgage ) (6.13%) and PENNYMAC LOAN SERVICES, LLC (6.14%).

Harrisburg FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
HARRISBURG-CARLISLE, PA CUMBERLAND 2022 $420,680 $538,650 $651,050 $809,150
HARRISBURG-CARLISLE, PA DAUPHIN 2022 $420,680 $538,650 $651,050 $809,150
HARRISBURG-CARLISLE, PA PERRY 2022 $420,680 $538,650 $651,050 $809,150
HARRISBURG-CARLISLE, PA CUMBERLAND 2023 $472,030 $604,400 $730,525 $907,900
HARRISBURG-CARLISLE, PA DAUPHIN 2023 $472,030 $604,400 $730,525 $907,900
HARRISBURG-CARLISLE, PA PERRY 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Harrisburg (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 $196,950 (10.7%) $241,245 (6.0%) 0.73 1,752
2018-02-01 $201,873 (14.3%) $244,829 (6.6%) 0.73 1,668
2018-03-01 $209,950 (13.7%) $254,189 (8.3%) 0.74 1,633
2018-04-01 $208,250 (9.6%) $256,542 (6.1%) 0.71 1,659
2018-05-01 $224,400 (12.2%) $265,512 (6.7%) 0.75 1,748
2018-06-01 $219,900 (10.1%) $261,537 (4.7%) 0.73 1,876
2018-07-01 $216,028 (10.8%) $260,339 (5.0%) 0.72 1,916
2018-08-01 $219,900 (12.8%) $258,799 (5.6%) 0.74 1,963
2018-09-01 $219,900 (15.8%) $260,568 (9.0%) 0.74 1,906
2018-10-01 $216,810 (14.5%) $260,520 (10.4%) 0.73 1,889
2018-11-01 $214,450 (15.6%) $258,500 (10.6%) 0.73 1,800
2018-12-01 $219,083 (16.3%) $257,034 (9.7%) 0.76 1,614
2019-01-01 $219,375 (11.4%) $256,358 (6.3%) 0.76 1,448
2019-02-01 $219,950 (9.0%) $255,798 (4.5%) 0.74 1,361
2019-03-01 $219,979 (4.8%) $262,282 (3.2%) 0.72 1,367
2019-04-01 $219,954 (5.6%) $267,896 (4.4%) 0.70 1,410
2019-05-01 $222,400 (-0.9%) $267,374 (0.7%) 0.70 1,494
2019-06-01 $228,250 (3.8%) $269,589 (3.1%) 0.71 1,527
2019-07-01 $232,950 (7.8%) $275,879 (6.0%) 0.73 1,553
2019-08-01 $233,242 (6.1%) $279,075 (7.8%) 0.74 1,513
2019-09-01 $236,987 (7.8%) $285,217 (9.5%) 0.76 1,447
2019-10-01 $239,259 (10.4%) $288,789 (10.9%) 0.77 1,425
2019-11-01 $234,900 (9.5%) $284,966 (10.2%) 0.77 1,405
2019-12-01 $237,000 (8.2%) $287,407 (11.8%) 0.79 1,236
2020-01-01 $239,900 (9.4%) $291,003 (13.5%) 0.80 1,061
2020-02-01 $240,000 (9.1%) $294,519 (15.1%) 0.79 943
2020-03-01 $249,968 (13.6%) $302,013 (15.2%) 0.78 906
2020-04-01 $250,850 (14.1%) $305,033 (13.9%) 0.79 828
2020-05-01 $254,300 (14.3%) $304,920 (14.0%) 0.77 891
2020-06-01 $257,150 (12.7%) $304,828 (13.1%) 0.76 914
2020-07-01 $261,075 (12.1%) $313,018 (13.5%) 0.76 792
2020-08-01 $259,900 (11.4%) $317,734 (13.9%) 0.74 745
2020-09-01 $256,650 (8.3%) $321,265 (12.6%) 0.74 724
2020-10-01 $261,400 (9.3%) $324,978 (12.5%) 0.75 660
2020-11-01 $257,500 (9.6%) $321,011 (12.7%) 0.75 619
2020-12-01 $252,825 (6.7%) $313,178 (9.0%) 0.75 602
2021-01-01 $259,850 (8.3%) $319,845 (9.9%) 0.78 524
2021-02-01 $268,450 (11.9%) $323,661 (9.9%) 0.78 443
2021-03-01 $278,925 (11.6%) $333,592 (10.5%) 0.79 446
2021-04-01 $273,000 (8.8%) $341,955 (12.1%) 0.74 444
2021-05-01 $279,250 (9.8%) $341,370 (12.0%) 0.74 495
2021-06-01 $239,950 (-6.7%) $312,556 (2.5%) 0.63 633
2021-07-01 $239,900 (-8.1%) $304,350 (-2.8%) 0.63 663
2021-08-01 $239,950 (-7.7%) $308,494 (-2.9%) 0.64 684
2021-09-01 $239,925 (-6.5%) $300,670 (-6.4%) 0.64 668
2021-10-01 $249,900 (-4.4%) $318,190 (-2.1%) 0.67 654
2021-11-01 $249,925 (-2.9%) $327,139 (1.9%) 0.67 610
2021-12-01 $247,675 (-2.0%) $317,690 (1.4%) 0.67 534
2022-01-01 $234,500 (-9.8%) $312,166 (-2.4%) 0.63 471
2022-02-01 $261,950 (-2.4%) $336,308 (3.9%) 0.68 414
2022-03-01 $262,450 (-5.9%) $337,297 (1.1%) 0.66 434
2022-04-01 $289,900 (6.2%) $343,406 (0.4%) 0.69 492
2022-05-01 $277,450 (-0.6%) $343,981 (0.8%) 0.63 565
2022-06-01 $292,000 (21.7%) $354,747 (13.5%) 0.65 640
2022-07-01 $298,053 (24.2%) $364,110 (19.6%) 0.67 679
2022-08-01 $312,450 (30.2%) $367,361 (19.1%) 0.72 683
2022-09-01 $297,450 (24.0%) $361,348 (20.2%) 0.70 703
2022-10-01 $309,900 (24.0%) $364,632 (14.6%) 0.73 723
2022-11-01 $309,500 (23.8%) $367,760 (12.4%) 0.74 706
2022-12-01 $300,000 (21.1%) $363,491 (14.4%) 0.74 632
2023-01-01 $319,998 (36.5%) $380,017 (21.7%) 0.79 538
2023-02-01 $322,400 (23.1%) $388,535 (15.5%) 0.78 518
2023-03-01 $344,900 (31.4%) $404,928 (20.1%) 0.81 506
2023-04-01 $319,990 (10.4%) $403,367 (17.5%) 0.74 474
2023-05-01 $321,500 (15.9%) $409,085 (18.9%) 0.73 504
2023-06-01 $325,000 (11.3%) $397,331 (12.0%) 0.73 510
2023-07-01 $332,350 (11.5%) $402,284 (10.5%) 0.76 519
2023-08-01 $337,225 (7.9%) $405,813 (10.5%) 0.77 542
2023-09-01 $330,000 (10.9%) $411,843 (14.0%) 0.77 577
2023-10-01 $322,400 (4.0%) $403,593 (10.7%) 0.76 647
2023-11-01 $297,575 (-3.9%) $388,152 (5.6%) 0.71 647
2023-12-01 $306,200 (2.1%) $389,398 (7.1%) 0.75 608
2024-01-01 $312,165 (-2.5%) $394,001 (3.7%) 0.76 542
2024-02-01 $302,423 (-6.2%) $385,507 (-0.8%) 0.73 523
2024-03-01 $309,950 (-10.1%) $387,121 (-4.4%) 0.73 555
2024-04-01 $321,950 (0.6%) $398,868 (-1.1%) 0.75 559
Harrisburg's median listing price for 2024-04-01 was $321,950, a difference of $1,960 (0.6%) versus the prior year and $12,000 versus the prior month.

Harrisburg's median listing price comes in at 75% of the national average.

Harrisburg's average listing price for 2024-04-01 was $398,868, a difference of $-4,499 (-1.1%) versus the prior year and $11,747 versus the prior month.

For the 2024-04-01 period, Harrisburg had 559 MLS listings, a difference of 4 listings (1%) versus the prior month and 85 listings (18%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Harrisburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 93 days 1,798 sqft
2018-02-01 88 days 1,814 sqft
2018-03-01 72 days 1,846 sqft
2018-04-01 60 days 1,832 sqft
2018-05-01 54 days 1,850 sqft
2018-06-01 52 days 1,970 sqft
2018-07-01 59 days 1,954 sqft
2018-08-01 62 days 1,950 sqft
2018-09-01 64 days 1,966 sqft
2018-10-01 67 days 1,941 sqft
2018-11-01 72 days 1,920 sqft
2018-12-01 80 days 1,920 sqft
2019-01-01 89 days 1,907 sqft
2019-02-01 85 days 1,901 sqft
2019-03-01 61 days 1,905 sqft
2019-04-01 42 days 1,935 sqft
2019-05-01 42 days 2,018 sqft
2019-06-01 47 days 2,029 sqft
2019-07-01 53 days 2,075 sqft
2019-08-01 54 days 2,068 sqft
2019-09-01 54 days 2,094 sqft
2019-10-01 56 days 2,113 sqft
2019-11-01 60 days 2,102 sqft
2019-12-01 74 days 2,099 sqft
2020-01-01 86 days 2,096 sqft
2020-02-01 72 days 2,100 sqft
2020-03-01 50 days 2,133 sqft
2020-04-01 63 days 2,108 sqft
2020-05-01 66 days 2,133 sqft
2020-06-01 37 days 2,118 sqft
2020-07-01 35 days 2,109 sqft
2020-08-01 32 days 2,114 sqft
2020-09-01 36 days 2,079 sqft
2020-10-01 50 days 2,083 sqft
2020-11-01 51 days 2,067 sqft
2020-12-01 54 days 2,057 sqft
2021-01-01 65 days 2,062 sqft
2021-02-01 59 days 2,071 sqft
2021-03-01 48 days 2,059 sqft
2021-04-01 41 days 2,018 sqft
2021-05-01 36 days 1,964 sqft
2021-06-01 34 days 1,850 sqft
2021-07-01 36 days 1,882 sqft
2021-08-01 37 days 1,863 sqft
2021-09-01 43 days 1,853 sqft
2021-10-01 43 days 1,816 sqft
2021-11-01 44 days 1,830 sqft
2021-12-01 51 days 1,824 sqft
2022-01-01 52 days 1,831 sqft
2022-02-01 43 days 1,869 sqft
2022-03-01 32 days 1,855 sqft
2022-04-01 33 days 1,888 sqft
2022-05-01 35 days 1,882 sqft
2022-06-01 35 days 1,917 sqft
2022-07-01 38 days 1,936 sqft
2022-08-01 39 days 1,955 sqft
2022-09-01 43 days 1,938 sqft
2022-10-01 44 days 1,951 sqft
2022-11-01 47 days 1,961 sqft
2022-12-01 57 days 1,949 sqft
2023-01-01 68 days 1,989 sqft
2023-02-01 60 days 1,933 sqft
2023-03-01 47 days 2,011 sqft
2023-04-01 38 days 2,016 sqft
2023-05-01 35 days 1,990 sqft
2023-06-01 38 days 1,993 sqft
2023-07-01 38 days 2,032 sqft
2023-08-01 34 days 2,038 sqft
2023-09-01 37 days 2,050 sqft
2023-10-01 36 days 1,980 sqft
2023-11-01 43 days 1,911 sqft
2023-12-01 50 days 1,875 sqft
2024-01-01 54 days 1,873 sqft
2024-02-01 43 days 1,842 sqft
2024-03-01 40 days 1,874 sqft
2024-04-01 37 days 1,861 sqft
Harrisburg's median listing age (time on market) for 2024-04-01 was 37 days. This is -1% shorter than the same period one year ago.

Harrisburg's median square footage for active listings during the 2024-04-01 period was 1,861 sqft. One year prior, the average listing was 2,016 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).