Hartford FHA Loans

HARTFORD-EAST HARTFORD-MIDDLETOWN, CT

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.

Hartford's 174 lenders originated 6,275 FHA loans during 2021. The total origination value was $1,428,835,000, with an average FHA loan value of $227,703.

Hartford FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Hartford averaged 5.19% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

The average rate for the prior week (2022-07-29) was 5.23% and one month ago for the week of 2022-07-01, the average rate was 5.62%.

The average rate one year ago was 2.82%.

For refis of the same type during the week of 2022-08-05, the average rate was 4.87%.

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

Hartford 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 Hartford level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FIRST WORLD MORTGAGE CORPORATION 513 3.06% $8,848
QUICKEN LOANS, LLC 481 2.72% $6,658
NORWICH COMMERCIAL GROUP, INC. 203 3.19% $8,996
CALIBER HOME LOANS, INC. 203 2.77% $7,494
FREEDOM MORTGAGE CORPORATION 197 2.91% $6,166
MOVEMENT MORTGAGE, LLC 193 3.07% $7,995
TOTAL MORTGAGE SERVICES, LLC 173 3.18% $9,696
GUARANTEED RATE, INC. 170 2.86% $8,442
UNITED WHOLESALE MORTGAGE, LLC 169 2.66% $8,271
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 153 3.12% $8,451
CROSSCOUNTRY MORTGAGE, LLC 144 3.16% $9,231
LOANDEPOT.COM, LLC 139 2.99% $8,258
NEWREZ LLC 133 2.87% $6,549
LAKEVIEW LOAN SERVICING, LLC 127 3.01% $4,943
PENNYMAC LOAN SERVICES, LLC 120 3.05% $5,656
Mr. Cooper ( Nationstar Mortgage ) 117 3.22% $4,444
HOMEBRIDGE FINANCIAL SERVICES, INC. 110 2.79% $7,314
HOME POINT FINANCIAL CORPORATION 107 2.75% $8,561
Prosperity Home Mortgage, LLC 103 3.10% $8,555
PLAZA HOME MORTGAGE, INC. 101 2.95% $8,501
Citizens Bank 85 2.77% $7,563
Carrington Mortgage Services, LLC 76 3.46% $8,081
Paramount Residential Mortgage Group, Inc. 64 3.08% $8,349
ENVOY MORTGAGE, LTD 60 3.34% $8,905
EMBRACE HOME LOANS, INC. 57 2.83% $7,543
FINANCE OF AMERICA MORTGAGE LLC 56 2.77% $8,409
PRIMARY RESIDENTIAL MORTGAGE, INC. 56 3.38% $8,973
Lakeview Community Capital, LLC 43 2.98% $4,996
BAY EQUITY LLC 43 3.05% $8,997
GUARANTEED RATE AFFINITY, LLC 43 3.08% $8,986
First Guaranty Mortgage Corporation 43 2.91% $7,956
WILLIAM RAVEIS MORTGAGE, LLC 40 2.70% $8,616
RESIDENTIAL MORTGAGE SERVICES, INC. 40 2.79% $8,582
Bank of England 38 3.17% $10,532
VILLAGE CAPITAL & INVESTMENT LLC 38 2.80% $2,235
BROKER SOLUTIONS, INC. 32 3.01% $8,388
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 31 3.05% $8,781
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 31 3.23% $8,963
LEADERONE FINANCIAL CORPORATION 31 2.98% $7,739
AMERISAVE MORTGAGE CORPORATION 30 2.98% $9,034
NORTHPOINT MORTGAGE, INC. 29 2.91% $8,216
AmeriHome Mortgage Company, LLC 27 2.84% $4,830
Flagstar Bank, FSB 27 2.85% $8,368
ALLIED MORTGAGE GROUP, INC. 27 3.09% $8,085
Evolve Bank & Trust 26 2.84% $7,608
AMERICAN FINANCIAL NETWORK, INC. 21 3.08% $14,085
EVERETT FINANCIAL, INC. 20 3.78% $5,844
ARK-LA-TEX FINANCIAL SERVICES, LLC. 20 3.26% $7,118
Liberty Bank 20 2.69% $8,013
Mortgage Network, Inc. 18 3.13% $9,312
Equity Prime Mortgage LLC 18 3.22% $7,963
Bank of America 18 2.77% $5,162
HOMESTEAD FUNDING CORP. 17 2.79% $6,246
PRIMELENDING, A PLAINSCAPITAL COMPANY 17 3.48% $8,861
PROVINCE MORTGAGE ASSOCIATES, INC. 17 2.99% $8,503
INLAND BANK & TRUST 17 3.41% $10,823
Mortgage Unlimited, L.L.C. 16 2.89% $9,475
ACADEMY MORTGAGE CORPORATION 15 3.54% $8,082
First Federal Bank 15 2.83% $10,077
ARC HOME LLC 15 2.86% $8,259
InterContinental Capital Group, Inc 15 2.92% $8,898
HOMESIDE FINANCIAL, LLC 15 2.90% $8,043
Nations Lending Corporation 14 3.50% $7,401
Atlantic Home Loans, Inc. 12 3.13% $7,208
Mortgage Research Center, LLC 11 3.15% $5,753
Thomaston Savings Bank 11 2.80% $7,664
MUTUAL OF OMAHA MORTGAGE, INC. 10 2.87% $9,403
PANORAMA MORTGAGE GROUP, LLC 9 3.70% $8,836
KeyBank 8 2.84% $8,578
SUN WEST MORTGAGE COMPANY, INC. 8 2.83% $8,638
RELIANCE FIRST CAPITAL, LLC 8 2.73% $10,162
The Federal Savings Bank 8 2.72% $8,945
OCMBC, INC. 8 3.33% $10,746
PLANET HOME LENDING, LLC 7 2.79% $4,504
Shamrock Home Loans, Inc. 7 3.32% $9,593
Berkshire Bank 7 2.80% $7,299
People's United Bank 7 2.80% $7,612
Hometown Equity Mortgage, LLC 7 3.91% $10,913
ZILLOW HOME LOANS, LLC 6 2.73% $8,087
JPMorgan Chase Bank 6 3.21% $3,925
Santander Bank, N.A. 6 2.65% $8,350
TD Bank 6 2.81% $6,490
U.S. Bank 6 2.87% $6,923
OCEANSIDE MORTGAGE COMPANY 5 2.45% $3,880
NATIONWIDE MORTGAGE BANKERS, INC. 5 3.28% $10,458
SOVEREIGN LENDING GROUP INCORPORATED 5 2.78% $11,589
LENDING CAPITAL GROUP Inc 5 3.28% $7,854
Manufacturers and Traders Trust Company 5 2.93% $9,068
CONTOUR MORTGAGE CORPORATION 5 2.93% $8,445
INTERSTATE HOME LOAN CENTER, INC. 5 3.38% $8,668
RADIUS FINANCIAL GROUP INC. 4 2.75% $8,239
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 4 2.91% $17,460
PHH Mortgage Corporation 4 3.19% $5,216
PARKSIDE LENDING, LLC 4 2.53% $7,816
Low VA Rates, LLC 4 2.88% $4,486
CMG MORTGAGE, INC. 4 3.19% $9,689
STEARNS LENDING, LLC 4 2.69% $8,891
Wells Fargo Bank 4 3.00% $4,726
BETTER MORTGAGE CORPORATION 4 3.00% $7,518
Leader Bank 4 2.47% $9,175
Northpointe Bank 3 2.88% $8,970
HARBORONE MORTGAGE, LLC 3 2.67% $7,855
First Home Bank 3 2.71% $11,539
NFM, INC. 3 3.00% $9,101
CLIFFCO, INC. 3 3.17% $11,927
Plains Commerce Bank 3 2.50% $10,259
PRYSMA LENDING GROUP, LLC 3 3.33% $7,649
AmRes Corporation 3 2.79% $8,854
UNITED MORTGAGE CORP. 3 2.92% $7,740
HARTFORD FUNDING, LTD. 3 2.88% $11,343
EMM LOANS LLC 2 3.50% $9,890
RESIDENTIAL BANCORP. 2 2.50% $6,878
RESIDENTIAL HOME FUNDING CORP. 2 3.38% $11,086
WALL STREET MORTGAGE BANKERS, LTD. 2 2.94% $12,057
The Washington Trust Company, of Westerly 2 2.81% $7,550
NEW FED MORTGAGE, CORP. 2 2.81% $9,409
GUILD MORTGAGE COMPANY 2 3.44% $8,411
UNION HOME MORTGAGE CORP. 2 2.69% $7,802
EQUITY RESOURCES, INC. 2 3.06% $6,232
UNITED NORTHERN MORTGAGE BANKERS LIMITED 2 2.88% $9,954
MORTGAGE EQUITY PARTNERS LLC 2 3.13% $8,026
AMERICAN FINANCIAL RESOURCES, INC. 2 3.50% $5,524
Citibank 2 3.31% $5,488
GENEVA FINANCIAL, LLC 2 3.69% $8,989
Sierra Pacific Mortgage Company, Inc. 2 2.63% $11,925
KELLER MORTGAGE, LLC 2 2.81% $6,562
Webster Bank 2 3.06% $8,876
FIRST ALLIANCE HOME MORTGAGE, LLC 2 4.75% $11,522
FBC MORTGAGE, LLC 2 2.75% $6,246
Prime Choice Funding Inc. 1 2.62% $11,221
CHAMPIONS MORTGAGE LLC 1 2.25% $7,644
Centreville Bank 1 2.38% $8,175
BOND STREET MORTGAGE, LLC 1 2.88% $9,988
HOMESPIRE MORTGAGE CORPORATION 1 3.38% $10,824
BNC National Bank 1 2.75% $9,532
GREENTREE MORTGAGE COMPANY, L.P. 1 2.88% $9,490
BAYCOAST MORTGAGE COMPANY, LLC 1 2.75% $7,729
Residential Mortgage Solutions, Inc. 1 2.75% $7,603
Savings Bank of Danbury 1 2.38% $7,271
SECURITYNATIONAL MORTGAGE COMPANY 1 3.25% $10,443
Servion, Inc. 1 2.88% $8,042
Barrington Bank & Trust Company, N.A. 1 3.25% $5,461
Assurance Financial Group, L.L.C. 1 2.63% $8,181
Advisors Mortgage Group, L.L.C. 1 2.50% $8,748
Texana Bank 1 2.88% $6,301
ANGEL OAK HOME LOANS LLC 1 3.50% $6,244
Home Mortgage Alliance Corp 1 2.88% $12,982
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.25% $9,909
INTELLILOAN, INC. 1 3.00% $3,843
First Savings Bank 1 2.88% $6,695
First Internet Bank of Indiana 1 2.99% $8,023
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 2.75% $7,970
FIRST HOME MORTGAGE CORPORATION 1 3.13% $7,310
ABSOLUTE HOME MORTGAGE CORPORATION 1 3.70% $12,387
FirstBank 1 3.25% $12,091
AMERICAN FINANCING CORPORATION 1 2.50% $5,951
NBKC BANK 1 3.13% $9,479
US MORTGAGE CORPORATION 1 3.25% $9,822
North American Savings Bank, F.S.B. 1 3.13% $5,268
NORTHERN MORTGAGE SERVICES, LLC 1 3.25% $5,052
MLB RESIDENTIAL LENDING, LLC 1 2.88% $10,336
East Coast Capital Corp. 1 3.25% $11,364
NP, Inc. 1 1.88% $14,991
MID-ISLAND MORTGAGE CORP. 1 3.13% $4,815
MID AMERICA MORTGAGE, INC. 1 3.13% $3,606
Old Second National Bank 1 2.63% $7,872
Colonial Savings, F.A. 1 3.13% $8,618
Magnolia Bank 1 2.75% $12,574
Florida Capital Bank 1 2.63% $9,792
FM Home Loans, LLC 1 2.38% $10,136
CHURCHILL MORTGAGE CORPORATION 1 4.13% $5,429
Chelsea Groton Bank 1 2.50% $8,145
POLARIS HOME FUNDING CORP. 1 2.63% $5,443
Charter Oak Federal Credit Union 1 2.88% $6,199

The top Hartford FHA lender as defined by loan originations is FIRST WORLD MORTGAGE CORPORATION, with 513 FHA loans originated. Their average total fees are $8,848, which is $2,190 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Hartford FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,235), Mr. Cooper ( Nationstar Mortgage ) ($4,444), AmeriHome Mortgage Company, LLC ($4,830), LAKEVIEW LOAN SERVICING, LLC ($4,943) and Lakeview Community Capital, LLC ($4,996).

The lowest rate Hartford FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (2.66%), Liberty Bank (2.69%), WILLIAM RAVEIS MORTGAGE, LLC (2.70%), QUICKEN LOANS, LLC (2.72%) and HOME POINT FINANCIAL CORPORATION (2.75%).

Hartford FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT HARTFORD 2022 $420,680 $538,650 $651,050 $809,150
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT MIDDLESEX 2022 $420,680 $538,650 $651,050 $809,150
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT TOLLAND 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hartford (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 $259,900 (0.0%) $335,648 (0.2%) 0.96 4,856
2018-02-01 $259,900 (-2.8%) $334,422 (-2.3%) 0.94 4,977
2018-03-01 $269,000 (-2.2%) $335,963 (-7.0%) 0.93 5,457
2018-04-01 $269,900 (-3.3%) $337,372 (-7.5%) 0.91 5,949
2018-05-01 $273,350 (-4.7%) $339,600 (-7.0%) 0.91 6,599
2018-06-01 $278,500 (-3.8%) $342,428 (-7.1%) 0.93 6,923
2018-07-01 $274,900 (-3.5%) $339,170 (-8.4%) 0.92 7,100
2018-08-01 $269,900 (1.9%) $336,178 (-1.6%) 0.90 7,086
2018-09-01 $269,900 (1.9%) $332,721 (-2.2%) 0.90 7,064
2018-10-01 $269,900 (3.0%) $334,851 (-0.7%) 0.90 6,992
2018-11-01 $267,020 (2.7%) $335,464 (0.0%) 0.90 6,647
2018-12-01 $260,000 (0.0%) $335,723 (0.2%) 0.89 5,919
2019-01-01 $259,900 (0.0%) $335,421 (-0.1%) 0.90 5,252
2019-02-01 $264,900 (1.9%) $337,270 (0.9%) 0.89 5,260
2019-03-01 $270,900 (0.7%) $339,708 (1.1%) 0.88 5,469
2019-04-01 $274,950 (1.9%) $341,228 (1.1%) 0.87 5,718
2019-05-01 $279,900 (2.4%) $344,795 (1.5%) 0.86 6,254
2019-06-01 $284,900 (2.3%) $346,300 (1.1%) 0.88 6,453
2019-07-01 $282,450 (2.8%) $344,825 (1.7%) 0.88 6,476
2019-08-01 $279,514 (3.6%) $342,911 (2.0%) 0.88 6,356
2019-09-01 $279,064 (3.4%) $342,145 (2.8%) 0.89 6,247
2019-10-01 $279,900 (3.7%) $340,050 (1.6%) 0.89 6,178
2019-11-01 $275,000 (3.0%) $337,512 (0.6%) 0.89 5,707
2019-12-01 $274,900 (5.7%) $338,503 (0.8%) 0.92 4,836
2020-01-01 $272,350 (4.8%) $333,994 (-0.4%) 0.91 4,254
2020-02-01 $274,900 (3.8%) $335,574 (-0.5%) 0.89 4,296
2020-03-01 $284,450 (5.0%) $344,233 (1.3%) 0.89 4,615
2020-04-01 $284,950 (3.6%) $347,594 (1.9%) 0.89 4,337
2020-05-01 $293,900 (5.0%) $356,266 (3.3%) 0.89 4,182
2020-06-01 $295,000 (3.6%) $361,896 (4.5%) 0.86 4,597
2020-07-01 $299,000 (5.9%) $368,213 (6.8%) 0.86 4,576
2020-08-01 $299,000 (7.0%) $371,017 (8.2%) 0.85 4,345
2020-09-01 $299,900 (7.5%) $377,367 (10.3%) 0.86 4,307
2020-10-01 $299,900 (7.2%) $381,789 (12.3%) 0.86 4,246
2020-11-01 $299,000 (8.7%) $379,709 (12.5%) 0.86 3,915
2020-12-01 $299,900 (9.1%) $386,388 (14.2%) 0.88 3,238
2021-01-01 $299,900 (10.1%) $392,303 (17.5%) 0.88 2,588
2021-02-01 $299,900 (9.1%) $398,008 (18.6%) 0.86 2,466
2021-03-01 $300,000 (5.5%) $401,520 (16.6%) 0.84 2,557
2021-04-01 $302,500 (6.2%) $398,271 (14.6%) 0.81 2,800
2021-05-01 $309,900 (5.4%) $391,050 (9.8%) 0.82 2,996
2021-06-01 $338,000 (14.6%) $447,450 (23.6%) 0.88 1,709
2021-07-01 $339,450 (13.5%) $451,658 (22.7%) 0.88 1,834
2021-08-01 $330,000 (10.4%) $438,401 (18.2%) 0.87 1,928
2021-09-01 $334,500 (11.5%) $435,771 (15.5%) 0.88 1,875
2021-10-01 $329,900 (10.0%) $434,634 (13.8%) 0.87 1,824
2021-11-01 $339,900 (13.7%) $447,557 (17.9%) 0.90 1,502
2021-12-01 $349,000 (16.4%) $460,756 (19.3%) 0.93 1,226
2022-01-01 $349,900 (16.7%) $468,997 (19.6%) 0.93 992
2022-02-01 $364,950 (21.7%) $477,150 (19.9%) 0.93 879
2022-03-01 $354,500 (18.2%) $469,382 (16.9%) 0.88 902
2022-04-01 $349,999 (15.7%) $462,596 (16.2%) 0.82 1,019
2022-05-01 $362,750 (17.1%) $474,043 (21.2%) 0.81 1,183
2022-06-01 $375,000 (11.0%) $483,694 (8.1%) 0.83 1,360
Hartford's median listing price for 2022-06-01 was $375,000, a difference of $37,000 (11.0%) versus the prior year and $12,250 versus the prior month.

Hartford's median listing price comes in at 83% of the national average.

Hartford's average listing price for 2022-06-01 was $483,694, a difference of $36,244 (8.1%) versus the prior year and $9,651 versus the prior month.

For the 2022-06-01 period, Hartford had 1,360 MLS listings, a difference of 177 listings (15%) versus the prior month and -349 listings (-20%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hartford (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 88 days 1,655 sqft
2018-02-01 84 days 1,658 sqft
2018-03-01 58 days 1,712 sqft
2018-04-01 53 days 1,732 sqft
2018-05-01 48 days 1,744 sqft
2018-06-01 49 days 1,770 sqft
2018-07-01 56 days 1,764 sqft
2018-08-01 63 days 1,752 sqft
2018-09-01 70 days 1,746 sqft
2018-10-01 73 days 1,749 sqft
2018-11-01 75 days 1,740 sqft
2018-12-01 85 days 1,720 sqft
2019-01-01 95 days 1,710 sqft
2019-02-01 96 days 1,717 sqft
2019-03-01 68 days 1,726 sqft
2019-04-01 50 days 1,733 sqft
2019-05-01 46 days 1,815 sqft
2019-06-01 49 days 1,912 sqft
2019-07-01 55 days 1,908 sqft
2019-08-01 63 days 1,897 sqft
2019-09-01 64 days 1,893 sqft
2019-10-01 64 days 1,907 sqft
2019-11-01 65 days 1,900 sqft
2019-12-01 78 days 1,893 sqft
2020-01-01 83 days 1,877 sqft
2020-02-01 74 days 1,862 sqft
2020-03-01 51 days 1,901 sqft
2020-04-01 56 days 1,894 sqft
2020-05-01 62 days 1,940 sqft
2020-06-01 46 days 1,938 sqft
2020-07-01 43 days 1,944 sqft
2020-08-01 44 days 1,916 sqft
2020-09-01 43 days 1,908 sqft
2020-10-01 41 days 1,888 sqft
2020-11-01 44 days 1,860 sqft
2020-12-01 54 days 1,861 sqft
2021-01-01 62 days 1,844 sqft
2021-02-01 52 days 1,847 sqft
2021-03-01 39 days 1,848 sqft
2021-04-01 32 days 1,846 sqft
2021-05-01 30 days 1,836 sqft
2021-06-01 28 days 1,898 sqft
2021-07-01 29 days 1,904 sqft
2021-08-01 33 days 1,739 sqft
2021-09-01 41 days 1,739 sqft
2021-10-01 40 days 1,704 sqft
2021-11-01 48 days 1,746 sqft
2021-12-01 59 days 1,729 sqft
2022-01-01 72 days 1,753 sqft
2022-02-01 51 days 1,759 sqft
2022-03-01 33 days 1,732 sqft
2022-04-01 20 days 1,714 sqft
2022-05-01 18 days 1,746 sqft
2022-06-01 21 days 1,793 sqft
Hartford's median listing age (time on market) for 2022-06-01 was 21 days. This is -27% shorter than the same period one year ago.

Hartford's median square footage for active listings during the 2022-06-01 period was 1,793 sqft. One year prior, the average listing was 1,898 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).