Hilton Head Island FHA Loan Rates, Closing Costs & Stats

HILTON HEAD ISLAND-BLUFFTON, SC

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    • 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.

    Hilton Head Island's 89 lenders originated 457 FHA loans during 2023. The total origination value was $142,425,000, with an average FHA loan value of $311,652.

    Hilton Head Island FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hilton Head Island averaged 6.28% for the week of 2025-03-21, compared to the national average (all FHA variants) of 6.335% for the same period.

    Hilton Head Island's average FHA mortgage closing costs are $8,461.

    The average rate for the prior week (2025-03-14) was 6.49% and one month ago for the week of 2025-02-14, the average rate was 6.45%.

    The average rate one year ago was 6.76%.

    For refis of the same type during the week of 2025-03-21, the average rate was 6.44%.

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

    Hilton Head Island 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 Hilton Head Island level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 48 6.26% $13,550
    DHI MORTGAGE COMPANY, LTD. 41 5.47% $8,661
    MOVEMENT MORTGAGE, LLC 30 6.87% $13,543
    UNITED WHOLESALE MORTGAGE, LLC 30 6.35% $12,522
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 12 6.47% $17,735
    LOANDEPOT.COM, LLC 11 6.33% $14,931
    Gateway First Bank 11 6.32% $10,602
    JET HOMELOANS, LLC 11 6.68% $13,900
    AMERICAN FINANCIAL NETWORK, INC. 11 6.94% $13,462
    Ameris Bank 10 6.31% $13,233
    PULTE MORTGAGE LLC 9 6.47% $8,400
    UNION HOME MORTGAGE CORP. 9 6.99% $14,217
    BROKER SOLUTIONS, INC. 8 6.28% $14,110
    SUN WEST MORTGAGE COMPANY, INC. 8 6.45% $12,649
    BANKSOUTH MORTGAGE COMPANY, LLC 6 5.60% $13,782
    EVERETT FINANCIAL, INC. 5 6.83% $9,655
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.53% $13,125
    CROSSCOUNTRY MORTGAGE, LLC 5 6.64% $18,181
    LAKEVIEW LOAN SERVICING, LLC 4 5.94% $15,682
    NEWREZ LLC 4 6.47% $10,370
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 7.31% $13,034
    GUARANTEED RATE, INC. 4 6.75% $13,375
    INTERCOASTAL MORTGAGE COMPANY 4 6.34% $13,377
    GSF Mortgage Corporation 3 6.58% $15,810
    Carrington Mortgage Services, LLC 3 6.00% $20,266
    MICHIGAN MUTUAL, INC. 3 5.33% $17,358
    INSPIRE HOME LOANS INC. 3 5.96% $10,965
    George Mason Mortgage, LLC 3 5.83% $10,723
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.83% $20,665
    EMM LOANS LLC 3 6.08% $11,536
    PENNYMAC LOAN SERVICES, LLC 3 6.17% $13,264
    Prosperity Home Mortgage, LLC 3 5.87% $14,638
    CALIBER HOME LOANS, INC. 2 6.50% $8,983
    HALLMARK HOME MORTGAGE, LLC 2 7.00% $14,965
    ACADEMY MORTGAGE CORPORATION 2 6.13% $14,759
    CARDINAL FINANCIAL 2 6.37% $14,359
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.50% $15,015
    AMERICAN FINANCING CORPORATION 2 5.50% $15,522
    Renasant Bank 2 7.00% $8,929
    South State Bank 2 6.13% $8,709
    First-Citizens Bank & Trust Company 2 7.06% $9,874
    SUMMIT FUNDING, INC. 2 5.88% $21,217
    AMERISAVE MORTGAGE CORPORATION 2 5.75% $17,056
    Flagstar Bank, FSB 2 6.39% $10,279
    FREEDOM MORTGAGE CORPORATION 2 6.50% $17,043
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.94% $13,211
    PLAZA HOME MORTGAGE, INC. 2 7.38% $15,563
    United Community Bank 2 5.94% $8,689
    Nations Lending Corporation 2 7.25% $11,261
    ZILLOW HOME LOANS, LLC 1 6.25% $7,620
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $19,730
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.25% $9,415
    Bank of America 1 6.50% $10,316
    Barrington Bank & Trust Company, N.A. 1 5.75% $7,913
    Blue Ridge Bank 1 6.75% $10,983
    CALCON MUTUAL MORTGAGE LLC 1 6.75% $14,377
    CMG MORTGAGE, INC. 1 6.25% $10,178
    CONTOUR MORTGAGE CORPORATION 1 7.38% $28,348
    EAGLE HOME MORTGAGE, LLC 1 5.75% $10,792
    Equity Prime Mortgage LLC 1 6.88% $14,002
    EQUITY RESOURCES, INC. 1 6.50% $14,938
    FBC MORTGAGE, LLC 1 5.99% $13,650
    First Palmetto Bank 1 7.13% $12,446
    GMFS LLC 1 6.63% $7,991
    GUILD MORTGAGE COMPANY 1 6.13% $17,885
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.38% $22,924
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 5.63% $13,610
    HOMESTEAD FUNDING CORP. 1 5.75% $5,729
    Lakeview Community Capital, LLC 1 5.75% $12,807
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.63% $9,364
    LOANPAL, LLC 1 5.25% $15,287
    Magnolia Bank 1 6.50% $10,792
    MIDLAND MORTGAGE CORPORATION 1 6.50% $12,889
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $12,926
    NATIONS DIRECT MORTGAGE, LLC 1 6.25% $17,561
    NTFN, INC. 1 6.25% $12,229
    PLANET HOME LENDING, LLC 1 6.75% $17,175
    RADIUS FINANCIAL GROUP INC. 1 6.63% $17,071
    ROSS MORTGAGE CORPORATION 1 7.75% $9,878
    Synovus Bank 1 6.13% $9,204
    T2 FINANCIAL LLC 1 6.25% $11,965
    TOP FLITE FINANCIAL, INC. 1 6.75% $12,293
    TOWNE MORTGAGE COMPANY 1 6.13% $15,014
    TruHome Solutions, LLC 1 7.25% $9,391
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.88% $13,412
    VERITAS FUNDING, LLC 1 6.63% $17,730
    Victorian Finance, LLC 1 7.13% $12,785
    Wells Fargo Bank 1 6.13% $11,808
    Willamette Valley Bank 1 6.75% $8,787

    The top Hilton Head Island FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 48 FHA loans originated. Their average total fees are $13,550, which is $4,889 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Hilton Head Island FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($8,661), Gateway First Bank ($10,602), UNITED WHOLESALE MORTGAGE, LLC ($12,522), Ameris Bank ($13,233) and AMERICAN FINANCIAL NETWORK, INC. ($13,462).

    The lowest rate Hilton Head Island FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.47%), QUICKEN LOANS, LLC (6.26%), Ameris Bank (6.31%), Gateway First Bank (6.32%) and LOANDEPOT.COM, LLC (6.33%).

    Hilton Head Island FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HILTON HEAD ISLAND-BLUFFTON, SC BEAUFORT 2022 $420,680 $538,650 $651,050 $809,150
    HILTON HEAD ISLAND-BLUFFTON, SC JASPER 2022 $420,680 $538,650 $651,050 $809,150
    HILTON HEAD ISLAND-BLUFFTON, SC BEAUFORT 2023 $485,300 $621,250 $750,950 $933,300
    HILTON HEAD ISLAND-BLUFFTON, SC JASPER 2023 $485,300 $621,250 $750,950 $933,300

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hilton Head Island (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 $399,000 (0.5%) $582,890 (1.5%) 1.48 2,619
    2018-02-01 $399,900 (0.2%) $589,915 (2.6%) 1.45 2,733
    2018-03-01 $413,433 (3.6%) $604,551 (4.9%) 1.45 2,799
    2018-04-01 $421,950 (5.8%) $622,378 (6.4%) 1.43 2,945
    2018-05-01 $419,000 (4.8%) $627,059 (5.7%) 1.40 2,956
    2018-06-01 $419,500 (2.6%) $626,474 (3.7%) 1.40 2,967
    2018-07-01 $424,019 (3.4%) $626,343 (3.7%) 1.42 2,927
    2018-08-01 $426,242 (4.1%) $637,991 (6.7%) 1.43 2,777
    2018-09-01 $419,000 (1.0%) $625,990 (5.1%) 1.41 2,908
    2018-10-01 $426,000 (3.0%) $644,773 (9.0%) 1.44 2,889
    2018-11-01 $425,000 (6.3%) $643,945 (10.3%) 1.44 2,918
    2018-12-01 $425,000 (6.5%) $647,340 (11.1%) 1.47 2,822
    2019-01-01 $425,000 (6.5%) $642,125 (10.2%) 1.47 2,805
    2019-02-01 $425,000 (6.3%) $639,931 (8.5%) 1.44 2,843
    2019-03-01 $424,243 (2.6%) $643,930 (6.5%) 1.39 2,925
    2019-04-01 $432,400 (2.5%) $659,020 (5.9%) 1.37 2,994
    2019-05-01 $439,450 (4.9%) $671,827 (7.1%) 1.37 2,989
    2019-06-01 $443,495 (5.7%) $673,962 (7.6%) 1.39 2,869
    2019-07-01 $435,000 (2.6%) $657,348 (5.0%) 1.36 2,858
    2019-08-01 $434,727 (2.0%) $658,280 (3.2%) 1.38 2,838
    2019-09-01 $434,318 (3.7%) $659,134 (5.3%) 1.39 2,780
    2019-10-01 $436,878 (2.6%) $663,724 (2.9%) 1.41 2,724
    2019-11-01 $435,000 (2.4%) $669,793 (4.0%) 1.43 2,681
    2019-12-01 $429,000 (0.9%) $664,157 (2.6%) 1.43 2,594
    2020-01-01 $425,000 (0.0%) $653,388 (1.8%) 1.42 2,491
    2020-02-01 $434,900 (2.3%) $662,261 (3.5%) 1.42 2,514
    2020-03-01 $435,000 (2.5%) $667,773 (3.7%) 1.36 2,581
    2020-04-01 $426,850 (-1.3%) $656,980 (-0.3%) 1.34 2,621
    2020-05-01 $425,000 (-3.3%) $664,289 (-1.1%) 1.29 2,555
    2020-06-01 $429,225 (-3.2%) $681,711 (1.2%) 1.26 2,241
    2020-07-01 $439,350 (1.0%) $697,645 (6.1%) 1.27 1,987
    2020-08-01 $434,000 (-0.2%) $708,463 (7.6%) 1.24 1,818
    2020-09-01 $415,875 (-4.3%) $720,099 (9.3%) 1.19 1,637
    2020-10-01 $400,000 (-8.4%) $723,318 (9.0%) 1.15 1,441
    2020-11-01 $412,000 (-5.3%) $748,196 (11.7%) 1.20 1,311
    2020-12-01 $415,125 (-3.2%) $768,300 (15.7%) 1.23 1,167
    2021-01-01 $440,949 (3.8%) $792,938 (21.4%) 1.32 973
    2021-02-01 $442,000 (1.6%) $813,000 (22.8%) 1.29 784
    2021-03-01 $455,000 (4.6%) $809,143 (21.2%) 1.29 692
    2021-04-01 $449,750 (5.4%) $840,260 (27.9%) 1.22 624
    2021-05-01 $473,500 (11.4%) $821,439 (23.7%) 1.26 586
    2021-06-01 $487,000 (13.5%) $830,170 (21.8%) 1.28 639
    2021-07-01 $499,000 (13.6%) $832,961 (19.4%) 1.32 686
    2021-08-01 $540,564 (24.6%) $841,071 (18.7%) 1.44 705
    2021-09-01 $512,500 (23.2%) $824,698 (14.5%) 1.37 721
    2021-10-01 $524,312 (31.1%) $857,559 (18.6%) 1.40 695
    2021-11-01 $524,700 (27.4%) $853,248 (14.0%) 1.40 597
    2021-12-01 $509,500 (22.7%) $873,876 (13.7%) 1.38 523
    2022-01-01 $499,900 (13.4%) $882,812 (11.3%) 1.35 419
    2022-02-01 $550,000 (24.4%) $918,629 (13.0%) 1.43 380
    2022-03-01 $579,950 (27.5%) $977,672 (20.8%) 1.45 370
    2022-04-01 $599,365 (33.3%) $993,575 (18.3%) 1.43 451
    2022-05-01 $650,000 (37.3%) $1,078,437 (31.3%) 1.49 604
    2022-06-01 $647,807 (33.0%) $1,072,805 (29.2%) 1.44 732
    2022-07-01 $625,000 (25.3%) $1,030,953 (23.8%) 1.41 876
    2022-08-01 $629,500 (16.5%) $1,015,593 (20.8%) 1.46 934
    2022-09-01 $642,450 (25.4%) $1,027,206 (24.6%) 1.50 935
    2022-10-01 $632,500 (20.6%) $1,007,952 (17.5%) 1.49 964
    2022-11-01 $627,408 (19.6%) $1,008,415 (18.2%) 1.51 1,047
    2022-12-01 $628,775 (23.4%) $1,005,863 (15.1%) 1.55 1,022
    2023-01-01 $624,450 (24.9%) $996,950 (12.9%) 1.55 961
    2023-02-01 $634,901 (15.4%) $1,001,611 (9.0%) 1.53 920
    2023-03-01 $649,375 (12.0%) $1,045,973 (7.0%) 1.53 885
    2023-04-01 $645,000 (7.6%) $1,046,806 (5.4%) 1.50 898
    2023-05-01 $648,875 (-0.2%) $1,039,516 (-3.6%) 1.47 889
    2023-06-01 $622,450 (-3.9%) $991,419 (-7.6%) 1.40 947
    2023-07-01 $620,000 (-0.8%) $1,008,721 (-2.2%) 1.41 1,015
    2023-08-01 $601,700 (-4.4%) $1,000,390 (-1.5%) 1.38 1,046
    2023-09-01 $599,450 (-6.7%) $980,978 (-4.5%) 1.40 1,133
    2023-10-01 $599,000 (-5.3%) $1,009,050 (0.1%) 1.41 1,254
    2023-11-01 $589,000 (-6.1%) $991,231 (-1.7%) 1.40 1,364
    2023-12-01 $571,090 (-9.2%) $980,404 (-2.5%) 1.39 1,332
    2024-01-01 $582,250 (-6.8%) $1,010,012 (1.3%) 1.42 1,303
    2024-02-01 $577,125 (-9.1%) $1,029,274 (2.8%) 1.39 1,308
    2024-03-01 $585,000 (-9.9%) $1,034,775 (-1.1%) 1.38 1,426
    2024-04-01 $599,000 (-7.1%) $1,026,338 (-2.0%) 1.39 1,505
    2024-05-01 $577,000 (-11.1%) $1,015,403 (-2.3%) 1.31 1,552
    2024-06-01 $589,000 (-5.4%) $992,451 (0.1%) 1.34 1,553
    2024-07-01 $575,000 (-7.3%) $966,122 (-4.2%) 1.32 1,562
    2024-08-01 $569,000 (-5.4%) $916,731 (-8.4%) 1.32 1,617
    2024-09-01 $571,500 (-4.7%) $918,722 (-6.4%) 1.34 1,645
    2024-10-01 $569,000 (-5.0%) $910,665 (-9.8%) 1.34 1,743
    2024-11-01 $569,000 (-3.4%) $914,345 (-7.8%) 1.37 1,821
    2024-12-01 $569,000 (-0.4%) $930,029 (-5.1%) 1.41 1,722
    2025-01-01 $569,225 (-2.2%) $936,163 (-7.3%) 1.42 1,666
    2025-02-01 $549,000 (-4.9%) $893,840 (-13.2%) 1.33 1,823
    Hilton Head Island's median listing price for 2025-02-01 was $549,000, a difference of $-28,125 (-4.9%) versus the prior year and $-20,225 versus the prior month.

    Hilton Head Island's median listing price comes in at 133% of the national average.

    Hilton Head Island's average listing price for 2025-02-01 was $893,840, a difference of $-135,434 (-13.2%) versus the prior year and $-42,323 versus the prior month.

    For the 2025-02-01 period, Hilton Head Island had 1,823 MLS listings, a difference of 157 listings (9%) versus the prior month and 515 listings (39%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hilton Head Island (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 103 days 2,151 sqft
    2018-02-01 102 days 2,174 sqft
    2018-03-01 78 days 2,161 sqft
    2018-04-01 68 days 2,146 sqft
    2018-05-01 74 days 2,142 sqft
    2018-06-01 78 days 2,126 sqft
    2018-07-01 85 days 2,116 sqft
    2018-08-01 89 days 2,155 sqft
    2018-09-01 94 days 2,125 sqft
    2018-10-01 92 days 2,168 sqft
    2018-11-01 88 days 2,155 sqft
    2018-12-01 93 days 2,161 sqft
    2019-01-01 101 days 2,141 sqft
    2019-02-01 103 days 2,139 sqft
    2019-03-01 95 days 2,150 sqft
    2019-04-01 85 days 2,167 sqft
    2019-05-01 91 days 2,188 sqft
    2019-06-01 94 days 2,212 sqft
    2019-07-01 103 days 2,175 sqft
    2019-08-01 106 days 2,176 sqft
    2019-09-01 112 days 2,175 sqft
    2019-10-01 107 days 2,185 sqft
    2019-11-01 98 days 2,200 sqft
    2019-12-01 97 days 2,187 sqft
    2020-01-01 102 days 2,161 sqft
    2020-02-01 104 days 2,174 sqft
    2020-03-01 83 days 2,201 sqft
    2020-04-01 81 days 2,160 sqft
    2020-05-01 89 days 2,131 sqft
    2020-06-01 98 days 2,144 sqft
    2020-07-01 94 days 2,189 sqft
    2020-08-01 71 days 2,186 sqft
    2020-09-01 67 days 2,142 sqft
    2020-10-01 65 days 2,135 sqft
    2020-11-01 66 days 2,122 sqft
    2020-12-01 74 days 2,135 sqft
    2021-01-01 79 days 2,118 sqft
    2021-02-01 67 days 2,038 sqft
    2021-03-01 52 days 2,092 sqft
    2021-04-01 44 days 2,067 sqft
    2021-05-01 43 days 2,032 sqft
    2021-06-01 38 days 1,960 sqft
    2021-07-01 46 days 1,985 sqft
    2021-08-01 50 days 2,026 sqft
    2021-09-01 49 days 1,973 sqft
    2021-10-01 57 days 2,026 sqft
    2021-11-01 59 days 1,966 sqft
    2021-12-01 64 days 1,983 sqft
    2022-01-01 74 days 1,989 sqft
    2022-02-01 46 days 2,020 sqft
    2022-03-01 33 days 2,083 sqft
    2022-04-01 31 days 2,094 sqft
    2022-05-01 32 days 2,169 sqft
    2022-06-01 33 days 2,121 sqft
    2022-07-01 41 days 2,064 sqft
    2022-08-01 50 days 2,093 sqft
    2022-09-01 56 days 2,096 sqft
    2022-10-01 60 days 2,145 sqft
    2022-11-01 58 days 2,120 sqft
    2022-12-01 65 days 2,115 sqft
    2023-01-01 75 days 2,118 sqft
    2023-02-01 72 days 2,162 sqft
    2023-03-01 56 days 2,227 sqft
    2023-04-01 52 days 2,186 sqft
    2023-05-01 50 days 2,134 sqft
    2023-06-01 52 days 2,091 sqft
    2023-07-01 52 days 2,031 sqft
    2023-08-01 53 days 1,986 sqft
    2023-09-01 56 days 1,972 sqft
    2023-10-01 53 days 1,991 sqft
    2023-11-01 56 days 1,980 sqft
    2023-12-01 66 days 1,979 sqft
    2024-01-01 79 days 2,000 sqft
    2024-02-01 70 days 1,964 sqft
    2024-03-01 51 days 1,992 sqft
    2024-04-01 51 days 1,986 sqft
    2024-05-01 52 days 1,950 sqft
    2024-06-01 61 days 1,949 sqft
    2024-07-01 71 days 1,941 sqft
    2024-08-01 73 days 1,906 sqft
    2024-09-01 72 days 1,921 sqft
    2024-10-01 71 days 1,928 sqft
    2024-11-01 70 days 1,918 sqft
    2024-12-01 79 days 1,931 sqft
    2025-01-01 86 days 1,953 sqft
    2025-02-01 83 days 1,857 sqft
    Hilton Head Island's median listing age (time on market) for 2025-02-01 was 83 days. This is 19% longer than the same period one year ago.

    Hilton Head Island's median square footage for active listings during the 2025-02-01 period was 1,857 sqft. One year prior, the average listing was 1,964 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).