Homosassa Springs FHA Loan Rates, Closing Costs & Stats

HOMOSASSA SPRINGS, FL

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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.

    Homosassa Springs's 132 lenders originated 817 FHA loans during 2022. The total origination value was $166,305,000, with an average FHA loan value of $203,556.

    Homosassa Springs FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Homosassa Springs averaged 6.51% for the week of 2023-09-22, compared to the national average (all FHA variants) of 7.036% for the same period.

    Homosassa Springs's average FHA mortgage closing costs are $7,347.

    The average rate for the prior week (2023-09-15) was 6.46% and one month ago for the week of 2023-08-18, the average rate was 6.47%.

    The average rate one year ago was 5.46%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.71%.

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

    Homosassa Springs 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 Homosassa Springs level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 84 4.39% $9,944
    UNITED WHOLESALE MORTGAGE, LLC 64 4.89% $10,317
    AMERIFIRST FINANCIAL CORPORATION 33 5.24% $9,760
    CALIBER HOME LOANS, INC. 27 4.78% $9,586
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 27 5.51% $9,543
    Carrington Mortgage Services, LLC 22 5.36% $10,136
    PENNYMAC LOAN SERVICES, LLC 20 4.67% $8,205
    HOMEBRIDGE FINANCIAL SERVICES, INC. 14 5.06% $11,671
    OPEN MORTGAGE, LLC 14 5.18% $10,331
    CROSSCOUNTRY MORTGAGE, LLC 13 5.55% $9,411
    FREEDOM MORTGAGE CORPORATION 13 4.85% $10,479
    LOANDEPOT.COM, LLC 13 5.02% $10,313
    Nations Lending Corporation 13 5.13% $10,185
    Mortgage Lenders Investment Trading Corporation 12 4.68% $6,731
    CARDINAL FINANCIAL 10 5.20% $13,509
    MOVEMENT MORTGAGE, LLC 10 5.10% $10,005
    Paramount Residential Mortgage Group, Inc. 10 5.65% $15,221
    AMERICAN FINANCIAL RESOURCES, INC. 9 4.90% $9,466
    Mr. Cooper ( Nationstar Mortgage ) 8 4.13% $8,595
    HOME POINT FINANCIAL CORPORATION 8 4.06% $9,205
    NEWREZ LLC 8 5.06% $8,125
    GENEVA FINANCIAL, LLC 7 5.36% $10,106
    SUCCESS MORTGAGE PARTNERS, INC. 7 5.05% $11,771
    Equity Prime Mortgage LLC 7 5.95% $12,178
    LAKEVIEW LOAN SERVICING, LLC 7 3.45% $4,479
    Flagstar Bank, FSB 6 4.80% $9,437
    BROKER SOLUTIONS, INC. 6 5.31% $10,056
    AMERISAVE MORTGAGE CORPORATION 6 4.21% $8,547
    LOANPAL, LLC 6 3.96% $10,461
    INSPIRE HOME LOANS INC. 5 4.73% $9,874
    PLANET HOME LENDING, LLC 5 4.05% $7,610
    EVERETT FINANCIAL, INC. 5 5.70% $7,047
    AMERICAN FINANCING CORPORATION 5 5.20% $13,432
    GSF Mortgage Corporation 5 5.15% $13,842
    MUTUAL OF OMAHA MORTGAGE, INC. 4 5.38% $9,396
    TOP FLITE FINANCIAL, INC. 4 5.63% $15,089
    PLAZA HOME MORTGAGE, INC. 4 5.00% $8,578
    Regions Bank 4 5.38% $8,214
    Hometown Lenders, Inc. 4 4.56% $12,957
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 5.16% $9,489
    FBC MORTGAGE, LLC 4 5.44% $9,400
    Goldwater Bank, N.A. 4 5.03% $12,574
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 4.97% $10,630
    Sierra Pacific Mortgage Company, Inc. 3 4.38% $9,148
    Bank of America 3 4.71% $4,592
    CMG MORTGAGE, INC. 3 5.17% $13,271
    DHI MORTGAGE COMPANY, LTD. 3 4.00% $12,933
    EMM LOANS LLC 3 4.21% $13,452
    FINANCE OF AMERICA MORTGAGE LLC 3 5.38% $8,722
    GUARANTEED RATE AFFINITY, LLC 3 5.33% $8,929
    HAMILTON HOME LOANS, INC. 3 4.66% $10,105
    HOMESIDE FINANCIAL, LLC 3 5.75% $17,509
    MICHIGAN MUTUAL, INC. 3 4.38% $15,775
    NORTHERN MORTGAGE SERVICES, LLC 3 5.75% $12,245
    The Home Loan Expert LLC 3 4.33% $8,328
    THE MORTGAGE FIRM, INC. 3 5.50% $12,170
    VAN DYK MORTGAGE CORPORATION 3 4.92% $10,232
    MORTGAGE FINANCIAL GROUP, INC. 2 5.38% $9,814
    ALLIED MORTGAGE GROUP, INC. 2 4.63% $11,617
    NEW DAY FINANCIAL, LLC 2 5.75% $7,083
    First Federal Bank 2 5.81% $6,013
    UNITED MORTGAGE CORP 2 6.50% $13,843
    ZILLOW HOME LOANS, LLC 2 6.38% $10,874
    Mortgage Research Center, LLC 2 5.44% $11,750
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 5.25% $12,436
    Bank of England 2 4.25% $13,050
    ABSOLUTE HOME MORTGAGE CORPORATION 2 6.00% $15,282
    PENTAGON FEDERAL CREDIT UNION 2 4.88% $6,063
    JPMorgan Chase Bank 2 4.50% $4,964
    M&T Bank 2 4.69% $12,136
    First Heritage Mortgage, LLC 2 5.19% $13,283
    NATIONS DIRECT MORTGAGE, LLC 2 4.13% $9,750
    AMERICAN BANCSHARES MORTGAGE 2 4.50% $20,100
    HOMESTEAD FUNDING CORP. 2 5.94% $10,566
    Prosperity Home Mortgage, LLC 2 4.94% $9,444
    Hometown Equity Mortgage, LLC 2 6.38% $6,615
    Truist 2 5.25% $7,772
    GUARANTEED RATE, INC. 2 4.28% $9,569
    GUILD MORTGAGE COMPANY 2 5.31% $9,498
    NATIONS RELIABLE LENDING, LLC 1 4.25% $9,447
    Neighborhood Loans, Inc. 1 7.00% $11,441
    Capital Bank 1 5.75% $8,670
    NFM, INC. 1 4.88% $10,170
    OCEANSIDE MORTGAGE COMPANY 1 3.50% $5,896
    CALCON MUTUAL MORTGAGE LLC 1 5.63% $9,199
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 3.75% $6,663
    PHH Mortgage Corporation 1 4.38% $9,968
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.13% $14,058
    AMERICAN FEDERAL MORTGAGE CORPORATION 1 5.00% $5,878
    PREFERRED LENDING SERVICES, LLC 1 3.25% $10,658
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $8,537
    AMERICAN ADVISORS GROUP 1 4.13% $14,791
    RANLIFE, INC. 1 3.63% $7,175
    ROYAL UNITED MORTGAGE LLC 1 2.88% $10,343
    RUOFF MORTGAGE COMPANY, INC. 1 5.75% $2,498
    Shamrock Home Loans, Inc. 1 4.50% $13,779
    1ST SIGNATURE LENDING, LLC 1 4.75% $11,360
    South State Bank 1 5.00% $7,699
    SOUTHWEST STAGE FUNDING, LLC 1 6.88% $9,907
    Alcova Mortgage LLC 1 3.25% $5,875
    Summit Mortgage Corporation 1 3.75% $11,165
    The Federal Savings Bank 1 6.13% $10,604
    Waterstone Mortgage Corporation 1 5.63% $15,113
    GVC MORTGAGE, INC. 1 7.13% $14,547
    ACADEMY MORTGAGE CORPORATION 1 5.88% $8,342
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.25% $9,728
    First Internet Bank of Indiana 1 3.99% $6,913
    GREAT WESTERN FINANCIAL SERVICES, INC. 1 4.13% $7,296
    First Home Bank 1 4.63% $6,843
    GTE Federal Credit Union 1 5.88% $11,292
    WesBanco 1 4.75% $12,258
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.63% $17,499
    First Guaranty Mortgage Corporation 1 4.75% $8,056
    HOMESTAR FINANCIAL CORPORATION 1 5.63% $13,265
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 5.13% $10,483
    Ixonia Bank 1 5.63% $15,838
    Lakeview Community Capital, LLC 1 3.13% $5,462
    Financial Freedom Mortgage, LLC 1 5.25% $9,468
    LAND HOME FINANCIAL SERVICES, INC. 1 6.13% $9,550
    LEADERONE FINANCIAL CORPORATION 1 5.63% $8,051
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 4.63% $6,552
    ENVOY MORTGAGE, LTD 1 6.13% $8,448
    U.S. Bank 1 5.25% $12,066
    MILEND, INC. 1 6.25% $20,382
    MLB RESIDENTIAL LENDING, LLC 1 4.63% $8,003
    MORTGAGE EQUITY PARTNERS LLC 1 6.88% $10,781
    MORTGAGE INVESTORS GROUP, INC. 1 4.88% $7,821
    CONTOUR MORTGAGE CORPORATION 1 5.50% $11,172
    Commerce Home Mortgage, Inc. 1 5.13% $8,123
    CITYWIDE HOME LOANS, LLC 1 5.75% $13,873
    Citizens Bank 1 6.63% $15,296
    Christensen Financial, Inc. 1 5.25% $12,863

    The top Homosassa Springs FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 84 FHA loans originated. Their average total fees are $9,944, which is $373 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Homosassa Springs FHA lenders (with over 10 loans originated) are Mortgage Lenders Investment Trading Corporation ($6,731), PENNYMAC LOAN SERVICES, LLC ($8,205), CROSSCOUNTRY MORTGAGE, LLC ($9,411), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,543) and CALIBER HOME LOANS, INC. ($9,586).

    The lowest rate Homosassa Springs FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.39%), PENNYMAC LOAN SERVICES, LLC (4.67%), Mortgage Lenders Investment Trading Corporation (4.68%), CALIBER HOME LOANS, INC. (4.78%) and FREEDOM MORTGAGE CORPORATION (4.85%).

    Homosassa Springs FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HOMOSASSA SPRINGS, FL CITRUS 2022 $420,680 $538,650 $651,050 $809,150
    HOMOSASSA SPRINGS, FL CITRUS 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Homosassa Springs (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 $224,950 (12.9%) $278,771 (13.1%) 0.83 1,135
    2018-02-01 $229,575 (15.4%) $278,371 (12.2%) 0.83 1,177
    2018-03-01 $230,000 (15.1%) $276,441 (11.2%) 0.81 1,197
    2018-04-01 $229,225 (14.7%) $275,590 (10.4%) 0.78 1,204
    2018-05-01 $228,425 (13.1%) $273,889 (6.8%) 0.76 1,157
    2018-06-01 $225,000 (9.8%) $275,133 (6.6%) 0.75 1,107
    2018-07-01 $224,900 (12.8%) $272,808 (5.8%) 0.75 1,110
    2018-08-01 $223,125 (14.2%) $268,676 (5.0%) 0.75 1,138
    2018-09-01 $224,900 (15.3%) $274,809 (6.8%) 0.76 1,174
    2018-10-01 $224,950 (13.1%) $274,484 (4.8%) 0.76 1,243
    2018-11-01 $224,900 (9.7%) $273,758 (2.9%) 0.76 1,300
    2018-12-01 $219,900 (0.8%) $263,609 (-4.3%) 0.76 1,389
    2019-01-01 $219,900 (-2.2%) $262,622 (-5.8%) 0.76 1,403
    2019-02-01 $213,325 (-7.1%) $268,041 (-3.7%) 0.72 1,433
    2019-03-01 $216,564 (-5.8%) $273,210 (-1.2%) 0.71 1,388
    2019-04-01 $218,175 (-4.8%) $275,116 (-0.2%) 0.69 1,306
    2019-05-01 $217,450 (-4.8%) $271,755 (-0.8%) 0.68 1,234
    2019-06-01 $219,900 (-2.3%) $273,124 (-0.7%) 0.69 1,136
    2019-07-01 $214,950 (-4.4%) $265,140 (-2.8%) 0.67 1,102
    2019-08-01 $212,591 (-4.7%) $267,106 (-0.6%) 0.67 1,068
    2019-09-01 $216,477 (-3.8%) $271,486 (-1.2%) 0.69 1,063
    2019-10-01 $219,068 (-2.6%) $276,606 (0.8%) 0.71 1,059
    2019-11-01 $220,000 (-2.2%) $286,819 (4.8%) 0.72 1,062
    2019-12-01 $219,500 (-0.2%) $287,306 (9.0%) 0.73 1,068
    2020-01-01 $220,000 (0.1%) $288,169 (9.7%) 0.74 1,050
    2020-02-01 $219,950 (3.1%) $284,953 (6.3%) 0.72 1,053
    2020-03-01 $224,900 (3.9%) $293,830 (7.6%) 0.71 992
    2020-04-01 $219,900 (0.8%) $289,314 (5.2%) 0.69 924
    2020-05-01 $224,900 (3.4%) $298,460 (9.8%) 0.68 823
    2020-06-01 $221,013 (0.5%) $295,815 (8.3%) 0.65 697
    2020-07-01 $230,925 (7.4%) $312,487 (17.9%) 0.67 600
    2020-08-01 $229,900 (8.1%) $309,860 (16.0%) 0.66 533
    2020-09-01 $230,975 (6.7%) $320,811 (18.2%) 0.66 492
    2020-10-01 $235,250 (7.4%) $314,721 (13.8%) 0.67 564
    2020-11-01 $234,950 (6.8%) $311,424 (8.6%) 0.69 585
    2020-12-01 $238,750 (8.8%) $329,546 (14.7%) 0.71 572
    2021-01-01 $239,900 (9.1%) $335,770 (16.5%) 0.72 465
    2021-02-01 $248,900 (13.2%) $377,274 (32.4%) 0.72 393
    2021-03-01 $249,475 (10.9%) $390,486 (32.9%) 0.71 297
    2021-04-01 $251,100 (14.2%) $377,127 (30.4%) 0.68 286
    2021-05-01 $249,900 (11.1%) $398,408 (33.5%) 0.66 268
    2021-06-01 $264,250 (19.6%) $401,526 (35.7%) 0.70 296
    2021-07-01 $275,000 (19.1%) $408,716 (30.8%) 0.73 331
    2021-08-01 $274,700 (19.5%) $411,121 (32.7%) 0.73 381
    2021-09-01 $267,350 (15.8%) $408,761 (27.4%) 0.71 391
    2021-10-01 $278,375 (18.3%) $418,069 (32.8%) 0.74 418
    2021-11-01 $296,773 (26.3%) $436,646 (40.2%) 0.79 413
    2021-12-01 $299,950 (25.6%) $445,120 (35.1%) 0.81 414
    2022-01-01 $309,450 (29.0%) $462,183 (37.7%) 0.84 353
    2022-02-01 $309,975 (24.5%) $467,303 (23.9%) 0.81 322
    2022-03-01 $313,500 (25.7%) $462,096 (18.3%) 0.78 295
    2022-04-01 $317,350 (26.4%) $433,865 (15.0%) 0.76 317
    2022-05-01 $315,000 (26.1%) $424,352 (6.5%) 0.72 402
    2022-06-01 $339,125 (28.3%) $456,400 (13.7%) 0.76 491
    2022-07-01 $335,000 (21.8%) $435,160 (6.5%) 0.75 617
    2022-08-01 $329,125 (19.8%) $408,628 (-0.6%) 0.76 657
    2022-09-01 $319,200 (19.4%) $399,581 (-2.3%) 0.75 686
    2022-10-01 $329,900 (18.5%) $409,279 (-2.1%) 0.78 741
    2022-11-01 $327,350 (10.3%) $400,166 (-8.4%) 0.79 886
    2022-12-01 $319,925 (6.7%) $390,272 (-12.3%) 0.79 938
    2023-01-01 $321,313 (3.8%) $389,814 (-15.7%) 0.80 897
    2023-02-01 $329,988 (6.5%) $400,165 (-14.4%) 0.80 861
    2023-03-01 $332,475 (6.1%) $399,914 (-13.5%) 0.78 864
    2023-04-01 $325,000 (2.4%) $395,965 (-8.7%) 0.76 832
    2023-05-01 $324,950 (3.2%) $400,469 (-5.6%) 0.74 812
    2023-06-01 $327,450 (-3.4%) $415,041 (-9.1%) 0.74 799
    2023-07-01 $329,950 (-1.5%) $409,625 (-5.9%) 0.75 799
    2023-08-01 $340,731 (3.5%) $414,244 (1.4%) 0.78 823
    Homosassa Springs's median listing price for 2023-08-01 was $340,731, a difference of $11,606 (3.5%) versus the prior year and $10,781 versus the prior month.

    Homosassa Springs's median listing price comes in at 78% of the national average.

    Homosassa Springs's average listing price for 2023-08-01 was $414,244, a difference of $5,616 (1.4%) versus the prior year and $4,619 versus the prior month.

    For the 2023-08-01 period, Homosassa Springs had 823 MLS listings, a difference of 24 listings (3%) versus the prior month and 166 listings (25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Homosassa Springs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 75 days 1,869 sqft
    2018-02-01 75 days 1,875 sqft
    2018-03-01 66 days 1,884 sqft
    2018-04-01 66 days 1,857 sqft
    2018-05-01 68 days 1,848 sqft
    2018-06-01 68 days 1,846 sqft
    2018-07-01 72 days 1,831 sqft
    2018-08-01 73 days 1,831 sqft
    2018-09-01 74 days 1,830 sqft
    2018-10-01 70 days 1,838 sqft
    2018-11-01 69 days 1,841 sqft
    2018-12-01 72 days 1,815 sqft
    2019-01-01 79 days 1,822 sqft
    2019-02-01 76 days 1,814 sqft
    2019-03-01 74 days 1,808 sqft
    2019-04-01 74 days 1,802 sqft
    2019-05-01 75 days 1,795 sqft
    2019-06-01 79 days 1,808 sqft
    2019-07-01 79 days 1,789 sqft
    2019-08-01 77 days 1,772 sqft
    2019-09-01 74 days 1,773 sqft
    2019-10-01 71 days 1,773 sqft
    2019-11-01 68 days 1,817 sqft
    2019-12-01 72 days 1,812 sqft
    2020-01-01 75 days 1,816 sqft
    2020-02-01 75 days 1,819 sqft
    2020-03-01 70 days 1,829 sqft
    2020-04-01 77 days 1,819 sqft
    2020-05-01 89 days 1,819 sqft
    2020-06-01 90 days 1,812 sqft
    2020-07-01 66 days 1,823 sqft
    2020-08-01 65 days 1,777 sqft
    2020-09-01 61 days 1,746 sqft
    2020-10-01 49 days 1,762 sqft
    2020-11-01 50 days 1,727 sqft
    2020-12-01 53 days 1,734 sqft
    2021-01-01 61 days 1,726 sqft
    2021-02-01 49 days 1,734 sqft
    2021-03-01 42 days 1,709 sqft
    2021-04-01 46 days 1,690 sqft
    2021-05-01 40 days 1,656 sqft
    2021-06-01 34 days 1,670 sqft
    2021-07-01 37 days 1,706 sqft
    2021-08-01 37 days 1,705 sqft
    2021-09-01 41 days 1,706 sqft
    2021-10-01 50 days 1,673 sqft
    2021-11-01 46 days 1,762 sqft
    2021-12-01 47 days 1,732 sqft
    2022-01-01 47 days 1,725 sqft
    2022-02-01 37 days 1,715 sqft
    2022-03-01 36 days 1,700 sqft
    2022-04-01 32 days 1,681 sqft
    2022-05-01 30 days 1,681 sqft
    2022-06-01 30 days 1,743 sqft
    2022-07-01 35 days 1,739 sqft
    2022-08-01 44 days 1,714 sqft
    2022-09-01 48 days 1,706 sqft
    2022-10-01 52 days 1,726 sqft
    2022-11-01 50 days 1,719 sqft
    2022-12-01 60 days 1,690 sqft
    2023-01-01 72 days 1,700 sqft
    2023-02-01 70 days 1,712 sqft
    2023-03-01 55 days 1,714 sqft
    2023-04-01 54 days 1,690 sqft
    2023-05-01 54 days 1,694 sqft
    2023-06-01 52 days 1,723 sqft
    2023-07-01 56 days 1,720 sqft
    2023-08-01 57 days 1,732 sqft
    Homosassa Springs's median listing age (time on market) for 2023-08-01 was 57 days. This is 31% longer than the same period one year ago.

    Homosassa Springs's median square footage for active listings during the 2023-08-01 period was 1,732 sqft. One year prior, the average listing was 1,714 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).