Kingsport FHA Loan Rates, Closing Costs & Stats

KINGSPORT-BRISTOL, TN-VA

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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.

    Kingsport's 103 lenders originated 857 FHA loans during 2023. The total origination value was $172,505,000, with an average FHA loan value of $201,289.

    Kingsport FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Kingsport averaged 6.79% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Kingsport's average FHA mortgage closing costs are $6,911.

    The average rate for the prior week (2024-04-12) was 6.68% and one month ago for the week of 2024-03-15, the average rate was 6.65%.

    The average rate one year ago was 6.38%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.79%.

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

    Kingsport 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 Kingsport level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 109 6.31% $9,125
    CARDINAL FINANCIAL 59 6.64% $10,168
    MORTGAGE INVESTORS GROUP, INC. 58 6.39% $9,175
    UNITED WHOLESALE MORTGAGE, LLC 45 6.41% $10,616
    DHI MORTGAGE COMPANY, LTD. 40 6.03% $8,054
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 32 6.79% $9,005
    MOVEMENT MORTGAGE, LLC 26 6.89% $9,027
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 20 6.65% $9,329
    GVC MORTGAGE, INC. 18 6.81% $11,690
    CROSSCOUNTRY MORTGAGE, LLC 17 6.99% $9,350
    Sierra Pacific Mortgage Company, Inc. 17 6.56% $10,438
    LOANDEPOT.COM, LLC 16 6.43% $9,947
    ROSS MORTGAGE CORPORATION 15 6.73% $11,178
    BROKER SOLUTIONS, INC. 14 6.67% $9,029
    GUARANTEED RATE, INC. 14 6.22% $9,261
    EVERETT FINANCIAL, INC. 13 7.07% $8,507
    Bank of Tennessee 13 6.62% $7,577
    PENNYMAC LOAN SERVICES, LLC 12 5.93% $11,424
    Mr. Cooper ( Nationstar Mortgage ) 12 5.93% $12,107
    NEWREZ LLC 11 6.64% $10,738
    FREEDOM MORTGAGE CORPORATION 11 6.77% $10,787
    STOCKTON MORTGAGE CORPORATION 10 6.76% $10,630
    LEADERONE FINANCIAL CORPORATION 10 6.23% $10,510
    ALAMEDA MORTGAGE CORPORATION 9 6.88% $11,775
    AMERICAN FINANCIAL NETWORK, INC. 8 7.03% $10,870
    CMG MORTGAGE, INC. 7 6.32% $11,277
    HOMESIDE FINANCIAL, LLC 7 7.05% $9,813
    Carrington Mortgage Services, LLC 7 6.36% $10,336
    FIRST COMMUNITY MORTGAGE, INC. 6 6.38% $9,523
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 6 7.56% $6,965
    Regions Bank 6 6.58% $6,844
    AMERISAVE MORTGAGE CORPORATION 5 6.28% $10,471
    CITY FIRST MORTGAGE SERVICES, L.L.C. 5 7.27% $8,788
    MUTUAL OF OMAHA MORTGAGE, INC. 5 6.35% $10,272
    TOP FLITE FINANCIAL, INC. 5 7.03% $13,328
    ISERVE RESIDENTIAL LENDING, LLC 5 6.63% $21,122
    UNION HOME MORTGAGE CORP. 4 6.53% $11,377
    ZILLOW HOME LOANS, LLC 4 6.72% $9,261
    Atlantic Union Bank 4 6.84% $8,402
    Equity Prime Mortgage LLC 4 7.19% $9,888
    Nations Lending Corporation 4 6.69% $9,739
    DELMAR FINANCIAL COMPANY 4 6.94% $7,698
    Blue Ridge Bank 3 6.75% $10,606
    RELIANCE FIRST CAPITAL, LLC 3 7.13% $6,888
    Truist 3 5.78% $6,654
    MILEND, INC. 3 6.54% $12,419
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.58% $9,097
    GENEVA FINANCIAL, LLC 3 7.25% $7,436
    CHURCHILL MORTGAGE CORPORATION 2 6.69% $8,380
    COMPASS MORTGAGE, INC. 2 6.06% $7,179
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.44% $7,886
    Century Mortgage Company DBA Century Lending Company 2 7.00% $8,760
    LADERA LENDING, INC. 2 5.81% $15,785
    PLANET HOME LENDING, LLC 2 6.69% $9,671
    PLAZA HOME MORTGAGE, INC. 2 5.81% $10,467
    LAKEVIEW LOAN SERVICING, LLC 2 5.88% $8,468
    Prosperity Home Mortgage, LLC 2 6.18% $11,793
    First Horizon Bank 2 7.13% $7,168
    ROYAL UNITED MORTGAGE LLC 2 7.13% $12,132
    AMCAP MORTGAGE, LTD. 2 5.69% $9,502
    ALLIED MORTGAGE GROUP, INC. 2 6.44% $7,571
    Mortgage Research Center, LLC 2 7.56% $5,673
    TOTAL MORTGAGE SERVICES, LLC 2 7.19% $7,561
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 6.50% $9,390
    U.S. Bank 2 5.63% $5,277
    Citizens Bank 2 6.50% $11,264
    Virginia Credit Union, Inc. 1 8.13% $5,497
    DIRECT MORTGAGE LOANS, LLC 1 7.25% $15,662
    CRESCENT MORTGAGE COMPANY 1 6.50% $9,835
    EMM LOANS LLC 1 5.75% $9,463
    Encompass Lending Group, LP 1 6.88% $6,388
    ENDEAVOR CAPITAL, LLC. 1 7.25% $13,056
    CORNERSTONE HOME LENDING, INC. 1 7.50% $5,901
    Evolve Bank & Trust 1 7.13% $7,721
    CityWorth Mortgage LLC 1 6.13% $7,317
    Waterstone Mortgage Corporation 1 7.13% $8,624
    First International Bank & Trust 1 6.25% $12,075
    Flagstar Bank, FSB 1 6.75% $14,103
    GUILD MORTGAGE COMPANY 1 7.13% $7,044
    INTERLINC MORTGAGE SERVICES, LLC 1 5.50% $5,294
    LIBERTY HOME MORTGAGE CORPORATION 1 7.00% $17,754
    Axos Bank 1 5.63% $8,945
    MORTGAGE ACCESS CORP. 1 6.75% $19,219
    M&T Bank 1 6.25% $6,627
    AmeriHome Mortgage Company, LLC 1 5.99% $9,798
    NFM, INC. 1 7.38% $9,720
    Northpointe Bank 1 6.25% $7,380
    OCMBC, INC. 1 7.63% $6,886
    PANORAMA MORTGAGE GROUP, LLC 1 6.75% $8,315
    Paramount Residential Mortgage Group, Inc. 1 7.25% $6,994
    American Security Mortgage Corp. 1 6.50% $8,751
    POLARIS HOME FUNDING CORP. 1 6.75% $15,409
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $12,556
    AMERICAN FINANCING CORPORATION 1 5.63% $9,303
    RANLIFE, INC. 1 7.88% $8,766
    Renasant Bank 1 6.75% $12,054
    RUOFF MORTGAGE COMPANY, INC. 1 5.63% $7,687
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.00% $8,273
    SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $11,274
    TOWNE MORTGAGE COMPANY 1 5.50% $11,352
    Alcova Mortgage LLC 1 7.13% $5,061
    Vellum Mortgage, Inc. 1 7.63% $8,724
    VERITAS FUNDING, LLC 1 7.25% $10,576

    The top Kingsport FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 109 FHA loans originated. Their average total fees are $9,125, which is $1,043 lower than the next largest lender, CARDINAL FINANCIAL.

    The lowest fee Kingsport FHA lenders (with over 10 loans originated) are Bank of Tennessee ($7,577), DHI MORTGAGE COMPANY, LTD. ($8,054), EVERETT FINANCIAL, INC. ($8,507), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($9,005) and MOVEMENT MORTGAGE, LLC ($9,027).

    The lowest rate Kingsport FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.93%), Mr. Cooper ( Nationstar Mortgage ) (5.93%), DHI MORTGAGE COMPANY, LTD. (6.03%), GUARANTEED RATE, INC. (6.22%) and LEADERONE FINANCIAL CORPORATION (6.23%).

    Kingsport FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    KINGSPORT-BRISTOL, TN-VA HAWKINS 2022 $420,680 $538,650 $651,050 $809,150
    KINGSPORT-BRISTOL, TN-VA SULLIVAN 2022 $420,680 $538,650 $651,050 $809,150
    KINGSPORT-BRISTOL, TN-VA SCOTT 2022 $420,680 $538,650 $651,050 $809,150
    KINGSPORT-BRISTOL, TN-VA WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
    KINGSPORT-BRISTOL, TN-VA BRISTOL CITY 2022 $420,680 $538,650 $651,050 $809,150
    KINGSPORT-BRISTOL, TN-VA HAWKINS 2023 $472,030 $604,400 $730,525 $907,900
    KINGSPORT-BRISTOL, TN-VA SULLIVAN 2023 $472,030 $604,400 $730,525 $907,900
    KINGSPORT-BRISTOL, TN-VA SCOTT 2023 $472,030 $604,400 $730,525 $907,900
    KINGSPORT-BRISTOL, TN-VA WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
    KINGSPORT-BRISTOL, TN-VA BRISTOL CITY 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Kingsport (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 $159,950 (6.7%) $248,316 (13.6%) 0.59 1,413
    2018-02-01 $159,713 (5.5%) $246,131 (9.1%) 0.58 1,401
    2018-03-01 $159,900 (0.0%) $236,420 (-3.0%) 0.56 1,343
    2018-04-01 $169,250 (1.1%) $246,842 (-0.3%) 0.57 1,359
    2018-05-01 $169,700 (1.6%) $247,286 (-0.5%) 0.57 1,436
    2018-06-01 $169,900 (3.0%) $243,186 (-1.7%) 0.57 1,545
    2018-07-01 $169,900 (3.0%) $241,399 (-3.7%) 0.57 1,606
    2018-08-01 $169,900 (0.3%) $240,702 (-4.9%) 0.57 1,626
    2018-09-01 $169,900 (1.4%) $239,234 (-4.4%) 0.57 1,643
    2018-10-01 $169,700 (3.0%) $242,453 (-2.5%) 0.57 1,665
    2018-11-01 $168,500 (2.1%) $244,742 (-1.9%) 0.57 1,643
    2018-12-01 $159,900 (-0.1%) $236,483 (-4.3%) 0.55 1,527
    2019-01-01 $159,700 (-0.2%) $225,705 (-9.1%) 0.55 1,405
    2019-02-01 $159,300 (-0.3%) $226,923 (-7.8%) 0.54 1,346
    2019-03-01 $171,229 (7.1%) $245,840 (4.0%) 0.56 1,235
    2019-04-01 $188,450 (11.3%) $268,872 (8.9%) 0.60 1,124
    2019-05-01 $190,950 (12.5%) $272,852 (10.3%) 0.60 1,156
    2019-06-01 $199,900 (17.7%) $277,596 (14.2%) 0.62 1,198
    2019-07-01 $199,950 (17.7%) $277,910 (15.1%) 0.63 1,229
    2019-08-01 $199,973 (17.7%) $279,426 (16.1%) 0.63 1,238
    2019-09-01 $199,932 (17.7%) $280,343 (17.2%) 0.64 1,247
    2019-10-01 $199,450 (17.5%) $278,655 (14.9%) 0.64 1,258
    2019-11-01 $189,900 (12.7%) $270,009 (10.3%) 0.62 1,264
    2019-12-01 $190,950 (19.4%) $272,330 (15.2%) 0.64 1,179
    2020-01-01 $190,971 (19.6%) $273,204 (21.0%) 0.64 1,094
    2020-02-01 $198,500 (24.6%) $278,378 (22.7%) 0.65 968
    2020-03-01 $211,498 (23.5%) $293,099 (19.2%) 0.66 883
    2020-04-01 $211,791 (12.4%) $293,830 (9.3%) 0.66 858
    2020-05-01 $219,575 (15.0%) $301,503 (10.5%) 0.67 751
    2020-06-01 $224,500 (12.3%) $312,150 (12.5%) 0.66 700
    2020-07-01 $233,700 (16.9%) $317,206 (14.1%) 0.68 652
    2020-08-01 $230,000 (15.0%) $315,716 (13.0%) 0.66 624
    2020-09-01 $222,400 (11.2%) $307,039 (9.5%) 0.64 618
    2020-10-01 $209,943 (5.3%) $306,467 (10.0%) 0.60 599
    2020-11-01 $209,700 (10.4%) $314,664 (16.5%) 0.61 557
    2020-12-01 $199,950 (4.7%) $323,770 (18.9%) 0.59 497
    2021-01-01 $199,900 (4.7%) $335,251 (22.7%) 0.60 437
    2021-02-01 $200,000 (0.8%) $353,056 (26.8%) 0.58 336
    2021-03-01 $208,450 (-1.4%) $366,895 (25.2%) 0.59 312
    2021-04-01 $231,175 (9.2%) $374,812 (27.6%) 0.63 298
    2021-05-01 $249,900 (13.8%) $392,965 (30.3%) 0.66 305
    2021-06-01 $243,550 (8.5%) $353,416 (13.2%) 0.64 381
    2021-07-01 $239,900 (2.7%) $353,754 (11.5%) 0.63 405
    2021-08-01 $229,656 (-0.2%) $363,283 (15.1%) 0.61 438
    2021-09-01 $234,950 (5.6%) $405,972 (32.2%) 0.63 444
    2021-10-01 $259,900 (23.8%) $414,916 (35.4%) 0.69 404
    2021-11-01 $243,675 (16.2%) $384,676 (22.3%) 0.65 371
    2021-12-01 $249,900 (25.0%) $409,459 (26.5%) 0.68 323
    2022-01-01 $249,800 (25.0%) $440,932 (31.5%) 0.68 256
    2022-02-01 $254,950 (27.5%) $468,657 (32.7%) 0.66 221
    2022-03-01 $269,000 (29.1%) $475,810 (29.7%) 0.67 214
    2022-04-01 $282,450 (22.2%) $482,424 (28.7%) 0.67 226
    2022-05-01 $290,798 (16.4%) $463,487 (18.0%) 0.66 289
    2022-06-01 $277,450 (13.9%) $398,035 (12.6%) 0.62 343
    2022-07-01 $289,900 (20.8%) $417,923 (18.1%) 0.65 400
    2022-08-01 $287,450 (25.2%) $422,136 (16.2%) 0.66 426
    2022-09-01 $292,978 (24.7%) $421,425 (3.8%) 0.68 428
    2022-10-01 $289,900 (11.5%) $430,221 (3.7%) 0.68 438
    2022-11-01 $294,350 (20.8%) $415,994 (8.1%) 0.71 453
    2022-12-01 $300,000 (20.1%) $423,817 (3.5%) 0.74 442
    2023-01-01 $320,000 (28.1%) $429,311 (-2.6%) 0.79 403
    2023-02-01 $323,069 (26.7%) $435,747 (-7.0%) 0.78 382
    2023-03-01 $320,000 (19.0%) $429,468 (-9.7%) 0.75 375
    2023-04-01 $319,992 (13.3%) $427,470 (-11.4%) 0.74 363
    2023-05-01 $328,693 (13.0%) $417,061 (-10.0%) 0.75 373
    2023-06-01 $340,725 (22.8%) $429,726 (8.0%) 0.77 384
    2023-07-01 $345,000 (19.0%) $446,323 (6.8%) 0.78 406
    2023-08-01 $329,675 (14.7%) $436,826 (3.5%) 0.76 462
    2023-09-01 $325,000 (10.9%) $429,117 (1.8%) 0.76 528
    2023-10-01 $322,500 (11.3%) $437,119 (1.6%) 0.76 578
    2023-11-01 $325,000 (10.4%) $435,960 (4.8%) 0.77 618
    2023-12-01 $319,000 (6.3%) $431,437 (1.8%) 0.78 584
    2024-01-01 $302,500 (-5.5%) $426,681 (-0.6%) 0.74 525
    2024-02-01 $300,000 (-7.1%) $438,240 (0.6%) 0.72 511
    2024-03-01 $315,000 (-1.6%) $440,936 (2.7%) 0.74 505
    Kingsport's median listing price for 2024-03-01 was $315,000, a difference of $-5,000 (-1.6%) versus the prior year and $15,000 versus the prior month.

    Kingsport's median listing price comes in at 74% of the national average.

    Kingsport's average listing price for 2024-03-01 was $440,936, a difference of $11,468 (2.7%) versus the prior year and $2,696 versus the prior month.

    For the 2024-03-01 period, Kingsport had 505 MLS listings, a difference of -6 listings (-1%) versus the prior month and 130 listings (35%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Kingsport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 101 days 1,840 sqft
    2018-02-01 102 days 1,800 sqft
    2018-03-01 99 days 1,800 sqft
    2018-04-01 77 days 1,828 sqft
    2018-05-01 70 days 1,851 sqft
    2018-06-01 65 days 1,871 sqft
    2018-07-01 66 days 1,943 sqft
    2018-08-01 69 days 1,939 sqft
    2018-09-01 75 days 1,962 sqft
    2018-10-01 82 days 1,939 sqft
    2018-11-01 88 days 1,883 sqft
    2018-12-01 100 days 1,883 sqft
    2019-01-01 109 days 1,734 sqft
    2019-02-01 110 days 1,779 sqft
    2019-03-01 90 days 1,870 sqft
    2019-04-01 65 days 1,980 sqft
    2019-05-01 58 days 2,001 sqft
    2019-06-01 61 days 2,012 sqft
    2019-07-01 68 days 2,028 sqft
    2019-08-01 70 days 2,062 sqft
    2019-09-01 69 days 2,035 sqft
    2019-10-01 67 days 2,002 sqft
    2019-11-01 74 days 1,993 sqft
    2019-12-01 87 days 2,048 sqft
    2020-01-01 100 days 2,038 sqft
    2020-02-01 102 days 1,950 sqft
    2020-03-01 81 days 2,000 sqft
    2020-04-01 71 days 1,990 sqft
    2020-05-01 76 days 2,006 sqft
    2020-06-01 74 days 1,998 sqft
    2020-07-01 58 days 1,991 sqft
    2020-08-01 50 days 2,024 sqft
    2020-09-01 45 days 1,954 sqft
    2020-10-01 45 days 1,917 sqft
    2020-11-01 46 days 1,908 sqft
    2020-12-01 55 days 1,924 sqft
    2021-01-01 68 days 1,877 sqft
    2021-02-01 73 days 1,871 sqft
    2021-03-01 47 days 1,870 sqft
    2021-04-01 34 days 1,810 sqft
    2021-05-01 29 days 1,846 sqft
    2021-06-01 26 days 1,850 sqft
    2021-07-01 30 days 1,850 sqft
    2021-08-01 32 days 1,837 sqft
    2021-09-01 38 days 1,879 sqft
    2021-10-01 40 days 2,052 sqft
    2021-11-01 48 days 1,852 sqft
    2021-12-01 45 days 1,788 sqft
    2022-01-01 52 days 1,807 sqft
    2022-02-01 37 days 1,770 sqft
    2022-03-01 27 days 1,810 sqft
    2022-04-01 18 days 1,802 sqft
    2022-05-01 21 days 1,836 sqft
    2022-06-01 24 days 1,788 sqft
    2022-07-01 30 days 1,896 sqft
    2022-08-01 34 days 1,932 sqft
    2022-09-01 39 days 1,881 sqft
    2022-10-01 47 days 1,869 sqft
    2022-11-01 46 days 1,885 sqft
    2022-12-01 57 days 1,869 sqft
    2023-01-01 66 days 1,905 sqft
    2023-02-01 61 days 1,946 sqft
    2023-03-01 53 days 1,953 sqft
    2023-04-01 40 days 1,928 sqft
    2023-05-01 37 days 2,012 sqft
    2023-06-01 39 days 1,990 sqft
    2023-07-01 39 days 1,926 sqft
    2023-08-01 36 days 1,924 sqft
    2023-09-01 37 days 1,910 sqft
    2023-10-01 42 days 1,927 sqft
    2023-11-01 49 days 1,948 sqft
    2023-12-01 59 days 1,925 sqft
    2024-01-01 71 days 1,890 sqft
    2024-02-01 72 days 1,869 sqft
    2024-03-01 53 days 1,860 sqft
    Kingsport's median listing age (time on market) for 2024-03-01 was 53 days. This is 0% longer than the same period one year ago.

    Kingsport's median square footage for active listings during the 2024-03-01 period was 1,860 sqft. One year prior, the average listing was 1,953 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).