Lake Havasu City FHA Loan Rates, Closing Costs & Stats

LAKE HAVASU CITY-KINGMAN, AZ

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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.

    Lake Havasu City's 99 lenders originated 813 FHA loans during 2023. The total origination value was $197,005,000, with an average FHA loan value of $242,319.

    Lake Havasu City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lake Havasu City averaged 6.34% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Lake Havasu City's average FHA mortgage closing costs are $8,388.

    The average rate for the prior week (2024-12-06) was 6.31% and one month ago for the week of 2024-11-08, the average rate was 6.58%.

    The average rate one year ago was 6.89%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.5%.

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

    Lake Havasu City 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 Lake Havasu City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 113 6.37% $12,160
    QUICKEN LOANS, LLC 78 6.32% $11,953
    BROKER SOLUTIONS, INC. 73 6.69% $12,054
    INSPIRE HOME LOANS INC. 35 6.28% $10,541
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 30 6.51% $11,574
    Flagstar Bank, FSB 25 6.79% $11,197
    AMERICAN FINANCIAL NETWORK, INC. 23 6.55% $14,775
    AMERICAN PACIFIC MORTGAGE CORPORATION 21 6.92% $13,530
    GENEVA FINANCIAL, LLC 16 6.76% $14,963
    SUN AMERICAN MORTGAGE COMPANY 14 6.79% $12,987
    LOANDEPOT.COM, LLC 14 6.16% $13,866
    PENNYMAC LOAN SERVICES, LLC 13 6.32% $11,368
    ACADEMY MORTGAGE CORPORATION 11 7.32% $11,824
    CROSSCOUNTRY MORTGAGE, LLC 11 7.02% $12,725
    NEWREZ LLC 10 6.38% $10,492
    VILLAGE CAPITAL MORTGAGE 10 6.01% $11,903
    LEADERONE FINANCIAL CORPORATION 10 7.01% $9,685
    FREEDOM MORTGAGE CORPORATION 9 7.08% $13,141
    NOVA FINANCIAL & INVESTMENT CORPORATION 9 6.64% $7,163
    Paramount Residential Mortgage Group, Inc. 9 7.19% $12,635
    GUILD MORTGAGE COMPANY 8 6.59% $16,100
    AXIA FINANCIAL, LLC 8 6.44% $12,370
    SECURITYNATIONAL MORTGAGE COMPANY 7 6.98% $13,822
    MOUNTAIN WEST FINANCIAL, INC. 6 6.81% $11,438
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.90% $12,113
    CARDINAL FINANCIAL 6 6.38% $15,567
    PACIFIC RESIDENTIAL MORTGAGE, LLC 5 7.13% $12,384
    Nations Lending Corporation 5 6.80% $13,980
    GUARANTEED RATE AFFINITY, LLC 5 6.80% $11,894
    NFM, INC. 5 6.73% $12,171
    SUN WEST MORTGAGE COMPANY, INC. 5 6.62% $13,122
    MOVEMENT MORTGAGE, LLC 5 6.63% $11,211
    Mr. Cooper ( Nationstar Mortgage ) 4 6.19% $15,880
    LOANPAL, LLC 4 6.09% $11,491
    AMERISAVE MORTGAGE CORPORATION 4 5.75% $15,820
    FBC MORTGAGE, LLC 3 6.75% $16,761
    Equity Prime Mortgage LLC 3 7.13% $11,336
    INTERCAP LENDING INC. 3 6.04% $12,018
    UNION HOME MORTGAGE CORP. 3 7.17% $11,034
    ARIZONA 3 6.00% $8,876
    Plains Commerce Bank 3 7.17% $12,768
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 7.21% $7,105
    V.I.P. MORTGAGE, INC. 3 6.42% $11,694
    EVERETT FINANCIAL, INC. 3 6.63% $13,042
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.38% $13,757
    Sierra Pacific Mortgage Company, Inc. 2 6.88% $11,730
    BECKAM FUNDING CORP. 2 7.06% $14,113
    The Federal Savings Bank 2 5.69% $12,578
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.63% $7,243
    Wallick & Volk, Inc. 2 5.75% $9,030
    Wells Fargo Bank 2 5.69% $12,996
    JPMorgan Chase Bank 2 6.56% $5,215
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.75% $13,043
    MASON MCDUFFIE MORTGAGE CORPORATION 2 6.38% $15,495
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.69% $16,208
    AMERICAN FINANCING CORPORATION 2 6.88% $9,287
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.25% $17,172
    Zions Bank 1 5.75% $6,638
    Alaska USA Federal Credit Union 1 6.75% $8,702
    American Mortgage & Equity Consultants, Inc. 1 7.75% $11,117
    AmeriHome Mortgage Company, LLC 1 7.13% $7,984
    BAY EQUITY LLC 1 6.13% $14,764
    BAY-VALLEY MORTGAGE GROUP 1 5.88% $9,511
    Bell Bank 1 5.75% $12,264
    BEST FINANCE CAPITAL, INC. 1 6.25% $19,148
    Carrington Mortgage Services, LLC 1 7.00% $9,523
    CASTLE & COOKE MORTGAGE, LLC 1 7.49% $12,068
    Century Mortgage Company DBA Century Lending Company 1 7.13% $6,687
    CMG MORTGAGE, INC. 1 7.25% $8,311
    Commerce Home Mortgage, Inc. 1 6.88% $13,206
    CORNERSTONE HOME LENDING, INC. 1 7.13% $8,156
    ENVOY MORTGAGE, LTD 1 6.88% $15,492
    First National Bank Texas 1 6.63% $11,776
    First Vision Bank of Tennessee 1 7.63% $9,901
    Franklin Loan Corporation 1 6.13% $17,376
    Glacier Bank 1 6.50% $9,934
    Golden Empire Mortgage, Inc. 1 6.75% $15,901
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.63% $16,059
    GSF Mortgage Corporation 1 5.38% $7,506
    LIBERTY HOME MORTGAGE CORPORATION 1 7.50% $9,816
    MICHIGAN MUTUAL, INC. 1 5.50% $12,282
    MORIA DEVELOPMENT, INC. 1 5.75% $11,631
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 6.88% $3,889
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $7,789
    NATIONS DIRECT MORTGAGE, LLC 1 7.13% $10,772
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.50% $8,305
    OCMBC, INC. 1 6.63% $9,739
    ON Q FINANCIAL, INC. 1 7.00% $12,593
    ONY GLO, INC. 1 8.13% $12,137
    PANORAMA MORTGAGE GROUP, LLC 1 6.38% $16,562
    PLANET HOME LENDING, LLC 1 5.25% $7,846
    PLAZA HOME MORTGAGE, INC. 1 6.00% $19,254
    Prosperity Home Mortgage, LLC 1 6.25% $7,746
    RESIDENTIAL BANCORP 1 5.75% $16,135
    ROYAL UNITED MORTGAGE LLC 1 6.25% $12,191
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.13% $19,874
    SUMMIT FUNDING, INC. 1 6.75% $12,883
    VERITAS FUNDING, LLC 1 6.63% $18,538
    Waterstone Mortgage Corporation 1 6.88% $8,682

    The top Lake Havasu City FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 113 FHA loans originated. Their average total fees are $12,160, which is $207 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Lake Havasu City FHA lenders (with over 10 loans originated) are LEADERONE FINANCIAL CORPORATION ($9,685), NEWREZ LLC ($10,492), INSPIRE HOME LOANS INC. ($10,541), Flagstar Bank, FSB ($11,197) and PENNYMAC LOAN SERVICES, LLC ($11,368).

    The lowest rate Lake Havasu City FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (6.01%), LOANDEPOT.COM, LLC (6.16%), INSPIRE HOME LOANS INC. (6.28%), PENNYMAC LOAN SERVICES, LLC (6.32%) and QUICKEN LOANS, LLC (6.32%).

    Lake Havasu City FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LAKE HAVASU CITY-KINGMAN, AZ MOHAVE 2022 $420,680 $538,650 $651,050 $809,150
    LAKE HAVASU CITY-KINGMAN, AZ MOHAVE 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lake Havasu City (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 $249,900 (3.5%) $319,301 (8.4%) 0.93 1,242
    2018-02-01 $255,425 (3.6%) $326,013 (8.8%) 0.93 1,345
    2018-03-01 $259,900 (5.2%) $327,712 (7.5%) 0.91 1,210
    2018-04-01 $263,900 (6.5%) $333,048 (7.8%) 0.89 1,198
    2018-05-01 $275,000 (10.0%) $337,480 (8.1%) 0.92 1,114
    2018-06-01 $284,900 (10.0%) $341,023 (8.5%) 0.95 1,046
    2018-07-01 $289,975 (12.0%) $348,570 (10.7%) 0.97 1,012
    2018-08-01 $279,950 (10.0%) $340,334 (9.2%) 0.94 1,010
    2018-09-01 $283,450 (13.4%) $346,918 (11.6%) 0.95 1,064
    2018-10-01 $283,200 (11.2%) $345,157 (9.3%) 0.96 1,141
    2018-11-01 $283,950 (11.4%) $347,492 (9.1%) 0.96 1,228
    2018-12-01 $279,000 (9.5%) $343,805 (8.2%) 0.96 1,217
    2019-01-01 $280,575 (12.3%) $348,930 (9.3%) 0.97 1,218
    2019-02-01 $289,250 (13.2%) $358,558 (10.0%) 0.98 1,285
    2019-03-01 $293,571 (13.0%) $363,074 (10.8%) 0.96 1,285
    2019-04-01 $298,321 (13.0%) $369,600 (11.0%) 0.95 1,262
    2019-05-01 $299,450 (8.9%) $368,932 (9.3%) 0.94 1,248
    2019-06-01 $300,500 (5.5%) $375,998 (10.3%) 0.94 1,184
    2019-07-01 $304,750 (5.1%) $374,632 (7.5%) 0.95 1,157
    2019-08-01 $305,791 (9.2%) $377,153 (10.8%) 0.97 1,163
    2019-09-01 $313,727 (10.7%) $384,091 (10.7%) 1.00 1,148
    2019-10-01 $321,310 (13.5%) $388,716 (12.6%) 1.04 1,138
    2019-11-01 $319,900 (12.7%) $382,869 (10.2%) 1.05 1,114
    2019-12-01 $322,200 (15.5%) $387,554 (12.7%) 1.07 1,085
    2020-01-01 $324,950 (15.8%) $391,840 (12.3%) 1.09 1,091
    2020-02-01 $325,000 (12.4%) $391,727 (9.3%) 1.06 1,021
    2020-03-01 $324,950 (10.7%) $391,943 (8.0%) 1.02 996
    2020-04-01 $311,950 (4.6%) $378,462 (2.4%) 0.98 1,075
    2020-05-01 $305,000 (1.9%) $377,263 (2.3%) 0.93 1,012
    2020-06-01 $299,900 (-0.2%) $383,843 (2.1%) 0.88 810
    2020-07-01 $322,400 (5.8%) $393,680 (5.1%) 0.93 674
    2020-08-01 $325,000 (6.3%) $401,617 (6.5%) 0.93 636
    2020-09-01 $333,750 (6.4%) $418,161 (8.9%) 0.96 593
    2020-10-01 $344,900 (7.3%) $427,707 (10.0%) 0.99 597
    2020-11-01 $343,650 (7.4%) $429,091 (12.1%) 1.00 607
    2020-12-01 $342,225 (6.2%) $428,867 (10.7%) 1.02 531
    2021-01-01 $334,500 (2.9%) $437,781 (11.7%) 1.00 484
    2021-02-01 $342,400 (5.4%) $450,550 (15.0%) 1.00 401
    2021-03-01 $349,950 (7.7%) $451,091 (15.1%) 0.99 363
    2021-04-01 $369,200 (18.4%) $480,715 (27.0%) 1.00 386
    2021-05-01 $398,000 (30.5%) $497,608 (31.9%) 1.06 374
    2021-06-01 $412,450 (37.5%) $523,777 (36.5%) 1.09 404
    2021-07-01 $402,500 (24.8%) $508,619 (29.2%) 1.06 490
    2021-08-01 $399,950 (23.1%) $495,614 (23.4%) 1.07 544
    2021-09-01 $399,000 (19.6%) $490,209 (17.2%) 1.06 613
    2021-10-01 $409,950 (18.9%) $490,393 (14.7%) 1.09 668
    2021-11-01 $399,750 (16.3%) $483,933 (12.8%) 1.07 657
    2021-12-01 $395,950 (15.7%) $472,933 (10.3%) 1.07 574
    2022-01-01 $425,450 (27.2%) $508,148 (16.1%) 1.15 510
    2022-02-01 $433,450 (26.6%) $503,147 (11.7%) 1.13 424
    2022-03-01 $444,700 (27.1%) $509,454 (12.9%) 1.11 428
    2022-04-01 $450,000 (21.9%) $541,733 (12.7%) 1.07 492
    2022-05-01 $442,450 (11.2%) $542,256 (9.0%) 1.01 707
    2022-06-01 $427,000 (3.5%) $531,902 (1.6%) 0.95 887
    2022-07-01 $425,000 (5.6%) $522,095 (2.7%) 0.96 1,133
    2022-08-01 $424,900 (6.2%) $514,001 (3.7%) 0.98 1,251
    2022-09-01 $419,450 (5.1%) $498,285 (1.7%) 0.98 1,274
    2022-10-01 $419,900 (2.4%) $493,599 (0.7%) 0.99 1,295
    2022-11-01 $412,450 (3.2%) $486,873 (0.6%) 0.99 1,343
    2022-12-01 $405,000 (2.3%) $477,606 (1.0%) 1.00 1,255
    2023-01-01 $404,353 (-5.0%) $485,315 (-4.5%) 1.00 1,157
    2023-02-01 $404,626 (-6.7%) $486,009 (-3.4%) 0.98 1,081
    2023-03-01 $405,000 (-8.9%) $492,445 (-3.3%) 0.96 1,018
    2023-04-01 $416,000 (-7.6%) $515,899 (-4.8%) 0.97 964
    2023-05-01 $424,925 (-4.0%) $540,535 (-0.3%) 0.96 908
    2023-06-01 $417,541 (-2.2%) $529,523 (-0.5%) 0.94 883
    2023-07-01 $420,000 (-1.2%) $529,842 (1.5%) 0.95 867
    2023-08-01 $423,110 (-0.4%) $518,203 (0.8%) 0.97 866
    2023-09-01 $419,900 (0.1%) $536,615 (7.7%) 0.98 937
    2023-10-01 $419,900 (0.0%) $544,408 (10.3%) 0.99 1,022
    2023-11-01 $417,450 (1.2%) $548,029 (12.6%) 0.99 1,100
    2023-12-01 $419,000 (3.5%) $540,845 (13.2%) 1.02 1,059
    2024-01-01 $426,533 (5.5%) $553,866 (14.1%) 1.04 1,023
    2024-02-01 $429,450 (6.1%) $560,234 (15.3%) 1.03 1,052
    2024-03-01 $425,000 (4.9%) $553,910 (12.5%) 1.00 1,107
    2024-04-01 $423,534 (1.8%) $573,979 (11.3%) 0.99 1,075
    2024-05-01 $429,900 (1.2%) $574,841 (6.4%) 0.97 1,138
    2024-06-01 $424,900 (1.8%) $560,913 (5.9%) 0.95 1,155
    2024-07-01 $410,741 (-2.2%) $533,129 (0.6%) 0.94 1,155
    2024-08-01 $409,000 (-3.3%) $532,443 (2.8%) 0.95 1,173
    2024-09-01 $408,175 (-2.8%) $533,783 (-0.5%) 0.96 1,206
    2024-10-01 $404,975 (-3.6%) $535,530 (-1.6%) 0.95 1,244
    2024-11-01 $408,000 (-2.3%) $539,790 (-1.5%) 0.98 1,356
    Lake Havasu City's median listing price for 2024-11-01 was $408,000, a difference of $-9,450 (-2.3%) versus the prior year and $3,025 versus the prior month.

    Lake Havasu City's median listing price comes in at 98% of the national average.

    Lake Havasu City's average listing price for 2024-11-01 was $539,790, a difference of $-8,239 (-1.5%) versus the prior year and $4,260 versus the prior month.

    For the 2024-11-01 period, Lake Havasu City had 1,356 MLS listings, a difference of 112 listings (9%) versus the prior month and 256 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lake Havasu City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 78 days 1,714 sqft
    2018-02-01 75 days 1,711 sqft
    2018-03-01 66 days 1,713 sqft
    2018-04-01 70 days 1,720 sqft
    2018-05-01 62 days 1,728 sqft
    2018-06-01 67 days 1,761 sqft
    2018-07-01 81 days 1,772 sqft
    2018-08-01 62 days 1,747 sqft
    2018-09-01 56 days 1,754 sqft
    2018-10-01 57 days 1,755 sqft
    2018-11-01 58 days 1,746 sqft
    2018-12-01 65 days 1,724 sqft
    2019-01-01 74 days 1,732 sqft
    2019-02-01 72 days 1,737 sqft
    2019-03-01 64 days 1,747 sqft
    2019-04-01 63 days 1,758 sqft
    2019-05-01 61 days 1,746 sqft
    2019-06-01 66 days 1,774 sqft
    2019-07-01 72 days 1,786 sqft
    2019-08-01 72 days 1,797 sqft
    2019-09-01 71 days 1,804 sqft
    2019-10-01 71 days 1,808 sqft
    2019-11-01 70 days 1,789 sqft
    2019-12-01 79 days 1,780 sqft
    2020-01-01 79 days 1,797 sqft
    2020-02-01 79 days 1,804 sqft
    2020-03-01 65 days 1,783 sqft
    2020-04-01 61 days 1,728 sqft
    2020-05-01 68 days 1,720 sqft
    2020-06-01 77 days 1,716 sqft
    2020-07-01 63 days 1,731 sqft
    2020-08-01 60 days 1,721 sqft
    2020-09-01 58 days 1,720 sqft
    2020-10-01 49 days 1,724 sqft
    2020-11-01 49 days 1,710 sqft
    2020-12-01 51 days 1,745 sqft
    2021-01-01 55 days 1,709 sqft
    2021-02-01 45 days 1,700 sqft
    2021-03-01 37 days 1,741 sqft
    2021-04-01 31 days 1,758 sqft
    2021-05-01 35 days 1,743 sqft
    2021-06-01 34 days 1,738 sqft
    2021-07-01 35 days 1,722 sqft
    2021-08-01 34 days 1,701 sqft
    2021-09-01 35 days 1,713 sqft
    2021-10-01 41 days 1,720 sqft
    2021-11-01 44 days 1,719 sqft
    2021-12-01 53 days 1,715 sqft
    2022-01-01 63 days 1,737 sqft
    2022-02-01 50 days 1,725 sqft
    2022-03-01 39 days 1,739 sqft
    2022-04-01 36 days 1,741 sqft
    2022-05-01 31 days 1,706 sqft
    2022-06-01 35 days 1,643 sqft
    2022-07-01 45 days 1,630 sqft
    2022-08-01 50 days 1,641 sqft
    2022-09-01 60 days 1,642 sqft
    2022-10-01 71 days 1,644 sqft
    2022-11-01 74 days 1,639 sqft
    2022-12-01 84 days 1,633 sqft
    2023-01-01 89 days 1,655 sqft
    2023-02-01 86 days 1,653 sqft
    2023-03-01 69 days 1,657 sqft
    2023-04-01 66 days 1,697 sqft
    2023-05-01 66 days 1,765 sqft
    2023-06-01 58 days 1,722 sqft
    2023-07-01 58 days 1,728 sqft
    2023-08-01 60 days 1,745 sqft
    2023-09-01 56 days 1,719 sqft
    2023-10-01 54 days 1,710 sqft
    2023-11-01 57 days 1,695 sqft
    2023-12-01 71 days 1,683 sqft
    2024-01-01 71 days 1,708 sqft
    2024-02-01 58 days 1,707 sqft
    2024-03-01 57 days 1,697 sqft
    2024-04-01 63 days 1,687 sqft
    2024-05-01 56 days 1,686 sqft
    2024-06-01 59 days 1,667 sqft
    2024-07-01 69 days 1,637 sqft
    2024-08-01 66 days 1,633 sqft
    2024-09-01 64 days 1,640 sqft
    2024-10-01 64 days 1,632 sqft
    2024-11-01 69 days 1,628 sqft
    Lake Havasu City's median listing age (time on market) for 2024-11-01 was 69 days. This is 21% longer than the same period one year ago.

    Lake Havasu City's median square footage for active listings during the 2024-11-01 period was 1,628 sqft. One year prior, the average listing was 1,695 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).