Lynchburg FHA Loan Rates, Closing Costs & Stats

LYNCHBURG, VA

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.

Lynchburg's 101 lenders originated 834 FHA loans during 2023. The total origination value was $187,330,000, with an average FHA loan value of $224,616.

Lynchburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Lynchburg averaged 6.22% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

Lynchburg's average FHA mortgage closing costs are $7,237.

The average rate for the prior week (2024-12-06) was 6.29% and one month ago for the week of 2024-11-08, the average rate was 6.45%.

The average rate one year ago was 7.06%.

For refis of the same type during the week of 2024-12-13, the average rate was 6.97%.

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

Lynchburg 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 Lynchburg level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 113 6.21% $9,951
MOVEMENT MORTGAGE, LLC 71 6.72% $9,353
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 70 6.87% $10,151
Alcova Mortgage LLC 38 7.04% $6,559
NATION ONE MORTGAGE CORPORATION 35 6.66% $10,947
UNITED WHOLESALE MORTGAGE, LLC 34 6.06% $10,363
EMBRACE HOME LOANS, INC. 25 6.65% $9,980
CARDINAL FINANCIAL 23 6.39% $10,695
Atlantic Coast Mortgage, LLC 23 6.47% $11,385
THRIVE MORTGAGE, LLC 22 7.02% $10,943
Integrity Home Mortgage Corp 15 6.88% $10,098
LOANDEPOT.COM, LLC 14 6.78% $10,350
CALIBER HOME LOANS, INC. 14 6.57% $10,185
FREEDOM MORTGAGE CORPORATION 14 6.96% $11,138
Renasant Bank 11 6.75% $10,383
Mr. Cooper ( Nationstar Mortgage ) 9 5.96% $13,765
NVR Mortgage Finance, Inc. 9 6.04% $10,389
Century Mortgage Company DBA Century Lending Company 8 6.53% $11,383
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.56% $8,890
PENNYMAC LOAN SERVICES, LLC 8 6.08% $8,948
UNION HOME MORTGAGE CORP. 7 7.13% $9,717
American Mortgage & Equity Consultants, Inc. 7 6.98% $11,055
NEWREZ LLC 7 6.73% $12,276
Carrington Mortgage Services, LLC 6 6.13% $14,862
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.54% $10,810
CROSSCOUNTRY MORTGAGE, LLC 6 6.68% $11,398
AMERICAN FINANCIAL RESOURCES, INC. 6 6.04% $12,455
SWBC MORTGAGE CORPORATION 6 7.06% $5,263
EMM LOANS LLC 5 6.65% $9,211
AMERISAVE MORTGAGE CORPORATION 5 6.30% $9,633
GUILD MORTGAGE COMPANY 5 6.95% $7,507
LOANPAL, LLC 5 6.25% $10,468
Waterstone Mortgage Corporation 4 6.88% $8,515
Truist 4 6.46% $7,830
VANDERBILT MORTGAGE AND FINANCE, INC. 4 6.06% $12,433
Lakeview Community Capital, LLC 4 6.00% $10,527
Prosperity Home Mortgage, LLC 4 6.25% $7,309
FREEDOM FIRST 4 6.78% $7,131
NFM, INC. 4 7.25% $7,311
Plains Commerce Bank 4 5.63% $14,952
MUTUAL OF OMAHA MORTGAGE, INC. 4 6.63% $11,728
CMG MORTGAGE, INC. 4 6.69% $14,310
BROKER SOLUTIONS, INC. 3 7.04% $11,308
Atlantic Union Bank 3 6.54% $9,764
LAKEVIEW LOAN SERVICING, LLC 3 6.04% $13,126
First Heritage Mortgage, LLC 3 6.88% $7,659
ZILLOW HOME LOANS, LLC 3 6.04% $7,455
GUARANTEED RATE, INC. 3 6.37% $8,364
TOP FLITE FINANCIAL, INC. 2 7.50% $12,051
Citizens Bank 2 6.69% $10,293
FIDELITY DIRECT MORTGAGE, LLC 2 6.81% $12,286
FIRST ALLIANCE HOME MORTGAGE, LLC 2 7.00% $14,156
FIRST COMMUNITY MORTGAGE, INC. 2 6.38% $11,345
HOMESIDE FINANCIAL, LLC 2 6.94% $8,823
HOMESPIRE MORTGAGE CORPORATION 2 6.50% $7,422
MILEND, INC. 2 5.81% $11,953
Mortgage Research Center, LLC 2 7.13% $8,704
American National Bank and Trust Company 2 7.00% $8,338
PLANET HOME LENDING, LLC 2 6.19% $10,873
RELIANCE FIRST CAPITAL, LLC 2 6.25% $10,804
SUN WEST MORTGAGE COMPANY, INC. 2 7.25% $7,253
AMERICAN FINANCIAL NETWORK, INC. 2 7.25% $9,770
Virginia Credit Union, Inc. 2 6.38% $4,421
Wells Fargo Bank 2 6.56% $8,016
Assurance Financial Group, L.L.C. 2 7.94% $8,638
NEW DAY FINANCIAL, LLC 1 7.75% $10,895
Legends Bank 1 6.63% $10,945
Ixonia Bank 1 7.25% $14,451
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.50% $13,723
OCMBC, INC. 1 7.25% $6,246
GUARANTY HOME MORTGAGE CORPORATION 1 6.63% $11,496
PENTAGON FEDERAL CREDIT UNION 1 5.50% $8,241
PHH Mortgage Corporation 1 5.88% $14,817
GENEVA FINANCIAL, LLC 1 7.75% $11,826
Wyndham Capital Mortgage, Inc. 1 6.25% $13,252
PLAZA HOME MORTGAGE, INC. 1 6.75% $6,673
Presidential Bank, FSB 1 5.75% $13,840
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $15,020
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.75% $10,855
Flagstar Bank, FSB 1 6.50% $12,026
AMERICAN FINANCING CORPORATION 1 6.63% $14,768
RANLIFE, INC. 1 6.38% $7,678
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $11,167
FIRST COLONY MORTGAGE CORPORATION 1 7.63% $15,519
SeaTrust Mortgage Company 1 7.75% $8,839
Blue Ridge Bank 1 7.13% $7,900
Equity Prime Mortgage LLC 1 8.25% $12,717
The Federal Savings Bank 1 5.13% $13,713
DHI MORTGAGE COMPANY, LTD. 1 5.63% $17,141
TIDEWATER MORTGAGE SERVICES, INC. 1 6.50% $22,636
BECKAM FUNDING CORP. 1 7.75% $15,401
TOWNE MORTGAGE COMPANY 1 6.99% $11,942
C&F Select LLC 1 6.75% $8,833
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $15,760
CBM Mortgage, Inc. 1 7.13% $8,289
MIDLAND MORTGAGE CORPORATION 1 6.75% $8,356
M&T Bank 1 6.63% $10,751
MASON MCDUFFIE MORTGAGE CORPORATION 1 6.00% $9,438
LOANLEADERS OF AMERICA, INC. 1 6.50% $12,773
NATIONS DIRECT MORTGAGE, LLC 1 7.25% $18,870
NATIONWIDE MORTGAGE BANKERS, INC. 1 5.75% $13,757

The top Lynchburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 113 FHA loans originated. Their average total fees are $9,951, which is $599 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Lynchburg FHA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($6,559), MOVEMENT MORTGAGE, LLC ($9,353), QUICKEN LOANS, LLC ($9,951), EMBRACE HOME LOANS, INC. ($9,980) and Integrity Home Mortgage Corp ($10,098).

The lowest rate Lynchburg FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.06%), QUICKEN LOANS, LLC (6.21%), CARDINAL FINANCIAL (6.39%), Atlantic Coast Mortgage, LLC (6.47%) and CALIBER HOME LOANS, INC. (6.57%).

Lynchburg FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
LYNCHBURG, VA AMHERST 2022 $420,680 $538,650 $651,050 $809,150
LYNCHBURG, VA APPOMATTOX 2022 $420,680 $538,650 $651,050 $809,150
LYNCHBURG, VA BEDFORD 2022 $420,680 $538,650 $651,050 $809,150
LYNCHBURG, VA CAMPBELL 2022 $420,680 $538,650 $651,050 $809,150
LYNCHBURG, VA LYNCHBURG CITY 2022 $420,680 $538,650 $651,050 $809,150
LYNCHBURG, VA AMHERST 2023 $472,030 $604,400 $730,525 $907,900
LYNCHBURG, VA APPOMATTOX 2023 $472,030 $604,400 $730,525 $907,900
LYNCHBURG, VA BEDFORD 2023 $472,030 $604,400 $730,525 $907,900
LYNCHBURG, VA CAMPBELL 2023 $472,030 $604,400 $730,525 $907,900
LYNCHBURG, VA LYNCHBURG CITY 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lynchburg (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 $219,900 (15.8%) $285,047 (10.3%) 0.82 996
2018-02-01 $221,950 (14.0%) $283,114 (7.2%) 0.81 990
2018-03-01 $229,900 (15.0%) $289,916 (6.3%) 0.81 1,065
2018-04-01 $232,700 (16.4%) $293,423 (8.3%) 0.79 1,119
2018-05-01 $138,800 (-33.9%) $214,187 (-22.6%) 0.46 2,080
2018-06-01 $139,900 (-33.2%) $216,018 (-21.4%) 0.47 2,164
2018-07-01 $139,450 (-32.0%) $214,095 (-22.6%) 0.47 2,199
2018-08-01 $136,250 (-35.1%) $211,025 (-24.6%) 0.46 2,190
2018-09-01 $134,925 (-40.0%) $208,440 (-27.9%) 0.45 2,241
2018-10-01 $132,125 (-39.9%) $205,276 (-28.7%) 0.45 2,219
2018-11-01 $127,500 (-42.0%) $200,669 (-29.4%) 0.43 2,182
2018-12-01 $119,950 (-45.5%) $194,361 (-31.1%) 0.41 2,078
2019-01-01 $119,900 (-45.5%) $192,948 (-32.3%) 0.41 1,898
2019-02-01 $115,225 (-48.1%) $191,941 (-32.2%) 0.39 1,859
2019-03-01 $168,386 (-26.8%) $236,713 (-18.4%) 0.55 1,470
2019-04-01 $239,913 (3.1%) $296,802 (1.2%) 0.76 980
2019-05-01 $241,475 (74.0%) $302,782 (41.4%) 0.75 991
2019-06-01 $239,900 (71.5%) $306,485 (41.9%) 0.75 989
2019-07-01 $241,200 (73.0%) $310,959 (45.2%) 0.76 996
2019-08-01 $241,973 (77.6%) $319,339 (51.3%) 0.77 1,006
2019-09-01 $246,432 (82.6%) $333,173 (59.8%) 0.79 1,017
2019-10-01 $244,405 (85.0%) $337,067 (64.2%) 0.79 1,025
2019-11-01 $235,000 (84.3%) $333,901 (66.4%) 0.77 989
2019-12-01 $230,750 (92.4%) $302,138 (55.5%) 0.77 903
2020-01-01 $238,800 (99.2%) $304,595 (57.9%) 0.80 818
2020-02-01 $249,500 (116.5%) $312,072 (62.6%) 0.82 770
2020-03-01 $252,450 (49.9%) $321,029 (35.6%) 0.79 763
2020-04-01 $253,400 (5.6%) $325,967 (9.8%) 0.79 781
2020-05-01 $255,000 (5.6%) $336,538 (11.2%) 0.78 683
2020-06-01 $266,150 (10.9%) $350,179 (14.3%) 0.78 620
2020-07-01 $261,950 (8.6%) $404,081 (30.0%) 0.76 578
2020-08-01 $259,900 (7.4%) $407,743 (27.7%) 0.74 553
2020-09-01 $259,000 (5.1%) $400,737 (20.3%) 0.74 550
2020-10-01 $249,000 (1.9%) $406,716 (20.7%) 0.71 556
2020-11-01 $249,900 (6.3%) $409,487 (22.6%) 0.73 544
2020-12-01 $244,913 (6.1%) $421,895 (39.6%) 0.73 495
2021-01-01 $249,900 (4.7%) $438,160 (43.9%) 0.75 413
2021-02-01 $256,150 (2.7%) $474,912 (52.2%) 0.75 338
2021-03-01 $257,400 (2.0%) $473,087 (47.4%) 0.73 352
2021-04-01 $277,325 (9.4%) $507,128 (55.6%) 0.75 332
2021-05-01 $274,975 (7.8%) $464,859 (38.1%) 0.73 343
2021-06-01 $288,650 (8.5%) $469,332 (34.0%) 0.76 367
2021-07-01 $279,900 (6.9%) $448,163 (10.9%) 0.74 434
2021-08-01 $277,675 (6.8%) $439,546 (7.8%) 0.74 448
2021-09-01 $290,550 (12.2%) $450,514 (12.4%) 0.77 457
2021-10-01 $289,900 (16.4%) $447,457 (10.0%) 0.77 445
2021-11-01 $295,350 (18.2%) $454,990 (11.1%) 0.79 392
2021-12-01 $289,900 (18.4%) $402,412 (-4.6%) 0.79 338
2022-01-01 $284,900 (14.0%) $355,839 (-18.8%) 0.77 279
2022-02-01 $297,000 (16.0%) $363,157 (-23.5%) 0.77 266
2022-03-01 $322,450 (25.3%) $387,313 (-18.1%) 0.81 264
2022-04-01 $324,988 (17.2%) $387,493 (-23.6%) 0.77 266
2022-05-01 $329,675 (19.9%) $395,404 (-14.9%) 0.75 330
2022-06-01 $334,575 (15.9%) $396,615 (-15.5%) 0.75 395
2022-07-01 $330,000 (17.9%) $411,383 (-8.2%) 0.74 460
2022-08-01 $334,450 (20.5%) $412,731 (-6.1%) 0.77 457
2022-09-01 $317,450 (9.3%) $401,510 (-10.9%) 0.74 435
2022-10-01 $329,900 (13.8%) $409,964 (-8.4%) 0.78 428
2022-11-01 $336,975 (14.1%) $418,160 (-8.1%) 0.81 437
2022-12-01 $329,000 (13.5%) $401,317 (-0.3%) 0.81 396
2023-01-01 $323,500 (13.6%) $399,877 (12.4%) 0.80 369
2023-02-01 $329,913 (11.1%) $406,774 (12.0%) 0.80 334
2023-03-01 $339,450 (5.3%) $418,526 (8.1%) 0.80 348
2023-04-01 $334,900 (3.1%) $420,821 (8.6%) 0.78 379
2023-05-01 $329,500 (-0.1%) $431,384 (9.1%) 0.75 401
2023-06-01 $348,650 (4.2%) $457,478 (15.4%) 0.78 419
2023-07-01 $349,250 (5.8%) $456,974 (11.1%) 0.79 449
2023-08-01 $349,350 (4.5%) $462,692 (12.1%) 0.80 514
2023-09-01 $332,450 (4.7%) $443,546 (10.5%) 0.77 506
2023-10-01 $339,450 (2.9%) $436,305 (6.4%) 0.80 552
2023-11-01 $347,000 (3.0%) $443,251 (6.0%) 0.83 570
2023-12-01 $339,900 (3.3%) $441,167 (9.9%) 0.83 538
2024-01-01 $339,950 (5.1%) $443,663 (11.0%) 0.83 513
2024-02-01 $334,475 (1.4%) $430,428 (5.8%) 0.81 512
2024-03-01 $337,380 (-0.6%) $439,389 (5.0%) 0.79 518
2024-04-01 $344,900 (3.0%) $436,910 (3.8%) 0.80 537
2024-05-01 $354,900 (7.7%) $449,539 (4.2%) 0.80 622
2024-06-01 $349,900 (0.4%) $443,631 (-3.0%) 0.79 686
2024-07-01 $349,900 (0.2%) $434,576 (-4.9%) 0.80 708
2024-08-01 $349,900 (0.2%) $430,575 (-6.9%) 0.81 693
2024-09-01 $349,900 (5.3%) $428,329 (-3.4%) 0.82 715
2024-10-01 $346,200 (2.0%) $435,831 (-0.1%) 0.81 690
2024-11-01 $334,950 (-3.5%) $426,768 (-3.7%) 0.80 706
Lynchburg's median listing price for 2024-11-01 was $334,950, a difference of $-12,050 (-3.5%) versus the prior year and $-11,250 versus the prior month.

Lynchburg's median listing price comes in at 80% of the national average.

Lynchburg's average listing price for 2024-11-01 was $426,768, a difference of $-16,483 (-3.7%) versus the prior year and $-9,063 versus the prior month.

For the 2024-11-01 period, Lynchburg had 706 MLS listings, a difference of 16 listings (2%) versus the prior month and 136 listings (24%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lynchburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 93 days 1,973 sqft
2018-02-01 86 days 1,976 sqft
2018-03-01 64 days 1,990 sqft
2018-04-01 56 days 2,023 sqft
2018-05-01 78 days 2,049 sqft
2018-06-01 82 days 2,084 sqft
2018-07-01 86 days 2,051 sqft
2018-08-01 86 days 2,016 sqft
2018-09-01 88 days 2,005 sqft
2018-10-01 89 days 1,988 sqft
2018-11-01 94 days 1,947 sqft
2018-12-01 110 days 1,920 sqft
2019-01-01 115 days 1,953 sqft
2019-02-01 116 days 1,952 sqft
2019-03-01 90 days 1,992 sqft
2019-04-01 55 days 2,015 sqft
2019-05-01 55 days 2,001 sqft
2019-06-01 57 days 2,070 sqft
2019-07-01 62 days 2,109 sqft
2019-08-01 64 days 2,081 sqft
2019-09-01 66 days 2,052 sqft
2019-10-01 67 days 2,021 sqft
2019-11-01 74 days 1,984 sqft
2019-12-01 82 days 1,955 sqft
2020-01-01 88 days 1,959 sqft
2020-02-01 75 days 1,968 sqft
2020-03-01 57 days 1,984 sqft
2020-04-01 59 days 1,992 sqft
2020-05-01 66 days 2,001 sqft
2020-06-01 64 days 2,097 sqft
2020-07-01 58 days 2,095 sqft
2020-08-01 52 days 2,095 sqft
2020-09-01 53 days 2,042 sqft
2020-10-01 51 days 1,891 sqft
2020-11-01 60 days 1,909 sqft
2020-12-01 65 days 1,867 sqft
2021-01-01 72 days 1,850 sqft
2021-02-01 69 days 1,850 sqft
2021-03-01 47 days 1,841 sqft
2021-04-01 43 days 1,885 sqft
2021-05-01 43 days 1,872 sqft
2021-06-01 41 days 1,887 sqft
2021-07-01 38 days 1,880 sqft
2021-08-01 42 days 1,932 sqft
2021-09-01 42 days 1,896 sqft
2021-10-01 46 days 1,875 sqft
2021-11-01 51 days 1,873 sqft
2021-12-01 58 days 1,793 sqft
2022-01-01 61 days 1,730 sqft
2022-02-01 46 days 1,746 sqft
2022-03-01 36 days 1,870 sqft
2022-04-01 37 days 1,884 sqft
2022-05-01 33 days 1,913 sqft
2022-06-01 33 days 1,967 sqft
2022-07-01 39 days 1,962 sqft
2022-08-01 49 days 1,941 sqft
2022-09-01 51 days 1,852 sqft
2022-10-01 51 days 1,817 sqft
2022-11-01 51 days 1,871 sqft
2022-12-01 61 days 1,800 sqft
2023-01-01 61 days 1,792 sqft
2023-02-01 44 days 1,733 sqft
2023-03-01 44 days 1,817 sqft
2023-04-01 38 days 1,800 sqft
2023-05-01 40 days 1,763 sqft
2023-06-01 47 days 1,898 sqft
2023-07-01 42 days 1,857 sqft
2023-08-01 41 days 1,877 sqft
2023-09-01 50 days 1,895 sqft
2023-10-01 46 days 1,878 sqft
2023-11-01 52 days 1,865 sqft
2023-12-01 60 days 1,871 sqft
2024-01-01 59 days 1,832 sqft
2024-02-01 50 days 1,775 sqft
2024-03-01 51 days 1,784 sqft
2024-04-01 47 days 1,788 sqft
2024-05-01 37 days 1,853 sqft
2024-06-01 40 days 1,833 sqft
2024-07-01 50 days 1,840 sqft
2024-08-01 52 days 1,820 sqft
2024-09-01 52 days 1,800 sqft
2024-10-01 54 days 1,788 sqft
2024-11-01 55 days 1,725 sqft
Lynchburg's median listing age (time on market) for 2024-11-01 was 55 days. This is 6% longer than the same period one year ago.

Lynchburg's median square footage for active listings during the 2024-11-01 period was 1,725 sqft. One year prior, the average listing was 1,865 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).