Naples FHA Loan Rates, Closing Costs & Stats

NAPLES-MARCO ISLAND, 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.

    Naples's 113 lenders originated 799 FHA loans during 2023. The total origination value was $343,675,000, with an average FHA loan value of $430,131.

    Naples FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Naples averaged 6.84% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Naples's average FHA mortgage closing costs are $11,754.

    The average rate for the prior week (2024-04-12) was 6.73% and one month ago for the week of 2024-03-15, the average rate was 6.5%.

    The average rate one year ago was 6.53%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.07%.

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

    Naples 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 Naples level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CROSSCOUNTRY MORTGAGE, LLC 157 6.78% $20,376
    UNITED WHOLESALE MORTGAGE, LLC 84 6.22% $18,222
    AMERICAN PACIFIC MORTGAGE CORPORATION 67 6.55% $23,288
    LOANDEPOT.COM, LLC 48 6.38% $12,618
    CARDINAL FINANCIAL 45 6.49% $21,264
    QUICKEN LOANS, LLC 42 6.23% $18,243
    EAGLE HOME MORTGAGE, LLC 35 5.99% $13,465
    BROKER SOLUTIONS, INC. 26 6.80% $17,789
    GENEVA FINANCIAL, LLC 15 6.39% $23,004
    MOVEMENT MORTGAGE, LLC 13 6.43% $18,286
    PULTE MORTGAGE LLC 10 6.54% $12,688
    Paramount Residential Mortgage Group, Inc. 10 6.78% $20,036
    AMERICAN FINANCIAL NETWORK, INC. 8 7.25% $20,963
    Mr. Cooper ( Nationstar Mortgage ) 8 5.75% $21,758
    Sierra Pacific Mortgage Company, Inc. 7 6.70% $21,090
    PRIMARY RESIDENTIAL MORTGAGE, INC. 6 6.31% $24,133
    LAKE MICHIGAN CREDIT UNION 5 6.48% $14,569
    NEWREZ LLC 5 6.00% $19,848
    Summit Mortgage Corporation 5 6.67% $20,005
    CHURCHILL MORTGAGE CORPORATION 4 6.38% $18,830
    PENNYMAC LOAN SERVICES, LLC 4 6.47% $21,341
    DHI MORTGAGE COMPANY, LTD. 4 5.91% $14,319
    Century Mortgage Company DBA Century Lending Company 3 6.58% $27,284
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.21% $19,648
    FREEDOM MORTGAGE CORPORATION 3 6.92% $20,584
    GVC MORTGAGE, INC. 3 6.96% $17,695
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.75% $17,462
    AMERICAN FINANCING CORPORATION 3 6.08% $21,598
    AMERISAVE MORTGAGE CORPORATION 3 5.92% $28,871
    CALIBER HOME LOANS, INC. 3 6.04% $15,149
    Carrington Mortgage Services, LLC 3 6.13% $19,703
    HOMESIDE FINANCIAL, LLC 3 6.54% $12,800
    South State Bank 3 6.58% $13,518
    FBC MORTGAGE, LLC 3 6.83% $12,697
    PLAZA HOME MORTGAGE, INC. 2 6.25% $18,186
    AMERICAN BANCSHARES MORTGAGE 2 7.56% $15,637
    American Mortgage & Equity Consultants, Inc. 2 7.38% $23,268
    Armed Forces Bank 2 6.13% $20,555
    Equity Prime Mortgage LLC 2 6.13% $17,248
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.37% $14,636
    GUARANTEED RATE AFFINITY, LLC 2 6.25% $16,068
    GUARANTEED RATE, INC. 2 7.00% $19,059
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.69% $19,315
    INSPIRE HOME LOANS INC. 2 5.69% $9,530
    LEADERONE FINANCIAL CORPORATION 2 6.19% $22,298
    MATTAMY HOME FUNDING, LLC 2 5.00% $24,640
    MID AMERICA MORTGAGE, INC. 2 6.94% $34,112
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.75% $24,537
    NATIONS RELIABLE LENDING, LLC 2 6.75% $20,279
    NETWORK CAPITAL FUNDING CORPORATION 2 6.44% $16,205
    Northpointe Bank 2 7.50% $17,839
    THE MORTGAGE FIRM, INC. 2 6.63% $25,272
    TJC Mortgage, Inc. 2 6.19% $24,376
    U.S. Bank 2 6.44% $18,055
    Waterstone Mortgage Corporation 1 6.13% $24,403
    LEGEND LENDING CORPORATION 1 6.75% $24,751
    First Federal Bank 1 6.38% $17,335
    LOANPAL, LLC 1 5.25% $6,652
    Loan Simple, Inc. 1 6.13% $9,529
    Wells Fargo Bank 1 6.63% $11,458
    MICHIGAN MUTUAL, INC. 1 7.13% $32,234
    TOP FLITE FINANCIAL, INC. 1 7.25% $10,679
    MILEND, INC. 1 5.50% $35,812
    MORTGAGE EQUITY PARTNERS LLC 1 7.13% $14,948
    Mortgage Lenders Investment Trading Corporation 1 8.25% $11,079
    Mortgage Research Center, LLC 1 5.99% $20,855
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $20,983
    FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $23,535
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.13% $21,826
    M&T Bank 1 6.88% $12,294
    UNION HOME MORTGAGE CORP. 1 6.50% $23,349
    MY MORTGAGE, INC. 1 6.63% $15,729
    ACADEMY MORTGAGE CORPORATION 1 6.00% $26,675
    NEAL COMMUNITIES FUNDING, LLC 1 6.75% $15,651
    ZILLOW HOME LOANS, LLC 1 6.75% $14,641
    NEW DAY FINANCIAL, LLC 1 7.50% $6,237
    EVERETT FINANCIAL, INC. 1 6.63% $27,883
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.13% $16,531
    NORWICH COMMERCIAL GROUP, INC. 1 6.13% $14,494
    NP, Inc. 1 7.75% $35,091
    EMM LOANS LLC 1 7.25% $12,354
    DELMAR FINANCIAL COMPANY 1 6.88% $9,917
    PENTAGON FEDERAL CREDIT UNION 1 5.63% $18,524
    PLANET HOME LENDING, LLC 1 6.38% $14,739
    1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 6.75% $14,445
    COMPASS MORTGAGE, INC. 1 6.25% $14,743
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $28,168
    CMG MORTGAGE, INC. 1 6.13% $13,767
    BAY EQUITY LLC 1 6.62% $21,132
    RAPID MORTGAGE COMPANY 1 7.25% $17,076
    READY MORTGAGE LENDERS, LLC 1 6.25% $20,349
    Regions Bank 1 6.63% $14,571
    Residential Mortgage Solutions, Inc. 1 6.38% $18,567
    RUOFF MORTGAGE COMPANY, INC. 1 6.75% $15,163
    Bank of England 1 6.75% $21,331
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.88% $18,886
    SOVEREIGN LENDING GROUP INCORPORATED 1 7.25% $14,704
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.88% $35,474
    AMCAP MORTGAGE, LTD. 1 7.00% $28,261
    GSF Mortgage Corporation 1 5.63% $18,136
    SUN WEST MORTGAGE COMPANY, INC. 1 6.50% $18,819
    TD Bank 1 6.25% $9,287
    GLENDENNING MORTGAGE CORPORATION 1 6.25% $31,841
    Flagstar Bank, FSB 1 6.75% $17,977
    The Federal Savings Bank 1 6.13% $21,295
    FIRST MORTGAGE COMPANY, INC. 1 7.13% $18,264
    HOMESTEAD FUNDING CORP. 1 5.13% $10,452
    Hometown Equity Mortgage, LLC 1 7.75% $16,138
    The Loan Store, Inc. 1 7.25% $29,810
    Ixonia Bank 1 7.75% $16,178
    JPMorgan Chase Bank 1 6.25% $14,672
    Keystone Funding, Inc. 1 6.13% $24,621
    First Horizon Bank 1 7.50% $10,716

    The top Naples FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 157 FHA loans originated. Their average total fees are $20,376, which is $2,153 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Naples FHA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($12,618), PULTE MORTGAGE LLC ($12,688), EAGLE HOME MORTGAGE, LLC ($13,465), BROKER SOLUTIONS, INC. ($17,789) and UNITED WHOLESALE MORTGAGE, LLC ($18,222).

    The lowest rate Naples FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.99%), UNITED WHOLESALE MORTGAGE, LLC (6.22%), QUICKEN LOANS, LLC (6.23%), LOANDEPOT.COM, LLC (6.38%) and GENEVA FINANCIAL, LLC (6.39%).

    Naples FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    NAPLES-MARCO ISLAND, FL COLLIER 2022 $552,000 $706,650 $854,200 $1,061,550
    NAPLES-MARCO ISLAND, FL COLLIER 2023 $672,750 $861,250 $1,041,050 $1,293,750

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Naples (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 $468,900 (-6.0%) $955,497 (-6.6%) 1.74 6,385
    2018-02-01 $469,000 (-5.7%) $938,749 (-7.2%) 1.70 6,867
    2018-03-01 $460,000 (-6.0%) $930,658 (-7.1%) 1.61 7,090
    2018-04-01 $456,100 (-6.7%) $911,095 (-7.9%) 1.55 6,898
    2018-05-01 $449,900 (-5.3%) $893,558 (-8.7%) 1.50 6,574
    2018-06-01 $449,900 (-5.7%) $883,640 (-9.3%) 1.50 6,206
    2018-07-01 $449,700 (-5.3%) $886,938 (-7.1%) 1.50 5,894
    2018-08-01 $445,473 (-5.2%) $883,042 (-8.0%) 1.49 5,719
    2018-09-01 $439,950 (-6.4%) $882,337 (-9.6%) 1.48 5,649
    2018-10-01 $445,000 (-5.1%) $910,227 (-5.9%) 1.51 6,080
    2018-11-01 $449,000 (-4.3%) $920,712 (-3.8%) 1.52 6,595
    2018-12-01 $449,000 (-2.4%) $915,696 (-3.8%) 1.55 6,957
    2019-01-01 $449,450 (-4.2%) $924,565 (-3.2%) 1.55 7,385
    2019-02-01 $454,684 (-3.1%) $923,013 (-1.7%) 1.54 7,862
    2019-03-01 $458,914 (-0.2%) $932,859 (0.2%) 1.50 7,821
    2019-04-01 $458,989 (0.6%) $932,334 (2.3%) 1.46 7,659
    2019-05-01 $450,000 (0.0%) $927,167 (3.8%) 1.41 7,112
    2019-06-01 $450,000 (0.0%) $938,364 (6.2%) 1.41 6,566
    2019-07-01 $449,450 (-0.1%) $918,666 (3.6%) 1.41 6,107
    2019-08-01 $449,245 (0.9%) $920,740 (4.3%) 1.42 5,957
    2019-09-01 $449,614 (2.2%) $919,825 (4.3%) 1.44 5,878
    2019-10-01 $449,950 (1.1%) $923,402 (1.5%) 1.45 5,850
    2019-11-01 $459,000 (2.2%) $950,477 (3.2%) 1.50 6,017
    2019-12-01 $465,000 (3.6%) $960,423 (4.9%) 1.55 6,125
    2020-01-01 $475,000 (5.7%) $997,643 (7.9%) 1.59 6,087
    2020-02-01 $475,000 (4.5%) $991,163 (7.4%) 1.55 6,203
    2020-03-01 $475,000 (3.5%) $1,008,669 (8.1%) 1.49 6,160
    2020-04-01 $469,160 (2.2%) $978,840 (5.0%) 1.47 5,994
    2020-05-01 $473,345 (5.2%) $1,008,953 (8.8%) 1.44 5,683
    2020-06-01 $475,000 (5.6%) $1,025,949 (9.3%) 1.40 5,341
    2020-07-01 $474,000 (5.5%) $1,031,953 (12.3%) 1.37 4,927
    2020-08-01 $475,000 (5.7%) $1,051,742 (14.2%) 1.36 4,621
    2020-09-01 $478,579 (6.4%) $1,064,008 (15.7%) 1.37 4,314
    2020-10-01 $475,000 (5.6%) $1,068,283 (15.7%) 1.36 4,156
    2020-11-01 $479,000 (4.4%) $1,085,720 (14.2%) 1.40 3,915
    2020-12-01 $478,105 (2.8%) $1,105,519 (15.1%) 1.42 3,639
    2021-01-01 $479,000 (0.8%) $1,143,779 (14.7%) 1.43 3,193
    2021-02-01 $497,000 (4.6%) $1,168,993 (17.9%) 1.45 2,417
    2021-03-01 $549,500 (15.7%) $1,276,586 (26.6%) 1.56 1,796
    2021-04-01 $582,100 (24.1%) $1,362,758 (39.2%) 1.58 1,491
    2021-05-01 $600,000 (26.8%) $1,461,823 (44.9%) 1.59 1,263
    2021-06-01 $640,000 (34.7%) $1,522,698 (48.4%) 1.68 1,232
    2021-07-01 $649,900 (37.1%) $1,577,046 (52.8%) 1.71 1,281
    2021-08-01 $659,500 (38.8%) $1,557,300 (48.1%) 1.76 1,290
    2021-09-01 $666,000 (39.2%) $1,615,310 (51.8%) 1.78 1,259
    2021-10-01 $699,950 (47.4%) $1,687,676 (58.0%) 1.87 1,264
    2021-11-01 $728,499 (52.1%) $1,787,211 (64.6%) 1.95 1,192
    2021-12-01 $742,450 (55.3%) $1,844,149 (66.8%) 2.01 1,166
    2022-01-01 $769,450 (60.6%) $1,928,505 (68.6%) 2.08 1,068
    2022-02-01 $798,350 (60.6%) $1,969,890 (68.5%) 2.08 1,024
    2022-03-01 $799,500 (45.5%) $1,863,799 (46.0%) 2.00 1,211
    2022-04-01 $849,900 (46.0%) $1,839,091 (35.0%) 2.03 1,509
    2022-05-01 $825,000 (37.5%) $1,745,267 (19.4%) 1.89 1,903
    2022-06-01 $799,945 (25.0%) $1,692,527 (11.2%) 1.78 2,269
    2022-07-01 $790,000 (21.6%) $1,676,639 (6.3%) 1.78 2,517
    2022-08-01 $766,750 (16.3%) $1,609,801 (3.4%) 1.77 2,467
    2022-09-01 $778,950 (17.0%) $1,625,772 (0.7%) 1.82 2,347
    2022-10-01 $795,000 (13.6%) $1,673,020 (-0.9%) 1.87 2,379
    2022-11-01 $799,000 (9.7%) $1,765,838 (-1.2%) 1.92 2,655
    2022-12-01 $811,139 (9.3%) $1,827,719 (-0.9%) 2.00 2,765
    2023-01-01 $850,950 (10.6%) $1,907,779 (-1.1%) 2.11 2,985
    2023-02-01 $879,500 (10.2%) $2,054,097 (4.3%) 2.12 3,141
    2023-03-01 $892,000 (11.6%) $2,244,743 (20.4%) 2.10 3,218
    2023-04-01 $899,000 (5.8%) $2,280,143 (24.0%) 2.09 3,216
    2023-05-01 $899,748 (9.1%) $2,290,211 (31.2%) 2.04 3,131
    2023-06-01 $889,950 (11.3%) $2,193,264 (29.6%) 2.00 3,087
    2023-07-01 $854,500 (8.2%) $2,157,210 (28.7%) 1.94 2,990
    2023-08-01 $845,013 (10.2%) $2,092,003 (30.0%) 1.94 2,886
    2023-09-01 $839,900 (7.8%) $2,025,423 (24.6%) 1.96 2,977
    2023-10-01 $850,000 (6.9%) $2,003,511 (19.8%) 2.00 3,399
    2023-11-01 $854,725 (7.0%) $2,029,371 (14.9%) 2.04 3,974
    2023-12-01 $855,000 (5.4%) $2,035,302 (11.4%) 2.09 4,324
    2024-01-01 $850,000 (-0.1%) $2,025,147 (6.2%) 2.08 4,839
    2024-02-01 $849,950 (-3.4%) $2,057,708 (0.2%) 2.05 5,438
    2024-03-01 $849,000 (-4.8%) $2,049,294 (-8.7%) 2.00 5,852
    Naples's median listing price for 2024-03-01 was $849,000, a difference of $-43,000 (-4.8%) versus the prior year and $-950 versus the prior month.

    Naples's median listing price comes in at 200% of the national average.

    Naples's average listing price for 2024-03-01 was $2,049,294, a difference of $-195,449 (-8.7%) versus the prior year and $-8,414 versus the prior month.

    For the 2024-03-01 period, Naples had 5,852 MLS listings, a difference of 414 listings (8%) versus the prior month and 2,634 listings (82%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Naples (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 80 days 1,943 sqft
    2018-02-01 75 days 1,925 sqft
    2018-03-01 73 days 1,910 sqft
    2018-04-01 81 days 1,889 sqft
    2018-05-01 87 days 1,874 sqft
    2018-06-01 96 days 1,883 sqft
    2018-07-01 103 days 1,889 sqft
    2018-08-01 106 days 1,890 sqft
    2018-09-01 107 days 1,884 sqft
    2018-10-01 99 days 1,882 sqft
    2018-11-01 88 days 1,880 sqft
    2018-12-01 86 days 1,869 sqft
    2019-01-01 87 days 1,866 sqft
    2019-02-01 85 days 1,865 sqft
    2019-03-01 85 days 1,865 sqft
    2019-04-01 88 days 1,862 sqft
    2019-05-01 97 days 1,861 sqft
    2019-06-01 102 days 1,868 sqft
    2019-07-01 108 days 1,866 sqft
    2019-08-01 109 days 1,868 sqft
    2019-09-01 106 days 1,868 sqft
    2019-10-01 102 days 1,876 sqft
    2019-11-01 87 days 1,883 sqft
    2019-12-01 85 days 1,880 sqft
    2020-01-01 87 days 1,895 sqft
    2020-02-01 86 days 1,900 sqft
    2020-03-01 80 days 1,900 sqft
    2020-04-01 90 days 1,883 sqft
    2020-05-01 99 days 1,885 sqft
    2020-06-01 107 days 1,882 sqft
    2020-07-01 106 days 1,870 sqft
    2020-08-01 94 days 1,832 sqft
    2020-09-01 94 days 1,833 sqft
    2020-10-01 83 days 1,819 sqft
    2020-11-01 74 days 1,824 sqft
    2020-12-01 74 days 1,802 sqft
    2021-01-01 73 days 1,777 sqft
    2021-02-01 60 days 1,786 sqft
    2021-03-01 49 days 1,833 sqft
    2021-04-01 44 days 1,854 sqft
    2021-05-01 43 days 1,869 sqft
    2021-06-01 44 days 1,922 sqft
    2021-07-01 44 days 1,902 sqft
    2021-08-01 52 days 1,889 sqft
    2021-09-01 57 days 1,924 sqft
    2021-10-01 58 days 1,944 sqft
    2021-11-01 58 days 2,000 sqft
    2021-12-01 50 days 1,988 sqft
    2022-01-01 54 days 1,971 sqft
    2022-02-01 36 days 1,936 sqft
    2022-03-01 30 days 1,915 sqft
    2022-04-01 31 days 1,904 sqft
    2022-05-01 36 days 1,883 sqft
    2022-06-01 40 days 1,881 sqft
    2022-07-01 51 days 1,868 sqft
    2022-08-01 61 days 1,866 sqft
    2022-09-01 69 days 1,879 sqft
    2022-10-01 74 days 1,888 sqft
    2022-11-01 67 days 1,882 sqft
    2022-12-01 65 days 1,894 sqft
    2023-01-01 67 days 1,924 sqft
    2023-02-01 60 days 1,914 sqft
    2023-03-01 54 days 1,921 sqft
    2023-04-01 58 days 1,906 sqft
    2023-05-01 62 days 1,908 sqft
    2023-06-01 67 days 1,871 sqft
    2023-07-01 75 days 1,857 sqft
    2023-08-01 80 days 1,853 sqft
    2023-09-01 75 days 1,848 sqft
    2023-10-01 67 days 1,847 sqft
    2023-11-01 60 days 1,835 sqft
    2023-12-01 65 days 1,820 sqft
    2024-01-01 72 days 1,821 sqft
    2024-02-01 67 days 1,814 sqft
    2024-03-01 64 days 1,819 sqft
    Naples's median listing age (time on market) for 2024-03-01 was 64 days. This is 19% longer than the same period one year ago.

    Naples's median square footage for active listings during the 2024-03-01 period was 1,819 sqft. One year prior, the average listing was 1,921 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).