Oakland FHA Loans

OAKLAND-BERKELEY-LIVERMORE, CA

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.

Oakland's 180 lenders originated 4,730 FHA loans during 2021. The total origination value was $2,397,040,000, with an average FHA loan value of $506,774.

Oakland FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Oakland averaged 4.25% for the week of 2022-03-25, compared to the national average (all FHA variants) of 4.648% for the same period.

The average rate for the prior week (2022-03-18) was 4.26% and one month ago for the week of 2022-02-18, the average rate was 4.19%.

The average rate one year ago was 3.22%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.19%.

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

Oakland FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Oakland level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 380 2.63% $12,134
CALIBER HOME LOANS, INC. 258 2.81% $14,203
UNITED WHOLESALE MORTGAGE, LLC 257 2.71% $15,955
FREEDOM MORTGAGE CORPORATION 175 2.63% $10,261
LOANDEPOT.COM, LLC 172 3.05% $16,480
AMERICAN PACIFIC MORTGAGE CORPORATION 148 3.02% $16,716
LAKEVIEW LOAN SERVICING, LLC 111 2.74% $9,582
Mr. Cooper ( Nationstar Mortgage ) 102 2.96% $8,869
Commerce Home Mortgage, Inc. 97 3.23% $17,357
HOMEBRIDGE FINANCIAL SERVICES, INC. 87 2.86% $15,433
GUARANTEED RATE, INC. 75 2.89% $16,949
Carrington Mortgage Services, LLC 69 3.10% $16,521
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 63 3.18% $18,138
PENNYMAC LOAN SERVICES, LLC 63 2.88% $10,556
GUILD MORTGAGE COMPANY 63 2.86% $15,959
HOME POINT FINANCIAL CORPORATION 57 2.72% $13,935
CROSSCOUNTRY MORTGAGE, LLC 57 3.01% $17,789
FINANCE OF AMERICA MORTGAGE LLC 53 2.79% $15,304
Lakeview Community Capital, LLC 51 2.75% $9,007
CMG MORTGAGE, INC. 50 3.04% $21,908
NEWREZ LLC 43 2.73% $11,083
LENDUS, LLC 37 2.70% $14,528
VILLAGE CAPITAL & INVESTMENT LLC 36 2.44% $5,910
MASON MCDUFFIE MORTGAGE CORPORATION 35 2.89% $16,031
ALAMEDA MORTGAGE CORPORATION 34 2.98% $15,257
BROKER SOLUTIONS, INC. 34 2.98% $15,259
Paramount Residential Mortgage Group, Inc. 34 3.10% $15,227
AMERICAN FINANCIAL NETWORK, INC. 33 2.98% $26,902
Platinum Home Mortgage Corporation 29 3.01% $20,289
PLANET HOME LENDING, LLC 27 2.83% $13,364
KBHS HOME LOANS, LLC 27 2.92% $18,570
DHI MORTGAGE COMPANY, LTD. 26 2.62% $15,107
SUN WEST MORTGAGE COMPANY, INC. 26 2.97% $15,647
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 23 2.97% $13,620
SUMMIT FUNDING, INC. 23 3.08% $18,723
Equity Prime Mortgage LLC 22 2.89% $18,092
BECKAM FUNDING CORP. 21 3.84% $26,304
BAY EQUITY LLC 20 3.10% $17,668
EVERETT FINANCIAL, INC. 20 3.26% $13,251
AmeriHome Mortgage Company, LLC 19 2.66% $10,389
LAND HOME FINANCIAL SERVICES, INC. 17 3.09% $17,069
AMERISAVE MORTGAGE CORPORATION 17 2.89% $14,125
PRIMARY RESIDENTIAL MORTGAGE, INC. 17 3.04% $20,624
NATIONS DIRECT MORTGAGE, LLC 17 2.85% $17,623
MOUNTAIN WEST FINANCIAL, INC. 15 3.37% $22,521
MOVEMENT MORTGAGE, LLC 14 2.91% $15,843
ENVOY MORTGAGE, LTD 13 3.15% $15,817
Sierra Pacific Mortgage Company, Inc. 12 3.08% $19,077
OCMBC, INC. 11 2.93% $14,351
First Guaranty Mortgage Corporation 10 2.79% $12,380
Hometown Equity Mortgage, LLC 10 3.31% $19,677
INSPIRE HOME LOANS INC. 10 3.05% $17,564
InterContinental Capital Group, Inc 9 2.49% $9,082
SNAPFI, INC. 9 2.99% $15,964
South Pacific Financial Corporation 9 3.07% $20,756
Nations Lending Corporation 9 3.06% $17,384
Golden Empire Mortgage, Inc. 8 3.02% $19,297
U.S. Bank 8 2.91% $13,549
STEARNS LENDING, LLC 8 3.03% $12,151
Flagstar Bank, FSB 8 3.05% $17,725
PULTE MORTGAGE LLC 7 2.98% $13,321
PLAZA HOME MORTGAGE, INC. 7 2.78% $12,315
S1L, Inc. 7 3.07% $17,831
ROUNDPOINT MORTGAGE SERVICING CORPORATION 6 3.02% $16,379
The Federal Savings Bank 6 2.75% $10,442
PREMIER LENDING, INC. 6 2.96% $19,316
JPMorgan Chase Bank 5 3.00% $10,133
DIGNIFIED HOME LOANS, LLC 5 2.55% $9,427
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 3.68% $27,773
NFM, INC. 5 3.23% $16,163
MUFG Union Bank 5 2.70% $14,683
GUARANTEED RATE AFFINITY, LLC 5 2.95% $13,317
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 2.58% $18,689
MID AMERICA MORTGAGE, INC. 5 2.88% $6,641
TOP FLITE FINANCIAL, INC. 5 3.18% $29,086
LADERA LENDING, INC. 5 2.58% $12,280
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 5 3.53% $21,258
DATA MORTGAGE, INC. 4 3.44% $14,361
DRAPER AND KRAMER MORTGAGE CORP. 4 2.66% $15,535
HOMESIDE FINANCIAL, LLC 4 3.00% $19,198
Bank of the West 4 3.53% $11,789
PANORAMA MORTGAGE GROUP, LLC 4 3.42% $21,166
SOVEREIGN LENDING GROUP INCORPORATED 4 2.63% $13,458
WESTERN EXPRESS LENDING 4 2.50% $10,846
LOANPAL, LLC 4 2.81% $13,904
BEST CAPITAL FUNDING 3 2.96% $18,373
Amerifirst Financial, Inc. 3 2.83% $15,047
CELEBRITY HOME LOANS, LLC 3 3.33% $15,913
Century Mortgage Company DBA Century Lending Company 3 2.88% $15,386
First Bank 3 2.29% $14,563
HOMEAMERICAN MORTGAGE CORPORATION 3 3.21% $13,876
Mortgage Research Center, LLC 3 2.83% $13,084
MUTUAL OF OMAHA MORTGAGE, INC. 3 3.00% $17,611
NEXERA HOLDING LLC 3 2.96% $16,669
PHH Mortgage Corporation 3 2.75% $11,339
THE GOLDEN 1 3 2.83% $20,339
PRIMUS LENDING CORP. 2 2.94% $19,526
CANOPY MORTGAGE, LLC 2 2.56% $27,961
EMBRACE HOME LOANS, INC. 2 2.56% $13,595
PARKSIDE LENDING, LLC 2 2.63% $12,449
NATIONWIDE MORTGAGE BANKERS, INC. 2 3.13% $16,286
Manufacturers and Traders Trust Company 2 3.13% $13,827
GRANDE HOMES, INC. 2 2.63% $14,300
TRAVIS CREDIT UNION 2 2.63% $9,318
Franklin Loan Corporation 2 3.50% $16,095
CALCULATED RISK ANALYTICS LLC 2 2.88% $12,533
CALCON MUTUAL MORTGAGE LLC 2 3.31% $13,998
SCENIC OAKS FUNDING, INC. 2 2.44% $15,134
HOME APPROVALS DIRECT, INC. 2 2.44% $12,323
MORIA DEVELOPMENT, INC. 2 3.13% $16,386
VISION ONE MORTGAGE, INC. 2 3.25% $7,415
Wells Fargo Bank 2 3.75% $9,088
MEGA CAPITAL FUNDING, INC. 2 2.69% $21,339
GENEVA FINANCIAL, LLC 2 3.19% $12,439
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 3.06% $27,824
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 2 3.50% $25,261
Evolve Bank & Trust 1 3.75% $10,947
OPEN MORTGAGE, LLC 1 2.50% $11,511
DIRECTORS MORTGAGE, INC. 1 3.75% $9,369
Peoples Bank 1 3.75% $10,954
Wyndham Capital Mortgage, Inc. 1 3.25% $5,616
DEL SUR CORPORATION 1 2.63% $19,295
DAS Acquisition Company, LLC 1 3.38% $15,835
COUNTRYPLACE MORTGAGE, LTD. 1 5.25% $23,570
PNC Bank 1 3.13% $12,212
Colten Mortgage, LLC 1 2.50% $18,076
COASTAL FUNDING SLC, INC. 1 2.25% $22,773
Prime Choice Funding Inc. 1 2.75% $6,137
CLEARPATH LENDING 1 2.75% $7,186
CAMPOS FINANCIAL CORP. 1 3.25% $28,183
RANLIFE, INC. 1 2.75% $13,341
RELIANCE FIRST CAPITAL, LLC 1 2.63% $13,552
RESIDENTIAL BANCORP. 1 2.88% $16,141
Residential Mortgage Solutions, Inc. 1 2.25% $15,642
RMS & Associates 1 3.63% $12,548
BETTER MORTGAGE CORPORATION 1 2.25% $10,912
ACADEMY MORTGAGE CORPORATION 1 2.25% $17,888
BELEM SERVICING LLC 1 2.63% $30,831
Bank of England 1 2.88% $17,449
STARBOARD FINANCIAL MANAGEMENT, LLC 1 2.38% $7,789
Bank of America 1 3.38% $19,893
AUGUSTA FINANCIAL, INC. 1 2.63% $20,563
AmRes Corporation 1 2.38% $11,231
SWBC MORTGAGE CORPORATION 1 3.63% $13,853
Ameris Bank 1 2.50% $5,688
ZILLOW HOME LOANS, LLC 1 2.75% $10,703
TJC Mortgage, Inc. 1 3.25% $10,947
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.75% $7,570
TOWNE MORTGAGE COMPANY 1 4.25% $14,980
TruHome Solutions, LLC 1 2.25% $19,011
UNITED SECURITY FINANCIAL CORP 1 2.50% $8,964
AMERICAN FINANCING CORPORATION 1 3.00% $27,672
ALL WESTERN MORTGAGE, INC. 1 3.50% $15,664
Utah Mortgage Loan Corporation 1 2.88% $25,836
AHL FUNDING 1 4.25% $19,222
JMJ FINANCIAL GROUP 1 3.13% $18,007
JMAC LENDING, INC. 1 2.38% $21,167
INTERNATIONAL CITY MORTGAGE, INC. 1 2.88% $18,727
LEADERONE FINANCIAL CORPORATION 1 3.13% $22,673
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.00% $13,261
INTERCAP LENDING INC. 1 2.63% $16,847
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 2.88% $18,048
LOANLEADERS OF AMERICA, INC. 1 3.25% $15,971
Home Mortgage Alliance Corp 1 3.25% $24,192
Magnolia Bank 1 3.50% $23,570
MANN FINANCIAL INC. 1 4.13% $19,329
HOME FUNDING CORPORATION 1 4.00% $21,812
MICHIGAN MUTUAL, INC. 1 3.13% $25,553
WALL FINANCIAL, INC. 1 2.38% $9,634
HighTechLending Inc 1 2.63% $16,680
GoPrime Mortgage, Inc. 1 3.13% $13,445
Goldwater Bank, N.A. 1 2.88% $16,365
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.75% $13,851
NATIONS RELIABLE LENDING, LLC 1 2.63% $12,747
NBKC BANK 1 2.63% $19,397
NETWORK CAPITAL FUNDING CORPORATION 1 3.13% $27,269
A&D Mortgage LLC 1 2.50% $12,785
FBC MORTGAGE, LLC 1 2.75% $14,880
NMSI, INC. 1 3.25% $15,020
OCEANSIDE MORTGAGE COMPANY 1 2.75% $10,483

The top Oakland FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 380 FHA loans originated. Their average total fees are $12,134, which is $2,069 lower than the next largest lender, CALIBER HOME LOANS, INC..

The lowest fee Oakland FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($5,910), Mr. Cooper ( Nationstar Mortgage ) ($8,869), Lakeview Community Capital, LLC ($9,007), LAKEVIEW LOAN SERVICING, LLC ($9,582) and FREEDOM MORTGAGE CORPORATION ($10,261).

The lowest rate Oakland FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.44%), DHI MORTGAGE COMPANY, LTD. (2.62%), FREEDOM MORTGAGE CORPORATION (2.63%), QUICKEN LOANS, LLC (2.63%) and AmeriHome Mortgage Company, LLC (2.66%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Oakland (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 $832,915 (4.3%) $1,485,691 (14.7%) 3.07 2,454
2018-02-01 $894,500 (6.6%) $1,527,161 (11.4%) 3.23 2,923
2018-03-01 $939,000 (5.9%) $1,557,480 (10.1%) 3.25 3,362
2018-04-01 $981,500 (9.7%) $1,627,669 (10.6%) 3.29 3,858
2018-05-01 $992,500 (10.4%) $1,631,792 (10.6%) 3.31 4,356
2018-06-01 $980,000 (8.9%) $1,586,014 (7.6%) 3.27 4,862
2018-07-01 $922,500 (5.4%) $1,505,141 (5.4%) 3.08 5,230
2018-08-01 $889,750 (4.7%) $1,367,976 (-0.2%) 2.97 5,420
2018-09-01 $899,000 (3.9%) $1,380,708 (-3.8%) 3.01 6,521
2018-10-01 $899,000 (1.0%) $1,390,218 (-7.7%) 3.01 6,733
2018-11-01 $887,444 (-0.2%) $1,454,799 (-4.5%) 2.98 6,398
2018-12-01 $849,000 (-2.3%) $1,321,150 (-14.6%) 2.91 4,585
2019-01-01 $822,444 (-1.3%) $1,281,720 (-13.7%) 2.84 3,911
2019-02-01 $878,000 (-1.8%) $1,392,919 (-8.8%) 2.94 4,470
2019-03-01 $905,143 (-3.6%) $1,481,646 (-4.9%) 2.95 4,885
2019-04-01 $938,000 (-4.4%) $1,523,268 (-6.4%) 2.95 5,273
2019-05-01 $952,500 (-4.0%) $1,495,179 (-8.4%) 2.94 5,904
2019-06-01 $949,950 (-3.1%) $1,469,299 (-7.4%) 2.92 6,445
2019-07-01 $927,000 (0.5%) $1,511,051 (0.4%) 2.88 6,372
2019-08-01 $910,657 (2.4%) $1,486,560 (8.7%) 2.87 6,238
2019-09-01 $925,000 (2.9%) $1,470,599 (6.5%) 2.94 6,177
2019-10-01 $946,500 (5.3%) $1,522,534 (9.5%) 3.02 6,536
2019-11-01 $949,950 (7.0%) $1,628,141 (11.9%) 3.07 5,321
2019-12-01 $897,250 (5.7%) $1,711,252 (29.5%) 2.99 3,202
2020-01-01 $893,500 (8.6%) $1,682,109 (31.2%) 2.98 2,718
2020-02-01 $969,950 (10.5%) $1,703,609 (22.3%) 3.13 3,486
2020-03-01 $987,475 (9.1%) $1,666,066 (12.5%) 3.09 3,860
2020-04-01 $950,000 (1.3%) $1,566,455 (2.8%) 2.96 3,669
2020-05-01 $999,000 (4.9%) $1,631,205 (9.1%) 3.03 4,853
2020-06-01 $1,075,000 (13.2%) $1,673,197 (13.9%) 3.14 5,218
2020-07-01 $1,084,000 (16.9%) $1,688,769 (11.8%) 3.11 5,348
2020-08-01 $1,050,000 (15.3%) $1,693,359 (13.9%) 3.00 5,513
2020-09-01 $1,067,444 (15.4%) $1,710,780 (16.3%) 3.05 5,702
2020-10-01 $1,075,000 (13.6%) $1,704,790 (12.0%) 3.07 6,146
2020-11-01 $1,050,000 (10.5%) $1,687,095 (3.6%) 3.01 5,521
2020-12-01 $998,940 (11.3%) $1,715,364 (0.2%) 2.93 3,965
2021-01-01 $995,000 (11.4%) $1,765,083 (4.9%) 2.93 3,084
2021-02-01 $999,997 (3.1%) $1,783,564 (4.7%) 2.88 3,223
2021-03-01 $1,021,500 (3.5%) $1,869,112 (12.2%) 2.86 3,354
2021-04-01 $1,049,500 (10.5%) $1,871,486 (19.5%) 2.82 3,430
2021-05-01 $1,088,000 (8.9%) $1,891,446 (16.0%) 2.86 3,463
2021-06-01 $1,079,000 (0.4%) $1,809,889 (8.2%) 2.80 3,872
2021-07-01 $999,500 (-7.8%) $1,709,988 (1.3%) 2.60 4,134
2021-08-01 $995,000 (-5.2%) $1,648,041 (-2.7%) 2.62 4,245
2021-09-01 $993,500 (-6.9%) $1,704,806 (-0.4%) 2.61 4,585
2021-10-01 $997,000 (-7.3%) $1,774,651 (4.1%) 2.62 4,575
2021-11-01 $984,450 (-6.2%) $1,795,658 (6.4%) 2.59 3,554
2021-12-01 $954,000 (-4.5%) $1,842,466 (7.4%) 2.54 2,340
2022-01-01 $949,000 (-4.6%) $1,746,953 (-1.0%) 2.53 2,009
Oakland's median listing price for 2022-01-01 was $949,000, a difference of $-46,000 (-4.6%) versus the prior year and $-5,000 versus the prior month.

Oakland's median listing price comes in at 253% of the national average.

Oakland's average listing price for 2022-01-01 was $1,746,953, a difference of $-18,130 (-1.0%) versus the prior year and $-95,513 versus the prior month.

For the 2022-01-01 period, Oakland had 2,009 MLS listings, a difference of -331 listings (-14%) versus the prior month and -1,075 listings (-35%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Oakland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 31 days 1,710 sqft
2018-02-01 19 days 1,736 sqft
2018-03-01 22 days 1,750 sqft
2018-04-01 23 days 1,781 sqft
2018-05-01 21 days 1,803 sqft
2018-06-01 24 days 1,780 sqft
2018-07-01 29 days 1,735 sqft
2018-08-01 29 days 1,701 sqft
2018-09-01 27 days 1,686 sqft
2018-10-01 31 days 1,687 sqft
2018-11-01 37 days 1,655 sqft
2018-12-01 50 days 1,609 sqft
2019-01-01 49 days 1,595 sqft
2019-02-01 27 days 1,631 sqft
2019-03-01 28 days 1,691 sqft
2019-04-01 28 days 1,757 sqft
2019-05-01 28 days 1,811 sqft
2019-06-01 30 days 1,787 sqft
2019-07-01 35 days 1,740 sqft
2019-08-01 36 days 1,726 sqft
2019-09-01 35 days 1,722 sqft
2019-10-01 34 days 1,706 sqft
2019-11-01 42 days 1,703 sqft
2019-12-01 57 days 1,707 sqft
2020-01-01 54 days 1,680 sqft
2020-02-01 18 days 1,723 sqft
2020-03-01 28 days 1,760 sqft
2020-04-01 37 days 1,764 sqft
2020-05-01 33 days 1,760 sqft
2020-06-01 30 days 1,702 sqft
2020-07-01 30 days 1,625 sqft
2020-08-01 31 days 1,569 sqft
2020-09-01 30 days 1,533 sqft
2020-10-01 29 days 1,525 sqft
2020-11-01 40 days 1,500 sqft
2020-12-01 51 days 1,479 sqft
2021-01-01 46 days 1,454 sqft
2021-02-01 28 days 1,485 sqft
2021-03-01 29 days 1,530 sqft
2021-04-01 30 days 1,548 sqft
2021-05-01 28 days 1,562 sqft
2021-06-01 28 days 1,560 sqft
2021-07-01 28 days 1,546 sqft
2021-08-01 29 days 1,548 sqft
2021-09-01 29 days 1,538 sqft
2021-10-01 30 days 1,514 sqft
2021-11-01 38 days 1,502 sqft
2021-12-01 44 days 1,455 sqft
2022-01-01 39 days 1,423 sqft
Oakland's median listing age (time on market) for 2022-01-01 was 39 days. This is -15% shorter than the same period one year ago.

Oakland's median square footage for active listings during the 2022-01-01 period was 1,423 sqft. One year prior, the average listing was 1,454 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).