Omaha FHA Loan Rates, Closing Costs & Stats

OMAHA-COUNCIL BLUFFS, NE-IA

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.

Omaha's 113 lenders originated 2,236 FHA loans during 2022. The total origination value was $481,320,000, with an average FHA loan value of $215,259.

Omaha FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Omaha averaged 6.34% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Omaha's average FHA mortgage closing costs are $6,010.

The average rate for the prior week (2024-02-23) was 6.43% and one month ago for the week of 2024-01-26, the average rate was 5.83%.

The average rate one year ago was 6.26%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.57%.

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

Omaha 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 Omaha level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 209 4.51% $8,404
CHARTER WEST BANK 205 5.16% $7,092
First National Bank of Omaha 122 4.93% $6,364
American National Bank 87 5.04% $6,535
Regent Financial Group, Inc. 85 4.99% $8,039
CMG MORTGAGE, INC. 71 5.18% $9,235
CALIBER HOME LOANS, INC. 64 4.82% $7,912
Plains Commerce Bank 62 4.92% $7,476
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 55 5.25% $8,802
GUILD MORTGAGE COMPANY 53 4.91% $7,394
MORIA DEVELOPMENT, INC. 50 5.24% $9,063
LOANDEPOT.COM, LLC 46 4.76% $9,033
GERSHMAN INVESTMENT CORP. 43 4.87% $7,480
Dundee Bank 42 5.02% $7,419
Mortgage Research Center, LLC 42 5.47% $6,980
Access Bank 40 5.33% $7,574
ARK-LA-TEX FINANCIAL SERVICES, LLC. 40 5.09% $7,810
Mr. Cooper ( Nationstar Mortgage ) 38 4.44% $9,884
UNITED WHOLESALE MORTGAGE, LLC 33 5.04% $8,022
Flagstar Bank, FSB 32 5.36% $8,222
FREEDOM MORTGAGE CORPORATION 32 4.98% $8,214
Prosperity Home Mortgage, LLC 31 5.67% $7,755
AMCAP MORTGAGE, LTD. 28 4.99% $9,117
PENNYMAC LOAN SERVICES, LLC 26 4.01% $8,118
Core Bank 25 4.77% $6,713
AMERISAVE MORTGAGE CORPORATION 25 4.62% $10,931
MUTUAL OF OMAHA MORTGAGE, INC. 24 4.75% $11,825
BROKER SOLUTIONS, INC. 23 4.95% $9,737
CASTLE & COOKE MORTGAGE, LLC 21 5.17% $9,785
CARDINAL FINANCIAL 21 5.13% $10,874
HOME POINT FINANCIAL CORPORATION 20 4.25% $8,025
Gateway First Bank 20 4.80% $6,873
First Bank 18 5.01% $9,838
FLAT BRANCH MORTGAGE, INC. 18 5.34% $7,107
MOVEMENT MORTGAGE, LLC 17 5.26% $8,341
LAKEVIEW LOAN SERVICING, LLC 16 4.16% $5,976
Citizens Bank 14 4.67% $7,697
Lincoln FSB of Nebraska 13 4.84% $6,099
DELMAR FINANCIAL COMPANY 11 5.11% $8,666
Chickasaw Community Bank 11 5.10% $9,225
U.S. Bank 11 5.17% $5,893
EVERETT FINANCIAL, INC. 10 5.19% $5,686
Flanagan State Bank 10 5.34% $9,126
Wells Fargo Bank 9 4.81% $7,551
NEWREZ LLC 9 4.46% $7,625
Servion, Inc. 9 4.38% $5,916
Carrington Mortgage Services, LLC 8 5.63% $11,932
CROSSCOUNTRY MORTGAGE, LLC 8 5.25% $7,550
DHI MORTGAGE COMPANY, LTD. 7 3.86% $10,279
Pinnacle Bank 7 4.75% $7,686
Bank of the West 7 5.20% $8,051
West Gate Bank 7 4.71% $7,650
VILLAGE CAPITAL MORTGAGE 6 3.46% $2,712
The Federal Savings Bank 6 5.31% $10,030
MID AMERICA MORTGAGE, INC. 6 4.52% $5,437
Union Bank and Trust Company 6 5.31% $6,627
CHURCHILL MORTGAGE CORPORATION 6 4.79% $9,361
FRONTIER FINANCIAL, INC. 4 4.56% $5,919
First State Bank 4 4.34% $7,689
Nations Lending Corporation 4 5.38% $11,297
GUARANTEED RATE, INC. 4 6.00% $9,698
BETTER MORTGAGE CORPORATION 3 3.92% $8,994
AMERICAN FINANCING CORPORATION 3 4.17% $11,221
IOWA BANKERS MORTGAGE CORPORATION 3 5.08% $6,663
JPMorgan Chase Bank 3 4.58% $6,527
LIBERTY FIRST 3 4.08% $5,061
NFM, INC. 3 6.29% $8,974
PENTAGON FEDERAL CREDIT UNION 3 4.88% $8,713
POLARIS HOME FUNDING CORP. 3 6.13% $11,748
Wyndham Capital Mortgage, Inc. 3 4.54% $7,957
TruHome Solutions, LLC 2 5.19% $6,412
First Interstate Bank 2 5.13% $5,537
First Guaranty Mortgage Corporation 2 3.44% $6,038
NEW DAY FINANCIAL, LLC 2 5.06% $8,802
PHH Mortgage Corporation 2 4.56% $5,410
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 4.50% $10,508
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.94% $10,278
CHERRY CREEK MORTGAGE, LLC 2 4.44% $2,883
Central National Bank 2 5.25% $7,678
RESIDENTIAL BANCORP 2 5.12% $8,455
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.43% $8,224
Barrington Bank & Trust Company, N.A. 2 4.88% $7,269
AmeriHome Mortgage Company, LLC 2 4.63% $8,542
AMERICAN PACIFIC MORTGAGE CORPORATION 2 5.94% $10,812
Lakeview Community Capital, LLC 2 4.25% $8,966
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 4.63% $13,669
DAS Acquisition Company, LLC 1 6.13% $11,027
Ixonia Bank 1 4.75% $10,916
PLANET HOME LENDING, LLC 1 4.75% $4,161
ZILLOW HOME LOANS, LLC 1 5.63% $8,853
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.38% $9,278
HOMESIDE FINANCIAL, LLC 1 5.63% $6,414
UNITED MORTGAGE CORP 1 5.25% $11,595
Century Mortgage Company DBA Century Lending Company 1 5.25% $10,680
Bank of England 1 5.75% $11,940
Renasant Bank 1 5.13% $10,624
Members Mortgage Services, L.L.C. 1 4.75% $7,265
RUOFF MORTGAGE COMPANY, INC. 1 5.50% $5,799
First State Bank of St. Charles, Missouri 1 2.88% $4,674
CENTENNIAL LENDING, LLC 1 4.63% $5,947
First International Bank & Trust 1 3.75% $4,207
SOVEREIGN LENDING GROUP INCORPORATED 1 4.49% $13,049
FIRST COMMUNITY MORTGAGE, INC. 1 5.50% $6,229
Financial Funding Solutions, Inc. 1 6.25% $5,979
NETWORK CAPITAL FUNDING CORPORATION 1 7.25% $7,056
Strong Home Mortgage, LLC 1 5.88% $5,588
FINANCE OF AMERICA MORTGAGE LLC 1 5.63% $15,173
AMERICAN FINANCIAL RESOURCES, INC. 1 3.50% $7,565
Paramount Bank 1 4.88% $8,836
EMBRACE HOME LOANS, INC. 1 5.75% $11,257
Willamette Valley Bank 1 3.75% $8,033
Peoples Bank 1 6.25% $9,371
BAY EQUITY LLC 1 5.00% $9,298

The top Omaha FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 209 FHA loans originated. Their average total fees are $8,404, which is $1,311 higher than the next largest lender, CHARTER WEST BANK.

The lowest fee Omaha FHA lenders (with over 10 loans originated) are EVERETT FINANCIAL, INC. ($5,686), U.S. Bank ($5,893), LAKEVIEW LOAN SERVICING, LLC ($5,976), Lincoln FSB of Nebraska ($6,099) and First National Bank of Omaha ($6,364).

The lowest rate Omaha FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (4.01%), LAKEVIEW LOAN SERVICING, LLC (4.16%), HOME POINT FINANCIAL CORPORATION (4.25%), Mr. Cooper ( Nationstar Mortgage ) (4.44%) and QUICKEN LOANS, LLC (4.51%).

Omaha FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
OMAHA-COUNCIL BLUFFS, NE-IA HARRISON 2022 $420,680 $538,650 $651,050 $809,150
OMAHA-COUNCIL BLUFFS, NE-IA MILLS 2022 $420,680 $538,650 $651,050 $809,150
OMAHA-COUNCIL BLUFFS, NE-IA POTTAWATTAMIE 2022 $420,680 $538,650 $651,050 $809,150
OMAHA-COUNCIL BLUFFS, NE-IA CASS 2022 $420,680 $538,650 $651,050 $809,150
OMAHA-COUNCIL BLUFFS, NE-IA DOUGLAS 2022 $420,680 $538,650 $651,050 $809,150
OMAHA-COUNCIL BLUFFS, NE-IA SARPY 2022 $420,680 $538,650 $651,050 $809,150
OMAHA-COUNCIL BLUFFS, NE-IA SAUNDERS 2022 $420,680 $538,650 $651,050 $809,150
OMAHA-COUNCIL BLUFFS, NE-IA WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
OMAHA-COUNCIL BLUFFS, NE-IA HARRISON 2023 $472,030 $604,400 $730,525 $907,900
OMAHA-COUNCIL BLUFFS, NE-IA MILLS 2023 $472,030 $604,400 $730,525 $907,900
OMAHA-COUNCIL BLUFFS, NE-IA POTTAWATTAMIE 2023 $472,030 $604,400 $730,525 $907,900
OMAHA-COUNCIL BLUFFS, NE-IA CASS 2023 $472,030 $604,400 $730,525 $907,900
OMAHA-COUNCIL BLUFFS, NE-IA DOUGLAS 2023 $472,030 $604,400 $730,525 $907,900
OMAHA-COUNCIL BLUFFS, NE-IA SARPY 2023 $472,030 $604,400 $730,525 $907,900
OMAHA-COUNCIL BLUFFS, NE-IA SAUNDERS 2023 $472,030 $604,400 $730,525 $907,900
OMAHA-COUNCIL BLUFFS, NE-IA WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Omaha (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 $268,225 (13.3%) $321,358 (12.5%) 0.99 2,014
2018-02-01 $282,300 (10.9%) $333,461 (12.0%) 1.02 1,844
2018-03-01 $288,000 (6.8%) $341,574 (11.6%) 1.01 1,894
2018-04-01 $296,731 (7.9%) $360,474 (15.1%) 1.01 1,972
2018-05-01 $293,163 (6.6%) $341,602 (6.3%) 0.98 2,098
2018-06-01 $290,000 (6.5%) $345,900 (8.2%) 0.97 2,350
2018-07-01 $287,900 (6.7%) $342,710 (7.5%) 0.96 2,510
2018-08-01 $288,450 (9.5%) $338,516 (8.3%) 0.97 2,620
2018-09-01 $279,900 (6.8%) $330,766 (5.9%) 0.94 2,781
2018-10-01 $269,950 (3.9%) $323,404 (3.3%) 0.91 2,850
2018-11-01 $269,050 (0.8%) $321,614 (0.4%) 0.91 2,777
2018-12-01 $279,900 (5.6%) $328,002 (2.8%) 0.97 2,415
2019-01-01 $285,000 (6.3%) $327,731 (2.0%) 0.98 2,142
2019-02-01 $289,825 (2.7%) $333,601 (0.0%) 0.98 2,007
2019-03-01 $303,029 (5.2%) $344,066 (0.7%) 0.99 1,937
2019-04-01 $311,700 (5.0%) $349,559 (-3.0%) 0.99 1,933
2019-05-01 $306,003 (4.4%) $351,254 (2.8%) 0.96 2,097
2019-06-01 $299,000 (3.1%) $349,985 (1.2%) 0.93 2,258
2019-07-01 $299,925 (4.2%) $353,546 (3.2%) 0.94 2,350
2019-08-01 $298,155 (3.4%) $350,284 (3.5%) 0.94 2,443
2019-09-01 $287,886 (2.9%) $339,241 (2.6%) 0.92 2,589
2019-10-01 $279,950 (3.7%) $331,347 (2.5%) 0.90 2,672
2019-11-01 $281,400 (4.6%) $331,683 (3.1%) 0.92 2,481
2019-12-01 $283,250 (1.2%) $331,310 (1.0%) 0.94 2,175
2020-01-01 $291,400 (2.3%) $340,449 (3.9%) 0.97 1,915
2020-02-01 $305,000 (5.2%) $349,526 (4.8%) 1.00 1,802
2020-03-01 $305,000 (0.7%) $355,773 (3.4%) 0.96 1,869
2020-04-01 $306,250 (-1.8%) $354,846 (1.5%) 0.96 1,960
2020-05-01 $315,000 (2.9%) $363,662 (3.5%) 0.96 1,893
2020-06-01 $319,950 (7.0%) $369,698 (5.6%) 0.94 1,696
2020-07-01 $319,500 (6.5%) $367,811 (4.0%) 0.93 1,621
2020-08-01 $313,980 (5.3%) $367,119 (4.8%) 0.90 1,490
2020-09-01 $308,500 (7.2%) $368,515 (8.6%) 0.88 1,482
2020-10-01 $294,975 (5.4%) $362,051 (9.3%) 0.85 1,429
2020-11-01 $288,750 (2.6%) $355,849 (7.3%) 0.84 1,342
2020-12-01 $290,036 (2.4%) $357,124 (7.8%) 0.86 1,221
2021-01-01 $315,000 (8.1%) $370,757 (8.9%) 0.94 1,009
2021-02-01 $322,788 (5.8%) $386,675 (10.6%) 0.94 817
2021-03-01 $322,075 (5.6%) $384,290 (8.0%) 0.91 840
2021-04-01 $314,500 (2.7%) $386,328 (8.9%) 0.85 869
2021-05-01 $305,000 (-3.2%) $391,828 (7.7%) 0.81 922
2021-06-01 $297,975 (-6.9%) $382,130 (3.4%) 0.78 1,008
2021-07-01 $289,900 (-9.3%) $371,666 (1.1%) 0.76 1,160
2021-08-01 $289,900 (-7.7%) $370,023 (0.8%) 0.77 1,184
2021-09-01 $292,450 (-5.2%) $364,030 (-1.2%) 0.78 1,230
2021-10-01 $285,000 (-3.4%) $365,012 (0.8%) 0.76 1,229
2021-11-01 $291,750 (1.0%) $365,592 (2.7%) 0.78 1,116
2021-12-01 $302,500 (4.3%) $373,742 (4.7%) 0.82 886
2022-01-01 $375,000 (19.1%) $414,472 (11.8%) 1.01 668
2022-02-01 $392,050 (21.5%) $427,119 (10.5%) 1.02 614
2022-03-01 $384,838 (19.5%) $424,718 (10.5%) 0.96 650
2022-04-01 $375,000 (19.2%) $426,516 (10.4%) 0.89 718
2022-05-01 $377,919 (23.9%) $435,217 (11.1%) 0.86 917
2022-06-01 $379,995 (27.5%) $437,113 (14.4%) 0.85 1,098
2022-07-01 $380,000 (31.1%) $439,786 (18.3%) 0.86 1,318
2022-08-01 $379,950 (31.1%) $434,309 (17.4%) 0.88 1,549
2022-09-01 $378,150 (29.3%) $433,609 (19.1%) 0.88 1,571
2022-10-01 $389,000 (36.5%) $434,950 (19.2%) 0.92 1,743
2022-11-01 $389,725 (33.6%) $428,454 (17.2%) 0.94 1,794
2022-12-01 $399,000 (31.9%) $435,939 (16.6%) 0.99 1,591
2023-01-01 $411,038 (9.6%) $447,341 (7.9%) 1.02 1,458
2023-02-01 $428,250 (9.2%) $470,280 (10.1%) 1.03 1,309
2023-03-01 $438,000 (13.8%) $482,056 (13.5%) 1.03 1,331
2023-04-01 $435,000 (16.0%) $488,612 (14.6%) 1.01 1,339
2023-05-01 $429,544 (13.7%) $492,191 (13.1%) 0.97 1,415
2023-06-01 $419,975 (10.5%) $489,997 (12.1%) 0.94 1,544
2023-07-01 $400,000 (5.3%) $476,867 (8.4%) 0.91 1,666
2023-08-01 $399,700 (5.2%) $476,695 (9.8%) 0.92 1,680
2023-09-01 $392,995 (3.9%) $463,567 (6.9%) 0.92 1,844
2023-10-01 $389,425 (0.1%) $455,940 (4.8%) 0.92 1,997
2023-11-01 $385,825 (-1.0%) $446,944 (4.3%) 0.92 2,106
2023-12-01 $389,000 (-2.5%) $447,748 (2.7%) 0.95 2,011
2024-01-01 $391,644 (-4.7%) $450,083 (0.6%) 0.96 1,778
Omaha's median listing price for 2024-01-01 was $391,644, a difference of $-19,394 (-4.7%) versus the prior year and $2,644 versus the prior month.

Omaha's median listing price comes in at 96% of the national average.

Omaha's average listing price for 2024-01-01 was $450,083, a difference of $2,742 (0.6%) versus the prior year and $2,335 versus the prior month.

For the 2024-01-01 period, Omaha had 1,778 MLS listings, a difference of -233 listings (-12%) versus the prior month and 320 listings (22%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Omaha (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 61 days 2,079 sqft
2018-02-01 54 days 2,169 sqft
2018-03-01 43 days 2,286 sqft
2018-04-01 37 days 2,350 sqft
2018-05-01 36 days 2,320 sqft
2018-06-01 25 days 2,339 sqft
2018-07-01 30 days 2,304 sqft
2018-08-01 32 days 2,315 sqft
2018-09-01 37 days 2,282 sqft
2018-10-01 38 days 2,197 sqft
2018-11-01 43 days 2,153 sqft
2018-12-01 54 days 2,135 sqft
2019-01-01 56 days 2,133 sqft
2019-02-01 46 days 2,197 sqft
2019-03-01 41 days 2,302 sqft
2019-04-01 29 days 2,366 sqft
2019-05-01 27 days 2,366 sqft
2019-06-01 30 days 2,310 sqft
2019-07-01 33 days 2,357 sqft
2019-08-01 34 days 2,329 sqft
2019-09-01 34 days 2,251 sqft
2019-10-01 36 days 2,183 sqft
2019-11-01 47 days 2,153 sqft
2019-12-01 60 days 2,129 sqft
2020-01-01 62 days 2,153 sqft
2020-02-01 48 days 2,194 sqft
2020-03-01 43 days 2,223 sqft
2020-04-01 42 days 2,279 sqft
2020-05-01 47 days 2,325 sqft
2020-06-01 48 days 2,302 sqft
2020-07-01 50 days 2,302 sqft
2020-08-01 46 days 2,236 sqft
2020-09-01 43 days 2,209 sqft
2020-10-01 45 days 2,095 sqft
2020-11-01 48 days 2,004 sqft
2020-12-01 51 days 1,997 sqft
2021-01-01 53 days 1,975 sqft
2021-02-01 52 days 2,097 sqft
2021-03-01 42 days 2,135 sqft
2021-04-01 34 days 2,136 sqft
2021-05-01 33 days 2,152 sqft
2021-06-01 33 days 2,116 sqft
2021-07-01 33 days 2,038 sqft
2021-08-01 33 days 2,035 sqft
2021-09-01 36 days 1,954 sqft
2021-10-01 37 days 1,963 sqft
2021-11-01 42 days 1,922 sqft
2021-12-01 49 days 1,929 sqft
2022-01-01 47 days 2,079 sqft
2022-02-01 35 days 2,181 sqft
2022-03-01 32 days 2,149 sqft
2022-04-01 29 days 2,160 sqft
2022-05-01 29 days 2,205 sqft
2022-06-01 30 days 2,260 sqft
2022-07-01 31 days 2,286 sqft
2022-08-01 32 days 2,171 sqft
2022-09-01 42 days 2,137 sqft
2022-10-01 39 days 2,200 sqft
2022-11-01 44 days 2,163 sqft
2022-12-01 57 days 2,166 sqft
2023-01-01 67 days 2,199 sqft
2023-02-01 53 days 2,246 sqft
2023-03-01 50 days 2,283 sqft
2023-04-01 49 days 2,304 sqft
2023-05-01 44 days 2,281 sqft
2023-06-01 42 days 2,299 sqft
2023-07-01 38 days 2,224 sqft
2023-08-01 37 days 2,237 sqft
2023-09-01 36 days 2,201 sqft
2023-10-01 37 days 2,189 sqft
2023-11-01 39 days 2,192 sqft
2023-12-01 45 days 2,197 sqft
2024-01-01 55 days 2,196 sqft
Omaha's median listing age (time on market) for 2024-01-01 was 55 days. This is -18% shorter than the same period one year ago.

Omaha's median square footage for active listings during the 2024-01-01 period was 2,196 sqft. One year prior, the average listing was 2,199 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).