Oxnard FHA Loan Rates, Closing Costs & Stats

OXNARD-THOUSAND OAKS-VENTURA, CA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Oxnard's 89 lenders originated 682 FHA loans during 2023. The total origination value was $413,220,000, with an average FHA loan value of $605,894.

    Oxnard FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Oxnard averaged 6.31% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Oxnard's average FHA mortgage closing costs are $15,200.

    The average rate for the prior week (2024-12-06) was 6.48% and one month ago for the week of 2024-11-08, the average rate was 6.35%.

    The average rate one year ago was 6.96%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

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

    Oxnard 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 Oxnard level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 125 6.02% $24,823
    QUICKEN LOANS, LLC 56 6.02% $21,682
    Golden Empire Mortgage, Inc. 23 6.46% $24,811
    OCMBC, INC. 22 6.32% $22,797
    LOANDEPOT.COM, LLC 16 6.20% $21,581
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.61% $24,251
    DIGNIFIED HOME LOANS, LLC 13 6.16% $27,552
    CMG MORTGAGE, INC. 12 6.79% $24,683
    AUGUSTA FINANCIAL, INC. 11 6.07% $21,690
    NEWREZ LLC 11 5.77% $23,772
    PENNYMAC LOAN SERVICES, LLC 10 6.52% $26,140
    FREEDOM MORTGAGE CORPORATION 9 6.43% $32,234
    CUSTOMER SERVICE MORTGAGE CORPORATION 9 6.75% $20,731
    DRAPER AND KRAMER MORTGAGE CORP. 9 6.29% $19,885
    Nations Lending Corporation 8 6.98% $19,392
    Paramount Residential Mortgage Group, Inc. 8 6.36% $24,384
    MLD MORTGAGE INC. 8 6.44% $25,172
    AXIA FINANCIAL, LLC 7 5.87% $29,155
    HOMEAMERICAN MORTGAGE CORPORATION 7 5.29% $13,653
    Flagstar Bank, FSB 7 6.59% $20,644
    BECKAM FUNDING CORP. 7 7.03% $43,277
    SUN WEST MORTGAGE COMPANY, INC. 7 6.29% $20,680
    Prosperity Home Mortgage, LLC 6 6.00% $25,045
    NATIONS DIRECT MORTGAGE, LLC 6 6.73% $23,000
    Century Mortgage Company DBA Century Lending Company 6 6.08% $25,634
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 5 5.35% $18,810
    Hometown Equity Mortgage, LLC 5 6.63% $24,227
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.25% $20,876
    GUARANTEED RATE, INC. 4 5.98% $19,582
    PLAZA HOME MORTGAGE, INC. 4 6.31% $19,738
    AMERICAN FINANCIAL NETWORK, INC. 4 6.28% $23,849
    MOVEMENT MORTGAGE, LLC 4 6.84% $22,572
    Shea Mortgage Inc. 4 6.19% $18,179
    ML Mortgage Corp. 4 6.28% $29,822
    RESIDENTIAL BANCORP 4 6.50% $32,325
    Sierra Pacific Mortgage Company, Inc. 3 6.00% $28,349
    Equity Prime Mortgage LLC 3 6.33% $24,507
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.50% $23,151
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.00% $23,095
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.96% $25,378
    Lakeview Community Capital, LLC 3 6.08% $18,888
    BM Real Estate Services, Inc. 3 7.42% $30,083
    BROKER SOLUTIONS, INC. 3 6.25% $29,414
    CAMPOS FINANCIAL CORP. 3 6.08% $24,940
    Mr. Cooper ( Nationstar Mortgage ) 3 6.63% $24,938
    PENTAGON FEDERAL CREDIT UNION 2 6.25% $18,660
    TOP FLITE FINANCIAL, INC. 2 7.00% $39,573
    LEADERONE FINANCIAL CORPORATION 2 6.69% $22,939
    ALAMEDA MORTGAGE CORPORATION 2 5.93% $26,134
    LOANPAL, LLC 2 5.94% $26,769
    MOUNTAIN WEST FINANCIAL, INC. 2 6.69% $20,401
    BRIDGELOCK CAPITAL 2 6.37% $22,006
    Carrington Mortgage Services, LLC 2 6.25% $39,316
    GUARANTEED RATE AFFINITY, LLC 2 6.25% $25,431
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.06% $27,217
    GUILD MORTGAGE COMPANY 2 6.63% $25,401
    AMERISAVE MORTGAGE CORPORATION 2 5.25% $21,612
    EAGLE HOME MORTGAGE, LLC 2 4.25% $33,969
    Franklin Loan Corporation 2 5.88% $28,645
    AHL FUNDING 2 6.25% $32,220
    Watermark Capital, Inc. 1 5.00% $24,335
    AMERICAN FINANCING CORPORATION 1 7.25% $19,593
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.63% $31,010
    AmeriHome Mortgage Company, LLC 1 5.99% $16,971
    Bank of England 1 6.13% $13,996
    BMO Harris Bank 1 7.00% $15,991
    Citibank 1 5.75% $10,459
    Cornerstone First Mortgage, Inc 1 6.63% $28,219
    CORNERSTONE HOME LENDING, INC. 1 6.25% $30,796
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $31,117
    DEL SUR CORPORATION 1 5.63% $28,753
    ENVOY MORTGAGE, LTD 1 6.13% $27,816
    EVERETT FINANCIAL, INC. 1 6.63% $28,132
    JPMorgan Chase Bank 1 6.63% $18,044
    MASON MCDUFFIE MORTGAGE CORPORATION 1 7.63% $17,648
    MICHIGAN MUTUAL, INC. 1 7.13% $34,401
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 6.63% $15,962
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $29,597
    NexBank 1 6.25% $18,340
    Northpointe Bank 1 6.00% $42,949
    ON Q FINANCIAL, INC. 1 6.63% $17,307
    Performance Financial, Inc. 1 5.25% $35,961
    PLANET HOME LENDING, LLC 1 5.63% $16,700
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.75% $36,334
    ST FIN CORP 1 6.75% $19,366
    THE GOLDEN 1 1 5.63% $13,972
    United Fidelity Funding Corp. 1 6.63% $30,445
    VERITAS FUNDING, LLC 1 5.63% $43,301
    WALL FINANCIAL, INC. 1 6.63% $20,949

    The top Oxnard FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 125 FHA loans originated. Their average total fees are $24,823, which is $3,141 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Oxnard FHA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($21,581), QUICKEN LOANS, LLC ($21,682), AUGUSTA FINANCIAL, INC. ($21,690), OCMBC, INC. ($22,797) and NEWREZ LLC ($23,772).

    The lowest rate Oxnard FHA lenders (with over 10 loans originated) are NEWREZ LLC (5.77%), QUICKEN LOANS, LLC (6.02%), UNITED WHOLESALE MORTGAGE, LLC (6.02%), AUGUSTA FINANCIAL, INC. (6.07%) and DIGNIFIED HOME LOANS, LLC (6.16%).

    Oxnard FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    OXNARD-THOUSAND OAKS-VENTURA, CA VENTURA 2022 $851,000 $1,089,450 $1,316,900 $1,636,550
    OXNARD-THOUSAND OAKS-VENTURA, CA VENTURA 2023 $948,750 $1,214,600 $1,468,150 $1,824,550

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Oxnard (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 $748,350 (5.4%) $1,408,395 (12.3%) 2.77 1,068
    2018-02-01 $738,000 (-2.1%) $1,367,883 (4.6%) 2.68 1,155
    2018-03-01 $729,900 (-4.6%) $1,328,219 (0.5%) 2.56 1,288
    2018-04-01 $750,000 (-2.5%) $1,363,833 (2.9%) 2.54 1,411
    2018-05-01 $741,725 (-2.2%) $1,322,529 (3.2%) 2.48 1,607
    2018-06-01 $739,000 (-1.5%) $1,282,303 (2.7%) 2.46 1,759
    2018-07-01 $739,450 (-2.1%) $1,249,036 (0.2%) 2.47 1,884
    2018-08-01 $717,450 (-4.2%) $1,207,856 (-0.1%) 2.40 1,956
    2018-09-01 $699,000 (-6.8%) $1,165,838 (-3.3%) 2.35 2,012
    2018-10-01 $696,112 (-8.1%) $1,142,578 (-11.2%) 2.36 1,975
    2018-11-01 $684,500 (-8.7%) $1,142,143 (-11.4%) 2.32 1,905
    2018-12-01 $680,000 (-9.3%) $1,170,638 (-12.1%) 2.35 1,666
    2019-01-01 $683,500 (-8.7%) $1,187,763 (-15.7%) 2.36 1,553
    2019-02-01 $682,500 (-7.5%) $1,207,077 (-11.8%) 2.31 1,517
    2019-03-01 $691,386 (-5.3%) $1,190,675 (-10.4%) 2.26 1,586
    2019-04-01 $699,450 (-6.7%) $1,159,312 (-15.0%) 2.22 1,679
    2019-05-01 $701,250 (-5.5%) $1,158,950 (-12.4%) 2.19 1,798
    2019-06-01 $719,900 (-2.6%) $1,179,301 (-8.0%) 2.25 1,849
    2019-07-01 $731,850 (-1.0%) $1,193,959 (-4.4%) 2.29 1,868
    2019-08-01 $737,909 (2.9%) $1,180,203 (-2.3%) 2.34 1,788
    2019-09-01 $749,773 (7.3%) $1,195,174 (2.5%) 2.40 1,658
    2019-10-01 $753,182 (8.2%) $1,205,155 (5.5%) 2.43 1,571
    2019-11-01 $725,000 (5.9%) $1,174,197 (2.8%) 2.38 1,531
    2019-12-01 $757,500 (11.4%) $1,280,148 (9.4%) 2.53 1,219
    2020-01-01 $783,213 (14.6%) $1,316,301 (10.8%) 2.62 1,138
    2020-02-01 $795,000 (16.5%) $1,333,271 (10.5%) 2.60 1,126
    2020-03-01 $812,238 (17.5%) $1,343,619 (12.9%) 2.55 1,143
    2020-04-01 $772,475 (10.4%) $1,243,862 (7.3%) 2.42 1,227
    2020-05-01 $792,500 (13.0%) $1,263,061 (9.0%) 2.41 1,322
    2020-06-01 $811,225 (12.7%) $1,301,721 (10.4%) 2.39 1,206
    2020-07-01 $827,000 (13.0%) $1,347,027 (12.8%) 2.40 1,086
    2020-08-01 $829,000 (12.3%) $1,382,900 (17.2%) 2.38 955
    2020-09-01 $849,000 (13.2%) $1,440,603 (20.5%) 2.43 875
    2020-10-01 $824,500 (9.5%) $1,447,968 (20.2%) 2.36 901
    2020-11-01 $799,000 (10.2%) $1,454,401 (23.9%) 2.34 768
    2020-12-01 $819,450 (8.2%) $1,516,175 (18.4%) 2.44 609
    2021-01-01 $825,450 (5.4%) $1,559,942 (18.5%) 2.46 513
    2021-02-01 $879,450 (10.6%) $1,649,048 (23.7%) 2.56 486
    2021-03-01 $854,450 (5.2%) $1,508,318 (12.3%) 2.42 517
    2021-04-01 $870,000 (12.6%) $1,614,377 (29.8%) 2.35 522
    2021-05-01 $869,000 (9.7%) $1,665,611 (31.9%) 2.31 557
    2021-06-01 $864,500 (6.6%) $1,768,873 (35.9%) 2.28 622
    2021-07-01 $879,900 (6.4%) $1,707,806 (26.8%) 2.32 692
    2021-08-01 $849,000 (2.4%) $1,689,268 (22.2%) 2.26 719
    2021-09-01 $864,375 (1.8%) $1,759,575 (22.1%) 2.31 710
    2021-10-01 $869,000 (5.4%) $1,846,575 (27.5%) 2.32 647
    2021-11-01 $885,225 (10.8%) $1,882,719 (29.5%) 2.37 530
    2021-12-01 $894,500 (9.2%) $1,990,544 (31.3%) 2.42 429
    2022-01-01 $898,900 (8.9%) $2,040,139 (30.8%) 2.43 378
    2022-02-01 $895,950 (1.9%) $2,094,019 (27.0%) 2.33 385
    2022-03-01 $928,536 (8.7%) $2,046,090 (35.7%) 2.32 445
    2022-04-01 $899,900 (3.4%) $1,930,673 (19.6%) 2.15 500
    2022-05-01 $914,825 (5.3%) $1,790,597 (7.5%) 2.09 720
    2022-06-01 $929,210 (7.5%) $1,709,993 (-3.3%) 2.07 866
    2022-07-01 $899,900 (2.3%) $1,538,329 (-9.9%) 2.03 1,106
    2022-08-01 $892,500 (5.1%) $1,469,063 (-13.0%) 2.06 1,147
    2022-09-01 $879,450 (1.7%) $1,463,340 (-16.8%) 2.06 1,077
    2022-10-01 $859,999 (-1.0%) $1,462,341 (-20.8%) 2.02 1,055
    2022-11-01 $875,000 (-1.2%) $1,545,311 (-17.9%) 2.10 1,003
    2022-12-01 $871,000 (-2.6%) $1,617,338 (-18.8%) 2.15 835
    2023-01-01 $873,725 (-2.8%) $1,698,414 (-16.8%) 2.16 708
    2023-02-01 $932,500 (4.1%) $1,812,681 (-13.4%) 2.25 629
    2023-03-01 $944,500 (1.7%) $2,020,304 (-1.3%) 2.23 598
    2023-04-01 $985,000 (9.5%) $2,079,376 (7.7%) 2.29 571
    2023-05-01 $1,076,408 (17.7%) $2,181,585 (21.8%) 2.44 578
    2023-06-01 $1,018,627 (9.6%) $2,160,677 (26.4%) 2.29 618
    2023-07-01 $1,075,000 (19.5%) $2,129,812 (38.5%) 2.44 666
    2023-08-01 $1,021,225 (14.4%) $2,050,014 (39.6%) 2.35 684
    2023-09-01 $1,092,500 (24.2%) $2,078,094 (42.0%) 2.54 688
    2023-10-01 $1,050,000 (22.1%) $1,957,512 (33.9%) 2.47 735
    2023-11-01 $1,037,222 (18.5%) $1,919,229 (24.2%) 2.47 756
    2023-12-01 $1,049,000 (20.4%) $1,950,966 (20.6%) 2.56 666
    2024-01-01 $1,057,000 (21.0%) $1,998,235 (17.7%) 2.58 626
    2024-02-01 $1,095,750 (17.5%) $2,034,108 (12.2%) 2.64 626
    2024-03-01 $1,065,000 (12.8%) $2,145,494 (6.2%) 2.51 679
    2024-04-01 $1,094,250 (11.1%) $2,115,471 (1.7%) 2.55 753
    2024-05-01 $1,194,000 (10.9%) $2,212,800 (1.4%) 2.70 836
    2024-06-01 $1,100,000 (8.0%) $2,043,694 (-5.4%) 2.47 967
    2024-07-01 $1,093,500 (1.7%) $1,911,495 (-10.3%) 2.50 1,019
    2024-08-01 $1,050,000 (2.8%) $1,862,606 (-9.1%) 2.44 1,057
    2024-09-01 $999,350 (-8.5%) $1,781,514 (-14.3%) 2.35 1,059
    2024-10-01 $999,125 (-4.9%) $1,757,200 (-10.2%) 2.35 1,064
    2024-11-01 $999,900 (-3.6%) $1,747,073 (-9.0%) 2.40 982
    Oxnard's median listing price for 2024-11-01 was $999,900, a difference of $-37,322 (-3.6%) versus the prior year and $775 versus the prior month.

    Oxnard's median listing price comes in at 240% of the national average.

    Oxnard's average listing price for 2024-11-01 was $1,747,073, a difference of $-172,156 (-9.0%) versus the prior year and $-10,127 versus the prior month.

    For the 2024-11-01 period, Oxnard had 982 MLS listings, a difference of -82 listings (-8%) versus the prior month and 226 listings (30%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Oxnard (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 62 days 2,064 sqft
    2018-02-01 35 days 2,025 sqft
    2018-03-01 35 days 2,025 sqft
    2018-04-01 37 days 2,053 sqft
    2018-05-01 36 days 2,031 sqft
    2018-06-01 38 days 2,021 sqft
    2018-07-01 41 days 2,031 sqft
    2018-08-01 43 days 2,015 sqft
    2018-09-01 44 days 1,979 sqft
    2018-10-01 48 days 1,962 sqft
    2018-11-01 51 days 1,953 sqft
    2018-12-01 61 days 1,931 sqft
    2019-01-01 67 days 1,895 sqft
    2019-02-01 50 days 1,903 sqft
    2019-03-01 43 days 1,913 sqft
    2019-04-01 40 days 1,943 sqft
    2019-05-01 40 days 2,000 sqft
    2019-06-01 44 days 2,027 sqft
    2019-07-01 45 days 2,047 sqft
    2019-08-01 47 days 2,051 sqft
    2019-09-01 48 days 2,067 sqft
    2019-10-01 50 days 2,068 sqft
    2019-11-01 53 days 1,972 sqft
    2019-12-01 58 days 2,020 sqft
    2020-01-01 63 days 2,099 sqft
    2020-02-01 52 days 2,113 sqft
    2020-03-01 41 days 2,134 sqft
    2020-04-01 48 days 2,062 sqft
    2020-05-01 59 days 2,084 sqft
    2020-06-01 52 days 2,126 sqft
    2020-07-01 45 days 2,144 sqft
    2020-08-01 40 days 2,096 sqft
    2020-09-01 42 days 2,103 sqft
    2020-10-01 39 days 2,074 sqft
    2020-11-01 52 days 2,002 sqft
    2020-12-01 57 days 2,024 sqft
    2021-01-01 54 days 2,021 sqft
    2021-02-01 35 days 2,118 sqft
    2021-03-01 28 days 2,036 sqft
    2021-04-01 34 days 2,050 sqft
    2021-05-01 33 days 2,007 sqft
    2021-06-01 31 days 2,021 sqft
    2021-07-01 35 days 1,978 sqft
    2021-08-01 31 days 1,924 sqft
    2021-09-01 34 days 1,958 sqft
    2021-10-01 36 days 1,960 sqft
    2021-11-01 40 days 1,963 sqft
    2021-12-01 45 days 1,983 sqft
    2022-01-01 40 days 1,952 sqft
    2022-02-01 27 days 1,858 sqft
    2022-03-01 27 days 1,877 sqft
    2022-04-01 25 days 1,894 sqft
    2022-05-01 25 days 1,920 sqft
    2022-06-01 27 days 1,922 sqft
    2022-07-01 33 days 1,900 sqft
    2022-08-01 37 days 1,845 sqft
    2022-09-01 46 days 1,840 sqft
    2022-10-01 51 days 1,854 sqft
    2022-11-01 53 days 1,839 sqft
    2022-12-01 63 days 1,842 sqft
    2023-01-01 67 days 1,858 sqft
    2023-02-01 43 days 1,892 sqft
    2023-03-01 42 days 1,880 sqft
    2023-04-01 43 days 1,991 sqft
    2023-05-01 39 days 2,025 sqft
    2023-06-01 38 days 1,933 sqft
    2023-07-01 38 days 1,962 sqft
    2023-08-01 42 days 1,957 sqft
    2023-09-01 42 days 1,988 sqft
    2023-10-01 41 days 1,956 sqft
    2023-11-01 44 days 1,940 sqft
    2023-12-01 56 days 1,950 sqft
    2024-01-01 60 days 1,946 sqft
    2024-02-01 41 days 1,936 sqft
    2024-03-01 37 days 1,936 sqft
    2024-04-01 36 days 1,961 sqft
    2024-05-01 33 days 2,017 sqft
    2024-06-01 36 days 1,940 sqft
    2024-07-01 41 days 1,943 sqft
    2024-08-01 44 days 1,937 sqft
    2024-09-01 46 days 1,904 sqft
    2024-10-01 47 days 1,887 sqft
    2024-11-01 53 days 1,897 sqft
    Oxnard's median listing age (time on market) for 2024-11-01 was 53 days. This is 20% longer than the same period one year ago.

    Oxnard's median square footage for active listings during the 2024-11-01 period was 1,897 sqft. One year prior, the average listing was 1,940 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).