Panama City FHA Loan Rates, Closing Costs & Stats

PANAMA CITY, 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.

    Panama City's 104 lenders originated 748 FHA loans during 2023. The total origination value was $191,530,000, with an average FHA loan value of $256,056.

    Panama City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Panama City averaged 6.36% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Panama City's average FHA mortgage closing costs are $8,223.

    The average rate for the prior week (2024-12-06) was 6.13% and one month ago for the week of 2024-11-08, the average rate was 6.49%.

    The average rate one year ago was 6.81%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.81%.

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

    Panama City 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 Panama City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 110 5.55% $8,788
    UNITED WHOLESALE MORTGAGE, LLC 66 6.45% $12,284
    QUICKEN LOANS, LLC 59 6.28% $12,227
    CARDINAL FINANCIAL 44 6.86% $11,154
    Trustmark National Bank 30 6.49% $9,611
    BROKER SOLUTIONS, INC. 26 6.15% $11,553
    Centennial Bank 20 6.66% $9,335
    GUARANTEED RATE, INC. 18 6.51% $11,754
    Regions Bank 18 5.80% $10,809
    CROSSCOUNTRY MORTGAGE, LLC 16 6.55% $13,307
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 6.40% $11,435
    LOANDEPOT.COM, LLC 13 6.37% $11,078
    POINT Mortgage 12 6.83% $12,804
    PRIMELENDING, A PLAINSCAPITAL COMPANY 11 6.34% $10,811
    Equity Prime Mortgage LLC 11 6.68% $10,327
    Tyndall Federal Credit Union 11 6.56% $9,140
    NEWREZ LLC 10 6.69% $13,614
    LAND HOME FINANCIAL SERVICES, INC. 10 6.38% $11,256
    FREEDOM MORTGAGE CORPORATION 8 6.70% $13,994
    MUTUAL OF OMAHA MORTGAGE, INC. 7 6.98% $9,754
    First Federal Bank 7 6.59% $6,572
    PLAZA HOME MORTGAGE, INC. 6 6.58% $8,605
    PENNYMAC LOAN SERVICES, LLC 5 6.12% $13,207
    Truist 5 6.05% $10,066
    Carrington Mortgage Services, LLC 5 5.98% $14,789
    Bank of England 5 6.65% $13,933
    AMERICAN FINANCIAL NETWORK, INC. 5 7.08% $13,331
    THE MORTGAGE FIRM, INC. 5 7.18% $13,144
    OPEN MORTGAGE, LLC 5 6.10% $11,260
    United Fidelity Funding Corp. 5 6.58% $10,758
    Northpointe Bank 4 6.78% $10,040
    EMM LOANS LLC 4 6.38% $13,602
    Ameris Bank 4 6.28% $11,195
    FBC MORTGAGE, LLC 4 7.16% $10,902
    MICHIGAN MUTUAL, INC. 4 6.03% $14,334
    MORTGAGE INVESTORS GROUP, INC. 4 6.72% $12,167
    Mr. Cooper ( Nationstar Mortgage ) 4 5.75% $13,971
    Mortgage Research Center, LLC 3 6.96% $10,003
    MOVEMENT MORTGAGE, LLC 3 5.92% $10,132
    Prosperity Home Mortgage, LLC 3 6.08% $15,973
    Paramount Residential Mortgage Group, Inc. 3 6.79% $13,465
    SUCCESS MORTGAGE PARTNERS, INC. 3 7.50% $14,792
    Wells Fargo Bank 3 6.42% $9,848
    United Community Bank 3 6.08% $12,402
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.83% $10,344
    Plains Commerce Bank 3 6.96% $8,285
    PLANET HOME LENDING, LLC 2 6.00% $12,934
    NOVA FINANCIAL & INVESTMENT CORPORATION 2 6.00% $5,820
    NFM, INC. 2 6.13% $10,291
    DAS Acquisition Company, LLC 2 7.75% $11,808
    Nations Lending Corporation 2 6.50% $10,176
    Capital City Home Loans, LLC 2 6.88% $13,486
    SWBC MORTGAGE CORPORATION 2 6.69% $5,659
    GARDNER FINANCIAL SERVICES, LTD. 2 7.38% $11,094
    SUN WEST MORTGAGE COMPANY, INC. 2 6.31% $12,985
    Fifth Third Bank 2 6.00% $9,902
    INSPIRE HOME LOANS INC. 2 5.25% $8,645
    BancorpSouth 2 5.94% $9,814
    Sierra Pacific Mortgage Company, Inc. 2 5.50% $18,929
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 6.44% $13,596
    CMG MORTGAGE, INC. 2 7.19% $11,988
    NATIONWIDE MORTGAGE BANKERS, INC. 2 6.81% $15,760
    ZILLOW HOME LOANS, LLC 1 5.50% $16,864
    ACADEMY MORTGAGE CORPORATION 1 7.25% $9,284
    AHL FUNDING 1 7.00% $13,441
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $7,614
    AMERICAN FINANCING CORPORATION 1 5.63% $10,350
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $19,253
    ASPIRE FINANCIAL, INC. 1 5.75% $8,013
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $9,404
    BankPlus 1 6.63% $4,670
    CALCON MUTUAL MORTGAGE LLC 1 7.00% $15,859
    Century Mortgage Company DBA Century Lending Company 1 7.25% $11,798
    Community Bank of Mississippi 1 7.13% $10,927
    COUNTRYPLACE MORTGAGE, LTD. 1 6.50% $22,508
    ENDEAVOR CAPITAL, LLC. 1 5.75% $6,518
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.99% $16,038
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $9,481
    GUILD MORTGAGE COMPANY 1 6.63% $11,428
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.25% $9,297
    HOMESIDE FINANCIAL, LLC 1 7.63% $16,486
    Lakeview Community Capital, LLC 1 5.63% $11,157
    LOANLEADERS OF AMERICA, INC. 1 6.25% $14,217
    Loan Simple, Inc. 1 5.50% $16,735
    MID AMERICA MORTGAGE, INC. 1 7.38% $5,063
    MORTGAGE ONE OF THE SOUTH, INC. 1 6.00% $7,524
    NATIONS DIRECT MORTGAGE, LLC 1 6.75% $16,101
    ON Q FINANCIAL, INC. 1 7.75% $16,995
    POLARIS HOME FUNDING CORP. 1 6.63% $12,682
    RELIANCE FIRST CAPITAL, LLC 1 7.00% $6,181
    RESIDENTIAL BANCORP 1 7.50% $16,929
    RESIDENTIAL HOME MORTGAGE CORPORATION 1 6.13% $12,019
    ROYAL UNITED MORTGAGE LLC 1 6.88% $10,772
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.63% $8,718
    SmartBank 1 6.25% $9,673
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.00% $9,931
    STOCKTON MORTGAGE CORPORATION 1 5.63% $13,643
    SUMMIT FUNDING, INC. 1 6.25% $19,041
    Towne Bank 1 6.63% $11,448
    TOWNE MORTGAGE COMPANY 1 6.75% $15,235
    UNIVERSAL MORTGAGE & FINANCE, INC. 1 6.63% $23,525
    University Bank 1 6.25% $10,132
    Waterstone Mortgage Corporation 1 6.13% $11,304
    1ST SIGNATURE LENDING, LLC 1 6.50% $15,694

    The top Panama City FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 110 FHA loans originated. Their average total fees are $8,788, which is $3,497 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Panama City FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($8,788), Tyndall Federal Credit Union ($9,140), Centennial Bank ($9,335), Trustmark National Bank ($9,611) and Equity Prime Mortgage LLC ($10,327).

    The lowest rate Panama City FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.55%), Regions Bank (5.80%), BROKER SOLUTIONS, INC. (6.15%), QUICKEN LOANS, LLC (6.28%) and PRIMELENDING, A PLAINSCAPITAL COMPANY (6.34%).

    Panama City FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    PANAMA CITY, FL BAY 2022 $420,680 $538,650 $651,050 $809,150
    PANAMA CITY, FL BAY 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Panama City (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 $269,500 (4.1%) $347,027 (6.4%) 1.00 1,619
    2018-02-01 $270,000 (5.2%) $346,524 (5.9%) 0.98 1,648
    2018-03-01 $275,000 (5.8%) $351,065 (4.9%) 0.96 1,679
    2018-04-01 $284,950 (5.6%) $353,949 (2.7%) 0.97 1,740
    2018-05-01 $280,000 (2.4%) $357,514 (2.2%) 0.94 1,772
    2018-06-01 $289,900 (5.4%) $368,241 (4.2%) 0.97 1,673
    2018-07-01 $289,000 (5.1%) $374,542 (5.2%) 0.97 1,675
    2018-08-01 $285,675 (4.4%) $375,124 (3.8%) 0.96 1,707
    2018-09-01 $285,000 (4.0%) $368,025 (3.0%) 0.96 1,767
    2018-10-01 $285,000 (5.6%) $371,545 (5.1%) 0.97 1,683
    2018-11-01 $295,450 (7.5%) $384,845 (9.6%) 1.00 1,455
    2018-12-01 $307,000 (12.0%) $390,661 (9.0%) 1.06 1,496
    2019-01-01 $309,250 (14.8%) $391,198 (12.7%) 1.07 1,452
    2019-02-01 $312,350 (15.7%) $398,621 (15.0%) 1.06 1,530
    2019-03-01 $320,514 (16.6%) $405,163 (15.4%) 1.05 1,528
    2019-04-01 $327,064 (14.8%) $412,571 (16.6%) 1.04 1,511
    2019-05-01 $319,950 (14.3%) $413,684 (15.7%) 1.00 1,584
    2019-06-01 $319,900 (10.4%) $402,662 (9.4%) 1.00 1,572
    2019-07-01 $322,450 (11.6%) $405,862 (8.4%) 1.01 1,590
    2019-08-01 $317,970 (11.3%) $398,138 (6.1%) 1.01 1,671
    2019-09-01 $307,426 (7.9%) $386,830 (5.1%) 0.98 1,770
    2019-10-01 $299,550 (5.1%) $378,823 (2.0%) 0.97 1,835
    2019-11-01 $299,000 (1.2%) $375,545 (-2.4%) 0.98 1,848
    2019-12-01 $295,000 (-3.9%) $367,317 (-6.0%) 0.98 1,914
    2020-01-01 $293,631 (-5.1%) $373,579 (-4.5%) 0.98 1,852
    2020-02-01 $289,000 (-7.5%) $370,127 (-7.2%) 0.95 1,878
    2020-03-01 $295,668 (-7.8%) $378,018 (-6.7%) 0.93 1,981
    2020-04-01 $295,000 (-9.8%) $376,533 (-8.7%) 0.92 2,187
    2020-05-01 $299,000 (-6.6%) $379,824 (-8.2%) 0.91 2,125
    2020-06-01 $309,963 (-3.1%) $385,941 (-4.2%) 0.91 1,883
    2020-07-01 $310,963 (-3.6%) $388,274 (-4.3%) 0.90 1,708
    2020-08-01 $312,025 (-1.9%) $391,937 (-1.6%) 0.89 1,593
    2020-09-01 $309,438 (0.7%) $398,944 (3.1%) 0.89 1,414
    2020-10-01 $310,500 (3.7%) $404,115 (6.7%) 0.89 1,339
    2020-11-01 $309,500 (3.5%) $416,889 (11.0%) 0.91 1,316
    2020-12-01 $296,344 (0.5%) $410,702 (11.8%) 0.88 1,407
    2021-01-01 $289,998 (-1.2%) $396,567 (6.2%) 0.87 1,407
    2021-02-01 $290,531 (0.5%) $413,220 (11.6%) 0.85 994
    2021-03-01 $297,919 (0.8%) $440,105 (16.4%) 0.85 803
    2021-04-01 $315,923 (7.1%) $484,398 (28.7%) 0.86 670
    2021-05-01 $337,724 (13.0%) $512,575 (35.0%) 0.90 632
    2021-06-01 $359,900 (16.1%) $537,509 (39.3%) 0.95 641
    2021-07-01 $384,000 (23.5%) $533,949 (37.5%) 1.01 827
    2021-08-01 $399,950 (28.2%) $551,069 (40.6%) 1.07 985
    2021-09-01 $404,750 (30.8%) $556,127 (39.4%) 1.08 1,034
    2021-10-01 $406,247 (30.8%) $557,206 (37.9%) 1.08 1,012
    2021-11-01 $389,950 (26.0%) $557,849 (33.8%) 1.04 904
    2021-12-01 $370,750 (25.1%) $556,633 (35.5%) 1.00 824
    2022-01-01 $376,700 (29.9%) $588,365 (48.4%) 1.02 692
    2022-02-01 $419,950 (44.6%) $627,367 (51.8%) 1.09 567
    2022-03-01 $434,325 (45.8%) $686,081 (55.9%) 1.09 602
    2022-04-01 $475,000 (50.4%) $717,041 (48.0%) 1.13 765
    2022-05-01 $489,500 (44.9%) $747,289 (45.8%) 1.12 954
    2022-06-01 $499,700 (38.8%) $731,071 (36.0%) 1.11 1,180
    2022-07-01 $495,000 (28.9%) $686,244 (28.5%) 1.12 1,468
    2022-08-01 $484,925 (21.3%) $662,483 (20.2%) 1.12 1,612
    2022-09-01 $457,075 (12.9%) $630,773 (13.4%) 1.07 1,665
    2022-10-01 $449,000 (10.5%) $610,451 (9.6%) 1.06 1,732
    2022-11-01 $439,900 (12.8%) $593,532 (6.4%) 1.06 1,770
    2022-12-01 $439,700 (18.6%) $595,897 (7.1%) 1.09 1,688
    2023-01-01 $442,400 (17.4%) $599,035 (1.8%) 1.10 1,569
    2023-02-01 $439,950 (4.8%) $594,983 (-5.2%) 1.06 1,488
    2023-03-01 $439,000 (1.1%) $603,560 (-12.0%) 1.04 1,484
    2023-04-01 $459,000 (-3.4%) $635,978 (-11.3%) 1.07 1,488
    2023-05-01 $452,200 (-7.6%) $633,731 (-15.2%) 1.03 1,631
    2023-06-01 $459,565 (-8.0%) $645,800 (-11.7%) 1.03 1,666
    2023-07-01 $464,450 (-6.2%) $654,536 (-4.6%) 1.06 1,687
    2023-08-01 $454,900 (-6.2%) $643,127 (-2.9%) 1.04 1,805
    2023-09-01 $459,000 (0.4%) $640,843 (1.6%) 1.07 1,863
    2023-10-01 $457,000 (1.8%) $640,087 (4.9%) 1.08 1,972
    2023-11-01 $449,988 (2.3%) $624,714 (5.3%) 1.07 2,118
    2023-12-01 $449,900 (2.3%) $617,508 (3.6%) 1.10 2,149
    2024-01-01 $447,375 (1.1%) $608,943 (1.7%) 1.09 2,127
    2024-02-01 $440,350 (0.1%) $609,520 (2.4%) 1.06 2,216
    2024-03-01 $449,000 (2.3%) $610,974 (1.2%) 1.06 2,362
    2024-04-01 $449,948 (-2.0%) $616,735 (-3.0%) 1.05 2,480
    2024-05-01 $450,000 (-0.5%) $621,027 (-2.0%) 1.02 2,584
    2024-06-01 $450,000 (-2.1%) $621,889 (-3.7%) 1.01 2,640
    2024-07-01 $449,000 (-3.3%) $624,111 (-4.7%) 1.03 2,649
    2024-08-01 $446,500 (-1.9%) $616,102 (-4.2%) 1.04 2,688
    2024-09-01 $437,774 (-4.6%) $604,299 (-5.7%) 1.03 2,700
    2024-10-01 $436,500 (-4.5%) $600,589 (-6.2%) 1.03 2,686
    2024-11-01 $429,000 (-4.7%) $592,181 (-5.2%) 1.03 2,614
    Panama City's median listing price for 2024-11-01 was $429,000, a difference of $-20,988 (-4.7%) versus the prior year and $-7,500 versus the prior month.

    Panama City's median listing price comes in at 103% of the national average.

    Panama City's average listing price for 2024-11-01 was $592,181, a difference of $-32,533 (-5.2%) versus the prior year and $-8,408 versus the prior month.

    For the 2024-11-01 period, Panama City had 2,614 MLS listings, a difference of -72 listings (-3%) versus the prior month and 496 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Panama City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 91 days 1,601 sqft
    2018-02-01 77 days 1,613 sqft
    2018-03-01 59 days 1,620 sqft
    2018-04-01 59 days 1,629 sqft
    2018-05-01 58 days 1,629 sqft
    2018-06-01 70 days 1,655 sqft
    2018-07-01 71 days 1,677 sqft
    2018-08-01 71 days 1,648 sqft
    2018-09-01 71 days 1,632 sqft
    2018-10-01 85 days 1,621 sqft
    2018-11-01 100 days 1,604 sqft
    2018-12-01 101 days 1,542 sqft
    2019-01-01 89 days 1,542 sqft
    2019-02-01 75 days 1,516 sqft
    2019-03-01 74 days 1,514 sqft
    2019-04-01 66 days 1,506 sqft
    2019-05-01 59 days 1,517 sqft
    2019-06-01 57 days 1,542 sqft
    2019-07-01 60 days 1,561 sqft
    2019-08-01 61 days 1,547 sqft
    2019-09-01 61 days 1,527 sqft
    2019-10-01 63 days 1,518 sqft
    2019-11-01 70 days 1,535 sqft
    2019-12-01 77 days 1,538 sqft
    2020-01-01 79 days 1,542 sqft
    2020-02-01 70 days 1,532 sqft
    2020-03-01 65 days 1,542 sqft
    2020-04-01 67 days 1,542 sqft
    2020-05-01 75 days 1,525 sqft
    2020-06-01 85 days 1,542 sqft
    2020-07-01 73 days 1,552 sqft
    2020-08-01 63 days 1,559 sqft
    2020-09-01 61 days 1,542 sqft
    2020-10-01 56 days 1,558 sqft
    2020-11-01 47 days 1,599 sqft
    2020-12-01 51 days 1,624 sqft
    2021-01-01 60 days 1,600 sqft
    2021-02-01 61 days 1,573 sqft
    2021-03-01 43 days 1,605 sqft
    2021-04-01 40 days 1,636 sqft
    2021-05-01 27 days 1,670 sqft
    2021-06-01 31 days 1,582 sqft
    2021-07-01 29 days 1,530 sqft
    2021-08-01 34 days 1,532 sqft
    2021-09-01 41 days 1,549 sqft
    2021-10-01 52 days 1,593 sqft
    2021-11-01 50 days 1,638 sqft
    2021-12-01 51 days 1,648 sqft
    2022-01-01 53 days 1,697 sqft
    2022-02-01 32 days 1,690 sqft
    2022-03-01 31 days 1,699 sqft
    2022-04-01 32 days 1,594 sqft
    2022-05-01 37 days 1,572 sqft
    2022-06-01 41 days 1,573 sqft
    2022-07-01 45 days 1,557 sqft
    2022-08-01 54 days 1,556 sqft
    2022-09-01 61 days 1,561 sqft
    2022-10-01 64 days 1,560 sqft
    2022-11-01 73 days 1,564 sqft
    2022-12-01 82 days 1,565 sqft
    2023-01-01 87 days 1,587 sqft
    2023-02-01 83 days 1,549 sqft
    2023-03-01 68 days 1,530 sqft
    2023-04-01 61 days 1,477 sqft
    2023-05-01 57 days 1,482 sqft
    2023-06-01 60 days 1,493 sqft
    2023-07-01 66 days 1,466 sqft
    2023-08-01 68 days 1,454 sqft
    2023-09-01 65 days 1,457 sqft
    2023-10-01 67 days 1,450 sqft
    2023-11-01 71 days 1,441 sqft
    2023-12-01 79 days 1,417 sqft
    2024-01-01 87 days 1,404 sqft
    2024-02-01 89 days 1,403 sqft
    2024-03-01 75 days 1,404 sqft
    2024-04-01 74 days 1,400 sqft
    2024-05-01 73 days 1,403 sqft
    2024-06-01 82 days 1,405 sqft
    2024-07-01 87 days 1,426 sqft
    2024-08-01 92 days 1,427 sqft
    2024-09-01 94 days 1,429 sqft
    2024-10-01 96 days 1,430 sqft
    2024-11-01 99 days 1,411 sqft
    Panama City's median listing age (time on market) for 2024-11-01 was 99 days. This is 39% longer than the same period one year ago.

    Panama City's median square footage for active listings during the 2024-11-01 period was 1,411 sqft. One year prior, the average listing was 1,441 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).