Pittsburgh FHA Loans

PITTSBURGH, PA

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.

Pittsburgh's 169 lenders originated 7,531 FHA loans during 2021. The total origination value was $1,217,785,000, with an average FHA loan value of $161,703.

Pittsburgh FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Pittsburgh averaged 5.18% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

The average rate for the prior week (2022-05-13) was 5.28% and one month ago for the week of 2022-04-15, the average rate was 4.87%.

The average rate one year ago was 3.04%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.01%.

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

Pittsburgh 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 Pittsburgh level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 1,019 2.81% $6,067
Victorian Finance, LLC 329 2.93% $7,174
Citizens Bank 316 2.74% $6,846
UNITED WHOLESALE MORTGAGE, LLC 234 2.77% $7,808
HOWARD HANNA FINANCIAL SERVICES, INC. 234 2.76% $6,826
FREEDOM MORTGAGE CORPORATION 216 2.96% $5,283
WEST PENN FINANCIAL SERVICE CENTER, INC. 196 2.75% $6,630
UNION HOME MORTGAGE CORP. 188 2.99% $8,153
MOVEMENT MORTGAGE, LLC 185 3.19% $7,053
JLB CORPORATION 175 2.84% $7,640
GUARANTEED RATE AFFINITY, LLC 172 2.92% $7,396
PENNYMAC LOAN SERVICES, LLC 166 2.95% $4,953
EQUITY RESOURCES, INC. 155 3.16% $7,130
PLAZA HOME MORTGAGE, INC. 154 2.99% $8,228
Mr. Cooper ( Nationstar Mortgage ) 146 3.35% $4,379
LOANDEPOT.COM, LLC 110 3.14% $7,645
CROSSCOUNTRY MORTGAGE, LLC 101 3.14% $8,748
EMM LOANS LLC 96 2.95% $7,333
The Huntington National Bank 94 2.99% $6,367
LAKEVIEW LOAN SERVICING, LLC 90 3.16% $5,342
NEWREZ LLC 90 2.90% $5,862
AFFORDABLE MORTGAGE ADVISORS, LLC. 88 2.79% $7,232
Union Savings Bank 78 2.70% $6,663
CALIBER HOME LOANS, INC. 78 2.91% $5,357
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 74 3.00% $8,007
GUARANTEED RATE, INC. 72 2.91% $7,597
VILLAGE CAPITAL & INVESTMENT LLC 67 2.97% $2,205
Carrington Mortgage Services, LLC 65 3.55% $7,819
Flagstar Bank, FSB 62 2.79% $5,382
Dollar Bank, Federal Savings Bank 59 2.91% $6,290
PNC Bank 56 2.92% $5,892
RELIANCE FIRST CAPITAL, LLC 50 3.00% $7,836
First Commonwealth Bank 45 2.66% $6,494
Princeton Mortgage Corporation 43 3.28% $8,431
HOME POINT FINANCIAL CORPORATION 43 2.88% $7,897
NVR Mortgage Finance, Inc. 40 3.01% $11,402
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 39 3.22% $7,502
TOWNE MORTGAGE COMPANY 37 2.91% $7,036
BROKER SOLUTIONS, INC. 36 3.21% $7,331
FINANCE OF AMERICA MORTGAGE LLC 35 2.99% $6,851
First Guaranty Mortgage Corporation 33 3.02% $6,563
PLANET HOME LENDING, LLC 31 2.97% $5,203
Paramount Residential Mortgage Group, Inc. 30 3.19% $7,516
AmeriHome Mortgage Company, LLC 28 3.01% $4,779
WesBanco Bank, Inc. 28 2.77% $6,592
DEVELOPER'S MORTGAGE COMPANY 27 3.07% $5,687
FBC MORTGAGE, LLC 27 2.97% $11,070
Equity Prime Mortgage LLC 27 3.40% $7,476
RESIDENTIAL MORTGAGE SERVICES, INC. 26 2.79% $7,441
MUTUAL OF OMAHA MORTGAGE, INC. 25 3.14% $7,237
ALLIED MORTGAGE GROUP, INC. 25 3.18% $9,104
Sail Mortgage Corp. 24 2.56% $7,276
AMERISAVE MORTGAGE CORPORATION 22 3.03% $8,646
Patriot Lending Services, Inc. 22 3.07% $7,260
U.S. Bank 21 2.64% $6,935
Nations Lending Corporation 20 3.13% $8,247
PRIMELENDING, A PLAINSCAPITAL COMPANY 18 3.45% $9,957
WELCOME HOME FINANCE, L.P. 18 2.78% $3,418
Northwest Bank 15 2.89% $6,905
Gateway First Bank 15 3.53% $5,985
AMERICAN FINANCIAL NETWORK, INC. 15 3.11% $12,711
First National Bank of Pennsylvania 13 2.82% $6,822
EVANSVILLE TEACHERS 13 3.03% $6,701
HOMEBRIDGE FINANCIAL SERVICES, INC. 13 2.78% $8,158
Waterstone Mortgage Corporation 12 3.45% $8,251
STEARNS LENDING, LLC 12 3.07% $7,066
InterContinental Capital Group, Inc 12 3.06% $7,703
NATIONS DIRECT MORTGAGE, LLC 12 2.97% $8,798
KeyBank 11 2.91% $7,271
Bank of England 11 3.11% $7,456
NATIONWIDE MORTGAGE BANKERS, INC. 11 3.10% $8,114
ASSOCIATED MORTGAGE BANKERS, INC. 11 3.18% $5,827
OCEANSIDE MORTGAGE COMPANY 11 2.94% $2,535
MICHIGAN MUTUAL, INC. 10 2.88% $7,301
Mortgage Research Center, LLC 9 3.15% $5,219
Barrington Bank & Trust Company, N.A. 9 3.39% $6,666
GUILD MORTGAGE COMPANY 9 3.01% $6,512
Colonial Savings, F.A. 9 2.93% $6,671
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 3.75% $8,275
HOMESIDE FINANCIAL, LLC 8 2.84% $8,931
SOUTHPOINT FINANCIAL SERVICES, INC. 8 3.23% $5,382
BETTER MORTGAGE CORPORATION 7 3.04% $6,166
ROYAL UNITED MORTGAGE LLC 7 3.07% $7,379
NORWICH COMMERCIAL GROUP, INC. 7 4.43% $7,661
Manufacturers and Traders Trust Company 7 2.98% $6,236
CONTOUR MORTGAGE CORPORATION 7 3.14% $9,183
Bank of America 6 3.06% $5,427
Lakeview Community Capital, LLC 6 3.21% $4,773
SUN WEST MORTGAGE COMPANY, INC. 6 3.43% $10,987
GSF Mortgage Corporation 6 2.98% $6,202
OCMBC, INC. 6 3.44% $8,479
EMBRACE HOME LOANS, INC. 6 3.27% $8,424
AMERICAN FINANCING CORPORATION 5 3.33% $8,077
First Federal Bank of the Midwest 5 3.33% $8,587
LIBERTY HOME MORTGAGE CORPORATION 5 3.15% $11,522
TOP FLITE FINANCIAL, INC. 5 3.20% $11,756
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 3.22% $6,722
SECURITYNATIONAL MORTGAGE COMPANY 4 3.91% $7,263
PHH Mortgage Corporation 4 3.78% $5,019
Northpointe Bank 4 2.69% $6,578
T2 FINANCIAL LLC 4 2.84% $9,521
CHURCHILL MORTGAGE CORPORATION 4 3.13% $7,757
The Federal Savings Bank 3 2.75% $7,392
First Federal Bank 3 3.04% $6,792
LOANPAL, LLC 3 3.17% $9,838
SOUTHWEST STAGE FUNDING, LLC 3 2.96% $4,468
Wells Fargo Bank 3 3.13% $7,748
Century Mortgage Company DBA Century Lending Company 3 3.13% $8,122
NP, Inc. 3 2.63% $11,418
Peoples Bank 3 3.42% $7,702
Prosperity Home Mortgage, LLC 3 3.29% $6,269
NBKC BANK 2 2.88% $6,454
NATION ONE MORTGAGE CORPORATION 2 2.88% $7,726
UNITED SECURITY FINANCIAL CORP 2 2.69% $5,118
Wyndham Capital Mortgage, Inc. 2 2.94% $5,041
MILEND, INC. 2 2.44% $8,528
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.94% $6,076
MID AMERICA MORTGAGE, INC. 2 3.12% $1,391
EVERETT FINANCIAL, INC. 2 3.13% $8,022
AMERICAN FINANCIAL RESOURCES, INC. 2 2.69% $6,104
Keystone Funding, Inc. 2 3.06% $5,840
BAYSHORE MORTGAGE FUNDING, LLC 2 3.25% $8,810
POLARIS HOME FUNDING CORP. 2 3.44% $7,712
First Home Bank 2 2.56% $11,003
FIRST HOME MORTGAGE CORPORATION 2 3.00% $7,210
SOVEREIGN LENDING GROUP INCORPORATED 2 2.81% $11,618
SUCCESS MORTGAGE PARTNERS, INC. 2 3.38% $7,287
NFM, INC. 2 3.13% $6,859
North American Savings Bank, F.S.B. 1 3.50% $3,128
AMERIFIRST FINANCIAL CORPORATION 1 4.75% $8,944
Ameris Bank 1 3.00% $5,717
Austin Capital Bank SSB 1 4.75% $11,300
AXIA FINANCIAL, LLC 1 2.88% $7,272
Bank of Idaho 1 2.63% $8,820
BECKAM FUNDING CORP. 1 2.50% $7,925
Blue Ridge Bank 1 2.38% $8,038
BNC National Bank 1 2.75% $7,420
COUNTRYPLACE MORTGAGE, LTD. 1 3.25% $7,966
Credence Funding Corporation 1 2.25% $7,977
DAS Acquisition Company, LLC 1 3.25% $5,574
Fifth Third Bank 1 2.75% $4,815
FirstBank 1 2.75% $6,364
First Midwest Bank 1 3.13% $5,971
Hometown Equity Mortgage, LLC 1 2.88% $9,572
Hometown Lenders, Inc. 1 3.63% $13,367
INTELLILOAN, INC. 1 3.88% $12,306
JAMES B. NUTTER & COMPANY 1 2.88% $4,082
JPMorgan Chase Bank 1 3.25% $2,364
MCLEAN MORTGAGE CORPORATION 1 2.88% $10,321
MEMBER FIRST MORTGAGE, LLC 1 3.50% $6,582
Meridian Bank Corporation 1 2.75% $5,158
Mid Penn Bank 1 3.13% $6,133
MORIA DEVELOPMENT, INC. 1 3.75% $6,929
MORTGAGE ACCESS CORP. 1 2.75% $7,796
NJ LENDERS CORP. 1 2.88% $6,335
1ST SIGNATURE LENDING, LLC 1 3.00% $10,112
PLUS RELOCATION MORTGAGE, LLC 1 3.25% $7,519
RADIUS FINANCIAL GROUP INC. 1 2.25% $4,834
RAPID MORTGAGE COMPANY 1 3.00% $5,721
Residential Mortgage Solutions, Inc. 1 2.63% $10,609
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.25% $7,869
SIRVA MORTGAGE, INC. 1 3.50% $8,262
Stifel Bank and Trust 1 2.50% $6,883
Strong Home Mortgage, LLC 1 3.00% $4,690
Summit Mortgage Corporation 1 4.50% $5,661
TIDEWATER MORTGAGE SERVICES, INC. 1 3.75% $7,531
TOTAL MORTGAGE SERVICES, LLC 1 4.75% $10,409
UNITED MORTGAGE CORP. 1 3.13% $9,021
ZILLOW HOME LOANS, LLC 1 3.13% $5,439

The top Pittsburgh FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,019 FHA loans originated. Their average total fees are $6,067, which is $1,108 lower than the next largest lender, Victorian Finance, LLC.

The lowest fee Pittsburgh FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,205), OCEANSIDE MORTGAGE COMPANY ($2,535), WELCOME HOME FINANCE, L.P. ($3,418), Mr. Cooper ( Nationstar Mortgage ) ($4,379) and AmeriHome Mortgage Company, LLC ($4,779).

The lowest rate Pittsburgh FHA lenders (with over 10 loans originated) are Sail Mortgage Corp. (2.56%), U.S. Bank (2.64%), First Commonwealth Bank (2.66%), Union Savings Bank (2.70%) and Citizens Bank (2.74%).

Pittsburgh FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
PITTSBURGH, PA ALLEGHENY 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA ARMSTRONG 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA BEAVER 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA BUTLER 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA FAYETTE 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA WESTMORELAND 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Pittsburgh (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 $170,000 (9.7%) $261,913 (6.9%) 0.63 7,787
2018-02-01 $172,500 (8.9%) $267,949 (6.8%) 0.62 7,298
2018-03-01 $179,900 (9.1%) $281,372 (7.7%) 0.62 7,052
2018-04-01 $187,750 (10.5%) $287,343 (7.7%) 0.63 7,111
2018-05-01 $189,900 (8.6%) $290,644 (7.2%) 0.63 7,350
2018-06-01 $189,000 (5.1%) $285,803 (5.5%) 0.63 7,687
2018-07-01 $187,700 (4.3%) $283,957 (4.6%) 0.63 7,952
2018-08-01 $185,950 (3.4%) $280,188 (4.1%) 0.62 8,144
2018-09-01 $184,900 (2.8%) $277,416 (3.9%) 0.62 8,252
2018-10-01 $179,950 (2.3%) $275,090 (4.2%) 0.60 8,389
2018-11-01 $177,000 (-1.1%) $273,059 (2.8%) 0.59 8,136
2018-12-01 $173,900 (-0.6%) $274,286 (4.7%) 0.60 7,565
2019-01-01 $171,250 (0.7%) $274,817 (4.9%) 0.59 7,180
2019-02-01 $175,400 (1.7%) $280,871 (4.8%) 0.59 6,748
2019-03-01 $184,186 (2.4%) $292,170 (3.8%) 0.60 6,530
2019-04-01 $189,900 (1.2%) $299,130 (4.1%) 0.60 6,479
2019-05-01 $197,450 (4.0%) $302,885 (4.2%) 0.61 6,674
2019-06-01 $199,900 (5.8%) $304,387 (6.5%) 0.62 7,070
2019-07-01 $199,900 (6.5%) $302,033 (6.4%) 0.62 7,369
2019-08-01 $199,900 (7.5%) $300,057 (7.1%) 0.63 7,288
2019-09-01 $199,900 (8.1%) $297,732 (7.3%) 0.63 7,212
2019-10-01 $197,750 (9.9%) $295,298 (7.4%) 0.63 7,360
2019-11-01 $194,900 (10.1%) $297,273 (8.9%) 0.63 6,999
2019-12-01 $189,700 (9.1%) $294,069 (7.2%) 0.63 6,458
2020-01-01 $189,900 (10.9%) $300,862 (9.5%) 0.63 6,021
2020-02-01 $200,000 (14.0%) $316,877 (12.8%) 0.65 5,784
2020-03-01 $214,950 (16.7%) $326,634 (11.8%) 0.67 5,521
2020-04-01 $217,000 (14.3%) $324,067 (8.3%) 0.68 5,413
2020-05-01 $225,000 (14.0%) $328,230 (8.4%) 0.68 5,510
2020-06-01 $247,200 (23.7%) $351,154 (15.4%) 0.72 5,287
2020-07-01 $249,900 (25.0%) $359,668 (19.1%) 0.72 4,982
2020-08-01 $249,900 (25.0%) $359,066 (19.7%) 0.71 4,824
2020-09-01 $249,900 (25.0%) $361,718 (21.5%) 0.71 4,809
2020-10-01 $245,000 (23.9%) $361,931 (22.6%) 0.70 4,646
2020-11-01 $240,000 (23.1%) $359,640 (21.0%) 0.69 4,297
2020-12-01 $238,950 (26.0%) $363,443 (23.6%) 0.70 3,870
2021-01-01 $243,500 (28.2%) $374,484 (24.5%) 0.72 3,348
2021-02-01 $249,900 (25.0%) $396,864 (25.2%) 0.72 2,767
2021-03-01 $257,950 (20.0%) $414,079 (26.8%) 0.72 2,623
2021-04-01 $267,450 (23.3%) $418,222 (29.1%) 0.72 2,719
2021-05-01 $268,000 (19.1%) $413,019 (25.8%) 0.71 2,910
2021-06-01 $262,450 (6.2%) $399,571 (13.8%) 0.68 3,313
2021-07-01 $247,500 (-1.0%) $376,143 (4.6%) 0.64 3,784
2021-08-01 $232,500 (-7.0%) $353,036 (-1.7%) 0.61 4,113
2021-09-01 $229,900 (-8.0%) $344,807 (-4.7%) 0.61 4,250
2021-10-01 $225,000 (-8.2%) $345,457 (-4.6%) 0.59 4,158
2021-11-01 $219,450 (-8.6%) $340,286 (-5.4%) 0.58 3,894
2021-12-01 $210,000 (-12.1%) $339,063 (-6.7%) 0.56 3,453
2022-01-01 $209,900 (-13.8%) $349,138 (-6.8%) 0.56 2,934
2022-02-01 $215,000 (-14.0%) $368,740 (-7.1%) 0.55 2,504
2022-03-01 $222,500 (-13.7%) $374,164 (-9.6%) 0.55 2,429
2022-04-01 $229,000 (-14.4%) $374,156 (-10.5%) 0.54 2,530
Pittsburgh's median listing price for 2022-04-01 was $229,000, a difference of $-38,450 (-14.4%) versus the prior year and $6,500 versus the prior month.

Pittsburgh's median listing price comes in at 54% of the national average.

Pittsburgh's average listing price for 2022-04-01 was $374,156, a difference of $-44,066 (-10.5%) versus the prior year and $-8 versus the prior month.

For the 2022-04-01 period, Pittsburgh had 2,530 MLS listings, a difference of 101 listings (4%) versus the prior month and -189 listings (-7%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Pittsburgh (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 109 days 1,590 sqft
2018-02-01 111 days 1,578 sqft
2018-03-01 99 days 1,548 sqft
2018-04-01 70 days 1,578 sqft
2018-05-01 62 days 1,606 sqft
2018-06-01 58 days 1,623 sqft
2018-07-01 60 days 1,678 sqft
2018-08-01 65 days 1,613 sqft
2018-09-01 70 days 1,612 sqft
2018-10-01 73 days 1,630 sqft
2018-11-01 79 days 1,627 sqft
2018-12-01 90 days 1,564 sqft
2019-01-01 104 days 1,624 sqft
2019-02-01 108 days 1,613 sqft
2019-03-01 95 days 1,592 sqft
2019-04-01 68 days 1,563 sqft
2019-05-01 59 days 1,616 sqft
2019-06-01 58 days 1,611 sqft
2019-07-01 61 days 1,624 sqft
2019-08-01 64 days 1,715 sqft
2019-09-01 66 days 1,811 sqft
2019-10-01 67 days 1,692 sqft
2019-11-01 73 days 1,679 sqft
2019-12-01 86 days 1,665 sqft
2020-01-01 98 days 1,688 sqft
2020-02-01 98 days 1,711 sqft
2020-03-01 78 days 1,721 sqft
2020-04-01 83 days 1,736 sqft
2020-05-01 91 days 1,773 sqft
2020-06-01 89 days 1,800 sqft
2020-07-01 56 days 1,800 sqft
2020-08-01 55 days 1,800 sqft
2020-09-01 55 days 1,770 sqft
2020-10-01 57 days 1,730 sqft
2020-11-01 64 days 1,700 sqft
2020-12-01 73 days 1,693 sqft
2021-01-01 87 days 1,694 sqft
2021-02-01 87 days 1,686 sqft
2021-03-01 61 days 1,706 sqft
2021-04-01 44 days 1,727 sqft
2021-05-01 43 days 1,719 sqft
2021-06-01 41 days 1,705 sqft
2021-07-01 40 days 1,657 sqft
2021-08-01 42 days 1,629 sqft
2021-09-01 46 days 1,618 sqft
2021-10-01 50 days 1,600 sqft
2021-11-01 55 days 1,585 sqft
2021-12-01 65 days 1,570 sqft
2022-01-01 79 days 1,580 sqft
2022-02-01 82 days 1,624 sqft
2022-03-01 61 days 1,629 sqft
2022-04-01 42 days 1,654 sqft
Pittsburgh's median listing age (time on market) for 2022-04-01 was 42 days. This is -3% shorter than the same period one year ago.

Pittsburgh's median square footage for active listings during the 2022-04-01 period was 1,654 sqft. One year prior, the average listing was 1,727 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).