Punta Gorda FHA Loan Rates, Closing Costs & Stats

PUNTA GORDA, 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.

    Punta Gorda's 134 lenders originated 774 FHA loans during 2022. The total origination value was $197,480,000, with an average FHA loan value of $255,142.

    Punta Gorda FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Punta Gorda averaged -0.35% for the week of 2023-06-02, compared to the national average (all FHA variants) of 0% for the same period.

    Punta Gorda's average FHA mortgage closing costs are $7,959.

    The average rate for the prior week (2023-05-26) was 6.18% and one month ago for the week of 2023-04-28, the average rate was 5.83%.

    The average rate one year ago was 4.88%.

    For refis of the same type during the week of 2023-06-02, the average rate was -1.73%.

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

    Punta Gorda 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 Punta Gorda level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 72 4.25% $11,977
    UNITED WHOLESALE MORTGAGE, LLC 52 4.93% $11,856
    CALIBER HOME LOANS, INC. 39 4.47% $10,721
    LOANDEPOT.COM, LLC 34 4.48% $11,137
    GENEVA FINANCIAL, LLC 19 4.78% $11,741
    FBC MORTGAGE, LLC 19 4.96% $8,182
    HOME POINT FINANCIAL CORPORATION 17 4.41% $11,243
    CROSSCOUNTRY MORTGAGE, LLC 17 5.19% $11,906
    CARDINAL FINANCIAL 14 4.65% $11,853
    THE MORTGAGE FIRM, INC. 14 5.09% $12,296
    PENNYMAC LOAN SERVICES, LLC 14 4.25% $10,920
    FREEDOM MORTGAGE CORPORATION 13 4.61% $10,306
    DHI MORTGAGE COMPANY, LTD. 10 4.31% $11,099
    Paramount Residential Mortgage Group, Inc. 9 4.83% $16,633
    NEWREZ LLC 9 5.18% $10,440
    FINANCE OF AMERICA MORTGAGE LLC 9 5.14% $12,394
    INLANTA MORTGAGE, INC. 8 5.11% $9,529
    Equity Prime Mortgage LLC 8 4.97% $9,881
    Hometown Lenders, Inc. 7 4.61% $13,091
    Mr. Cooper ( Nationstar Mortgage ) 7 4.88% $13,944
    EAGLE HOME MORTGAGE, LLC 7 5.43% $13,295
    AMERISAVE MORTGAGE CORPORATION 7 3.50% $11,789
    Flagstar Bank, FSB 7 5.07% $11,195
    LOANPAL, LLC 6 4.42% $13,057
    EVERETT FINANCIAL, INC. 6 4.98% $6,493
    BROKER SOLUTIONS, INC. 6 5.14% $13,463
    Sierra Pacific Mortgage Company, Inc. 6 4.85% $13,307
    SECURITYNATIONAL MORTGAGE COMPANY 6 5.00% $17,880
    Bank of England 6 4.81% $11,071
    LAKEVIEW LOAN SERVICING, LLC 6 3.27% $5,623
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 5.12% $11,382
    MOVEMENT MORTGAGE, LLC 5 5.18% $12,421
    NTFN, INC. 5 5.25% $10,105
    GUARANTEED RATE, INC. 5 4.35% $11,793
    SUN WEST MORTGAGE COMPANY, INC. 5 4.40% $13,278
    Carrington Mortgage Services, LLC 5 5.58% $10,716
    HOMESIDE FINANCIAL, LLC 5 4.85% $12,559
    VILLAGE CAPITAL MORTGAGE 5 5.05% $9,977
    Nations Lending Corporation 4 5.28% $10,769
    Ixonia Bank 4 5.47% $13,442
    HAMILTON HOME LOANS, INC. 4 4.37% $13,586
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 5.44% $15,043
    INSPIRE HOME LOANS INC. 4 4.84% $9,360
    BAY EQUITY LLC 3 4.75% $9,374
    TOP FLITE FINANCIAL, INC. 3 4.42% $17,942
    AMERICAN FINANCIAL RESOURCES, INC. 3 4.58% $10,749
    PLAZA HOME MORTGAGE, INC. 3 4.00% $11,721
    TOTAL MORTGAGE SERVICES, LLC 3 4.88% $13,664
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.04% $9,617
    MUTUAL OF OMAHA MORTGAGE, INC. 3 4.21% $8,748
    UNION HOME MORTGAGE CORP. 3 5.13% $10,658
    Waterstone Mortgage Corporation 2 5.00% $10,329
    HOMESTEAD FUNDING CORP. 2 5.25% $5,869
    NFM, INC. 2 5.44% $12,009
    JPMorgan Chase Bank 2 4.69% $8,829
    CHURCHILL MORTGAGE CORPORATION 2 4.75% $7,670
    LAND HOME FINANCIAL SERVICES, INC. 2 5.63% $13,262
    MY MORTGAGE, INC. 2 5.50% $14,050
    RADIUS FINANCIAL GROUP INC. 2 6.25% $13,331
    AmRes Corporation 2 5.06% $15,873
    BRIDGEVIEW MORTGAGE CORP. 2 5.94% $12,631
    PULTE MORTGAGE LLC 2 4.56% $10,709
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 4.88% $13,164
    GUILD MORTGAGE COMPANY 2 5.38% $10,060
    T2 FINANCIAL LLC 2 4.81% $11,109
    PLANET HOME LENDING, LLC 2 3.56% $13,476
    TOWNE MORTGAGE COMPANY 2 5.75% $11,294
    AMERICAN FINANCING CORPORATION 2 3.88% $9,091
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 6.06% $16,778
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.87% $13,735
    FIRST ALLIANCE HOME MORTGAGE, LLC 2 6.19% $20,396
    MICHIGAN MUTUAL, INC. 2 4.88% $11,948
    NVR Mortgage Finance, Inc. 2 5.69% $13,167
    DRAPER AND KRAMER MORTGAGE CORP. 2 5.31% $10,078
    Mortgage Research Center, LLC 2 4.81% $6,343
    Synovus Bank 1 3.63% $7,003
    ACADEMY MORTGAGE CORPORATION 1 3.75% $12,988
    A&D Mortgage LLC 1 5.25% $21,439
    Advisors Mortgage Group, L.L.C. 1 5.63% $9,237
    ALLIED MORTGAGE GROUP, INC. 1 3.25% $20,653
    Amerifirst Financial, Inc. 1 5.13% $9,290
    AmeriHome Mortgage Company, LLC 1 2.75% $14,449
    Axos Bank 1 6.00% $13,163
    Bank of America 1 3.00% $5,513
    Barrington Bank & Trust Company, N.A. 1 5.25% $10,505
    BECKAM FUNDING CORP. 1 6.75% $19,314
    BETTER MORTGAGE CORPORATION 1 4.88% $10,007
    EMBRACE HOME LOANS, INC. 1 5.75% $12,081
    FAIRWAY FUNDING GROUP, INC. 1 5.25% $8,792
    FIDELITY FUNDING MORTGAGE CORP. 1 5.25% $18,480
    Fifth Third Bank 1 5.00% $7,213
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 3.63% $12,416
    First Federal Bank 1 4.25% $6,001
    First PREMIER Bank 1 4.50% $10,628
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 3.99% $6,519
    GREAT WESTERN FINANCIAL SERVICES, INC. 1 5.63% $10,375
    GUARANTEED RATE AFFINITY, LLC 1 4.75% $8,806
    HARBORONE MORTGAGE, LLC 1 5.38% $13,077
    Heritage Bank 1 5.00% $13,672
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 4.50% $9,261
    LADERA LENDING, INC. 1 5.63% $9,620
    Lakeview Community Capital, LLC 1 3.38% $5,143
    Meridian Bank Corporation 1 6.13% $13,817
    M/I FINANCIAL, LLC 1 5.00% $12,877
    MILEND, INC. 1 4.25% $12,507
    MLB RESIDENTIAL LENDING, LLC 1 2.25% $19,401
    Mortgage Lenders Investment Trading Corporation 1 5.25% $12,151
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $6,192
    M&T Bank 1 6.88% $18,160
    NATIONS DIRECT MORTGAGE, LLC 1 3.75% $17,352
    NATIONS RELIABLE LENDING, LLC 1 4.13% $14,022
    NATIONWIDE MORTGAGE BANKERS, INC. 1 4.25% $22,128
    NEXERA HOLDING LLC 1 4.50% $8,731
    OCMBC, INC. 1 4.63% $13,408
    OPEN MORTGAGE, LLC 1 5.63% $15,046
    Peoples Bank 1 4.99% $21,777
    Plains Commerce Bank 1 5.63% $17,822
    POLARIS HOME FUNDING CORP. 1 2.63% $9,155
    Preston Home Loans Inc 1 5.25% $9,082
    Regions Bank 1 4.50% $6,370
    RESIDENTIAL HOME FUNDING CORP. 1 3.75% $8,917
    RESIDENTIAL HOME MORTGAGE CORPORATION 1 5.13% $10,682
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 5.25% $8,247
    South State Bank 1 6.50% $12,757
    SOUTHWEST FUNDING, LP 1 5.75% $15,273
    SUCCESS MORTGAGE PARTNERS, INC. 1 4.00% $11,900
    ABSOLUTE HOME MORTGAGE CORPORATION 1 4.75% $10,472
    TJC Mortgage, Inc. 1 5.25% $10,957
    Town Square Mortgage & Investments, Inc. 1 5.75% $14,697
    Trustmark National Bank 1 7.50% $11,868
    Union Savings Bank 1 3.25% $9,150
    VAN DYK MORTGAGE CORPORATION 1 5.63% $15,349
    VERITAS FUNDING, LLC 1 3.99% $24,619
    Victorian Finance, LLC 1 5.75% $14,499

    The top Punta Gorda FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 72 FHA loans originated. Their average total fees are $11,977, which is $121 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Punta Gorda FHA lenders (with over 10 loans originated) are FBC MORTGAGE, LLC ($8,182), FREEDOM MORTGAGE CORPORATION ($10,306), CALIBER HOME LOANS, INC. ($10,721), PENNYMAC LOAN SERVICES, LLC ($10,920) and DHI MORTGAGE COMPANY, LTD. ($11,099).

    The lowest rate Punta Gorda FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.25%), PENNYMAC LOAN SERVICES, LLC (4.25%), DHI MORTGAGE COMPANY, LTD. (4.31%), HOME POINT FINANCIAL CORPORATION (4.41%) and CALIBER HOME LOANS, INC. (4.47%).

    Punta Gorda FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Punta Gorda (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 $274,900 (1.8%) $364,771 (-2.4%) 1.02 2,207
    2018-02-01 $274,950 (2.1%) $366,572 (-0.4%) 1.00 2,254
    2018-03-01 $275,000 (3.6%) $366,069 (0.2%) 0.96 2,256
    2018-04-01 $269,950 (1.5%) $366,584 (0.5%) 0.92 2,186
    2018-05-01 $269,950 (2.8%) $365,442 (0.9%) 0.90 2,074
    2018-06-01 $274,900 (4.1%) $373,399 (4.4%) 0.92 1,937
    2018-07-01 $271,790 (2.6%) $368,957 (3.8%) 0.91 1,859
    2018-08-01 $269,949 (1.8%) $361,520 (2.0%) 0.90 1,811
    2018-09-01 $269,000 (1.6%) $354,561 (1.0%) 0.90 1,788
    2018-10-01 $274,925 (3.0%) $363,862 (4.7%) 0.93 1,880
    2018-11-01 $279,250 (2.9%) $367,202 (3.2%) 0.95 2,114
    2018-12-01 $279,900 (3.7%) $373,128 (2.6%) 0.97 2,309
    2019-01-01 $280,000 (1.9%) $375,992 (3.1%) 0.97 2,441
    2019-02-01 $279,950 (1.8%) $374,308 (2.1%) 0.95 2,606
    2019-03-01 $277,857 (1.0%) $369,467 (0.9%) 0.91 2,572
    2019-04-01 $275,000 (1.9%) $365,206 (-0.4%) 0.87 2,483
    2019-05-01 $275,000 (1.9%) $363,870 (-0.4%) 0.86 2,290
    2019-06-01 $274,900 (0.0%) $364,090 (-2.5%) 0.86 2,092
    2019-07-01 $275,000 (1.2%) $366,548 (-0.7%) 0.86 1,927
    2019-08-01 $276,091 (2.3%) $368,175 (1.8%) 0.87 1,891
    2019-09-01 $277,727 (3.2%) $369,744 (4.3%) 0.89 1,883
    2019-10-01 $279,000 (1.5%) $371,357 (2.1%) 0.90 1,893
    2019-11-01 $279,900 (0.2%) $375,462 (2.3%) 0.92 1,989
    2019-12-01 $290,000 (3.6%) $389,098 (4.3%) 0.97 2,011
    2020-01-01 $290,000 (3.6%) $389,001 (3.5%) 0.97 2,020
    2020-02-01 $289,900 (3.6%) $390,172 (4.2%) 0.95 2,017
    2020-03-01 $286,125 (3.0%) $388,578 (5.2%) 0.90 2,008
    2020-04-01 $282,898 (2.9%) $380,811 (4.3%) 0.89 2,030
    2020-05-01 $285,000 (3.6%) $384,758 (5.7%) 0.87 1,934
    2020-06-01 $284,500 (3.5%) $391,484 (7.5%) 0.84 1,717
    2020-07-01 $281,660 (2.4%) $392,060 (7.0%) 0.82 1,516
    2020-08-01 $284,000 (2.9%) $392,012 (6.5%) 0.81 1,411
    2020-09-01 $279,600 (0.7%) $395,644 (7.0%) 0.80 1,345
    2020-10-01 $276,035 (-1.1%) $401,581 (8.1%) 0.79 1,300
    2020-11-01 $278,938 (-0.3%) $412,817 (10.0%) 0.82 1,254
    2020-12-01 $289,675 (-0.1%) $422,575 (8.6%) 0.86 1,165
    2021-01-01 $294,900 (1.7%) $451,789 (16.1%) 0.88 1,003
    2021-02-01 $297,948 (2.8%) $459,840 (17.9%) 0.87 798
    2021-03-01 $300,000 (4.9%) $462,255 (19.0%) 0.85 615
    2021-04-01 $322,450 (14.0%) $490,006 (28.7%) 0.87 522
    2021-05-01 $324,900 (14.0%) $476,577 (23.9%) 0.86 537
    2021-06-01 $337,500 (18.6%) $488,708 (24.8%) 0.89 535
    2021-07-01 $355,900 (26.4%) $509,041 (29.8%) 0.94 583
    2021-08-01 $370,000 (30.3%) $523,803 (33.6%) 0.99 623
    2021-09-01 $374,950 (34.1%) $528,588 (33.6%) 1.00 641
    2021-10-01 $379,900 (37.6%) $545,744 (35.9%) 1.01 649
    2021-11-01 $399,225 (43.1%) $599,207 (45.2%) 1.07 609
    2021-12-01 $395,463 (36.5%) $595,410 (40.9%) 1.07 639
    2022-01-01 $391,527 (32.8%) $587,603 (30.1%) 1.06 534
    2022-02-01 $422,500 (41.8%) $623,182 (35.5%) 1.10 530
    2022-03-01 $430,227 (43.4%) $630,148 (36.3%) 1.08 555
    2022-04-01 $435,699 (35.1%) $627,310 (28.0%) 1.04 659
    2022-05-01 $454,475 (39.9%) $625,715 (31.3%) 1.04 849
    2022-06-01 $457,750 (35.6%) $621,104 (27.1%) 1.02 1,020
    2022-07-01 $449,900 (26.4%) $603,564 (18.6%) 1.01 1,165
    2022-08-01 $448,068 (21.1%) $565,749 (8.0%) 1.04 1,264
    2022-09-01 $449,444 (19.9%) $565,672 (7.0%) 1.05 1,290
    2022-10-01 $449,900 (18.4%) $571,322 (4.7%) 1.06 1,158
    2022-11-01 $440,875 (10.4%) $560,372 (-6.5%) 1.06 1,170
    2022-12-01 $425,000 (7.5%) $556,570 (-6.5%) 1.05 1,188
    2023-01-01 $429,000 (9.6%) $561,564 (-4.4%) 1.06 1,290
    2023-02-01 $437,450 (3.5%) $583,778 (-6.3%) 1.06 1,397
    2023-03-01 $438,850 (2.0%) $575,524 (-8.7%) 1.04 1,583
    2023-04-01 $430,410 (-1.2%) $569,089 (-9.3%) 1.00 1,767
    2023-05-01 $432,450 (-4.9%) $573,213 (-8.4%) 0.98 1,811
    Punta Gorda's median listing price for 2023-05-01 was $432,450, a difference of $-22,025 (-4.9%) versus the prior year and $2,040 versus the prior month.

    Punta Gorda's median listing price comes in at 98% of the national average.

    Punta Gorda's average listing price for 2023-05-01 was $573,213, a difference of $-52,502 (-8.4%) versus the prior year and $4,124 versus the prior month.

    For the 2023-05-01 period, Punta Gorda had 1,811 MLS listings, a difference of 44 listings (2%) versus the prior month and 962 listings (113%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Punta Gorda (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 69 days 1,800 sqft
    2018-02-01 68 days 1,790 sqft
    2018-03-01 66 days 1,787 sqft
    2018-04-01 71 days 1,777 sqft
    2018-05-01 74 days 1,759 sqft
    2018-06-01 85 days 1,768 sqft
    2018-07-01 87 days 1,782 sqft
    2018-08-01 86 days 1,758 sqft
    2018-09-01 86 days 1,756 sqft
    2018-10-01 84 days 1,764 sqft
    2018-11-01 65 days 1,760 sqft
    2018-12-01 66 days 1,767 sqft
    2019-01-01 73 days 1,771 sqft
    2019-02-01 72 days 1,756 sqft
    2019-03-01 72 days 1,745 sqft
    2019-04-01 74 days 1,729 sqft
    2019-05-01 81 days 1,723 sqft
    2019-06-01 89 days 1,723 sqft
    2019-07-01 93 days 1,731 sqft
    2019-08-01 92 days 1,754 sqft
    2019-09-01 89 days 1,754 sqft
    2019-10-01 86 days 1,754 sqft
    2019-11-01 71 days 1,768 sqft
    2019-12-01 73 days 1,789 sqft
    2020-01-01 78 days 1,780 sqft
    2020-02-01 73 days 1,770 sqft
    2020-03-01 66 days 1,760 sqft
    2020-04-01 70 days 1,743 sqft
    2020-05-01 78 days 1,732 sqft
    2020-06-01 90 days 1,696 sqft
    2020-07-01 89 days 1,700 sqft
    2020-08-01 74 days 1,696 sqft
    2020-09-01 72 days 1,716 sqft
    2020-10-01 62 days 1,686 sqft
    2020-11-01 61 days 1,692 sqft
    2020-12-01 66 days 1,692 sqft
    2021-01-01 70 days 1,693 sqft
    2021-02-01 59 days 1,686 sqft
    2021-03-01 44 days 1,667 sqft
    2021-04-01 43 days 1,678 sqft
    2021-05-01 38 days 1,684 sqft
    2021-06-01 38 days 1,686 sqft
    2021-07-01 37 days 1,683 sqft
    2021-08-01 41 days 1,708 sqft
    2021-09-01 43 days 1,690 sqft
    2021-10-01 46 days 1,710 sqft
    2021-11-01 46 days 1,737 sqft
    2021-12-01 54 days 1,732 sqft
    2022-01-01 49 days 1,715 sqft
    2022-02-01 37 days 1,757 sqft
    2022-03-01 37 days 1,730 sqft
    2022-04-01 34 days 1,697 sqft
    2022-05-01 35 days 1,742 sqft
    2022-06-01 39 days 1,718 sqft
    2022-07-01 43 days 1,729 sqft
    2022-08-01 48 days 1,738 sqft
    2022-09-01 53 days 1,753 sqft
    2022-10-01 73 days 1,776 sqft
    2022-11-01 75 days 1,784 sqft
    2022-12-01 79 days 1,745 sqft
    2023-01-01 68 days 1,738 sqft
    2023-02-01 49 days 1,748 sqft
    2023-03-01 45 days 1,729 sqft
    2023-04-01 47 days 1,726 sqft
    2023-05-01 57 days 1,727 sqft
    Punta Gorda's median listing age (time on market) for 2023-05-01 was 57 days. This is 64% longer than the same period one year ago.

    Punta Gorda's median square footage for active listings during the 2023-05-01 period was 1,727 sqft. One year prior, the average listing was 1,742 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).