Reno FHA Loan Rates, Closing Costs & Stats

RENO, NV

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.

Reno's 103 lenders originated 1,309 FHA loans during 2024. The total origination value was $548,845,000, with an average FHA loan value of $419,286.

Reno FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Reno averaged 6.35% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

Reno's average FHA mortgage closing costs are $11,649.

The average rate for the prior week (2025-03-28) was 6.24% and one month ago for the week of 2025-02-28, the average rate was 6.33%.

The average rate one year ago was 6.45%.

For refis of the same type during the week of 2025-04-04, the average rate was 6.26%.

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

Reno 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 Reno level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
GUILD MORTGAGE COMPANY 159 6.56% $18,164
DHI MORTGAGE COMPANY, LTD. 146 5.11% $11,002
UNITED WHOLESALE MORTGAGE, LLC 132 6.00% $17,076
CROSSCOUNTRY MORTGAGE, LLC 82 6.37% $17,065
QUICKEN LOANS, LLC 67 6.26% $16,075
BROKER SOLUTIONS, INC. 38 6.56% $15,074
EAGLE HOME MORTGAGE, LLC 34 5.24% $15,595
FREEDOM MORTGAGE CORPORATION 29 6.02% $14,801
ISERVE RESIDENTIAL LENDING, LLC 25 6.55% $19,094
PRIMELENDING, A PLAINSCAPITAL COMPANY 24 6.51% $15,605
LOANDEPOT.COM, LLC 23 5.62% $23,628
SUMMIT FUNDING, INC. 21 6.41% $19,724
PENNYMAC LOAN SERVICES, LLC 16 6.06% $17,072
Mr. Cooper ( Nationstar Mortgage ) 16 6.43% $16,786
AXIA FINANCIAL, LLC 15 6.24% $20,137
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 15 6.29% $16,411
CARDINAL FINANCIAL 12 6.86% $15,094
Gateway First Bank 12 6.77% $17,100
CANOPY MORTGAGE, LLC 11 6.33% $16,270
AMERICAN FINANCIAL NETWORK, INC. 11 6.25% $18,479
TJC Mortgage, Inc. 11 6.70% $14,312
NEWREZ LLC 10 6.25% $15,342
Cornerstone First Mortgage, Inc 10 6.29% $18,269
Paramount Residential Mortgage Group, Inc. 10 6.71% $17,462
LOANPAL, LLC 9 5.61% $14,407
Equity Prime Mortgage LLC 9 6.81% $12,734
MOVEMENT MORTGAGE, LLC 9 6.43% $16,151
CMG MORTGAGE, INC. 9 6.54% $15,383
CALCON MUTUAL MORTGAGE LLC 8 6.73% $18,483
TBI MORTGAGE COMPANY 8 6.11% $19,418
PLANET HOME LENDING, LLC 7 5.91% $15,557
HOMEBRIDGE FINANCIAL SERVICES, INC. 7 6.09% $11,615
INFINITY EQUITY GROUP, INC. 7 6.95% $13,335
Flagstar Bank, FSB 6 6.09% $13,472
Plains Commerce Bank 6 6.27% $13,585
MUTUAL OF OMAHA MORTGAGE, INC. 6 6.25% $19,836
FIRST COLONY MORTGAGE CORPORATION 5 5.55% $15,439
LAKEVIEW LOAN SERVICING, LLC 5 6.03% $10,531
VILLAGE CAPITAL MORTGAGE 5 6.33% $3,426
AMERISAVE MORTGAGE CORPORATION 5 6.00% $17,881
GREATER NEVADA LLC 5 6.38% $12,912
Franklin Loan Corporation 4 6.66% $17,511
PACIFIC RESIDENTIAL MORTGAGE, LLC 4 7.19% $18,357
SUN WEST MORTGAGE COMPANY, INC. 4 5.78% $14,544
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.13% $15,187
American Mortgage & Equity Consultants, Inc. 4 6.69% $15,102
Zions Bank 3 6.00% $16,486
MASON MCDUFFIE MORTGAGE CORPORATION 3 6.75% $15,747
UNITED 3 6.21% $18,349
ONE NEVADA CREDIT UNION 2 4.88% $16,551
Carrington Mortgage Services, LLC 2 6.13% $21,393
BAY EQUITY LLC 2 6.88% $13,846
T2 FINANCIAL LLC 2 7.19% $15,847
Mortgage Research Center, LLC 2 6.50% $12,604
PREMIER MORTGAGE RESOURCES, L.L.C. 2 5.56% $15,168
GUARANTEED RATE, INC. 2 6.88% $12,344
The Loan Store, Inc. 2 6.25% $10,485
BMO Harris Bank 2 7.44% $7,239
TOWNE MORTGAGE COMPANY 2 7.50% $17,915
NFM, INC. 2 7.19% $14,474
DATA MORTGAGE, INC. 2 6.19% $9,673
INTELLILOAN, INC. 2 5.88% $6,032
S1L, Inc. 2 6.44% $16,045
SECURITYNATIONAL MORTGAGE COMPANY 2 6.44% $19,998
Sierra Pacific Mortgage Company, Inc. 2 6.25% $19,643
LAND HOME FINANCIAL SERVICES, INC. 2 7.25% $21,384
PANORAMA MORTGAGE GROUP, LLC 1 6.75% $17,530
CHURCHILL MORTGAGE CORPORATION 1 6.00% $25,829
Century Mortgage Company DBA Century Lending Company 1 5.99% $16,057
PREMIA MORTGAGE, LLC 1 5.63% $10,326
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.63% $15,855
Prosperity Home Mortgage, LLC 1 4.99% $37,614
BELEM SERVICING LLC 1 6.75% $16,574
RESIDENTIAL BANCORP 1 6.25% $7,304
BAY-VALLEY MORTGAGE GROUP 1 5.75% $14,761
Sunflower Bank 1 6.63% $16,074
Bank of America 1 5.25% $26,685
The Central Trust Bank 1 6.63% $16,846
The Federal Savings Bank 1 6.75% $9,396
Armed Forces Bank 1 6.50% $12,754
Union Savings Bank 1 6.13% $12,416
AMERICAN FINANCING CORPORATION 1 5.99% $23,747
AmeriHome Mortgage Company, LLC 1 6.50% $10,036
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $18,899
Watermark Capital, Inc. 1 5.25% $9,969
LADERA LENDING, INC. 1 6.25% $16,981
Ixonia Bank 1 6.00% $17,123
HOMESIDE FINANCIAL, LLC 1 5.88% $19,517
Willamette Valley Bank 1 6.75% $18,125
MID AMERICA MORTGAGE, INC. 1 6.25% $10,434
MORIA DEVELOPMENT, INC. 1 6.75% $17,472
MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 6.75% $5,748
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $31,504
Home Mortgage Alliance Corp 1 6.25% $10,445
M&T Bank 1 5.63% $22,910
Goldwater Bank, N.A. 1 5.75% $25,528
NATIONS DIRECT MORTGAGE, LLC 1 6.25% $26,551
Nations Lending Corporation 1 6.75% $20,954
NETWORK CAPITAL FUNDING CORPORATION 1 6.75% $6,276
FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $15,091
OCMBC, INC. 1 6.13% $14,980
ON Q FINANCIAL, INC. 1 5.99% $14,839
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.63% $38,649

The top Reno FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 159 FHA loans originated. Their average total fees are $18,164, which is $7,162 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Reno FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($11,002), TJC Mortgage, Inc. ($14,312), FREEDOM MORTGAGE CORPORATION ($14,801), BROKER SOLUTIONS, INC. ($15,074) and CARDINAL FINANCIAL ($15,094).

The lowest rate Reno FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.11%), EAGLE HOME MORTGAGE, LLC (5.24%), LOANDEPOT.COM, LLC (5.62%), UNITED WHOLESALE MORTGAGE, LLC (6.00%) and FREEDOM MORTGAGE CORPORATION (6.02%).

Reno FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
RENO, NV STOREY 2022 $534,750 $684,550 $827,500 $1,028,350
RENO, NV WASHOE 2022 $534,750 $684,550 $827,500 $1,028,350
RENO, NV STOREY 2023 $621,000 $795,000 $960,950 $1,194,250
RENO, NV WASHOE 2023 $621,000 $795,000 $960,950 $1,194,250

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Reno (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 $422,450 (8.6%) $1,040,487 (30.4%) 1.57 999
2018-02-01 $437,425 (9.4%) $1,063,980 (29.4%) 1.59 932
2018-03-01 $438,250 (9.7%) $1,010,958 (26.1%) 1.54 952
2018-04-01 $454,499 (13.6%) $1,014,272 (27.2%) 1.54 1,022
2018-05-01 $443,736 (5.3%) $959,068 (18.0%) 1.48 1,145
2018-06-01 $440,000 (3.1%) $928,499 (13.9%) 1.47 1,276
2018-07-01 $435,000 (-0.9%) $889,063 (-1.4%) 1.45 1,605
2018-08-01 $429,350 (0.0%) $856,547 (-2.4%) 1.44 1,804
2018-09-01 $425,000 (-3.1%) $828,412 (-7.7%) 1.43 1,963
2018-10-01 $410,625 (-4.5%) $795,454 (-11.6%) 1.39 2,052
2018-11-01 $407,350 (-5.5%) $799,562 (-13.0%) 1.38 1,965
2018-12-01 $400,000 (-7.0%) $807,400 (-15.2%) 1.38 1,838
2019-01-01 $404,500 (-4.3%) $845,774 (-18.7%) 1.40 1,625
2019-02-01 $412,438 (-5.7%) $879,548 (-17.3%) 1.39 1,505
2019-03-01 $425,836 (-2.8%) $891,009 (-11.9%) 1.39 1,459
2019-04-01 $433,811 (-4.6%) $888,654 (-12.4%) 1.38 1,468
2019-05-01 $432,000 (-2.6%) $849,059 (-11.5%) 1.35 1,693
2019-06-01 $445,000 (1.1%) $842,455 (-9.3%) 1.39 1,868
2019-07-01 $440,475 (1.3%) $842,069 (-5.3%) 1.38 2,055
2019-08-01 $439,936 (2.5%) $849,114 (-0.9%) 1.39 2,072
2019-09-01 $439,916 (3.5%) $862,092 (4.1%) 1.41 2,007
2019-10-01 $439,902 (7.1%) $882,273 (10.9%) 1.42 1,935
2019-11-01 $439,000 (7.8%) $919,632 (15.0%) 1.44 1,726
2019-12-01 $447,000 (11.8%) $975,727 (20.9%) 1.49 1,448
2020-01-01 $449,000 (11.0%) $1,028,567 (21.6%) 1.50 1,241
2020-02-01 $465,000 (12.7%) $1,100,574 (25.1%) 1.52 1,079
2020-03-01 $464,700 (9.1%) $1,079,483 (21.2%) 1.46 1,105
2020-04-01 $449,688 (3.7%) $967,102 (8.8%) 1.41 1,349
2020-05-01 $472,635 (9.4%) $993,083 (17.0%) 1.44 1,339
2020-06-01 $499,000 (12.1%) $1,114,352 (32.3%) 1.47 1,213
2020-07-01 $509,000 (15.6%) $982,545 (16.7%) 1.48 1,061
2020-08-01 $499,000 (13.4%) $989,975 (16.6%) 1.43 946
2020-09-01 $527,500 (19.9%) $1,003,750 (16.4%) 1.51 856
2020-10-01 $510,000 (15.9%) $1,083,108 (22.8%) 1.46 766
2020-11-01 $499,500 (13.8%) $1,091,599 (18.7%) 1.46 609
2020-12-01 $512,250 (14.6%) $1,115,228 (14.3%) 1.52 482
2021-01-01 $499,950 (11.4%) $1,103,396 (7.3%) 1.49 420
2021-02-01 $482,500 (3.8%) $957,645 (-13.0%) 1.40 363
2021-03-01 $479,975 (3.3%) $986,196 (-8.6%) 1.36 398
2021-04-01 $490,000 (9.0%) $848,962 (-12.2%) 1.33 646
2021-05-01 $510,000 (7.9%) $911,590 (-8.2%) 1.35 498
2021-06-01 $559,950 (12.2%) $978,725 (-12.2%) 1.47 504
2021-07-01 $575,000 (13.0%) $998,124 (1.6%) 1.52 634
2021-08-01 $577,000 (15.6%) $1,025,661 (3.6%) 1.54 791
2021-09-01 $572,750 (8.6%) $1,022,032 (1.8%) 1.53 881
2021-10-01 $580,500 (13.8%) $1,009,103 (-6.8%) 1.55 908
2021-11-01 $575,000 (15.1%) $1,036,700 (-5.0%) 1.54 804
2021-12-01 $562,450 (9.8%) $1,067,492 (-4.3%) 1.52 593
2022-01-01 $569,000 (13.8%) $1,148,206 (4.1%) 1.54 500
2022-02-01 $578,500 (19.9%) $1,246,568 (30.2%) 1.50 438
2022-03-01 $589,250 (22.8%) $1,266,552 (28.4%) 1.48 483
2022-04-01 $620,000 (26.5%) $1,137,183 (34.0%) 1.48 676
2022-05-01 $645,750 (26.6%) $1,112,030 (22.0%) 1.48 1,012
2022-06-01 $636,600 (13.7%) $1,094,007 (11.8%) 1.42 1,475
2022-07-01 $599,900 (4.3%) $1,037,343 (3.9%) 1.35 1,840
2022-08-01 $595,000 (3.1%) $1,006,173 (-1.9%) 1.38 1,946
2022-09-01 $577,000 (0.7%) $980,782 (-4.0%) 1.35 1,923
2022-10-01 $569,900 (-1.8%) $986,996 (-2.2%) 1.34 1,905
2022-11-01 $552,499 (-3.9%) $1,020,644 (-1.6%) 1.33 1,723
2022-12-01 $550,000 (-2.2%) $1,035,305 (-3.0%) 1.36 1,423
2023-01-01 $554,900 (-2.5%) $1,055,268 (-8.1%) 1.37 1,171
2023-02-01 $568,463 (-1.7%) $1,108,931 (-11.0%) 1.37 977
2023-03-01 $588,500 (-0.1%) $1,101,231 (-13.1%) 1.39 881
2023-04-01 $614,414 (-0.9%) $1,136,690 (0.0%) 1.43 844
2023-05-01 $629,950 (-2.5%) $1,166,259 (4.9%) 1.43 991
2023-06-01 $644,125 (1.2%) $1,164,662 (6.5%) 1.45 1,112
2023-07-01 $650,000 (8.4%) $1,219,221 (17.5%) 1.48 1,197
2023-08-01 $646,975 (8.7%) $1,232,864 (22.5%) 1.49 1,229
2023-09-01 $635,393 (10.1%) $1,209,640 (23.3%) 1.48 1,306
2023-10-01 $621,250 (9.0%) $1,217,631 (23.4%) 1.46 1,309
2023-11-01 $600,000 (8.6%) $1,196,748 (17.3%) 1.43 1,233
2023-12-01 $595,000 (8.2%) $1,189,094 (14.9%) 1.45 1,101
2024-01-01 $599,710 (8.1%) $1,201,327 (13.8%) 1.46 988
2024-02-01 $599,500 (5.5%) $1,214,911 (9.6%) 1.44 889
2024-03-01 $615,000 (4.5%) $1,217,656 (10.6%) 1.45 887
2024-04-01 $617,438 (0.5%) $1,227,247 (8.0%) 1.44 972
2024-05-01 $637,500 (1.2%) $1,215,352 (4.2%) 1.45 1,127
2024-06-01 $619,000 (-3.9%) $1,182,943 (1.6%) 1.41 1,393
2024-07-01 $614,500 (-5.5%) $1,175,103 (-3.6%) 1.41 1,573
2024-08-01 $599,900 (-7.3%) $1,169,155 (-5.2%) 1.40 1,665
2024-09-01 $599,450 (-5.7%) $1,155,204 (-4.5%) 1.41 1,689
2024-10-01 $599,487 (-3.5%) $1,104,807 (-9.3%) 1.41 1,676
2024-11-01 $594,322 (-1.0%) $1,091,831 (-8.8%) 1.43 1,601
2024-12-01 $575,000 (-3.4%) $1,012,969 (-14.8%) 1.43 1,412
2025-01-01 $569,998 (-5.0%) $1,067,920 (-11.1%) 1.42 1,274
2025-02-01 $572,500 (-4.5%) $1,050,111 (-13.6%) 1.39 1,224
2025-03-01 $569,250 (-7.4%) $1,048,358 (-13.9%) 0.00 1,250
Reno's median listing price for 2025-03-01 was $569,250, a difference of $-45,750 (-7.4%) versus the prior year and $-3,250 versus the prior month.

Reno's median listing price comes in at 0% of the national average.

Reno's average listing price for 2025-03-01 was $1,048,358, a difference of $-169,298 (-13.9%) versus the prior year and $-1,753 versus the prior month.

For the 2025-03-01 period, Reno had 1,250 MLS listings, a difference of 26 listings (2%) versus the prior month and 363 listings (41%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Reno (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 78 days 2,222 sqft
2018-02-01 54 days 2,224 sqft
2018-03-01 45 days 2,174 sqft
2018-04-01 44 days 2,204 sqft
2018-05-01 36 days 2,095 sqft
2018-06-01 37 days 2,081 sqft
2018-07-01 38 days 2,064 sqft
2018-08-01 41 days 2,031 sqft
2018-09-01 45 days 2,018 sqft
2018-10-01 52 days 1,996 sqft
2018-11-01 60 days 1,980 sqft
2018-12-01 71 days 1,989 sqft
2019-01-01 78 days 1,969 sqft
2019-02-01 69 days 1,993 sqft
2019-03-01 56 days 2,044 sqft
2019-04-01 44 days 2,093 sqft
2019-05-01 40 days 2,077 sqft
2019-06-01 43 days 2,113 sqft
2019-07-01 45 days 2,086 sqft
2019-08-01 49 days 2,068 sqft
2019-09-01 56 days 2,073 sqft
2019-10-01 61 days 2,079 sqft
2019-11-01 65 days 2,074 sqft
2019-12-01 71 days 2,120 sqft
2020-01-01 72 days 2,121 sqft
2020-02-01 58 days 2,169 sqft
2020-03-01 38 days 2,122 sqft
2020-04-01 41 days 2,067 sqft
2020-05-01 45 days 2,123 sqft
2020-06-01 44 days 2,222 sqft
2020-07-01 42 days 2,230 sqft
2020-08-01 42 days 2,148 sqft
2020-09-01 33 days 2,166 sqft
2020-10-01 45 days 2,090 sqft
2020-11-01 53 days 2,026 sqft
2020-12-01 57 days 2,045 sqft
2021-01-01 47 days 2,011 sqft
2021-02-01 33 days 1,862 sqft
2021-03-01 19 days 1,822 sqft
2021-04-01 18 days 1,801 sqft
2021-05-01 27 days 1,832 sqft
2021-06-01 29 days 1,891 sqft
2021-07-01 29 days 1,976 sqft
2021-08-01 29 days 1,944 sqft
2021-09-01 32 days 1,935 sqft
2021-10-01 37 days 2,001 sqft
2021-11-01 41 days 1,960 sqft
2021-12-01 50 days 1,933 sqft
2022-01-01 53 days 1,923 sqft
2022-02-01 33 days 1,922 sqft
2022-03-01 29 days 1,948 sqft
2022-04-01 27 days 2,024 sqft
2022-05-01 26 days 2,022 sqft
2022-06-01 30 days 2,015 sqft
2022-07-01 37 days 1,979 sqft
2022-08-01 47 days 1,990 sqft
2022-09-01 57 days 1,965 sqft
2022-10-01 63 days 1,959 sqft
2022-11-01 69 days 1,964 sqft
2022-12-01 82 days 1,958 sqft
2023-01-01 92 days 1,962 sqft
2023-02-01 89 days 1,973 sqft
2023-03-01 62 days 1,994 sqft
2023-04-01 46 days 2,078 sqft
2023-05-01 37 days 2,089 sqft
2023-06-01 38 days 2,117 sqft
2023-07-01 42 days 2,164 sqft
2023-08-01 44 days 2,141 sqft
2023-09-01 50 days 2,109 sqft
2023-10-01 56 days 2,088 sqft
2023-11-01 60 days 2,070 sqft
2023-12-01 71 days 2,021 sqft
2024-01-01 76 days 2,005 sqft
2024-02-01 69 days 2,002 sqft
2024-03-01 51 days 2,011 sqft
2024-04-01 41 days 2,022 sqft
2024-05-01 34 days 1,996 sqft
2024-06-01 38 days 1,960 sqft
2024-07-01 45 days 1,958 sqft
2024-08-01 51 days 1,938 sqft
2024-09-01 56 days 1,904 sqft
2024-10-01 58 days 1,929 sqft
2024-11-01 64 days 1,874 sqft
2024-12-01 74 days 1,835 sqft
2025-01-01 75 days 1,832 sqft
2025-02-01 65 days 1,822 sqft
2025-03-01 0 days 1,818 sqft
Reno's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

Reno's median square footage for active listings during the 2025-03-01 period was 1,818 sqft. One year prior, the average listing was 2,011 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).