San Diego FHA Loan Rates, Closing Costs & Stats

SAN DIEGO-CHULA VISTA-CARLSBAD, CA

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.

San Diego's 142 lenders originated 3,447 FHA loans during 2022. The total origination value was $1,811,855,000, with an average FHA loan value of $525,632.

San Diego FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in San Diego averaged 5.63% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

San Diego's average FHA mortgage closing costs are $13,973.

The average rate for the prior week (2023-05-19) was 5.91% and one month ago for the week of 2023-04-21, the average rate was 5.85%.

The average rate one year ago was 4.77%.

For refis of the same type during the week of 2023-05-26, the average rate was 4.6%.

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

San Diego 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 San Diego level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 492 4.57% $20,372
QUICKEN LOANS, LLC 157 4.13% $18,578
LOANDEPOT.COM, LLC 119 4.27% $18,379
CALIBER HOME LOANS, INC. 92 4.32% $18,852
CROSSCOUNTRY MORTGAGE, LLC 77 4.95% $25,366
HOME POINT FINANCIAL CORPORATION 62 3.82% $16,310
FREEDOM MORTGAGE CORPORATION 49 4.36% $18,464
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 43 4.78% $17,972
PENNYMAC LOAN SERVICES, LLC 42 3.97% $17,222
BROKER SOLUTIONS, INC. 41 4.81% $20,521
BECKAM FUNDING CORP. 40 6.06% $33,669
HOMEBRIDGE FINANCIAL SERVICES, INC. 37 4.66% $19,973
FINANCE OF AMERICA MORTGAGE LLC 37 4.78% $19,525
S1L, Inc. 36 5.22% $21,426
GUILD MORTGAGE COMPANY 35 4.79% $22,543
CARDINAL FINANCIAL 33 4.22% $19,071
Flagstar Bank, FSB 32 4.29% $17,833
Carrington Mortgage Services, LLC 27 4.33% $20,643
Paramount Residential Mortgage Group, Inc. 26 4.79% $18,883
MOVEMENT MORTGAGE, LLC 25 4.90% $21,386
AMERISAVE MORTGAGE CORPORATION 24 4.38% $23,170
GUARANTEED RATE, INC. 23 4.85% $19,914
MID AMERICA MORTGAGE, INC. 20 3.91% $4,253
Mr. Cooper ( Nationstar Mortgage ) 19 3.93% $18,697
AMERICAN PACIFIC MORTGAGE CORPORATION 18 4.67% $22,559
OCMBC, INC. 17 4.76% $21,324
Golden Empire Mortgage, Inc. 17 5.62% $26,685
BAY EQUITY LLC 16 4.75% $19,774
Cornerstone First Mortgage, Inc 16 4.16% $20,162
SUMMIT FUNDING, INC. 16 4.98% $23,768
Equity Prime Mortgage LLC 16 4.91% $21,272
LAKEVIEW LOAN SERVICING, LLC 16 3.71% $11,353
PLANET HOME LENDING, LLC 15 3.55% $22,930
NATIONS DIRECT MORTGAGE, LLC 14 4.17% $22,339
NEWREZ LLC 14 4.50% $17,348
EAGLE HOME MORTGAGE, LLC 13 4.95% $20,676
CHERRY CREEK MORTGAGE, LLC 13 3.81% $11,264
RESIDENTIAL BANCORP. 12 4.92% $24,691
RESIDENTIAL WHOLESALE MORTGAGE, INC. 12 4.34% $18,034
NOVA FINANCIAL & INVESTMENT CORPORATION 11 4.51% $9,190
CALCON MUTUAL MORTGAGE LLC 9 5.75% $22,460
PLAZA HOME MORTGAGE, INC. 9 4.86% $23,021
SUN WEST MORTGAGE COMPANY, INC. 8 4.36% $17,807
EVERETT FINANCIAL, INC. 8 4.34% $14,128
GUARANTEED RATE AFFINITY, LLC 8 4.34% $16,249
Sierra Pacific Mortgage Company, Inc. 8 5.23% $21,818
Pacific Lending LLC 7 5.04% $28,132
Shea Mortgage Inc. 7 4.20% $12,292
CMG MORTGAGE, INC. 7 4.82% $19,191
GRANDE HOMES, INC. 7 4.07% $14,843
Lakeview Community Capital, LLC 6 3.42% $9,315
Hometown Equity Mortgage, LLC 6 5.10% $20,876
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 4.46% $22,202
Century Mortgage Company DBA Century Lending Company 6 3.81% $17,453
PANORAMA MORTGAGE GROUP, LLC 5 5.05% $20,481
AMERIFIRST FINANCIAL CORPORATION 5 4.55% $29,953
CORNERSTONE HOME LENDING, INC. 5 5.55% $22,822
Loan Simple, Inc. 5 4.98% $21,838
KBHS HOME LOANS, LLC 5 5.10% $32,635
MUFG Union Bank 5 3.65% $13,914
NETWORK CAPITAL FUNDING CORPORATION 4 4.72% $17,360
San Diego Funding 4 4.41% $25,186
The Federal Savings Bank 4 5.16% $21,103
DHI MORTGAGE COMPANY, LTD. 4 3.56% $16,917
VILLAGE CAPITAL MORTGAGE 4 3.41% $6,620
ALLIED MORTGAGE GROUP, INC. 4 4.91% $17,410
AXIA FINANCIAL, LLC 4 4.06% $18,030
HOMEOWNERS FINANCIAL GROUP USA, LLC 4 4.47% $20,518
INTERCAP LENDING INC. 4 4.31% $16,981
LADERA LENDING, INC. 4 4.66% $15,748
MORIA DEVELOPMENT, INC. 4 4.91% $21,786
JMJ FINANCIAL GROUP 3 4.96% $24,262
AHL FUNDING 3 4.21% $25,769
HOMEAMERICAN MORTGAGE CORPORATION 3 3.38% $15,531
LOANPAL, LLC 3 3.46% $15,648
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 4.42% $19,038
First Guaranty Mortgage Corporation 3 4.00% $15,130
MORTGAGEONE, INC. 3 4.33% $23,658
ENVOY MORTGAGE, LTD 3 6.29% $24,614
U.S. Bank 3 4.29% $25,540
MUTUAL OF OMAHA MORTGAGE, INC. 3 3.71% $12,754
Commerce Home Mortgage, Inc. 3 3.46% $20,980
Plains Commerce Bank 3 4.37% $21,205
JPMorgan Chase Bank 3 4.00% $16,037
NP, Inc. 3 5.58% $36,672
AMERICAN FINANCIAL RESOURCES, INC. 2 4.56% $22,354
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 5.37% $17,541
HOMESIDE FINANCIAL, LLC 2 4.25% $15,656
Bank of America 2 3.88% $15,722
LENOX FINANCIAL MORTGAGE CORPORATION 2 4.25% $14,599
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 5.44% $20,896
Nations Lending Corporation 2 5.75% $19,491
VERITAS FUNDING, LLC 2 5.81% $19,668
FIRST NATIONS HOME FINANCE CORPORATION 2 4.38% $23,553
South Pacific Financial Corporation 2 4.13% $24,944
MK LENDING CORP. 2 5.81% $29,177
NFM, INC. 2 4.25% $23,659
ALAMEDA MORTGAGE CORPORATION 2 5.19% $20,255
Wyndham Capital Mortgage, Inc. 1 5.13% $27,846
Advisors Mortgage Group, L.L.C. 1 5.63% $18,139
AMCAP MORTGAGE, LTD. 1 5.63% $36,823
Amerifirst Financial, Inc. 1 3.13% $14,025
AmRes Corporation 1 4.50% $18,471
Bank of England 1 5.13% $16,080
BEST FINANCE CAPITAL, INC. 1 5.13% $21,886
CAPSTONE DIRECT, INC. 1 3.00% $14,354
CHURCHILL MORTGAGE CORPORATION 1 2.88% $9,874
DAS Acquisition Company, LLC 1 4.25% $17,290
DATA MORTGAGE, INC. 1 3.25% $24,624
DIGNIFIED HOME LOANS, LLC 1 5.00% $20,733
Franklin Loan Corporation 1 5.13% $22,389
GENEVA FINANCIAL, LLC 1 5.63% $25,714
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.63% $27,239
HOME APPROVALS DIRECT, INC. 1 5.25% $19,367
INLAND BANK & TRUST 1 5.75% $21,884
INSPIRE HOME LOANS INC. 1 3.50% $15,085
INTELLILOAN, INC. 1 3.13% $24,652
JMAC LENDING, INC. 1 5.25% $37,319
LAND HOME FINANCIAL SERVICES, INC. 1 6.25% $28,327
LENDING 3, INC. 1 6.75% $30,381
MICHIGAN MUTUAL, INC. 1 5.75% $17,196
Mortgage Research Center, LLC 1 5.63% $18,544
M&T Bank 1 3.13% $7,714
NATIONS RELIABLE LENDING, LLC 1 4.75% $21,245
NBKC BANK 1 5.13% $14,430
Neighborhood Loans, Inc. 1 4.75% $17,703
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 3.50% $17,073
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.75% $21,520
Prime Choice Funding Inc. 1 3.13% $10,760
Prosperity Home Mortgage, LLC 1 4.75% $26,149
Residential Mortgage Solutions, Inc. 1 5.75% $18,984
SOVEREIGN LENDING GROUP INCORPORATED 1 4.75% $16,460
Strong Home Mortgage, LLC 1 3.13% $10,741
TJC Mortgage, Inc. 1 3.00% $14,570
TOP FLITE FINANCIAL, INC. 1 5.63% $40,671
UNITED MORTGAGE CORP. 1 5.25% $44,912
VISION ONE MORTGAGE, INC. 1 5.50% $15,360
WALL FINANCIAL, INC. 1 5.13% $23,787
Wallick & Volk, Inc. 1 3.00% $12,822
Wells Fargo Bank 1 6.13% $14,525
Willamette Valley Bank 1 5.75% $18,208
ACADEMY MORTGAGE CORPORATION 1 5.13% $18,696

The top San Diego FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 492 FHA loans originated. Their average total fees are $20,372, which is $1,794 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee San Diego FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($4,253), NOVA FINANCIAL & INVESTMENT CORPORATION ($9,190), CHERRY CREEK MORTGAGE, LLC ($11,264), LAKEVIEW LOAN SERVICING, LLC ($11,353) and HOME POINT FINANCIAL CORPORATION ($16,310).

The lowest rate San Diego FHA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC (3.55%), LAKEVIEW LOAN SERVICING, LLC (3.71%), CHERRY CREEK MORTGAGE, LLC (3.81%), HOME POINT FINANCIAL CORPORATION (3.82%) and MID AMERICA MORTGAGE, INC. (3.91%).

San Diego FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
SAN DIEGO-CHULA VISTA-CARLSBAD, CA SAN DIEGO 2022 $879,750 $1,126,250 $1,361,350 $1,691,850
SAN DIEGO-CHULA VISTA-CARLSBAD, CA SAN DIEGO 2023 $977,500 $1,251,400 $1,512,650 $1,879,850

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - San Diego (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 $679,450 (5.0%) $1,222,393 (0.5%) 2.52 4,269
2018-02-01 $693,299 (3.9%) $1,240,565 (-1.5%) 2.52 4,506
2018-03-01 $699,000 (3.2%) $1,243,847 (-0.9%) 2.45 4,932
2018-04-01 $699,900 (0.1%) $1,226,489 (-3.8%) 2.37 5,569
2018-05-01 $704,337 (0.6%) $1,226,065 (-3.9%) 2.35 5,987
2018-06-01 $710,000 (1.4%) $1,213,368 (-3.0%) 2.37 6,377
2018-07-01 $699,000 (0.0%) $1,184,991 (-4.5%) 2.33 6,978
2018-08-01 $684,500 (-0.7%) $1,161,104 (-4.9%) 2.29 7,490
2018-09-01 $675,990 (-0.4%) $1,113,534 (-7.9%) 2.27 7,777
2018-10-01 $669,000 (-0.8%) $1,088,623 (-9.4%) 2.27 7,879
2018-11-01 $659,950 (-0.8%) $1,076,657 (-11.2%) 2.24 7,805
2018-12-01 $659,000 (-3.0%) $1,087,930 (-13.0%) 2.27 6,539
2019-01-01 $659,500 (-2.9%) $1,085,113 (-11.2%) 2.28 6,330
2019-02-01 $669,200 (-3.5%) $1,108,895 (-10.6%) 2.26 6,366
2019-03-01 $689,000 (-1.4%) $1,181,930 (-5.0%) 2.30 6,348
2019-04-01 $700,225 (0.1%) $1,175,833 (-4.1%) 2.22 6,406
2019-05-01 $717,000 (1.8%) $1,166,267 (-4.9%) 2.24 6,801
2019-06-01 $720,000 (1.4%) $1,210,819 (-0.2%) 2.25 6,899
2019-07-01 $712,250 (1.9%) $1,192,899 (0.7%) 2.23 7,001
2019-08-01 $739,900 (8.1%) $1,227,803 (5.7%) 2.32 6,799
2019-09-01 $754,450 (11.6%) $1,299,275 (16.7%) 2.38 5,496
2019-10-01 $714,500 (6.8%) $1,223,264 (12.4%) 2.31 6,343
2019-11-01 $714,990 (8.3%) $1,277,014 (18.6%) 2.34 5,658
2019-12-01 $717,424 (8.9%) $1,258,438 (15.7%) 2.39 4,704
2020-01-01 $711,725 (7.9%) $1,259,665 (16.1%) 2.38 4,219
2020-02-01 $725,000 (8.3%) $1,286,364 (16.0%) 2.37 4,080
2020-03-01 $749,000 (8.7%) $1,283,581 (8.6%) 2.35 4,290
2020-04-01 $725,000 (3.5%) $1,245,128 (5.9%) 2.27 4,665
2020-05-01 $749,000 (4.5%) $1,236,262 (6.0%) 2.28 4,811
2020-06-01 $767,000 (6.5%) $1,354,142 (11.8%) 2.26 4,392
2020-07-01 $789,500 (10.9%) $1,342,557 (12.6%) 2.29 4,086
2020-08-01 $784,500 (6.0%) $1,399,008 (13.9%) 2.25 3,882
2020-09-01 $775,000 (2.7%) $1,412,016 (8.7%) 2.22 3,842
2020-10-01 $775,000 (8.5%) $1,435,239 (17.3%) 2.22 3,808
2020-11-01 $762,000 (6.6%) $1,448,090 (13.4%) 2.23 3,441
2020-12-01 $768,375 (7.1%) $1,499,059 (19.1%) 2.29 2,787
2021-01-01 $775,000 (8.9%) $1,632,753 (29.6%) 2.31 2,357
2021-02-01 $784,000 (8.1%) $1,617,404 (25.7%) 2.28 2,192
2021-03-01 $786,950 (5.1%) $1,564,283 (21.9%) 2.23 2,197
2021-04-01 $799,450 (10.3%) $1,616,643 (29.8%) 2.16 2,270
2021-05-01 $799,000 (6.7%) $1,560,459 (26.2%) 2.12 2,548
2021-06-01 $809,950 (5.6%) $1,524,122 (12.6%) 2.13 2,854
2021-07-01 $819,000 (3.7%) $1,486,353 (10.7%) 2.16 3,130
2021-08-01 $820,575 (4.6%) $1,478,483 (5.7%) 2.19 3,099
2021-09-01 $802,500 (3.6%) $1,499,521 (6.2%) 2.14 2,865
2021-10-01 $825,000 (6.5%) $1,560,033 (8.7%) 2.20 2,553
2021-11-01 $834,225 (9.5%) $1,583,779 (9.4%) 2.23 2,111
2021-12-01 $822,750 (7.1%) $1,660,023 (10.7%) 2.23 1,619
2022-01-01 $848,500 (9.5%) $1,795,695 (10.0%) 2.29 1,464
2022-02-01 $850,000 (8.4%) $1,781,772 (10.2%) 2.21 1,484
2022-03-01 $881,500 (12.0%) $1,740,205 (11.3%) 2.21 1,656
2022-04-01 $900,000 (12.6%) $1,709,012 (5.7%) 2.15 1,926
2022-05-01 $925,625 (15.9%) $1,587,778 (1.8%) 2.12 2,779
2022-06-01 $949,000 (17.2%) $1,530,673 (0.4%) 2.11 3,571
2022-07-01 $899,995 (9.9%) $1,480,538 (-0.4%) 2.03 4,559
2022-08-01 $897,000 (9.3%) $1,476,167 (-0.2%) 2.07 4,492
2022-09-01 $889,000 (10.8%) $1,470,693 (-1.9%) 2.08 4,153
2022-10-01 $891,423 (8.1%) $1,450,607 (-7.0%) 2.10 4,136
2022-11-01 $884,500 (6.0%) $1,442,825 (-8.9%) 2.12 3,983
2022-12-01 $899,000 (9.3%) $1,486,486 (-10.5%) 2.22 3,158
2023-01-01 $907,400 (6.9%) $1,568,737 (-12.6%) 2.25 2,597
2023-02-01 $932,450 (9.7%) $1,642,029 (-7.8%) 2.25 2,287
2023-03-01 $949,500 (7.7%) $1,706,333 (-2.0%) 2.24 2,064
2023-04-01 $999,970 (11.1%) $1,883,665 (10.2%) 2.33 1,948
San Diego's median listing price for 2023-04-01 was $999,970, a difference of $99,970 (11.1%) versus the prior year and $50,470 versus the prior month.

San Diego's median listing price comes in at 233% of the national average.

San Diego's average listing price for 2023-04-01 was $1,883,665, a difference of $174,653 (10.2%) versus the prior year and $177,332 versus the prior month.

For the 2023-04-01 period, San Diego had 1,948 MLS listings, a difference of -116 listings (-6%) versus the prior month and 22 listings (1%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - San Diego (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 40 days 1,843 sqft
2018-02-01 29 days 1,853 sqft
2018-03-01 29 days 1,884 sqft
2018-04-01 29 days 1,904 sqft
2018-05-01 29 days 1,913 sqft
2018-06-01 30 days 1,908 sqft
2018-07-01 32 days 1,858 sqft
2018-08-01 31 days 1,815 sqft
2018-09-01 36 days 1,800 sqft
2018-10-01 36 days 1,790 sqft
2018-11-01 39 days 1,779 sqft
2018-12-01 49 days 1,786 sqft
2019-01-01 46 days 1,761 sqft
2019-02-01 33 days 1,777 sqft
2019-03-01 36 days 1,822 sqft
2019-04-01 33 days 1,858 sqft
2019-05-01 32 days 1,874 sqft
2019-06-01 41 days 1,881 sqft
2019-07-01 42 days 1,871 sqft
2019-08-01 50 days 1,926 sqft
2019-09-01 54 days 1,958 sqft
2019-10-01 45 days 1,836 sqft
2019-11-01 47 days 1,824 sqft
2019-12-01 59 days 1,797 sqft
2020-01-01 56 days 1,781 sqft
2020-02-01 40 days 1,800 sqft
2020-03-01 40 days 1,806 sqft
2020-04-01 44 days 1,754 sqft
2020-05-01 48 days 1,784 sqft
2020-06-01 43 days 1,786 sqft
2020-07-01 44 days 1,789 sqft
2020-08-01 38 days 1,728 sqft
2020-09-01 39 days 1,695 sqft
2020-10-01 43 days 1,696 sqft
2020-11-01 48 days 1,679 sqft
2020-12-01 59 days 1,686 sqft
2021-01-01 54 days 1,671 sqft
2021-02-01 38 days 1,672 sqft
2021-03-01 36 days 1,659 sqft
2021-04-01 33 days 1,687 sqft
2021-05-01 28 days 1,664 sqft
2021-06-01 28 days 1,666 sqft
2021-07-01 29 days 1,670 sqft
2021-08-01 30 days 1,684 sqft
2021-09-01 33 days 1,674 sqft
2021-10-01 34 days 1,674 sqft
2021-11-01 38 days 1,677 sqft
2021-12-01 46 days 1,654 sqft
2022-01-01 41 days 1,637 sqft
2022-02-01 27 days 1,633 sqft
2022-03-01 25 days 1,679 sqft
2022-04-01 23 days 1,713 sqft
2022-05-01 23 days 1,706 sqft
2022-06-01 25 days 1,730 sqft
2022-07-01 30 days 1,698 sqft
2022-08-01 36 days 1,680 sqft
2022-09-01 40 days 1,673 sqft
2022-10-01 40 days 1,679 sqft
2022-11-01 44 days 1,687 sqft
2022-12-01 54 days 1,698 sqft
2023-01-01 54 days 1,690 sqft
2023-02-01 38 days 1,682 sqft
2023-03-01 37 days 1,732 sqft
2023-04-01 34 days 1,801 sqft
San Diego's median listing age (time on market) for 2023-04-01 was 34 days. This is 48% longer than the same period one year ago.

San Diego's median square footage for active listings during the 2023-04-01 period was 1,801 sqft. One year prior, the average listing was 1,713 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).