Savannah FHA Loan Rates, Closing Costs & Stats

SAVANNAH, GA

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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.

    Savannah's 149 lenders originated 2,405 FHA loans during 2021. The total origination value was $562,045,000, with an average FHA loan value of $233,699.

    Savannah FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Savannah averaged 0.06% for the week of 2023-01-20, compared to the national average (all FHA variants) of 0% for the same period.

    Savannah's average FHA mortgage closing costs are $6,985.

    The average rate for the prior week (2023-01-13) was 6.19% and one month ago for the week of 2022-12-16, the average rate was 6.28%.

    The average rate one year ago was 3.57%.

    For refis of the same type during the week of 2023-01-20, the average rate was -0.2%.

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

    Savannah 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 Savannah level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    QUICKEN LOANS, LLC 227 2.75% $5,880
    BROKER SOLUTIONS, INC. 173 3.31% $8,459
    GUILD MORTGAGE COMPANY 130 3.16% $8,457
    BANKSOUTH MORTGAGE COMPANY, LLC 121 2.74% $8,404
    MOVEMENT MORTGAGE, LLC 90 3.26% $7,676
    DHI MORTGAGE COMPANY, LTD. 72 2.81% $7,078
    PENNYMAC LOAN SERVICES, LLC 71 3.01% $4,858
    LAKEVIEW LOAN SERVICING, LLC 66 3.08% $4,365
    LOANDEPOT.COM, LLC 64 3.23% $9,141
    CERTAINTY HOME LOANS, LLC 59 2.91% $7,432
    HOMESTAR FINANCIAL CORPORATION 55 2.95% $6,401
    SOUTHPOINT FINANCIAL SERVICES, INC. 55 3.44% $8,350
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 52 3.17% $9,626
    FREEDOM MORTGAGE CORPORATION 45 2.94% $4,339
    ANGEL OAK HOME LOANS LLC 43 3.05% $8,288
    Carrington Mortgage Services, LLC 36 3.40% $8,499
    Mr. Cooper ( Nationstar Mortgage ) 35 3.37% $3,982
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 34 3.08% $6,712
    DRAPER AND KRAMER MORTGAGE CORP. 31 2.89% $7,660
    Mortgage Research Center, LLC 28 2.84% $5,986
    Renasant Bank 24 2.93% $7,260
    STOCKTON MORTGAGE CORPORATION 22 2.68% $8,685
    GUARANTEED RATE, INC. 22 3.04% $7,850
    VANDERBILT MORTGAGE AND FINANCE, INC. 21 3.01% $8,245
    SWBC MORTGAGE CORPORATION 18 3.25% $6,661
    UNITED WHOLESALE MORTGAGE, LLC 18 2.81% $7,860
    Ameris Bank 17 2.93% $7,801
    VILLAGE CAPITAL MORTGAGE 17 2.87% $2,313
    South State Bank 16 2.79% $7,480
    HOMEBRIDGE FINANCIAL SERVICES, INC. 16 2.87% $7,592
    Colony Bank 16 3.02% $7,445
    LENDUS, LLC 15 3.26% $8,009
    NEWREZ LLC 15 3.01% $5,202
    Lakeview Community Capital, LLC 15 2.99% $4,663
    Plains Commerce Bank 14 2.68% $8,143
    HOMESPIRE MORTGAGE CORPORATION 14 2.94% $7,936
    CALIBER HOME LOANS, INC. 14 2.91% $5,514
    JET HOMELOANS, LLC 14 3.31% $8,563
    Flagstar Bank, FSB 12 2.64% $6,694
    AMERISAVE MORTGAGE CORPORATION 12 3.00% $7,237
    AMERICAN FINANCIAL NETWORK, INC. 12 3.22% $13,412
    CROSSCOUNTRY MORTGAGE, LLC 11 3.06% $10,015
    The Federal Savings Bank 10 2.78% $7,366
    Truist 9 2.86% $7,234
    ACADEMY MORTGAGE CORPORATION 9 3.19% $8,012
    TOWNE MORTGAGE COMPANY 8 3.00% $8,415
    Bank of America 8 2.89% $4,354
    Paramount Residential Mortgage Group, Inc. 8 3.41% $9,664
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 3.39% $7,228
    HOMESIDE FINANCIAL, LLC 8 3.38% $7,934
    PLANET HOME LENDING, LLC 7 2.96% $7,015
    Platinum Home Mortgage Corporation 7 3.18% $10,498
    AmeriHome Mortgage Company, LLC 7 2.70% $4,802
    GUARANTY HOME MORTGAGE CORPORATION 7 2.82% $5,812
    First Guaranty Mortgage Corporation 6 3.10% $5,837
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 3.38% $10,575
    Magnolia Bank 6 3.06% $7,000
    HOME POINT FINANCIAL CORPORATION 6 2.60% $7,304
    STEARNS LENDING, LLC 6 2.92% $8,605
    Capital City Home Loans, LLC 6 3.02% $6,955
    Synovus Bank 5 2.68% $7,765
    INTERLINC MORTGAGE SERVICES, LLC 5 2.85% $8,155
    Nations Lending Corporation 5 3.15% $10,616
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 3.60% $9,598
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 5 2.95% $10,373
    Commerce Home Mortgage, Inc. 4 2.81% $6,331
    Equity Prime Mortgage LLC 4 3.06% $8,687
    InterContinental Capital Group, Inc 4 2.84% $7,922
    CHURCHILL MORTGAGE CORPORATION 4 3.22% $6,944
    Mortgage Network, Inc. 4 2.91% $7,832
    AMERICAN FINANCING CORPORATION 4 2.78% $5,397
    Regions Bank 4 2.72% $7,525
    United Community Bank 4 3.22% $7,664
    CONTOUR MORTGAGE CORPORATION 3 3.33% $7,354
    First Federal Bank 3 3.04% $7,308
    First Option Mortgage, LLC 3 2.88% $10,120
    Gateway First Bank 3 3.29% $6,843
    GENEVA FINANCIAL, LLC 3 3.08% $7,457
    GUARANTEED RATE AFFINITY, LLC 3 3.42% $6,339
    MID AMERICA MORTGAGE, INC. 3 3.33% $4,295
    MUTUAL OF OMAHA MORTGAGE, INC. 3 2.96% $6,955
    NATIONS DIRECT MORTGAGE, LLC 3 2.96% $9,570
    PANORAMA MORTGAGE GROUP, LLC 3 3.42% $9,317
    Queensborough National Bank & Trust Company 3 2.21% $3,505
    RELIANCE FIRST CAPITAL, LLC 3 3.08% $8,639
    TJC Mortgage, Inc. 3 3.08% $7,712
    TOP FLITE FINANCIAL, INC. 3 3.58% $12,931
    MILEND, INC. 2 2.56% $8,548
    Hometown Equity Mortgage, LLC 2 4.38% $6,390
    FIRST COMMUNITY MORTGAGE, INC. 2 3.25% $7,859
    FBC MORTGAGE, LLC 2 3.00% $5,605
    Northpointe Bank 2 2.94% $9,321
    NP, Inc. 2 3.00% $6,222
    OCMBC, INC. 2 2.81% $5,587
    ACOPIA, LLC 2 2.81% $8,843
    CREDIT UNION FINANCIAL SERVICES, LLC 2 3.44% $2,776
    PLAZA HOME MORTGAGE, INC. 2 3.44% $7,154
    Colten Mortgage, LLC 2 3.13% $4,383
    CMG MORTGAGE, INC. 2 3.38% $11,222
    CIS Financial Services, Inc. 2 3.63% $10,059
    BAY EQUITY LLC 2 2.94% $9,806
    ZILLOW HOME LOANS, LLC 2 3.25% $7,000
    KELLER MORTGAGE, LLC 2 2.63% $6,200
    LIBERTY HOME MORTGAGE CORPORATION 2 3.13% $10,175
    JPMorgan Chase Bank 2 3.00% $6,915
    MEGASTAR FINANCIAL CORP. 2 2.88% $10,114
    FAY SERVICING, LLC 1 3.00% $5,212
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 2.88% $13,296
    Peoples Bank 1 2.50% $13,200
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 3.63% $13,869
    DAS Acquisition Company, LLC 1 4.75% $6,096
    AMERIFIRST FINANCIAL CORPORATION 1 3.50% $8,268
    UNION HOME MORTGAGE CORP. 1 3.38% $6,631
    PLUS RELOCATION MORTGAGE, LLC 1 2.50% $12,371
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.50% $8,187
    Credence Funding Corporation 1 2.38% $4,875
    PULTE MORTGAGE LLC 1 3.25% $6,677
    Wells Fargo Bank 1 3.25% $8,699
    American Security Mortgage Corp. 1 2.63% $6,040
    INTELLILOAN, INC. 1 2.50% $6,186
    Wolfe Financial, Inc 1 3.00% $8,145
    Level One Bank 1 2.88% $5,879
    RUOFF MORTGAGE COMPANY, INC. 1 3.38% $6,555
    SECURITYNATIONAL MORTGAGE COMPANY 1 3.88% $8,743
    Sierra Pacific Mortgage Company, Inc. 1 2.75% $8,170
    CELEBRITY HOME LOANS, LLC 1 4.25% $14,740
    CALCON MUTUAL MORTGAGE LLC 1 3.75% $11,098
    SOUTHWEST STAGE FUNDING, LLC 1 4.25% $4,973
    Blue Ridge Bank 1 3.13% $8,372
    Stifel Bank and Trust 1 2.50% $5,057
    BELEM SERVICING LLC 1 3.50% $7,561
    MORIA DEVELOPMENT, INC. 1 3.63% $8,172
    SUMMIT FUNDING, INC. 1 3.75% $6,278
    GoPrime Mortgage, Inc. 1 2.25% $11,248
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.00% $8,831
    George Mason Mortgage, LLC 1 3.13% $7,656
    First Horizon Bank 1 2.25% $8,523
    AMERICAN FINANCIAL RESOURCES, INC. 1 2.25% $6,566
    Alcova Mortgage LLC 1 3.25% $5,420
    UNITED SECURITY FINANCIAL CORP 1 2.50% $4,670
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.00% $10,452
    NBH Bank 1 3.00% $8,224
    Barrington Bank & Trust Company, N.A. 1 2.75% $9,491
    Austin Capital Bank SSB 1 2.75% $7,882
    Wyndham Capital Mortgage, Inc. 1 3.13% $5,962
    OCEANSIDE MORTGAGE COMPANY 1 2.75% $3,904
    MEMBER FIRST MORTGAGE, LLC 1 3.13% $6,178
    OVM FINANCIAL, INC. 1 3.88% $9,623
    Atlantic Coast Mortgage, LLC 1 3.25% $11,249

    The top Savannah FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 227 FHA loans originated. Their average total fees are $5,880, which is $2,578 lower than the next largest lender, BROKER SOLUTIONS, INC..

    The lowest fee Savannah FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,313), Mr. Cooper ( Nationstar Mortgage ) ($3,982), FREEDOM MORTGAGE CORPORATION ($4,339), LAKEVIEW LOAN SERVICING, LLC ($4,365) and Lakeview Community Capital, LLC ($4,663).

    The lowest rate Savannah FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB (2.64%), STOCKTON MORTGAGE CORPORATION (2.68%), Plains Commerce Bank (2.68%), BANKSOUTH MORTGAGE COMPANY, LLC (2.74%) and QUICKEN LOANS, LLC (2.75%).

    Savannah FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SAVANNAH, GA BRYAN 2022 $420,680 $538,650 $651,050 $809,150
    SAVANNAH, GA CHATHAM 2022 $420,680 $538,650 $651,050 $809,150
    SAVANNAH, GA EFFINGHAM 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Savannah (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 $266,650 (6.9%) $384,285 (12.1%) 0.99 2,367
    2018-02-01 $274,623 (6.7%) $387,819 (9.6%) 1.00 2,425
    2018-03-01 $279,000 (6.3%) $388,826 (7.6%) 0.98 2,526
    2018-04-01 $279,561 (5.5%) $388,248 (5.9%) 0.95 2,542
    2018-05-01 $279,900 (5.6%) $388,548 (6.0%) 0.93 2,563
    2018-06-01 $279,000 (4.3%) $381,338 (2.9%) 0.93 2,591
    2018-07-01 $279,900 (5.2%) $384,867 (3.2%) 0.93 2,529
    2018-08-01 $275,071 (4.6%) $382,995 (4.0%) 0.92 2,467
    2018-09-01 $279,250 (5.4%) $389,745 (5.5%) 0.94 2,417
    2018-10-01 $279,500 (7.3%) $393,775 (6.1%) 0.94 2,445
    2018-11-01 $279,000 (5.3%) $392,032 (4.1%) 0.95 2,543
    2018-12-01 $278,000 (4.9%) $395,515 (4.3%) 0.96 2,501
    2019-01-01 $278,350 (4.4%) $402,206 (4.7%) 0.96 2,428
    2019-02-01 $283,660 (3.3%) $410,363 (5.8%) 0.96 2,413
    2019-03-01 $288,186 (3.3%) $417,272 (7.3%) 0.94 2,435
    2019-04-01 $291,445 (4.3%) $419,960 (8.2%) 0.93 2,488
    2019-05-01 $289,950 (3.6%) $419,471 (8.0%) 0.91 2,486
    2019-06-01 $289,950 (3.9%) $421,530 (10.5%) 0.91 2,446
    2019-07-01 $290,250 (3.7%) $418,078 (8.6%) 0.91 2,441
    2019-08-01 $291,700 (6.1%) $415,955 (8.6%) 0.92 2,440
    2019-09-01 $293,500 (5.1%) $414,083 (6.2%) 0.94 2,452
    2019-10-01 $294,700 (5.4%) $412,835 (4.8%) 0.95 2,449
    2019-11-01 $293,953 (5.4%) $413,815 (5.6%) 0.96 2,359
    2019-12-01 $295,525 (6.3%) $422,253 (6.8%) 0.99 2,331
    2020-01-01 $297,410 (6.9%) $423,875 (5.4%) 0.99 2,198
    2020-02-01 $299,900 (5.7%) $430,543 (4.9%) 0.98 2,214
    2020-03-01 $304,319 (5.6%) $435,321 (4.3%) 0.95 2,185
    2020-04-01 $300,258 (3.0%) $429,980 (2.4%) 0.94 2,218
    2020-05-01 $309,000 (6.6%) $437,046 (4.2%) 0.94 2,123
    2020-06-01 $318,225 (9.8%) $445,586 (5.7%) 0.94 1,969
    2020-07-01 $322,174 (11.0%) $450,853 (7.8%) 0.93 1,853
    2020-08-01 $322,370 (10.5%) $457,349 (10.0%) 0.92 1,707
    2020-09-01 $325,000 (10.7%) $472,364 (14.1%) 0.93 1,621
    2020-10-01 $318,549 (8.1%) $468,766 (13.6%) 0.91 1,567
    2020-11-01 $303,945 (3.4%) $455,482 (10.1%) 0.89 1,540
    2020-12-01 $300,000 (1.5%) $452,227 (7.1%) 0.89 1,417
    2021-01-01 $304,999 (2.6%) $464,063 (9.5%) 0.91 1,207
    2021-02-01 $306,778 (2.3%) $481,707 (11.9%) 0.89 1,012
    2021-03-01 $312,000 (2.5%) $500,421 (15.0%) 0.89 835
    2021-04-01 $319,020 (6.3%) $495,764 (15.3%) 0.86 762
    2021-05-01 $320,756 (3.8%) $515,759 (18.0%) 0.85 740
    2021-06-01 $322,418 (1.3%) $525,419 (17.9%) 0.85 729
    2021-07-01 $329,000 (2.1%) $522,471 (15.9%) 0.87 795
    2021-08-01 $329,500 (2.2%) $525,375 (14.9%) 0.88 780
    2021-09-01 $328,950 (1.2%) $536,713 (13.6%) 0.88 773
    2021-10-01 $339,574 (6.6%) $545,019 (16.3%) 0.91 739
    2021-11-01 $337,500 (11.0%) $542,227 (19.0%) 0.90 658
    2021-12-01 $348,934 (16.3%) $560,989 (24.1%) 0.95 607
    2022-01-01 $348,995 (14.4%) $575,248 (24.0%) 0.94 496
    2022-02-01 $370,450 (20.8%) $615,726 (27.8%) 0.96 424
    2022-03-01 $382,425 (22.6%) $627,767 (25.5%) 0.96 440
    2022-04-01 $393,495 (23.4%) $637,716 (28.6%) 0.94 457
    2022-05-01 $394,150 (22.9%) $609,171 (18.1%) 0.90 607
    2022-06-01 $399,900 (24.0%) $606,135 (15.4%) 0.89 699
    2022-07-01 $404,110 (22.8%) $610,303 (16.8%) 0.91 837
    2022-08-01 $399,000 (21.1%) $589,471 (12.2%) 0.92 943
    2022-09-01 $399,898 (21.6%) $600,563 (11.9%) 0.94 956
    2022-10-01 $399,990 (17.8%) $605,611 (11.1%) 0.94 1,005
    2022-11-01 $399,421 (18.4%) $594,366 (9.6%) 0.96 1,049
    2022-12-01 $399,900 (14.6%) $594,012 (5.9%) 1.00 1,011
    Savannah's median listing price for 2022-12-01 was $399,900, a difference of $50,966 (14.6%) versus the prior year and $479 versus the prior month.

    Savannah's median listing price comes in at 100% of the national average.

    Savannah's average listing price for 2022-12-01 was $594,012, a difference of $33,023 (5.9%) versus the prior year and $-354 versus the prior month.

    For the 2022-12-01 period, Savannah had 1,011 MLS listings, a difference of -38 listings (-4%) versus the prior month and 404 listings (67%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Savannah (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 100 days 2,173 sqft
    2018-02-01 93 days 2,201 sqft
    2018-03-01 71 days 2,248 sqft
    2018-04-01 71 days 2,265 sqft
    2018-05-01 72 days 2,239 sqft
    2018-06-01 75 days 2,223 sqft
    2018-07-01 79 days 2,227 sqft
    2018-08-01 84 days 2,192 sqft
    2018-09-01 86 days 2,210 sqft
    2018-10-01 85 days 2,200 sqft
    2018-11-01 84 days 2,201 sqft
    2018-12-01 89 days 2,202 sqft
    2019-01-01 96 days 2,200 sqft
    2019-02-01 100 days 2,211 sqft
    2019-03-01 88 days 2,238 sqft
    2019-04-01 72 days 2,262 sqft
    2019-05-01 71 days 2,279 sqft
    2019-06-01 73 days 2,294 sqft
    2019-07-01 75 days 2,292 sqft
    2019-08-01 80 days 2,289 sqft
    2019-09-01 82 days 2,289 sqft
    2019-10-01 85 days 2,285 sqft
    2019-11-01 89 days 2,271 sqft
    2019-12-01 95 days 2,244 sqft
    2020-01-01 102 days 2,243 sqft
    2020-02-01 96 days 2,250 sqft
    2020-03-01 78 days 2,292 sqft
    2020-04-01 81 days 2,289 sqft
    2020-05-01 85 days 2,296 sqft
    2020-06-01 87 days 2,295 sqft
    2020-07-01 79 days 2,344 sqft
    2020-08-01 71 days 2,310 sqft
    2020-09-01 71 days 2,269 sqft
    2020-10-01 72 days 2,202 sqft
    2020-11-01 71 days 2,146 sqft
    2020-12-01 75 days 2,100 sqft
    2021-01-01 80 days 2,094 sqft
    2021-02-01 65 days 2,051 sqft
    2021-03-01 48 days 2,030 sqft
    2021-04-01 45 days 2,049 sqft
    2021-05-01 37 days 2,097 sqft
    2021-06-01 39 days 2,030 sqft
    2021-07-01 37 days 2,090 sqft
    2021-08-01 42 days 1,990 sqft
    2021-09-01 46 days 2,010 sqft
    2021-10-01 51 days 2,032 sqft
    2021-11-01 57 days 2,044 sqft
    2021-12-01 59 days 2,046 sqft
    2022-01-01 63 days 2,029 sqft
    2022-02-01 32 days 2,071 sqft
    2022-03-01 28 days 2,099 sqft
    2022-04-01 27 days 2,150 sqft
    2022-05-01 21 days 2,119 sqft
    2022-06-01 26 days 2,207 sqft
    2022-07-01 31 days 2,160 sqft
    2022-08-01 38 days 2,155 sqft
    2022-09-01 44 days 2,147 sqft
    2022-10-01 50 days 2,120 sqft
    2022-11-01 50 days 2,155 sqft
    2022-12-01 60 days 2,114 sqft
    Savannah's median listing age (time on market) for 2022-12-01 was 60 days. This is 3% longer than the same period one year ago.

    Savannah's median square footage for active listings during the 2022-12-01 period was 2,114 sqft. One year prior, the average listing was 2,046 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).