Scranton FHA Loan Rates, Closing Costs & Stats

SCRANTON--WILKES-BARRE, 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.

Scranton's 113 lenders originated 1,353 FHA loans during 2023. The total origination value was $241,945,000, with an average FHA loan value of $178,821.

Scranton FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Scranton averaged 6.26% for the week of 2024-10-11, compared to the national average (all FHA variants) of 6.1% for the same period.

Scranton's average FHA mortgage closing costs are $6,793.

The average rate for the prior week (2024-10-04) was 6.28% and one month ago for the week of 2024-09-06, the average rate was 6%.

The average rate one year ago was 7.23%.

For refis of the same type during the week of 2024-10-11, the average rate was 6.86%.

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

Scranton 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 Scranton level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 231 6.37% $9,081
Century Mortgage Company DBA Century Lending Company 106 6.50% $9,701
GUILD MORTGAGE COMPANY 99 6.51% $9,613
ARK-LA-TEX FINANCIAL SERVICES, LLC. 62 6.93% $8,940
CROSSCOUNTRY MORTGAGE, LLC 59 6.92% $10,638
UNITED WHOLESALE MORTGAGE, LLC 57 6.61% $9,729
Ixonia Bank 31 6.91% $9,976
SWBC MORTGAGE CORPORATION 31 6.83% $5,084
FREEDOM MORTGAGE CORPORATION 27 6.80% $11,341
Alcova Mortgage LLC 26 6.84% $6,897
PENNYMAC LOAN SERVICES, LLC 26 6.18% $9,056
AMERISAVE MORTGAGE CORPORATION 25 6.10% $12,525
NEWREZ LLC 23 6.61% $8,281
CARDINAL FINANCIAL 22 6.46% $9,783
M&T Bank 21 6.27% $8,874
Citizens Bank 20 6.51% $9,461
LOANDEPOT.COM, LLC 19 6.54% $9,880
BROKER SOLUTIONS, INC. 16 6.57% $10,046
Mr. Cooper ( Nationstar Mortgage ) 16 6.28% $11,292
NATIONWIDE MORTGAGE BANKERS, INC. 14 6.89% $12,350
Flagstar Bank, FSB 12 6.72% $9,691
ABSOLUTE HOME MORTGAGE CORPORATION 12 6.63% $8,662
AMERICAN FINANCIAL NETWORK, INC. 12 6.98% $11,901
MUTUAL OF OMAHA MORTGAGE, INC. 11 6.95% $11,645
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.76% $7,455
MOVEMENT MORTGAGE, LLC 10 6.59% $9,882
ALLIED MORTGAGE GROUP, INC. 7 6.61% $12,563
Mortgage Research Center, LLC 7 7.10% $5,792
PNC Bank 7 6.93% $7,382
Carrington Mortgage Services, LLC 7 6.32% $11,931
CMG MORTGAGE, INC. 7 7.02% $10,579
ZILLOW HOME LOANS, LLC 6 6.35% $10,087
FIRST MORTGAGE COMPANY, INC. 6 6.44% $11,725
Plains Commerce Bank 6 6.31% $8,931
MEMBER FIRST MORTGAGE, LLC 6 6.96% $9,208
LAKEVIEW LOAN SERVICING, LLC 5 6.45% $10,296
East Coast Capital Corp. 5 6.73% $11,785
NATION ONE MORTGAGE CORPORATION 5 6.70% $15,233
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.81% $8,014
NFM, INC. 4 6.72% $11,098
PENTAGON FEDERAL CREDIT UNION 4 5.31% $9,569
GUARANTEED RATE, INC. 4 6.66% $9,492
THRIVE MORTGAGE, LLC 4 6.88% $8,890
HOMESPIRE MORTGAGE CORPORATION 4 6.69% $5,039
PLANET HOME LENDING, LLC 3 6.75% $8,992
AMERICAN FINANCIAL RESOURCES, INC. 3 6.38% $10,599
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 6.67% $9,225
CALIBER HOME LOANS, INC. 3 5.75% $17,244
CLIFFCO, INC. 3 7.08% $12,586
Customers Bank 3 6.63% $7,808
EMM LOANS LLC 3 6.54% $14,630
Equity Prime Mortgage LLC 3 6.04% $8,432
EVERETT FINANCIAL, INC. 3 5.88% $13,833
FIRST HERITAGE FINANCIAL, LLC 3 6.17% $6,988
GENEVA FINANCIAL, LLC 3 7.04% $9,077
Hometown Equity Mortgage, LLC 3 7.00% $17,520
JPMorgan Chase Bank 3 7.17% $6,907
NBT Bank 3 6.54% $7,883
Northpointe Bank 3 6.83% $9,498
PLAZA HOME MORTGAGE, INC. 3 6.17% $16,993
RADIUS FINANCIAL GROUP INC. 3 7.25% $13,160
RELIANCE FIRST CAPITAL, LLC 3 6.58% $12,477
TOWNE MORTGAGE COMPANY 3 7.00% $8,964
UNION HOME MORTGAGE CORP. 3 6.54% $11,724
Wells Fargo Bank 3 5.92% $5,054
AMERICAN FINANCING CORPORATION 2 6.25% $11,520
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.19% $10,024
Prosperity Home Mortgage, LLC 2 6.37% $7,935
GSF Mortgage Corporation 2 5.88% $8,635
VILLAGE CAPITAL MORTGAGE 2 6.13% $4,762
TOP FLITE FINANCIAL, INC. 2 7.13% $13,854
Truist 2 6.25% $8,646
Nations Lending Corporation 2 5.56% $7,976
MICHIGAN MUTUAL, INC. 2 6.31% $13,424
ROYAL UNITED MORTGAGE LLC 2 7.19% $9,159
Paramount Residential Mortgage Group, Inc. 2 6.50% $10,276
SUCCESS MORTGAGE PARTNERS, INC. 2 6.81% $8,688
Summit Mortgage Corporation 2 7.19% $12,173
Firstrust Savings Bank 2 6.88% $7,042
Acre Mortgage and Financial Inc 1 7.00% $14,276
Bank of England 1 6.25% $7,879
Bank of America 1 5.00% $2,481
Quaint Oak Mortgage, LLC 1 7.25% $7,787
AmeriHome Mortgage Company, LLC 1 7.13% $9,402
Advisors Mortgage Group, L.L.C. 1 6.12% $8,800
Univest Bank and Trust Co. 1 7.00% $7,361
Servion, Inc. 1 7.50% $12,176
SUN WEST MORTGAGE COMPANY, INC. 1 6.00% $23,452
TD Bank 1 5.63% $8,449
The Federal Savings Bank 1 6.50% $11,027
The Honesdale National Bank 1 6.50% $7,208
AFFORDABLE MORTGAGE ADVISORS, LLC. 1 5.63% $8,490
LIBERTY HOME MORTGAGE CORPORATION 1 7.13% $12,047
Meridian Bank Corporation 1 6.63% $8,385
MID AMERICA MORTGAGE, INC. 1 7.63% $18,546
MLD MORTGAGE INC. 1 6.25% $8,374
Mortgage America, Inc. 1 7.25% $6,696
Lakeview Community Capital, LLC 1 7.25% $6,881
INTERSTATE HOME LOAN CENTER, INC. 1 6.25% $9,468
Keystone Funding, Inc. 1 6.13% $9,115
HOMESIDE FINANCIAL, LLC 1 6.50% $11,074
Flanagan State Bank 1 6.50% $11,130
NATIONS DIRECT MORTGAGE, LLC 1 7.25% $8,944
NBKC BANK 1 6.63% $6,414
NETWORK CAPITAL FUNDING CORPORATION 1 6.75% $8,981
FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.50% $8,520
EQUITY RESOURCES, INC. 1 6.38% $11,658
NJ LENDERS CORP. 1 6.75% $6,372
OCMBC, INC. 1 6.00% $17,914
EMBRACE HOME LOANS, INC. 1 6.25% $8,060
Colonial Savings, F.A. 1 6.25% $7,134
CALCON MUTUAL MORTGAGE LLC 1 6.25% $15,665
BAYSHORE MORTGAGE FUNDING, LLC 1 6.63% $7,244

The top Scranton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 231 FHA loans originated. Their average total fees are $9,081, which is $620 lower than the next largest lender, Century Mortgage Company DBA Century Lending Company.

The lowest fee Scranton FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($5,084), Alcova Mortgage LLC ($6,897), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,455), NEWREZ LLC ($8,281) and ABSOLUTE HOME MORTGAGE CORPORATION ($8,662).

The lowest rate Scranton FHA lenders (with over 10 loans originated) are AMERISAVE MORTGAGE CORPORATION (6.10%), PENNYMAC LOAN SERVICES, LLC (6.18%), M&T Bank (6.27%), Mr. Cooper ( Nationstar Mortgage ) (6.28%) and QUICKEN LOANS, LLC (6.37%).

Scranton FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
SCRANTON--WILKES-BARRE, PA LACKAWANNA 2022 $420,680 $538,650 $651,050 $809,150
SCRANTON--WILKES-BARRE, PA LUZERNE 2022 $420,680 $538,650 $651,050 $809,150
SCRANTON--WILKES-BARRE, PA WYOMING 2022 $420,680 $538,650 $651,050 $809,150
SCRANTON--WILKES-BARRE, PA LACKAWANNA 2023 $472,030 $604,400 $730,525 $907,900
SCRANTON--WILKES-BARRE, PA LUZERNE 2023 $472,030 $604,400 $730,525 $907,900
SCRANTON--WILKES-BARRE, PA WYOMING 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Scranton (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 $133,950 (4.9%) $179,445 (3.8%) 0.50 1,977
2018-02-01 $135,000 (5.1%) $181,319 (4.3%) 0.49 1,889
2018-03-01 $139,950 (4.8%) $187,644 (3.5%) 0.49 1,874
2018-04-01 $145,450 (4.0%) $192,148 (1.9%) 0.49 1,948
2018-05-01 $149,950 (5.4%) $199,890 (4.9%) 0.50 2,078
2018-06-01 $159,000 (9.4%) $204,537 (6.8%) 0.53 2,219
2018-07-01 $159,900 (7.5%) $207,041 (9.9%) 0.53 2,310
2018-08-01 $158,700 (11.2%) $205,376 (9.2%) 0.53 2,326
2018-09-01 $154,900 (8.3%) $200,383 (6.9%) 0.52 2,362
2018-10-01 $149,900 (4.8%) $198,466 (6.5%) 0.51 2,321
2018-11-01 $149,900 (7.2%) $194,492 (4.6%) 0.51 2,216
2018-12-01 $144,900 (5.2%) $189,050 (3.8%) 0.50 2,058
2019-01-01 $145,945 (9.0%) $189,661 (5.7%) 0.50 1,854
2019-02-01 $146,000 (8.2%) $192,122 (6.0%) 0.49 1,760
2019-03-01 $151,143 (8.0%) $195,505 (4.2%) 0.49 1,743
2019-04-01 $154,850 (6.5%) $200,180 (4.2%) 0.49 1,771
2019-05-01 $159,900 (6.6%) $207,287 (3.7%) 0.50 1,855
2019-06-01 $160,000 (0.6%) $209,885 (2.6%) 0.50 1,972
2019-07-01 $159,950 (0.0%) $210,785 (1.8%) 0.50 2,076
2019-08-01 $159,450 (0.5%) $208,840 (1.7%) 0.50 2,084
2019-09-01 $158,775 (2.5%) $206,653 (3.1%) 0.51 2,090
2019-10-01 $158,125 (5.5%) $204,933 (3.3%) 0.51 2,073
2019-11-01 $158,500 (5.7%) $206,298 (6.1%) 0.52 1,898
2019-12-01 $152,450 (5.2%) $203,103 (7.4%) 0.51 1,718
2020-01-01 $149,900 (2.7%) $197,588 (4.2%) 0.50 1,567
2020-02-01 $150,000 (2.7%) $198,103 (3.1%) 0.49 1,533
2020-03-01 $157,225 (4.0%) $199,114 (1.9%) 0.49 1,485
2020-04-01 $159,900 (3.3%) $206,435 (3.1%) 0.50 1,381
2020-05-01 $165,000 (3.2%) $210,467 (1.5%) 0.50 1,340
2020-06-01 $170,800 (6.8%) $217,607 (3.7%) 0.50 1,256
2020-07-01 $175,000 (9.4%) $240,359 (14.0%) 0.51 1,095
2020-08-01 $184,900 (16.0%) $247,741 (18.6%) 0.53 1,023
2020-09-01 $182,400 (14.9%) $253,988 (22.9%) 0.52 975
2020-10-01 $185,000 (17.0%) $258,707 (26.2%) 0.53 976
2020-11-01 $179,900 (13.5%) $256,632 (24.4%) 0.53 924
2020-12-01 $179,450 (17.7%) $254,977 (25.5%) 0.53 858
2021-01-01 $169,250 (12.9%) $246,866 (24.9%) 0.51 755
2021-02-01 $177,075 (18.1%) $258,425 (30.5%) 0.52 599
2021-03-01 $183,725 (16.9%) $274,938 (38.1%) 0.52 524
2021-04-01 $189,450 (18.5%) $280,101 (35.7%) 0.51 520
2021-05-01 $199,000 (20.6%) $295,339 (40.3%) 0.53 573
2021-06-01 $197,500 (15.6%) $295,015 (35.6%) 0.52 714
2021-07-01 $199,900 (14.2%) $282,180 (17.4%) 0.53 809
2021-08-01 $198,750 (7.5%) $275,819 (11.3%) 0.53 831
2021-09-01 $190,950 (4.7%) $273,482 (7.7%) 0.51 834
2021-10-01 $179,000 (-3.2%) $263,468 (1.8%) 0.48 832
2021-11-01 $175,000 (-2.7%) $260,370 (1.5%) 0.47 762
2021-12-01 $175,000 (-2.5%) $262,608 (3.0%) 0.47 676
2022-01-01 $175,000 (3.4%) $263,859 (6.9%) 0.47 576
2022-02-01 $179,450 (1.3%) $286,744 (11.0%) 0.47 421
2022-03-01 $188,450 (2.6%) $296,576 (7.9%) 0.47 417
2022-04-01 $217,000 (14.5%) $306,663 (9.5%) 0.52 447
2022-05-01 $219,225 (10.2%) $307,869 (4.2%) 0.50 513
2022-06-01 $225,000 (13.9%) $309,141 (4.8%) 0.50 640
2022-07-01 $229,000 (14.6%) $311,957 (10.6%) 0.52 746
2022-08-01 $225,000 (13.2%) $302,117 (9.5%) 0.52 798
2022-09-01 $227,000 (18.9%) $302,322 (10.6%) 0.53 793
2022-10-01 $225,000 (25.7%) $301,407 (14.4%) 0.53 822
2022-11-01 $219,950 (25.7%) $289,023 (11.0%) 0.53 872
2022-12-01 $215,000 (22.9%) $295,432 (12.5%) 0.53 797
2023-01-01 $217,450 (24.3%) $297,126 (12.6%) 0.54 673
2023-02-01 $217,000 (20.9%) $293,096 (2.2%) 0.52 597
2023-03-01 $229,450 (21.8%) $311,231 (4.9%) 0.54 555
2023-04-01 $235,000 (8.3%) $313,089 (2.1%) 0.55 566
2023-05-01 $242,225 (10.5%) $314,732 (2.2%) 0.55 600
2023-06-01 $250,000 (11.1%) $331,871 (7.4%) 0.56 649
2023-07-01 $249,900 (9.1%) $328,801 (5.4%) 0.57 720
2023-08-01 $240,000 (6.7%) $321,815 (6.5%) 0.55 777
2023-09-01 $239,900 (5.7%) $310,854 (2.8%) 0.56 792
2023-10-01 $239,495 (6.4%) $305,659 (1.4%) 0.56 818
2023-11-01 $237,000 (7.8%) $299,895 (3.8%) 0.56 852
2023-12-01 $240,000 (11.6%) $308,303 (4.4%) 0.59 831
2024-01-01 $232,500 (6.9%) $292,465 (-1.6%) 0.57 741
2024-02-01 $229,900 (5.9%) $284,464 (-3.0%) 0.55 692
2024-03-01 $234,900 (2.4%) $293,956 (-5.6%) 0.55 651
2024-04-01 $242,450 (3.2%) $305,103 (-2.6%) 0.56 630
2024-05-01 $261,950 (8.1%) $331,536 (5.3%) 0.59 658
2024-06-01 $264,950 (6.0%) $334,073 (0.7%) 0.60 769
2024-07-01 $259,500 (3.8%) $336,819 (2.4%) 0.59 854
2024-08-01 $249,900 (4.1%) $335,746 (4.3%) 0.58 909
2024-09-01 $243,450 (1.5%) $331,736 (6.7%) 0.57 993
Scranton's median listing price for 2024-09-01 was $243,450, a difference of $3,550 (1.5%) versus the prior year and $-6,450 versus the prior month.

Scranton's median listing price comes in at 57% of the national average.

Scranton's average listing price for 2024-09-01 was $331,736, a difference of $20,882 (6.7%) versus the prior year and $-4,010 versus the prior month.

For the 2024-09-01 period, Scranton had 993 MLS listings, a difference of 84 listings (9%) versus the prior month and 201 listings (25%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Scranton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 101 days 1,750 sqft
2018-02-01 107 days 1,732 sqft
2018-03-01 96 days 1,759 sqft
2018-04-01 72 days 1,780 sqft
2018-05-01 64 days 1,840 sqft
2018-06-01 60 days 1,869 sqft
2018-07-01 64 days 1,862 sqft
2018-08-01 70 days 1,840 sqft
2018-09-01 79 days 1,844 sqft
2018-10-01 83 days 1,808 sqft
2018-11-01 87 days 1,797 sqft
2018-12-01 96 days 1,760 sqft
2019-01-01 103 days 1,763 sqft
2019-02-01 109 days 1,770 sqft
2019-03-01 94 days 1,788 sqft
2019-04-01 71 days 1,830 sqft
2019-05-01 61 days 1,845 sqft
2019-06-01 62 days 1,842 sqft
2019-07-01 66 days 1,825 sqft
2019-08-01 71 days 1,833 sqft
2019-09-01 76 days 1,847 sqft
2019-10-01 80 days 1,856 sqft
2019-11-01 85 days 1,845 sqft
2019-12-01 97 days 1,839 sqft
2020-01-01 105 days 1,800 sqft
2020-02-01 103 days 1,800 sqft
2020-03-01 78 days 1,800 sqft
2020-04-01 91 days 1,800 sqft
2020-05-01 99 days 1,805 sqft
2020-06-01 93 days 1,831 sqft
2020-07-01 52 days 1,857 sqft
2020-08-01 49 days 1,849 sqft
2020-09-01 46 days 1,823 sqft
2020-10-01 44 days 1,854 sqft
2020-11-01 52 days 1,814 sqft
2020-12-01 62 days 1,800 sqft
2021-01-01 72 days 1,745 sqft
2021-02-01 70 days 1,778 sqft
2021-03-01 54 days 1,800 sqft
2021-04-01 35 days 1,806 sqft
2021-05-01 29 days 1,803 sqft
2021-06-01 28 days 1,804 sqft
2021-07-01 30 days 1,800 sqft
2021-08-01 35 days 1,816 sqft
2021-09-01 39 days 1,816 sqft
2021-10-01 41 days 1,764 sqft
2021-11-01 44 days 1,749 sqft
2021-12-01 55 days 1,740 sqft
2022-01-01 61 days 1,770 sqft
2022-02-01 58 days 1,768 sqft
2022-03-01 38 days 1,777 sqft
2022-04-01 26 days 1,812 sqft
2022-05-01 28 days 1,837 sqft
2022-06-01 29 days 1,797 sqft
2022-07-01 33 days 1,824 sqft
2022-08-01 39 days 1,809 sqft
2022-09-01 44 days 1,837 sqft
2022-10-01 46 days 1,872 sqft
2022-11-01 47 days 1,797 sqft
2022-12-01 63 days 1,777 sqft
2023-01-01 77 days 1,771 sqft
2023-02-01 76 days 1,737 sqft
2023-03-01 57 days 1,791 sqft
2023-04-01 42 days 1,800 sqft
2023-05-01 39 days 1,832 sqft
2023-06-01 37 days 1,861 sqft
2023-07-01 38 days 1,852 sqft
2023-08-01 39 days 1,838 sqft
2023-09-01 41 days 1,829 sqft
2023-10-01 43 days 1,824 sqft
2023-11-01 45 days 1,800 sqft
2023-12-01 54 days 1,800 sqft
2024-01-01 70 days 1,774 sqft
2024-02-01 65 days 1,723 sqft
2024-03-01 49 days 1,726 sqft
2024-04-01 42 days 1,767 sqft
2024-05-01 34 days 1,781 sqft
2024-06-01 36 days 1,762 sqft
2024-07-01 41 days 1,801 sqft
2024-08-01 43 days 1,775 sqft
2024-09-01 45 days 1,758 sqft
Scranton's median listing age (time on market) for 2024-09-01 was 45 days. This is 10% longer than the same period one year ago.

Scranton's median square footage for active listings during the 2024-09-01 period was 1,758 sqft. One year prior, the average listing was 1,829 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).