Shreveport FHA Loan Rates, Closing Costs & Stats

SHREVEPORT-BOSSIER CITY, LA

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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.

    Shreveport's 88 lenders originated 1,190 FHA loans during 2024. The total origination value was $250,570,000, with an average FHA loan value of $210,563.

    Shreveport FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Shreveport averaged 6.18% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Shreveport's average FHA mortgage closing costs are $6,944.

    The average rate for the prior week (2025-03-28) was 6.48% and one month ago for the week of 2025-02-28, the average rate was 6.57%.

    The average rate one year ago was 6.59%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.82%.

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

    Shreveport 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 Shreveport level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 95 6.30% $11,363
    MOVEMENT MORTGAGE, LLC 85 6.72% $8,677
    FIDELITY BANK 81 6.47% $8,073
    PLANET HOME LENDING, LLC 76 6.70% $8,866
    GUILD MORTGAGE COMPANY 75 6.73% $8,759
    QUICKEN LOANS, LLC 55 6.31% $9,330
    DSLD MORTGAGE, LLC 48 6.04% $6,595
    EUSTIS AND AMERICAN MORTGAGE COMPANY 40 6.66% $9,055
    Origin Bank 30 6.36% $8,317
    BancorpSouth 29 6.31% $7,864
    Equity Prime Mortgage LLC 28 6.57% $8,202
    Red River Bank 28 6.18% $7,017
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 27 6.72% $9,168
    NEWREZ LLC 24 6.48% $8,224
    LOANDEPOT.COM, LLC 23 6.57% $9,750
    Assurance Financial Group, L.L.C. 17 6.77% $8,506
    S1L, Inc. 16 6.81% $8,644
    FREEDOM MORTGAGE CORPORATION 16 6.10% $9,324
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 15 6.45% $8,561
    FIRST COMMUNITY MORTGAGE, INC. 13 6.94% $8,334
    STANDARD MORTGAGE CORPORATION 12 6.06% $8,054
    PENNYMAC LOAN SERVICES, LLC 11 5.93% $7,022
    GUARANTEED RATE, INC. 10 6.92% $9,520
    PLAZA HOME MORTGAGE, INC. 9 7.37% $8,573
    AMERICAN FINANCIAL NETWORK, INC. 9 7.04% $9,795
    GMFS LLC 9 6.33% $7,568
    Home Federal Bank 8 6.64% $6,611
    PIERREMONT MORTGAGE, INC. 7 6.27% $5,492
    MORTGAGE FINANCIAL SERVICES, LLC 6 6.06% $10,942
    SUCCESS MORTGAGE PARTNERS, INC. 6 7.52% $9,667
    Regions Bank 6 6.19% $10,325
    SECURITYNATIONAL MORTGAGE COMPANY 6 6.94% $7,316
    UNION HOME MORTGAGE CORP. 6 6.33% $9,580
    BROKER SOLUTIONS, INC. 5 7.00% $7,490
    STOCKTON MORTGAGE CORPORATION 4 6.41% $12,963
    BARKSDALE 4 6.72% $7,363
    CARDINAL FINANCIAL 4 6.94% $9,253
    Carrington Mortgage Services, LLC 4 6.19% $14,379
    MID AMERICA MORTGAGE, INC. 4 6.34% $4,311
    Mortgage Research Center, LLC 4 6.81% $4,436
    SUN WEST MORTGAGE COMPANY, INC. 4 6.69% $10,324
    Prosperity Home Mortgage, LLC 3 6.58% $11,021
    AmeriHome Mortgage Company, LLC 3 6.54% $5,287
    Flagstar Bank, FSB 3 6.58% $10,364
    SENTE MORTGAGE, INC. 3 6.54% $16,601
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.79% $11,611
    JPMorgan Chase Bank 3 7.04% $5,484
    CROSSCOUNTRY MORTGAGE, LLC 3 6.83% $11,568
    Bank of England 2 6.69% $9,252
    NATIONS DIRECT MORTGAGE, LLC 2 6.75% $8,483
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.50% $14,007
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.25% $11,661
    ROYAL UNITED MORTGAGE LLC 2 7.25% $8,351
    Mr. Cooper ( Nationstar Mortgage ) 2 6.13% $10,259
    FirstBank 1 6.13% $10,646
    Farmers Bank & Trust Company 1 5.99% $5,261
    Plains Commerce Bank 1 8.25% $7,048
    EMM LOANS LLC 1 6.50% $10,153
    Eagle Bank and Trust Company 1 6.19% $6,621
    CORNERSTONE HOME LENDING, INC. 1 6.25% $11,681
    Century Mortgage Company DBA Century Lending Company 1 6.13% $13,778
    RELIANCE FIRST CAPITAL, LLC 1 6.38% $12,754
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.75% $12,371
    SIRVA MORTGAGE, INC. 1 7.25% $11,449
    SOUTHWEST FUNDING, LP 1 6.25% $11,052
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $5,566
    American Mortgage & Equity Consultants, Inc. 1 7.13% $10,739
    V.I.P. MORTGAGE, INC. 1 7.13% $12,290
    SWBC MORTGAGE CORPORATION 1 6.75% $3,979
    The Federal Savings Bank 1 6.63% $9,677
    TOWNE MORTGAGE COMPANY 1 6.75% $9,232
    Trustmark National Bank 1 6.75% $7,215
    AMERICAN FINANCING CORPORATION 1 6.50% $6,864
    LAKEVIEW LOAN SERVICING, LLC 1 7.25% $7,718
    MEMBER ADVANTAGE MORTGAGE, LLC 1 6.25% $9,967
    Ixonia Bank 1 6.63% $10,428
    Merchants Bank of Indiana 1 6.50% $7,240
    MICHIGAN MUTUAL, INC. 1 6.75% $6,992
    US MORTGAGE CORPORATION 1 6.50% $9,494
    VILLAGE CAPITAL MORTGAGE 1 6.00% $6,401
    GSF Mortgage Corporation 1 8.63% $16,219
    Nations Lending Corporation 1 6.00% $23,541
    NEW DAY FINANCIAL, LLC 1 7.25% $3,883
    Gateway First Bank 1 6.63% $6,019
    North American Savings Bank, F.S.B. 1 6.25% $5,909
    NORWICH COMMERCIAL GROUP, INC. 1 5.25% $4,462
    OCMBC, INC. 1 7.25% $9,898
    Paramount Residential Mortgage Group, Inc. 1 6.25% $8,125

    The top Shreveport FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 95 FHA loans originated. Their average total fees are $11,363, which is $2,685 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Shreveport FHA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($6,595), Red River Bank ($7,017), PENNYMAC LOAN SERVICES, LLC ($7,022), BancorpSouth ($7,864) and STANDARD MORTGAGE CORPORATION ($8,054).

    The lowest rate Shreveport FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.93%), DSLD MORTGAGE, LLC (6.04%), STANDARD MORTGAGE CORPORATION (6.06%), FREEDOM MORTGAGE CORPORATION (6.10%) and Red River Bank (6.18%).

    Shreveport FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SHREVEPORT-BOSSIER CITY, LA BOSSIER 2022 $420,680 $538,650 $651,050 $809,150
    SHREVEPORT-BOSSIER CITY, LA CADDO 2022 $420,680 $538,650 $651,050 $809,150
    SHREVEPORT-BOSSIER CITY, LA DE SOTO 2022 $420,680 $538,650 $651,050 $809,150
    SHREVEPORT-BOSSIER CITY, LA BOSSIER 2023 $472,030 $604,400 $730,525 $907,900
    SHREVEPORT-BOSSIER CITY, LA CADDO 2023 $472,030 $604,400 $730,525 $907,900
    SHREVEPORT-BOSSIER CITY, LA DE SOTO 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Shreveport (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 $183,950 (1.9%) $234,762 (3.1%) 0.68 2,000
    2018-02-01 $186,750 (1.0%) $237,362 (2.2%) 0.68 1,991
    2018-03-01 $189,900 (2.4%) $239,566 (1.1%) 0.67 2,009
    2018-04-01 $193,700 (2.4%) $244,094 (1.3%) 0.66 2,107
    2018-05-01 $192,875 (1.6%) $247,710 (2.2%) 0.64 2,102
    2018-06-01 $196,900 (3.8%) $250,320 (2.9%) 0.66 2,107
    2018-07-01 $194,800 (3.1%) $250,200 (4.1%) 0.65 2,169
    2018-08-01 $199,000 (6.7%) $248,492 (3.8%) 0.67 2,174
    2018-09-01 $195,450 (5.7%) $247,384 (4.4%) 0.66 2,122
    2018-10-01 $199,000 (7.6%) $249,598 (6.7%) 0.67 2,062
    2018-11-01 $195,125 (5.5%) $245,870 (5.5%) 0.66 2,049
    2018-12-01 $194,000 (5.2%) $244,477 (4.4%) 0.67 2,008
    2019-01-01 $195,925 (6.5%) $243,564 (3.8%) 0.68 1,949
    2019-02-01 $199,900 (7.0%) $244,576 (3.0%) 0.68 1,985
    2019-03-01 $201,229 (6.0%) $247,579 (3.3%) 0.66 2,016
    2019-04-01 $203,653 (5.1%) $251,679 (3.1%) 0.65 2,040
    2019-05-01 $208,418 (8.1%) $255,239 (3.0%) 0.65 2,011
    2019-06-01 $204,000 (3.6%) $250,874 (0.2%) 0.64 1,963
    2019-07-01 $200,000 (2.7%) $250,986 (0.3%) 0.63 1,964
    2019-08-01 $203,364 (2.2%) $250,558 (0.8%) 0.64 1,950
    2019-09-01 $200,909 (2.8%) $250,152 (1.1%) 0.64 1,912
    2019-10-01 $197,000 (-1.0%) $249,064 (-0.2%) 0.64 1,880
    2019-11-01 $192,900 (-1.1%) $243,826 (-0.8%) 0.63 1,819
    2019-12-01 $192,275 (-0.9%) $241,936 (-1.0%) 0.64 1,785
    2020-01-01 $192,400 (-1.8%) $245,269 (0.7%) 0.64 1,689
    2020-02-01 $190,733 (-4.6%) $245,545 (0.4%) 0.62 1,657
    2020-03-01 $195,563 (-2.8%) $251,873 (1.7%) 0.61 1,669
    2020-04-01 $199,900 (-1.8%) $254,736 (1.2%) 0.63 1,651
    2020-05-01 $208,000 (-0.2%) $256,462 (0.5%) 0.63 1,540
    2020-06-01 $209,950 (2.9%) $271,830 (8.4%) 0.62 1,290
    2020-07-01 $210,000 (5.0%) $281,385 (12.1%) 0.61 1,234
    2020-08-01 $200,000 (-1.7%) $284,022 (13.4%) 0.57 1,152
    2020-09-01 $207,725 (3.4%) $285,030 (13.9%) 0.60 1,112
    2020-10-01 $199,900 (1.5%) $277,948 (11.6%) 0.57 1,076
    2020-11-01 $193,700 (0.4%) $275,470 (13.0%) 0.57 1,044
    2020-12-01 $182,875 (-4.9%) $270,432 (11.8%) 0.54 979
    2021-01-01 $179,900 (-6.5%) $267,527 (9.1%) 0.54 938
    2021-02-01 $179,250 (-6.0%) $270,564 (10.2%) 0.52 793
    2021-03-01 $171,975 (-12.1%) $269,769 (7.1%) 0.49 768
    2021-04-01 $199,950 (0.0%) $283,421 (11.3%) 0.54 385
    2021-05-01 $180,000 (-13.5%) $259,550 (1.2%) 0.48 487
    2021-06-01 $183,500 (-12.6%) $262,154 (-3.6%) 0.48 566
    2021-07-01 $171,000 (-18.6%) $260,663 (-7.4%) 0.45 702
    2021-08-01 $168,500 (-15.8%) $248,208 (-12.6%) 0.45 756
    2021-09-01 $162,950 (-21.6%) $236,860 (-16.9%) 0.43 780
    2021-10-01 $165,000 (-17.5%) $251,286 (-9.6%) 0.44 702
    2021-11-01 $162,475 (-16.1%) $246,107 (-10.7%) 0.43 735
    2021-12-01 $162,875 (-10.9%) $242,638 (-10.3%) 0.44 718
    2022-01-01 $167,500 (-6.9%) $242,146 (-9.5%) 0.45 626
    2022-02-01 $167,075 (-6.8%) $249,169 (-7.9%) 0.43 550
    2022-03-01 $180,813 (5.1%) $278,890 (3.4%) 0.45 477
    2022-04-01 $199,900 (0.0%) $286,714 (1.2%) 0.48 485
    2022-05-01 $205,425 (14.1%) $288,842 (11.3%) 0.47 518
    2022-06-01 $229,900 (25.3%) $314,081 (19.8%) 0.51 603
    2022-07-01 $235,000 (37.4%) $316,226 (21.3%) 0.53 728
    2022-08-01 $225,000 (33.5%) $299,938 (20.8%) 0.52 762
    2022-09-01 $219,000 (34.4%) $290,493 (22.6%) 0.51 814
    2022-10-01 $220,000 (33.3%) $288,998 (15.0%) 0.52 841
    2022-11-01 $229,450 (41.2%) $291,502 (18.5%) 0.55 865
    2022-12-01 $229,000 (40.6%) $281,072 (15.8%) 0.57 854
    2023-01-01 $229,000 (36.7%) $282,286 (16.6%) 0.57 802
    2023-02-01 $229,000 (37.1%) $283,302 (13.7%) 0.55 747
    2023-03-01 $234,725 (29.8%) $289,590 (3.8%) 0.55 764
    2023-04-01 $239,950 (20.0%) $295,412 (3.0%) 0.56 793
    2023-05-01 $237,100 (15.4%) $288,860 (0.0%) 0.54 787
    2023-06-01 $247,500 (7.7%) $286,596 (-8.8%) 0.56 837
    2023-07-01 $253,600 (7.9%) $291,783 (-7.7%) 0.58 868
    2023-08-01 $247,200 (9.9%) $289,880 (-3.4%) 0.57 1,029
    2023-09-01 $245,000 (11.9%) $288,794 (-0.6%) 0.57 1,062
    2023-10-01 $246,500 (12.1%) $287,308 (-0.6%) 0.58 1,105
    2023-11-01 $249,450 (8.7%) $294,409 (1.0%) 0.59 1,152
    2023-12-01 $245,500 (7.2%) $289,758 (3.1%) 0.60 1,126
    2024-01-01 $249,900 (9.1%) $289,657 (2.6%) 0.61 1,059
    2024-02-01 $245,675 (7.3%) $294,333 (3.9%) 0.59 1,051
    2024-03-01 $242,500 (3.3%) $295,438 (2.0%) 0.57 1,057
    2024-04-01 $239,975 (0.0%) $302,326 (2.3%) 0.56 1,065
    2024-05-01 $241,675 (1.9%) $304,480 (5.4%) 0.55 1,126
    2024-06-01 $239,000 (-3.4%) $297,236 (3.7%) 0.54 1,168
    2024-07-01 $239,950 (-5.4%) $294,975 (1.1%) 0.55 1,226
    2024-08-01 $239,900 (-3.0%) $290,998 (0.4%) 0.56 1,265
    2024-09-01 $239,700 (-2.2%) $289,220 (0.2%) 0.56 1,313
    2024-10-01 $241,500 (-2.0%) $295,119 (2.7%) 0.57 1,328
    2024-11-01 $249,480 (0.0%) $304,021 (3.3%) 0.60 1,306
    2024-12-01 $243,125 (-1.0%) $300,138 (3.6%) 0.60 1,300
    2025-01-01 $247,450 (-1.0%) $298,888 (3.2%) 0.62 1,303
    2025-02-01 $252,500 (2.8%) $313,646 (6.6%) 0.61 1,267
    2025-03-01 $250,000 (3.1%) $311,591 (5.5%) 0.00 1,307
    Shreveport's median listing price for 2025-03-01 was $250,000, a difference of $7,500 (3.1%) versus the prior year and $-2,500 versus the prior month.

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

    Shreveport's average listing price for 2025-03-01 was $311,591, a difference of $16,153 (5.5%) versus the prior year and $-2,055 versus the prior month.

    For the 2025-03-01 period, Shreveport had 1,307 MLS listings, a difference of 40 listings (3%) versus the prior month and 250 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Shreveport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 88 days 1,860 sqft
    2018-02-01 89 days 1,872 sqft
    2018-03-01 71 days 1,883 sqft
    2018-04-01 62 days 1,900 sqft
    2018-05-01 64 days 1,913 sqft
    2018-06-01 67 days 1,933 sqft
    2018-07-01 68 days 1,932 sqft
    2018-08-01 71 days 1,939 sqft
    2018-09-01 78 days 1,940 sqft
    2018-10-01 82 days 1,945 sqft
    2018-11-01 84 days 1,922 sqft
    2018-12-01 86 days 1,894 sqft
    2019-01-01 89 days 1,890 sqft
    2019-02-01 80 days 1,901 sqft
    2019-03-01 73 days 1,909 sqft
    2019-04-01 66 days 1,928 sqft
    2019-05-01 66 days 1,934 sqft
    2019-06-01 73 days 1,915 sqft
    2019-07-01 73 days 1,915 sqft
    2019-08-01 72 days 1,906 sqft
    2019-09-01 73 days 1,892 sqft
    2019-10-01 74 days 1,871 sqft
    2019-11-01 74 days 1,850 sqft
    2019-12-01 81 days 1,844 sqft
    2020-01-01 83 days 1,849 sqft
    2020-02-01 74 days 1,840 sqft
    2020-03-01 64 days 1,862 sqft
    2020-04-01 67 days 1,878 sqft
    2020-05-01 75 days 1,889 sqft
    2020-06-01 71 days 1,932 sqft
    2020-07-01 65 days 1,940 sqft
    2020-08-01 59 days 1,946 sqft
    2020-09-01 56 days 1,960 sqft
    2020-10-01 56 days 1,928 sqft
    2020-11-01 63 days 1,899 sqft
    2020-12-01 69 days 1,863 sqft
    2021-01-01 70 days 1,818 sqft
    2021-02-01 58 days 1,789 sqft
    2021-03-01 55 days 1,789 sqft
    2021-04-01 20 days 1,913 sqft
    2021-05-01 31 days 1,787 sqft
    2021-06-01 42 days 1,786 sqft
    2021-07-01 38 days 1,730 sqft
    2021-08-01 48 days 1,710 sqft
    2021-09-01 51 days 1,670 sqft
    2021-10-01 58 days 1,714 sqft
    2021-11-01 53 days 1,713 sqft
    2021-12-01 59 days 1,694 sqft
    2022-01-01 71 days 1,696 sqft
    2022-02-01 72 days 1,692 sqft
    2022-03-01 57 days 1,735 sqft
    2022-04-01 50 days 1,732 sqft
    2022-05-01 42 days 1,800 sqft
    2022-06-01 35 days 1,848 sqft
    2022-07-01 38 days 1,828 sqft
    2022-08-01 46 days 1,823 sqft
    2022-09-01 54 days 1,800 sqft
    2022-10-01 54 days 1,804 sqft
    2022-11-01 59 days 1,832 sqft
    2022-12-01 65 days 1,830 sqft
    2023-01-01 74 days 1,829 sqft
    2023-02-01 63 days 1,834 sqft
    2023-03-01 58 days 1,870 sqft
    2023-04-01 52 days 1,854 sqft
    2023-05-01 55 days 1,793 sqft
    2023-06-01 52 days 1,791 sqft
    2023-07-01 53 days 1,864 sqft
    2023-08-01 53 days 1,838 sqft
    2023-09-01 58 days 1,868 sqft
    2023-10-01 62 days 1,871 sqft
    2023-11-01 63 days 1,900 sqft
    2023-12-01 66 days 1,866 sqft
    2024-01-01 80 days 1,872 sqft
    2024-02-01 70 days 1,849 sqft
    2024-03-01 56 days 1,842 sqft
    2024-04-01 54 days 1,849 sqft
    2024-05-01 52 days 1,860 sqft
    2024-06-01 54 days 1,847 sqft
    2024-07-01 57 days 1,825 sqft
    2024-08-01 61 days 1,806 sqft
    2024-09-01 67 days 1,798 sqft
    2024-10-01 65 days 1,806 sqft
    2024-11-01 67 days 1,846 sqft
    2024-12-01 74 days 1,816 sqft
    2025-01-01 80 days 1,814 sqft
    2025-02-01 77 days 1,862 sqft
    2025-03-01 0 days 1,888 sqft
    Shreveport'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.

    Shreveport's median square footage for active listings during the 2025-03-01 period was 1,888 sqft. One year prior, the average listing was 1,842 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).