Trenton FHA Loan Rates, Closing Costs & Stats

TRENTON-PRINCETON, NJ

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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.

    Trenton's 104 lenders originated 592 FHA loans during 2023. The total origination value was $167,050,000, with an average FHA loan value of $282,179.

    Trenton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Trenton averaged 6.31% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Trenton's average FHA mortgage closing costs are $8,893.

    The average rate for the prior week (2024-12-06) was 6.58% and one month ago for the week of 2024-11-08, the average rate was 6.44%.

    The average rate one year ago was 6.75%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.74%.

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

    Trenton 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 Trenton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 56 6.27% $11,599
    CROSSCOUNTRY MORTGAGE, LLC 42 6.67% $13,208
    UNITED WHOLESALE MORTGAGE, LLC 36 6.56% $13,922
    MLD MORTGAGE INC. 29 6.22% $9,391
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 18 6.76% $14,227
    LOANDEPOT.COM, LLC 18 6.15% $11,899
    Advisors Mortgage Group, L.L.C. 14 6.56% $12,756
    Prosperity Home Mortgage, LLC 14 6.36% $11,401
    ALLIED MORTGAGE GROUP, INC. 12 6.25% $11,811
    PENNYMAC LOAN SERVICES, LLC 12 6.27% $13,299
    Paramount Residential Mortgage Group, Inc. 11 6.95% $14,251
    FREEDOM MORTGAGE CORPORATION 10 6.78% $13,837
    NFM, INC. 10 6.98% $11,963
    NATION ONE MORTGAGE CORPORATION 10 6.90% $12,892
    Northpointe Bank 9 6.28% $12,861
    ABSOLUTE HOME MORTGAGE CORPORATION 9 6.71% $14,099
    Mr. Cooper ( Nationstar Mortgage ) 9 6.08% $16,980
    OCMBC, INC. 8 6.63% $14,606
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.25% $11,562
    JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 8 6.47% $15,193
    Gateway First Bank 8 6.64% $11,025
    NATIONWIDE MORTGAGE BANKERS, INC. 8 6.89% $17,680
    MOVEMENT MORTGAGE, LLC 7 6.89% $9,201
    AMERISAVE MORTGAGE CORPORATION 7 5.86% $13,061
    GREENTREE MORTGAGE COMPANY, L.P. 6 6.69% $10,568
    NEWREZ LLC 6 6.67% $13,205
    Carrington Mortgage Services, LLC 5 6.60% $12,364
    East Coast Capital Corp. 5 6.80% $15,614
    Acre Mortgage and Financial Inc 5 6.53% $14,136
    SUCCESS MORTGAGE PARTNERS, INC. 5 6.60% $12,602
    Keystone Funding, Inc. 4 6.65% $13,065
    PNC Bank 4 6.59% $11,172
    BOND STREET MORTGAGE, LLC 4 6.59% $16,033
    BROKER SOLUTIONS, INC. 4 6.47% $12,088
    CARDINAL FINANCIAL 4 6.06% $15,343
    NJ LENDERS CORP. 4 6.47% $10,498
    Citizens Bank 4 6.97% $9,977
    CMG MORTGAGE, INC. 4 6.59% $16,163
    Princeton Mortgage Corporation 3 5.92% $13,487
    AMERICAN FINANCING CORPORATION 3 6.00% $15,308
    Cornerstone First Mortgage, Inc 3 7.08% $14,967
    DAS Acquisition Company, LLC 3 7.58% $12,061
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.50% $16,115
    JPMorgan Chase Bank 3 6.50% $6,139
    MLB RESIDENTIAL LENDING, LLC 3 7.42% $22,958
    MORTGAGE ACCESS CORP. 3 6.17% $17,503
    Nations Lending Corporation 3 6.33% $15,792
    PLAZA HOME MORTGAGE, INC. 3 6.16% $15,324
    The Federal Savings Bank 3 6.38% $19,191
    UNION HOME MORTGAGE CORP. 3 6.33% $18,187
    VILLAGE CAPITAL MORTGAGE 3 6.21% $14,895
    TD Bank 2 6.44% $9,778
    Meridian Bank Corporation 2 6.13% $9,794
    CLIFFCO, INC. 2 6.37% $22,287
    MID AMERICA MORTGAGE, INC. 2 7.75% $10,627
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.75% $17,009
    NVR Mortgage Finance, Inc. 2 5.38% $27,116
    BAYSHORE MORTGAGE FUNDING, LLC 2 6.88% $14,052
    Wells Fargo Bank 2 6.56% $9,355
    Financial Freedom Mortgage, LLC 2 6.69% $13,843
    TOWNE MORTGAGE COMPANY 2 6.19% $14,467
    GUARANTEED RATE AFFINITY, LLC 2 6.19% $13,511
    GUARANTEED RATE, INC. 2 7.00% $11,484
    LAKEVIEW LOAN SERVICING, LLC 2 6.25% $11,539
    Plains Commerce Bank 2 6.75% $16,606
    1st Colonial Community Bank 2 6.25% $9,529
    NATIONS DIRECT MORTGAGE, LLC 1 6.50% $21,373
    Waterstone Mortgage Corporation 1 6.63% $20,842
    Customers Bank 1 6.63% $8,699
    CONTOUR MORTGAGE CORPORATION 1 7.13% $18,864
    Citibank 1 5.63% $16,971
    CALIBER HOME LOANS, INC. 1 5.75% $11,789
    BAY EQUITY LLC 1 7.25% $10,912
    Bank of England 1 6.25% $14,542
    PHH Mortgage Corporation 1 6.13% $12,101
    Philadelphia Mortgage Advisors, Inc. 1 6.13% $10,917
    AMERITRUST MORTGAGE CORPORATION 1 6.25% $11,728
    1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 6.63% $14,298
    American Mortgage & Equity Consultants, Inc. 1 7.12% $15,747
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $15,676
    RUOFF MORTGAGE COMPANY, INC. 1 6.75% $8,761
    Strong Home Mortgage, LLC 1 5.75% $9,642
    FM Home Loans, LLC 1 7.25% $10,978
    Firstrust Savings Bank 1 6.75% $8,286
    GENEVA FINANCIAL, LLC 1 6.25% $27,076
    FIRST COMMUNITY MORTGAGE, INC. 1 7.63% $17,181
    AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $10,616
    HOMESIDE FINANCIAL, LLC 1 7.00% $13,851
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 7.25% $5,959
    Huntingdon Valley Bank 1 6.25% $9,902
    KELLER MORTGAGE, LLC 1 5.75% $12,554
    LADERA LENDING, INC. 1 8.00% $15,565
    Lakeview Community Capital, LLC 1 6.25% $9,201
    EVERETT FINANCIAL, INC. 1 5.63% $21,039
    LOANLEADERS OF AMERICA, INC. 1 5.25% $15,885
    LOANPAL, LLC 1 6.99% $18,732
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 5.75% $14,739
    Equity Prime Mortgage LLC 1 6.38% $14,543
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $8,570
    EMM LOANS LLC 1 6.13% $15,609
    EMBRACE HOME LOANS, INC. 1 6.63% $10,136
    M&T Bank 1 6.25% $11,240
    MY MORTGAGE, INC. 1 6.63% $22,422
    DEVELOPER'S MORTGAGE COMPANY 1 6.63% $4,335

    The top Trenton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 56 FHA loans originated. Their average total fees are $11,599, which is $1,608 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Trenton FHA lenders (with over 10 loans originated) are MLD MORTGAGE INC. ($9,391), Prosperity Home Mortgage, LLC ($11,401), QUICKEN LOANS, LLC ($11,599), ALLIED MORTGAGE GROUP, INC. ($11,811) and LOANDEPOT.COM, LLC ($11,899).

    The lowest rate Trenton FHA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (6.15%), MLD MORTGAGE INC. (6.22%), ALLIED MORTGAGE GROUP, INC. (6.25%), PENNYMAC LOAN SERVICES, LLC (6.27%) and QUICKEN LOANS, LLC (6.27%).

    Trenton FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    TRENTON-PRINCETON, NJ MERCER 2022 $420,680 $538,650 $651,050 $809,150
    TRENTON-PRINCETON, NJ MERCER 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Trenton (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 $228,750 (5.4%) $383,689 (-4.2%) 0.85 1,155
    2018-02-01 $229,500 (2.1%) $388,262 (-2.4%) 0.83 1,207
    2018-03-01 $255,000 (11.1%) $424,893 (0.3%) 0.89 1,194
    2018-04-01 $274,900 (6.1%) $476,997 (5.0%) 0.93 1,316
    2018-05-01 $302,450 (12.1%) $504,524 (6.6%) 1.01 1,401
    2018-06-01 $300,000 (9.1%) $496,896 (2.0%) 1.00 1,486
    2018-07-01 $304,450 (8.8%) $487,579 (0.3%) 1.02 1,517
    2018-08-01 $299,000 (10.8%) $483,123 (3.8%) 1.00 1,497
    2018-09-01 $289,900 (9.7%) $469,566 (2.1%) 0.97 1,508
    2018-10-01 $289,000 (13.4%) $467,377 (3.3%) 0.98 1,481
    2018-11-01 $283,700 (14.9%) $472,306 (10.9%) 0.96 1,411
    2018-12-01 $270,000 (17.4%) $447,731 (8.3%) 0.93 1,245
    2019-01-01 $267,000 (16.7%) $443,245 (15.5%) 0.92 1,136
    2019-02-01 $282,100 (22.9%) $467,039 (20.3%) 0.95 1,142
    2019-03-01 $306,143 (20.1%) $491,375 (15.7%) 1.00 1,224
    2019-04-01 $329,450 (19.8%) $525,647 (10.2%) 1.05 1,306
    2019-05-01 $349,900 (15.7%) $549,243 (8.9%) 1.09 1,382
    2019-06-01 $359,000 (19.7%) $556,320 (12.0%) 1.12 1,367
    2019-07-01 $352,147 (15.7%) $543,373 (11.4%) 1.10 1,377
    2019-08-01 $349,245 (16.8%) $535,440 (10.8%) 1.11 1,321
    2019-09-01 $349,614 (20.6%) $535,595 (14.1%) 1.12 1,239
    2019-10-01 $349,634 (21.0%) $535,699 (14.6%) 1.13 1,186
    2019-11-01 $330,000 (16.3%) $529,155 (12.0%) 1.08 1,129
    2019-12-01 $327,000 (21.1%) $530,701 (18.5%) 1.09 929
    2020-01-01 $320,725 (20.1%) $529,696 (19.5%) 1.07 829
    2020-02-01 $339,900 (20.5%) $548,508 (17.4%) 1.11 854
    2020-03-01 $370,550 (21.0%) $593,569 (20.8%) 1.16 902
    2020-04-01 $361,000 (9.6%) $581,581 (10.6%) 1.13 803
    2020-05-01 $385,000 (10.0%) $581,959 (6.0%) 1.17 791
    2020-06-01 $405,970 (13.1%) $593,186 (6.6%) 1.20 811
    2020-07-01 $402,445 (14.3%) $616,959 (13.5%) 1.17 765
    2020-08-01 $407,000 (16.5%) $628,917 (17.5%) 1.17 689
    2020-09-01 $420,000 (20.1%) $646,806 (20.8%) 1.20 651
    2020-10-01 $410,000 (17.3%) $639,360 (19.4%) 1.17 620
    2020-11-01 $382,500 (15.9%) $621,843 (17.5%) 1.12 581
    2020-12-01 $387,470 (18.5%) $627,056 (18.2%) 1.15 502
    2021-01-01 $371,250 (15.8%) $612,648 (15.7%) 1.11 393
    2021-02-01 $377,000 (10.9%) $718,218 (30.9%) 1.10 328
    2021-03-01 $399,450 (7.8%) $724,112 (22.0%) 1.13 370
    2021-04-01 $389,225 (7.8%) $710,502 (22.2%) 1.05 391
    2021-05-01 $399,900 (3.9%) $686,924 (18.0%) 1.06 474
    2021-06-01 $355,200 (-12.5%) $609,571 (2.8%) 0.94 610
    2021-07-01 $350,000 (-13.0%) $576,887 (-6.5%) 0.92 697
    2021-08-01 $354,900 (-12.8%) $580,077 (-7.8%) 0.95 662
    2021-09-01 $355,950 (-15.3%) $594,873 (-8.0%) 0.95 625
    2021-10-01 $339,000 (-17.3%) $580,945 (-9.1%) 0.90 601
    2021-11-01 $327,500 (-14.4%) $582,731 (-6.3%) 0.88 509
    2021-12-01 $294,200 (-24.1%) $554,034 (-11.7%) 0.80 413
    2022-01-01 $275,000 (-25.9%) $549,949 (-10.2%) 0.74 322
    2022-02-01 $284,975 (-24.4%) $610,949 (-14.9%) 0.74 339
    2022-03-01 $307,475 (-23.0%) $625,471 (-13.6%) 0.77 365
    2022-04-01 $329,450 (-15.4%) $680,449 (-4.2%) 0.79 396
    2022-05-01 $372,000 (-7.0%) $702,000 (2.2%) 0.85 499
    2022-06-01 $377,500 (6.3%) $686,923 (12.7%) 0.84 527
    2022-07-01 $374,950 (7.1%) $647,359 (12.2%) 0.84 574
    2022-08-01 $388,775 (9.5%) $644,129 (11.0%) 0.90 583
    2022-09-01 $375,225 (5.4%) $633,640 (6.5%) 0.88 523
    2022-10-01 $377,500 (11.4%) $657,124 (13.1%) 0.89 515
    2022-11-01 $374,900 (14.5%) $625,282 (7.3%) 0.90 516
    2022-12-01 $357,111 (21.4%) $603,398 (8.9%) 0.88 423
    2023-01-01 $369,950 (34.5%) $611,320 (11.2%) 0.92 366
    2023-02-01 $374,850 (31.5%) $659,532 (8.0%) 0.90 339
    2023-03-01 $387,000 (25.9%) $686,810 (9.8%) 0.91 332
    2023-04-01 $419,999 (27.5%) $757,033 (11.3%) 0.98 323
    2023-05-01 $460,975 (23.9%) $787,754 (12.2%) 1.05 322
    2023-06-01 $495,500 (31.3%) $822,369 (19.7%) 1.11 350
    2023-07-01 $454,950 (21.3%) $823,059 (27.1%) 1.03 354
    2023-08-01 $444,900 (14.4%) $797,017 (23.7%) 1.02 377
    2023-09-01 $420,000 (11.9%) $771,254 (21.7%) 0.98 382
    2023-10-01 $427,450 (13.2%) $736,988 (12.2%) 1.01 410
    2023-11-01 $394,894 (5.3%) $695,871 (11.3%) 0.94 381
    2023-12-01 $380,000 (6.4%) $610,747 (1.2%) 0.93 324
    2024-01-01 $392,000 (6.0%) $617,829 (1.1%) 0.96 301
    2024-02-01 $384,500 (2.6%) $606,657 (-8.0%) 0.93 298
    2024-03-01 $399,900 (3.3%) $657,574 (-4.3%) 0.94 317
    2024-04-01 $447,475 (6.5%) $708,887 (-6.4%) 1.04 359
    2024-05-01 $454,475 (-1.4%) $770,883 (-2.1%) 1.03 397
    2024-06-01 $469,000 (-5.4%) $809,986 (-1.5%) 1.05 418
    2024-07-01 $460,000 (1.1%) $781,129 (-5.1%) 1.05 438
    2024-08-01 $450,000 (1.2%) $719,684 (-9.7%) 1.05 493
    2024-09-01 $461,000 (9.8%) $718,025 (-6.9%) 1.08 542
    2024-10-01 $470,950 (10.2%) $719,233 (-2.4%) 1.11 543
    2024-11-01 $449,900 (13.9%) $709,934 (2.0%) 1.08 520
    Trenton's median listing price for 2024-11-01 was $449,900, a difference of $55,006 (13.9%) versus the prior year and $-21,050 versus the prior month.

    Trenton's median listing price comes in at 108% of the national average.

    Trenton's average listing price for 2024-11-01 was $709,934, a difference of $14,063 (2.0%) versus the prior year and $-9,299 versus the prior month.

    For the 2024-11-01 period, Trenton had 520 MLS listings, a difference of -23 listings (-4%) versus the prior month and 139 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Trenton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 88 days 1,553 sqft
    2018-02-01 78 days 1,562 sqft
    2018-03-01 58 days 1,617 sqft
    2018-04-01 47 days 1,677 sqft
    2018-05-01 46 days 1,740 sqft
    2018-06-01 51 days 1,746 sqft
    2018-07-01 60 days 1,745 sqft
    2018-08-01 63 days 1,747 sqft
    2018-09-01 68 days 1,705 sqft
    2018-10-01 66 days 1,712 sqft
    2018-11-01 67 days 1,714 sqft
    2018-12-01 76 days 1,656 sqft
    2019-01-01 81 days 1,659 sqft
    2019-02-01 72 days 1,702 sqft
    2019-03-01 52 days 1,759 sqft
    2019-04-01 44 days 1,821 sqft
    2019-05-01 45 days 1,893 sqft
    2019-06-01 55 days 1,905 sqft
    2019-07-01 59 days 1,886 sqft
    2019-08-01 62 days 1,885 sqft
    2019-09-01 65 days 1,885 sqft
    2019-10-01 68 days 1,876 sqft
    2019-11-01 71 days 1,844 sqft
    2019-12-01 83 days 1,814 sqft
    2020-01-01 87 days 1,821 sqft
    2020-02-01 68 days 1,894 sqft
    2020-03-01 43 days 1,957 sqft
    2020-04-01 58 days 1,944 sqft
    2020-05-01 74 days 1,979 sqft
    2020-06-01 61 days 2,019 sqft
    2020-07-01 46 days 1,990 sqft
    2020-08-01 44 days 1,925 sqft
    2020-09-01 43 days 1,990 sqft
    2020-10-01 48 days 1,964 sqft
    2020-11-01 50 days 1,897 sqft
    2020-12-01 60 days 1,900 sqft
    2021-01-01 64 days 1,863 sqft
    2021-02-01 55 days 1,823 sqft
    2021-03-01 24 days 1,827 sqft
    2021-04-01 24 days 1,825 sqft
    2021-05-01 26 days 1,820 sqft
    2021-06-01 30 days 1,656 sqft
    2021-07-01 33 days 1,643 sqft
    2021-08-01 43 days 1,646 sqft
    2021-09-01 48 days 1,634 sqft
    2021-10-01 42 days 1,622 sqft
    2021-11-01 48 days 1,583 sqft
    2021-12-01 63 days 1,519 sqft
    2022-01-01 58 days 1,497 sqft
    2022-02-01 40 days 1,486 sqft
    2022-03-01 33 days 1,515 sqft
    2022-04-01 26 days 1,568 sqft
    2022-05-01 30 days 1,646 sqft
    2022-06-01 33 days 1,688 sqft
    2022-07-01 36 days 1,651 sqft
    2022-08-01 40 days 1,656 sqft
    2022-09-01 48 days 1,676 sqft
    2022-10-01 55 days 1,650 sqft
    2022-11-01 56 days 1,683 sqft
    2022-12-01 64 days 1,646 sqft
    2023-01-01 74 days 1,698 sqft
    2023-02-01 55 days 1,680 sqft
    2023-03-01 37 days 1,691 sqft
    2023-04-01 37 days 1,674 sqft
    2023-05-01 32 days 1,695 sqft
    2023-06-01 30 days 1,818 sqft
    2023-07-01 33 days 1,764 sqft
    2023-08-01 31 days 1,704 sqft
    2023-09-01 33 days 1,660 sqft
    2023-10-01 36 days 1,705 sqft
    2023-11-01 42 days 1,597 sqft
    2023-12-01 46 days 1,566 sqft
    2024-01-01 51 days 1,578 sqft
    2024-02-01 36 days 1,575 sqft
    2024-03-01 33 days 1,687 sqft
    2024-04-01 25 days 1,718 sqft
    2024-05-01 25 days 1,705 sqft
    2024-06-01 29 days 1,737 sqft
    2024-07-01 40 days 1,739 sqft
    2024-08-01 34 days 1,709 sqft
    2024-09-01 36 days 1,695 sqft
    2024-10-01 41 days 1,710 sqft
    2024-11-01 48 days 1,634 sqft
    Trenton's median listing age (time on market) for 2024-11-01 was 48 days. This is 16% longer than the same period one year ago.

    Trenton's median square footage for active listings during the 2024-11-01 period was 1,634 sqft. One year prior, the average listing was 1,597 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).