Tucson FHA Loan Rates, Closing Costs & Stats

TUCSON, AZ

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.

Tucson's 161 lenders originated 6,087 FHA loans during 2021. The total origination value was $1,321,365,000, with an average FHA loan value of $217,080.

Tucson FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Tucson averaged 0.05% for the week of 2023-01-20, compared to the national average (all FHA variants) of 0% for the same period.

Tucson's average FHA mortgage closing costs are $6,680.

The average rate for the prior week (2023-01-13) was 6.18% and one month ago for the week of 2022-12-16, the average rate was 6.17%.

The average rate one year ago was 3.76%.

For refis of the same type during the week of 2023-01-20, the average rate was -0.23%.

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

Tucson 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 Tucson level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
NOVA FINANCIAL & INVESTMENT CORPORATION 969 3.27% $6,869
GUILD MORTGAGE COMPANY 400 3.15% $9,114
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 327 3.40% $9,419
QUICKEN LOANS, LLC 325 2.68% $6,152
SUNSTREET MORTGAGE, LLC 289 3.25% $8,352
ALTITUDE FINANCIAL CORPORATION 205 3.04% $6,886
LOANDEPOT.COM, LLC 194 3.35% $9,700
V.I.P. MORTGAGE, INC. 161 3.03% $8,440
FREEDOM MORTGAGE CORPORATION 141 2.74% $4,592
PENNYMAC LOAN SERVICES, LLC 111 3.00% $4,573
LAKEVIEW LOAN SERVICING, LLC 105 2.98% $4,345
DHI MORTGAGE COMPANY, LTD. 102 2.84% $7,708
Mr. Cooper ( Nationstar Mortgage ) 98 3.20% $4,345
SUMMIT FUNDING, INC. 97 3.25% $9,940
UNITED WHOLESALE MORTGAGE, LLC 88 2.73% $8,047
KBHS HOME LOANS, LLC 86 3.28% $12,491
CALIBER HOME LOANS, INC. 81 2.90% $6,096
Prosperity Home Mortgage, LLC 70 3.27% $8,651
NEWREZ LLC 62 2.88% $4,135
MORIA DEVELOPMENT, INC. 61 3.15% $9,765
CROSSCOUNTRY MORTGAGE, LLC 60 3.28% $10,288
Lend Smart Mortgage, LLC 58 3.20% $9,373
MOVEMENT MORTGAGE, LLC 54 3.35% $8,505
VILLAGE CAPITAL MORTGAGE 49 2.91% $2,449
Lakeview Community Capital, LLC 47 2.93% $4,364
HOMEAMERICAN MORTGAGE CORPORATION 46 3.03% $7,133
EAGLE HOME MORTGAGE, LLC 46 3.18% $10,973
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 43 3.10% $8,768
AmeriHome Mortgage Company, LLC 40 3.01% $4,036
GENEVA FINANCIAL, LLC 40 3.51% $10,983
BROKER SOLUTIONS, INC. 38 3.41% $8,561
HOMEBRIDGE FINANCIAL SERVICES, INC. 35 2.63% $5,121
GUARANTEED RATE, INC. 32 3.04% $7,926
LOANPAL, LLC 31 2.57% $8,900
Carrington Mortgage Services, LLC 30 3.45% $7,427
Nations Lending Corporation 28 3.10% $8,790
AMCAP MORTGAGE, LTD. 26 3.23% $9,301
Paramount Residential Mortgage Group, Inc. 21 3.21% $7,846
Amerifirst Financial, Inc. 20 3.18% $7,973
HOME POINT FINANCIAL CORPORATION 19 2.78% $7,949
AMERISAVE MORTGAGE CORPORATION 15 2.87% $8,181
AMERICAN FINANCIAL NETWORK, INC. 14 2.89% $10,197
GUARANTEED RATE AFFINITY, LLC 14 2.86% $8,541
RESIDENTIAL BANCORP. 13 3.17% $12,329
BAY EQUITY LLC 13 3.12% $9,144
First Guaranty Mortgage Corporation 12 3.06% $5,200
PREMIER LENDING, INC. 12 3.48% $8,615
SECURITYNATIONAL MORTGAGE COMPANY 12 4.07% $12,163
SOVEREIGN LENDING GROUP INCORPORATED 12 2.81% $8,394
LHM FINANCIAL CORPORATION 12 2.93% $6,811
SUN WEST MORTGAGE COMPANY, INC. 12 3.15% $7,893
PRIMARY RESIDENTIAL MORTGAGE, INC. 11 3.47% $10,551
STEARNS LENDING, LLC 10 3.58% $8,842
PLANET HOME LENDING, LLC 10 2.79% $5,909
Flagstar Bank, FSB 9 2.76% $10,256
MID AMERICA MORTGAGE, INC. 9 3.28% $4,480
Commerce Home Mortgage, Inc. 8 3.38% $8,167
CELEBRITY HOME LOANS, LLC 8 3.20% $11,924
NFM, INC. 8 3.56% $9,235
FINANCE OF AMERICA MORTGAGE LLC 7 3.04% $10,289
MATTAMY HOME FUNDING, LLC 7 2.61% $12,234
InterContinental Capital Group, Inc 6 2.79% $7,280
ALL WESTERN MORTGAGE, INC. 6 3.68% $9,267
TOP FLITE FINANCIAL, INC. 6 3.29% $9,537
AMERICAN PACIFIC MORTGAGE CORPORATION 6 3.08% $8,068
AMERICAN FINANCING CORPORATION 6 3.25% $6,117
PHH Mortgage Corporation 6 3.02% $6,943
CMG MORTGAGE, INC. 6 2.94% $10,785
JPMorgan Chase Bank 5 2.95% $7,166
TOWNE MORTGAGE COMPANY 5 2.62% $9,411
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 2.70% $7,560
NEW WEST LENDING, INC. 5 3.25% $7,802
HOMEOWNERS FINANCIAL GROUP USA, LLC 5 3.08% $11,629
SUBURBAN MORTGAGE, INC. 4 2.97% $9,739
LEADERONE FINANCIAL CORPORATION 4 2.72% $6,966
MUTUAL OF OMAHA MORTGAGE, INC. 4 3.00% $7,513
SOUTHWEST STAGE FUNDING, LLC 4 3.22% $4,177
The Home Loan Expert LLC 4 2.86% $9,116
U.S. Bank 4 3.06% $6,378
VANDERBILT MORTGAGE AND FINANCE, INC. 4 3.44% $10,907
Wells Fargo Bank 4 3.69% $5,326
NATIONS DIRECT MORTGAGE, LLC 3 3.25% $7,567
M&T Bank 3 3.25% $6,310
HOMESIDE FINANCIAL, LLC 3 3.17% $8,164
UNION HOME MORTGAGE CORP. 3 3.67% $8,261
Bank of America 3 3.00% $5,506
Barrington Bank & Trust Company, N.A. 3 3.29% $8,349
PULTE MORTGAGE LLC 3 3.17% $5,882
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.00% $7,626
PLAZA HOME MORTGAGE, INC. 3 3.04% $6,948
DATA MORTGAGE, INC. 3 3.71% $11,671
INTERLINC MORTGAGE SERVICES, LLC 3 3.71% $10,573
Gateway First Bank 3 3.29% $7,063
MLD MORTGAGE INC. 3 2.75% $8,799
Equity Prime Mortgage LLC 3 3.50% $6,582
Neighborhood Loans, Inc. 3 3.50% $8,692
LAND HOME FINANCIAL SERVICES, INC. 2 4.00% $9,062
MICHIGAN MUTUAL, INC. 2 3.25% $9,498
OCEANSIDE MORTGAGE COMPANY 2 2.75% $2,744
OCMBC, INC. 2 3.13% $6,281
EMBRACE HOME LOANS, INC. 2 3.12% $9,443
Peoples Bank 2 3.31% $7,212
CHERRY CREEK MORTGAGE, LLC 2 3.56% $5,533
RELIANCE FIRST CAPITAL, LLC 2 3.00% $11,188
AMERICAN FINANCIAL RESOURCES, INC. 2 3.06% $10,227
STARBOARD FINANCIAL MANAGEMENT, LLC 2 3.25% $7,527
SWBC MORTGAGE CORPORATION 2 2.94% $6,783
ACADEMY MORTGAGE CORPORATION 2 3.56% $9,709
AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 3.56% $9,589
North American Savings Bank, F.S.B. 1 2.75% $7,019
EMM LOANS LLC 1 2.38% $15,393
NP, Inc. 1 2.88% $7,032
Hometown Lenders, Inc. 1 3.63% $10,611
Home Mortgage Alliance Corp 1 2.75% $13,521
ONY GLO, INC. 1 3.88% $8,381
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.25% $8,729
PARKSIDE LENDING, LLC 1 2.75% $7,142
DRAPER AND KRAMER MORTGAGE CORP. 1 3.63% $10,496
Waterstone Mortgage Corporation 1 3.63% $7,692
DIRECTORS MORTGAGE, INC. 1 2.63% $11,817
Glacier Bank 1 2.88% $7,559
MANN FINANCIAL INC. 1 3.50% $4,202
COMMUNITY MORTGAGE FUNDING, LLC 1 2.88% $7,674
Chickasaw Community Bank 1 3.13% $7,009
Prime Choice Funding Inc. 1 2.99% $6,261
Loan Simple, Inc. 1 3.13% $12,343
Wyndham Capital Mortgage, Inc. 1 3.13% $6,687
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 4.50% $12,834
CANOPY MORTGAGE, LLC 1 2.38% $8,232
RADIUS FINANCIAL GROUP INC. 1 2.25% $9,839
RANLIFE, INC. 1 3.38% $9,118
INTELLILOAN, INC. 1 2.88% $10,377
BETTER MORTGAGE CORPORATION 1 2.50% $8,612
ROYAL UNITED MORTGAGE LLC 1 2.75% $9,807
Bell Bank 1 3.00% $7,616
Sierra Pacific Mortgage Company, Inc. 1 2.75% $6,510
INSPIRE HOME LOANS INC. 1 3.00% $8,781
BECKAM FUNDING CORP. 1 3.88% $7,442
KELLER MORTGAGE, LLC 1 2.88% $7,185
BAYSHORE MORTGAGE FUNDING, LLC 1 2.88% $5,673
1st Security Bank of Washington 1 2.50% $9,115
LOANLEADERS OF AMERICA, INC. 1 2.50% $8,448
SUN AMERICAN MORTGAGE COMPANY 1 3.25% $5,799
Bank of England 1 3.13% $11,646
GSF Mortgage Corporation 1 4.25% $12,973
LADERA LENDING, INC. 1 2.25% $6,437
The Federal Savings Bank 1 2.75% $9,632
IDEAL HOME LOANS LLC 1 2.63% $11,957
TJC Mortgage, Inc. 1 2.88% $7,577
ARC HOME LLC 1 2.63% $6,996
First American Bank 1 2.75% $8,495
FBT Mortgage, L.L.C. 1 3.13% $11,582
MOUNTAIN WEST FINANCIAL, INC. 1 2.88% $6,427
VANTAGE WEST 1 2.88% $8,404
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.75% $9,628
FBC MORTGAGE, LLC 1 3.13% $9,107
NBKC BANK 1 3.88% $5,887
Mortgage Research Center, LLC 1 2.99% $6,035
EVERETT FINANCIAL, INC. 1 2.75% $6,812
First National Bank Texas 1 2.88% $9,283
ENVOY MORTGAGE, LTD 1 4.25% $11,081

The top Tucson FHA lender as defined by loan originations is NOVA FINANCIAL & INVESTMENT CORPORATION, with 969 FHA loans originated. Their average total fees are $6,869, which is $2,244 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Tucson FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,449), AmeriHome Mortgage Company, LLC ($4,036), NEWREZ LLC ($4,135), Mr. Cooper ( Nationstar Mortgage ) ($4,345) and LAKEVIEW LOAN SERVICING, LLC ($4,345).

The lowest rate Tucson FHA lenders (with over 10 loans originated) are LOANPAL, LLC (2.57%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.63%), QUICKEN LOANS, LLC (2.68%), UNITED WHOLESALE MORTGAGE, LLC (2.73%) and FREEDOM MORTGAGE CORPORATION (2.74%).

Tucson FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
TUCSON, AZ PIMA 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Tucson (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 $266,975 (7.0%) $381,569 (5.7%) 0.99 3,611
2018-02-01 $274,250 (6.7%) $388,308 (4.1%) 1.00 3,500
2018-03-01 $274,900 (4.0%) $388,186 (2.8%) 0.96 3,450
2018-04-01 $279,913 (5.9%) $394,170 (4.8%) 0.95 3,277
2018-05-01 $282,400 (8.6%) $397,676 (5.9%) 0.94 3,220
2018-06-01 $278,000 (5.4%) $391,960 (4.3%) 0.93 3,121
2018-07-01 $279,715 (8.2%) $385,827 (5.1%) 0.93 3,090
2018-08-01 $279,948 (9.8%) $384,650 (6.1%) 0.94 3,045
2018-09-01 $279,900 (9.2%) $384,625 (5.9%) 0.94 3,102
2018-10-01 $277,450 (6.9%) $383,547 (4.2%) 0.94 3,359
2018-11-01 $279,250 (6.6%) $382,526 (1.7%) 0.95 3,481
2018-12-01 $278,000 (6.9%) $388,378 (2.8%) 0.96 3,441
2019-01-01 $279,500 (4.7%) $394,249 (3.3%) 0.96 3,368
2019-02-01 $285,325 (4.0%) $403,646 (4.0%) 0.96 3,418
2019-03-01 $293,857 (6.9%) $416,194 (7.2%) 0.96 3,289
2019-04-01 $298,500 (6.6%) $422,001 (7.1%) 0.95 3,203
2019-05-01 $298,641 (5.8%) $422,118 (6.2%) 0.93 3,044
2019-06-01 $294,500 (5.9%) $413,341 (5.5%) 0.92 2,890
2019-07-01 $287,950 (2.9%) $406,184 (5.3%) 0.90 2,798
2019-08-01 $289,273 (3.3%) $412,223 (7.2%) 0.92 2,721
2019-09-01 $289,682 (3.5%) $417,033 (8.4%) 0.93 2,744
2019-10-01 $289,955 (4.5%) $418,888 (9.2%) 0.94 2,788
2019-11-01 $286,000 (2.4%) $415,243 (8.6%) 0.94 2,817
2019-12-01 $285,149 (2.6%) $413,325 (6.4%) 0.95 2,676
2020-01-01 $287,500 (2.9%) $414,487 (5.1%) 0.96 2,506
2020-02-01 $297,600 (4.3%) $428,824 (6.2%) 0.97 2,453
2020-03-01 $299,498 (1.9%) $431,128 (3.6%) 0.94 2,409
2020-04-01 $296,950 (-0.5%) $412,932 (-2.2%) 0.93 2,647
2020-05-01 $300,000 (0.5%) $425,062 (0.7%) 0.91 2,341
2020-06-01 $321,809 (9.3%) $455,939 (10.3%) 0.95 1,777
2020-07-01 $325,000 (12.9%) $452,643 (11.4%) 0.94 1,554
2020-08-01 $321,085 (11.0%) $457,872 (11.1%) 0.92 1,525
2020-09-01 $315,748 (9.0%) $463,896 (11.2%) 0.90 1,536
2020-10-01 $310,000 (6.9%) $458,095 (9.4%) 0.89 1,645
2020-11-01 $312,617 (9.3%) $469,047 (13.0%) 0.91 1,557
2020-12-01 $314,955 (10.5%) $470,868 (13.9%) 0.94 1,371
2021-01-01 $319,500 (11.1%) $492,570 (18.8%) 0.95 1,173
2021-02-01 $325,000 (9.2%) $512,011 (19.4%) 0.94 944
2021-03-01 $334,700 (11.8%) $524,656 (21.7%) 0.95 882
2021-04-01 $341,238 (14.9%) $525,842 (27.3%) 0.92 897
2021-05-01 $340,000 (13.3%) $518,464 (22.0%) 0.90 937
2021-06-01 $350,000 (8.8%) $518,746 (13.8%) 0.92 996
2021-07-01 $350,000 (7.7%) $487,528 (7.7%) 0.92 1,184
2021-08-01 $359,500 (12.0%) $481,492 (5.2%) 0.96 1,331
2021-09-01 $359,950 (14.0%) $482,552 (4.0%) 0.96 1,500
2021-10-01 $359,000 (15.8%) $477,895 (4.3%) 0.96 1,700
2021-11-01 $359,925 (15.1%) $481,864 (2.7%) 0.96 1,676
2021-12-01 $360,965 (14.6%) $478,960 (1.7%) 0.98 1,524
2022-01-01 $364,900 (14.2%) $499,152 (1.3%) 0.99 1,366
2022-02-01 $375,000 (15.4%) $536,239 (4.7%) 0.98 1,086
2022-03-01 $387,810 (15.9%) $559,082 (6.6%) 0.97 1,001
2022-04-01 $399,250 (17.0%) $564,543 (7.4%) 0.95 1,034
2022-05-01 $406,223 (19.5%) $579,904 (11.9%) 0.93 1,209
2022-06-01 $410,178 (17.2%) $568,103 (9.5%) 0.91 1,517
2022-07-01 $399,900 (14.3%) $541,091 (11.0%) 0.90 1,950
2022-08-01 $390,000 (8.5%) $518,118 (7.6%) 0.90 2,167
2022-09-01 $382,594 (6.3%) $506,821 (5.0%) 0.90 2,366
2022-10-01 $379,000 (5.6%) $503,982 (5.5%) 0.89 2,641
2022-11-01 $375,000 (4.2%) $509,524 (5.7%) 0.90 2,786
2022-12-01 $374,900 (3.9%) $507,165 (5.9%) 0.94 2,602
Tucson's median listing price for 2022-12-01 was $374,900, a difference of $13,935 (3.9%) versus the prior year and $-100 versus the prior month.

Tucson's median listing price comes in at 94% of the national average.

Tucson's average listing price for 2022-12-01 was $507,165, a difference of $28,205 (5.9%) versus the prior year and $-2,359 versus the prior month.

For the 2022-12-01 period, Tucson had 2,602 MLS listings, a difference of -184 listings (-7%) versus the prior month and 1,078 listings (71%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Tucson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 65 days 2,004 sqft
2018-02-01 54 days 2,030 sqft
2018-03-01 51 days 2,036 sqft
2018-04-01 52 days 2,052 sqft
2018-05-01 50 days 2,058 sqft
2018-06-01 51 days 2,013 sqft
2018-07-01 54 days 2,026 sqft
2018-08-01 56 days 2,019 sqft
2018-09-01 54 days 2,020 sqft
2018-10-01 51 days 1,987 sqft
2018-11-01 52 days 1,987 sqft
2018-12-01 59 days 1,962 sqft
2019-01-01 64 days 1,993 sqft
2019-02-01 50 days 2,029 sqft
2019-03-01 49 days 2,058 sqft
2019-04-01 53 days 2,063 sqft
2019-05-01 52 days 2,048 sqft
2019-06-01 53 days 2,050 sqft
2019-07-01 52 days 2,020 sqft
2019-08-01 51 days 2,026 sqft
2019-09-01 51 days 2,025 sqft
2019-10-01 51 days 2,024 sqft
2019-11-01 54 days 1,976 sqft
2019-12-01 62 days 1,960 sqft
2020-01-01 61 days 1,981 sqft
2020-02-01 45 days 1,994 sqft
2020-03-01 44 days 1,997 sqft
2020-04-01 45 days 1,958 sqft
2020-05-01 57 days 1,977 sqft
2020-06-01 60 days 2,009 sqft
2020-07-01 55 days 2,008 sqft
2020-08-01 53 days 1,982 sqft
2020-09-01 51 days 1,937 sqft
2020-10-01 50 days 1,905 sqft
2020-11-01 51 days 1,911 sqft
2020-12-01 56 days 1,905 sqft
2021-01-01 53 days 1,912 sqft
2021-02-01 43 days 1,903 sqft
2021-03-01 39 days 1,920 sqft
2021-04-01 36 days 1,873 sqft
2021-05-01 34 days 1,870 sqft
2021-06-01 34 days 1,879 sqft
2021-07-01 31 days 1,844 sqft
2021-08-01 31 days 1,852 sqft
2021-09-01 33 days 1,851 sqft
2021-10-01 34 days 1,842 sqft
2021-11-01 37 days 1,867 sqft
2021-12-01 44 days 1,862 sqft
2022-01-01 45 days 1,860 sqft
2022-02-01 38 days 1,865 sqft
2022-03-01 36 days 1,877 sqft
2022-04-01 32 days 1,881 sqft
2022-05-01 30 days 1,912 sqft
2022-06-01 30 days 1,909 sqft
2022-07-01 32 days 1,872 sqft
2022-08-01 37 days 1,833 sqft
2022-09-01 42 days 1,816 sqft
2022-10-01 45 days 1,810 sqft
2022-11-01 50 days 1,812 sqft
2022-12-01 60 days 1,809 sqft
Tucson's median listing age (time on market) for 2022-12-01 was 60 days. This is 36% longer than the same period one year ago.

Tucson's median square footage for active listings during the 2022-12-01 period was 1,809 sqft. One year prior, the average listing was 1,862 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).